Bell Global Emerging Companies Fund

Responsible Investing Approach

Bell Asset Management is committed to integrating ESG issues, including labour and ethical considerations, into its investment process. It integrates ESG into the investment process by taking ESG factors into account in assessing every stock in the portfolio, and which excludes stocks that have exposure to certain industries or business practices or do not conform to established norms for responsible business practices as defined in the United Nations Global Compact principles. In addition, the Fund has the objective to exceed the weighted average ESG score of the Fund's benchmark and to have lower carbon intensity than the Fund's benchmark.

The Fund Manager's investment framework integrates broader ESG specific activities, including ESG screening, active ESG analysis, engagement with the management of companies and proxy voting. The impact of applying the ESG screens and active ESG analysis is to minimise (and in some cases eliminate) exposure to companies that derive revenue from activities deemed by the manager as harmful to the environment or society.

Bell Asset Management has chosen seven SDGs to support and promote that align to its integrated investment philosophy and ESG approach. These priority goals are promoted through engagement with investee companies, collaboration with the investors, active investment/divestment decisions, and active ownership incorporating proxy voting.

Documents

Exclusions

The Fund applies ESG screens with the goal to minimise (and in some cases eliminate) exposure to companies that derive revenue from Tobacco, Controversial Weapons, Conventional Weapons, Nuclear Weapons, Civilian Firearms, Adult Entertainment, Gambling, Uranium, Nuclear Power, Coal and Unconventional Oil and Gas companies, as well as companies that breach International norms and principals (including, but not limited to, the UN Global Compact and various Sanction lists).

Exclusions	Full/Partial Exclusion	Description
Tobacco	Full	The Fund does not invest in companies that derive any revenue from the production or manufacturing of tobacco, nicotine alternatives and tobacco-based products.
Tobacco	Partial	The Fund does not invest in companies that generate more than 10% of their revenues from tobacco distribution, licensing, retailing or supplying / packaging.
Weapons	Full	The Fund does not invest in companies that derive any revenue from controversial or nuclear weapons.
Weapons	Partial	The Fund does not invest in companies that generate more than 10% of their revenues from conventional weapons, small arms or civilian firearms.
Fossil fuel exploration, mining and production	Partial	The Fund does not invest in companies that generate more than 10% of their revenues from coal mining, power generation or transportation, or companies that generate more than 5% of their revenues from unconventional oil and gas extraction.
Gambling	Partial	The Fund does not invest in companies that generate more than 10% of their revenues from gambling.
Nuclear power (including uranium mining)	Partial	The Fund does not invest in companies that generate more than 10% of their revenues from nuclear power generation and supply, or companies that generate more than 5% of their revenues from uranium mining.
Adult entertainment/pornography	Full	The Fund does not invest in companies that derive any revenue from the production of adult entertainment.
Adult entertainment/pornography	Partial	The Fund does not invest in companies that generate more than 5% of their revenues from the distribution or retailing of adult entertainment.

Inclusions

Bell Asset Management supports the United Nations Sustainable Development Goals (SDGs) and aligns itself to various SDGs that are most representative of its investment philosophy. Its stewardship and research efforts take into account both positive and negative effects and are primarily focused on ensuring that its investments are aligned with its investment philosophy in that they: generate sustainable profits over the long-term, have a lean environmental footprint, provide empowerment and equality both within their workforce, supply chain and within the community in which they operate in and are committed to making a meaningful contribution to society's well-being.

Bell Asset Management has chosen seven SDGs to support and promote that align with its integrated investment philosophy and ESG approach. These are related to either the environment (Affordable and Clean Energy, Responsible Consumption and Production, Climate Action), social issues (Good Health and Well-Being, Decent Work and Economic Growth), or good governance (Gender Equality, Reduced Inequalities), where it believes companies can make a meaningful difference in both their actions and in their disclosure. Bell has also utilised various UN SDG related targets and indicators to measure and monitor progress.

UN Sustainable Development Goals

The fund is aligned with the following UN Sustainable Development Goals.

Goal 12: Responsible Consumption and Production

Conventions & Treaties

Bell Asset Management has been a signatory of Principles for Responsible Investment since 2014, it has adopted climate-related financial disclosures which are aligned with the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and supports the goals of the 2015 Paris Agreement. Bell Asset Management has chosen seven SDGs to support and promote that align to its integrated investment philosophy and ESG approach.

Conventions & Treaties	Aligned	Description
Principles for Responsible Investment	Yes	Signatory since 2014
Task Force on Climate-related Financial Disclosures	Yes	Bell Asset Management has adopted climate-related financial disclosures which are aligned with the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Paris Agreement (UN Framework Convention on Climate Change)	Yes	Bell Asset Management supports the goals of the 2015 Paris Agreement.
UN Sustainable Development Goals	Yes	Bell Asset Management has chosen seven SDGs to support and promote that align to its integrated investment philosophy and ESG approach. These priority goals are promoted through engagement with investee companies, collaboration with the investors, active investment/divestment decisions, and active ownership incorporating proxy voting.

ESG Score

ESG Score
Does the portfolio have an ESG score?	Yes
If so, who is responsible for calculating the score?	MSCI
If a score is calculated, is this publicly available; i.e. displayed in monthly reports, on your website, etc.?	Yes
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
Stewardship policy	View Stewardship policy document
Is the fund RIAA certified?	Yes
Date certified
ESG Exclusion criteria	View ESG Exclusion criteria document
PRI Report 2023	View PRI Report 2023 document
Holdings	View Holdings document
ESG Engagement Report 2022-2023	View ESG Engagement Report 2022-2023 document

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