Process Pitch

Question 1

ESG Integration ?

Answer 1

Firstly we think ESG is financially material. As part of our stock research we investigate a company’s quality by which we mean- It’s industry, competitive moat, managment team, financials and ESG. Each company receives a Q score and ESG Qscore. The ESG Q score seeks to appraise the risks and opportunities facing a business

Inputs into the process we have 3 teams
- Equity ANalysts who approaise the risks and opportunities in the companies in their coverage
- on desk ESG specialist - brings expertise to each of our regions and acts as a key check& challenge during
- Central team for research sharing

Question 2

Compensation for PMs?

Answer 2

4 key areas:

• Investment excellence - quantitative and qualitative assessment of research: strat performance e

-Collaboration - contribution to peer review within the team and insight sharing across asset classes

-less: client engagement
-less : commerciality

Question 3

Team collaboration

Answer 3

3 Forums, which help facilitate idea generation and portfolio construction

• Asia weekly meetings
  -Gem ex Asia Weekly meetings
  -Sector reviews / Pod meetings

Question 4

Style

Answer 4

Consistent bias to quality

Added to profitability through weakness in 2022.

Footprint has been consistent over the years unlike some competitors

Question 5

Performance

Answer 5

• First thing to say is that Osamu recently received the alpha manager rating for consistent outperformance across their whole career , top 10% of PMs in the uk
• YTD - 200Bps behind

-2023- strong year 30% absolute terms , +4.9% relative . Two themes - cutting edge technology and growth of India.

-2022: first time we underperformed a falling market. Russia and resulting commodities/ cyclicals favoured.