Pengana WHEB Sustainable Impact Fund

Product Name	Pengana WHEB Sustainable Impact Fund
Issuer	Pengana Capital
Category	Investment
Type	Fund or Trust
Target	Retail, Wholesale
Certified Since	2017

Asset Classes	International equities
Markets	New Zealand, Australia
Investment Approaches	Impact investing, Sustainability themed
It Includes:	Education Healthcare and medical products Impact investments Renewable energy and energy efficiency Social and sustainable infrastructure Sustainable land and agricultural management Sustainable transport Sustainable water More sustainable companies
It has some level of screening for:	Animal cruelty Armaments Fossil fuels Tobacco
It fully excludes:
Broker	Responsible Returns
URL	https://www.responsiblereturns.com.au/investment-options/pengana-wheb-sustainable-impact-fund/profile

Overview

The Pengana WHEB Sustainable Impact Fund invests in a diversified global portfolio of companies with activities identified by WHEB as providing solutions to the challenges of sustainability. The Fund’s portfolio holds predominantly listed global equities. The strategy features active stock-picking with individual stocks being selected through a rigorous ‘bottom-up’ stock-by-stock fundamental research process. The Fund’s investment objective is to achieve capital growth over the medium to longer term. Pengana Investment Management Limited (Pengana) is the responsible entity of the Fund and has appointed WHEB Asset Management LLP as the investment manager for the Fund.

Description

Sustainability & Positive Screening: The Fund invests in a diversified global portfolio of companies with activities identified by WHEB as providing solutions to the challenges of sustainability via nine sustainable investment themes – five of these are environmental (cleaner energy, environmental services, resource efficiency, sustainable transport and water management) and four are social (education, health, safety and well-being).

Impact Investing: WHEB produces an Annual Impact Report which measures, calculates and reports on the extent of positive social and environmental impact from investing in the strategy.

ESG Integration: WHEB’s approach to ESG issues in their investment process is to consider these issues at all stages of analysis and as an integral part of an assessment of the quality of the business overall.

Thresholds: To qualify for WHEB’s universe, companies need to have a market capitalisation of at least US$200m, and at least one third of profits or revenues directly exposed to WHEB’s themes. The decision to pick one third of revenues as a minimum threshold was reached after careful consideration; on the one hand the managers wanted to be able to include larger companies in transition who are in the process of adapting their business to a more sustainability-oriented economy. On the other, they did not want to include companies who were making a token gesture towards becoming a sustainable solution provider without making significant commitment in terms of sales and R&D. A third of a company’s sales is deemed an appropriate level to indicate genuine commitment, while still enabling the managers to capture revaluation from a company during a transitional phase. In practise the majority of holdings in the fund are 100% exposed to the themes, and the weighted average across the fund is over 80% exposure.

Performance results

Product holdings

Product documentation

Supporting documents

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The products featured on this site have all achieved certification under the Responsible Investment Association Australasia’s (RIAA) Responsible Investment Certification Program.

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What sets these investment products aside from regular ones on the market is they all have some type of responsible or ethical strategy applied to them.

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Stewardship & Impact

In July 2019, we lifted our requirements of certified products which we are phasing in over 18 months.

We now require that issuers have organisation-wide commitments to responsible investing and they exercise their responsibilities as stewards of your money - through engaging with companies to improve sustainability performance and voting on shareholder resolutions where possible. All certified products now need to at least avoid significant harm and their issuers will annually report against any sustainability-based claims made by their products. This uplift in program standards is part of our passion for, and on-going commitment to, responsible and ethical investing.

Even though we're lifting the bar, we know your convictions to doing good with your money may be higher and so we have served up our member's certified products with a large dose of transparency and independent verification, so that you can draw your own conclusions from reliable information and choose investments that best suit your individual needs.

*Information Disclosures

While all reasonable efforts are undertaken to ensure information and links on site are current there may be instances where information and documents are updated during the course certification (eg. PDS, Fact Sheet). Certified product issuers are required to update this information as soon as possible on the Responsible Returns site, but there may be some extenuating circumstances impacting timeframes.

The certification program may also assess information provided for certification based on proposed future changes to a responsible investment process that is in-line with Responsible Investment Association Australasia’s (RIAA) Responsible Investment Certification Program criteria. In such instances, members are similarly required to update this information on Responsible Returns within an agreed future timeframe. Old document versions may be reflected on site until this process is finalised.

Pengana WHEB Sustainable Impact Fund

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