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Magellan Core ESG Fund

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Responsible Investing Approach

The Fund's primary investment objective is to achieve attractive risk-adjusted returns over the medium to long term through investment in a diversified portfolio of high-quality companies. This objective incorporates the consideration of ESG factors and the application of Magellan's low carbon framework. ESG factors include: - environmental factors, such as climate change and waste disposal, reuse and recycling of materials and other issues that can impact the environment; - social and ethical factors, such as human rights and adherence to labour standards including supply chain labour standards and standards relating to workers' rights, health and safety and labour relations; and - corporate governance factors, such as board structure and remuneration.

Documents

Exclusions

The Fund excludes companies with business involvement at or above the specified tolerance guidance in the following industries, which they view may have wide-ranging detrimental impacts on society. 

Exclusions Full/Partial Exclusion
Description
TobaccoTobacco Full

The Fund excludes companies with any exposure to the production of tobacco products.

Partial

The Fund excludes companies with a material exposure greater than 5% of the company's revenue to the distribution of tobacco products.

AlcoholAlcohol Partial

The Fund excludes companies with a material exposure greater than 5% of the company's revenue to the production of alcohol, or a 10% exposure to the distribution of alcohol.

WeaponsWeapons Full

The Fund excludes companies with any exposure to the manufacturing of controversial armaments and weapons.

Partial

The Fund excludes companies with a material exposure greater than 5% of the company's revenue to the manufacturing of conventional weapons and civilian firearms, the distribution of civilian firearms, or services in direct support of conventional weapons.

Fossil fuel exploration, mining and productionFossil fuel exploration, mining and production Full

The Fund excludes companies with any exposure to the mining or extraction of fossil fuels such as thermal coal, gas and oil.

Partial

The Fund excludes companies with a material exposure greater than 5% of the company's revenue to energy generation from fossil fuels such as thermal coal, gas and oil.

GamblingGambling Partial

The Fund excludes companies with an aggregate exposure greater than 5% of the company's revenue from the direct operation or ownership of gambling facilities.

Adult entertainment/pornographyAdult entertainment/pornography Partial

The fund excludes companies with a material exposure greater than 5% of the company's revenue from the production or distribution of pornography.

Inclusions

Magellan overlay their proprietary low carbon framework to deliver a portfolio which aims to limit the carbon intensity of the portfolio to one-third of the weighted average carbon intensity of the MSCI World Index, as reported by MSCI. Companies are reviewed and scored for the materiality of their exposure to environmental, social and governance (ESG) factors. The assessment is a direct input into portfolio management.

UN Sustainable Development Goals

Conventions & Treaties

In 2022, Magellan joined the Net Zero Asset Managers initiative, showcasing its commitment to net-zero emissions. Since 2012, Magellan has become a signatory to the Principles for Responsible Investing and, since 2017, has been acknowledged as a Responsible Investor by the Responsible Investment Association Australasia (RIAA). Additionally, it is a member of the Investor Group on Climate Change.

Conventions & Treaties Aligned
Description
Principles for Responsible Investment Yes

Signatory since 2012

ESG Score

ESG Score
Does the portfolio have an ESG score? Not disclosed
If so, who is responsible for calculating the score? Not disclosed
If a score is calculated, is this publicly available; i.e. displayed in monthly reports, on your website, etc.? Not disclosed
If the portfolio has an ESG score, how often is that score recalculated to account for changes to portfolio holdings? Not disclosed

Impact Investing Score

Impact Investing Score
Does the portfolio have an Impact Investment score? Not disclosed
If a score is calculated, is this publicly available; i.e. displayed in monthly reports, on your website, etc.? Not disclosed
If the portfolio has an Impact Investment score, how often is that score recalculated to account for changes to portfolio holdings? Not disclosed
Does the fund publish its holdings publicly? Yes

Policies, Certification & Marketing

Policies, Certification & Marketing
Responsible investing policy View Responsible investing policy document
Proxy voting policy View Proxy voting policy document
Modern slavery policy View Modern slavery policy document
Is the fund RIAA certified? Yes
Date certified
Stewardship 2023 Report View Stewardship 2023 Report document
Portfolio Holdings (Dec 2023) View Portfolio Holdings (Dec 2023) document
Fundmonitors.com

Magellan Core ESG Fund

Strategy Summary

The Fund's primary investment objective is to achieve risk-adjusted returns over the medium to long term through investment in a diversified portfolio of companies listed on stock exchanges around the world. This objective incorporates the consideration of ESG factors and the application of our low carbon framework. The Fund's portfolio will comprise 70-90 securities at any one time but will also have some exposure to cash. It is not the Magellan's intention to hedge the foreign currency exposure of the Fund arising from investments in overseas markets. The Fund can use foreign exchange contracts to facilitate settlement of stock purchases. The Fund may also use exchange traded derivatives, in a limited manner, for risk management purposes.

Key Terms

Status: Open Inception Date: Jan 2021
Strategy: Equity Long Style: Blend
Geography: Global Domicile: Australia
Investors: Retail Min. Investment: AU$10000
Mgmt. Fee: 0.51% Perf. Fee: 0%

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News and Insights

28 May 2024 TechRights Nexus - The intersection of Digital... Magellan Funds Management
Amy Krizanovic, Head of ESG, spoke on the panel at the Responsible Investment Association Australia conference, discussing the Artificial Intelligence and Human Rights toolkit, an essential resource to navigate this critical intersection.
Full Article
6 May 2024 Social and Regulatory Risks of AI Magellan Funds Management
Artificial intelligence (AI) is no longer an abstract concept; it is quickly evolving as an integrated part of our daily lives. From virtual assistants and transportation to eCommerce and even healthcare, AI is continuing to expand its application. As investors, understanding the risks and opportunities associated with this new technology is vitally important.
Full Article

ESG Check

Australian Fund Monitors Pty Ltd
A.C.N. 122 226 724
AFSL 324476
Email: [email protected]