Environmental, Social and Governance Investing

ESG is an important part of the manager selection process and we believe it will impact the financial performance of schemes’ investments over the long-term. We aim to invest with managers that are signatories of the United Nations Principles of Responsible Investment (“UN PRI”) or some other recognised standard and follow the Financial Reporting Council’s UK Stewardship Code if applicable.

We aim to recommended investment managers that have robust ESG policies in place and are in line with the trustees’ policies. We expected managers to provide information regarding how they vote and engage when applicable with their investments on behalf of the trustees. Spence will consider ESG issues including climate change as part of the manager’s investment process. Spence will provide an ESG rating based on our manager research criteria which can be found at the end of this section.

Spence & Partners Limited is authorised and regulated by the Financial Conduct Authority in the conduct of investment business.