Luke Ellis

Man Group announces that it has joined the Net Zero Asset Managers initiative and is thereby committed to reducing greenhouse gas emissions to net zero in investment portfolios by 2050. This is an industry-led effort to help limit warming to 1.5C, consistent with the Paris Accord. The firm has a significant focus on Responsible Investment (RI) and ESG, and this commitment complements the progress already made on climate objectives across RI investing, stewardship and industry advocacy.

In line with the initiative’s objectives, Man Group pledges to:

• Work in partnership with asset owner clients on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management (‘AUM’);
• Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner; and
• Review its interim target at least every five years, with a view to increasing the proportion of AUM covered until 100% of assets are included

The Net Zero Asset Managers initiative, an international group of asset managers with 128 signatories and $43 trillion in assets under management, provides a powerful tool for investors to raise collective climate expectations, articulate the decarbonisation curve of portfolios and engage with companies. Under this guidance, Man Group expects to outline a path to an interim 2030 target across its corporate issuer-specific holdings through both decarbonisation and increasing investment in climate solutions. As a diversified asset manager, Man Group recognises the lack of standardised approaches in the non-corporate issuer domain and will work within the Institutional Investors Group on Climate Changes (IIGCC) framework and in partnership with other forums to align its total asset exposure to net zero.

Luke Ellis, CEO of Man Group, says: “Climate change is an urgent challenge. It represents an existential risk not only for how we will manage our clients’ money, but also for how we will move forward as a society. In that light, asset managers can and must act as powerful drivers for much-needed climate action. The gravity of this is reflected in how we as a firm evaluate climate risk, engage with companies and continue to decarbonise our portfolios. We join the Net Zero Asset Managers initiative in order to build on our existing progress, raise our own standards of accountability for portfolio-born emissions and send an unequivocal message that we recognise the importance of managing climate risk for our clients, employees, stakeholders and the environment.”

Man Group integrates ESG into the investment decision-making process across a wide range of quantitative and discretionary investment styles and continues to develop RI strategies and solutions that align with the values of the firm’s clients. Today, $43 billion^[1] of the firm’s funds under management incorporate ESG factors into the investment process. Man Group actively coordinates its stewardship activities, including engaging investee companies on key ESG issues, co-filing shareholder resolutions and playing a leading role in the Say on Climate initiative. The firm voted in support of 97% of environment-focused shareholder proposals in 2020.

Man Group is also dedicated to promoting responsible investment in the asset management industry though advocacy, education and thought leadership. The firm is an active member of industry groups including the IIGCC, Climate Action 100+, Carbon Pricing Leadership Coalition and is a signatory for the UN-supported Principles for Responsible Investment, among others.

As a listed FTSE-250 company, Man Group plc has already committed to achieve net zero carbon in its global workplaces by 2030; the firm has recently been recognised as a FT Europe Climate Leader 2021 for its work reducing its scope 1, 2 and 3 carbon emissions.

———

[1] Man Group calculation, based on Global Sustainable Investment Alliance definitions, where ESG integration is defined as the systematic and explicit inclusion by investment managers of environmental, social and governance factors into financial analysis. The RI AUM figure aggregates all relevant portions of portfolios (funds or mandates) which routinely and explicitly include ESG factors into the investment decision making process. This includes combined AUM of all affiliated Man Group investment managers. All investment management services are offered through Man Group affiliated investment managers.

The post Man Group commits to net-zero carbon emissions goal appeared first on AdviserVoice.

Luke Ellis

Man Group, the active investment management firm, has announced that it has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI). Two of Man Group’s investment businesses, discretionary manager Man GLG and systematic equity manager Man Numeric, have been signatories to the PRI since 2012 and 2014, respectively.

The firm is now elevating its commitment to the Man Group level, implementing the Principles across its five investment businesses – Man AHL, Man Numeric, Man GLG, Man FRM and Man Global Private Markets – that collectively manage $95.9b (as at 30 June 2017) in client assets.

Man Group takes a diversified approach to responsible investment across its investment businesses, which encompass a broad range of active strategies, including discretionary, systematic and quantitative strategies, private markets as well as investment and advisory services. In elevating the Principles to a Group level, Man Group recognises the continued importance of the best practices endorsed by the PRI, which have developed to accommodate increasingly diverse investment approaches.

Founded in 2005, the PRI is a global network for investors committed to integrating environmental, social and corporate governance (ESG) considerations into their investment practices, ownership policies and business strategies. The six Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice.

Luke Ellis, Chief Executive Officer, Man Group, said “as we continue to develop our responsible investment capabilities and offering, we are delighted to elevate the UN-supported Principles for Responsible Investment to the Man Group level. Consideration of environmental, social and governance factors is increasingly a priority for our clients globally, and as we manage our investors’ capital we are committed to supporting their values and aims across our firm.”

Fiona Reynolds, Managing Director, PRI said “over the last few years, Man Group has demonstrated a strong commitment to responsible investment. It’s a great credit to them that they are now taking this commitment to the next level. This move sends a positive signal to others in the alternative investment space, whom we hope will follow Man Group’s lead.”

In June 2017, Man Group appointed Steven Desmyter as Head of Responsible Investment and Chair of Man Group’s Responsible Investment Committee, and Jason Mitchell as its Sustainability Strategist, recognising their instrumental role in developing and driving forward the firm’s responsible investment capabilities. Steven and Jason will each be presenting at PRI in Person, the global responsible investment conference, taking place in Berlin on 25-27 September.

The post Man Group elevates to the group level its status as a signatory to the Principles for Responsible Investment appeared first on AdviserVoice.

This position recognises his instrumental role in developing and driving forward the firm’s responsible investment capabilities, in support of clients’ needs. Steven, who is member of Man Group’s Executive Committee and Head of Sales across EMEA, will also continue in his current role.

As Head of Responsible Investment, Steven will lead Man Group’s focus on serving its clients’ interest in incorporating environmental, social and corporate governance (ESG) considerations in the investment decision-making process. He will additionally Chair Man Group’s Responsible Investment Committee, which oversees firm-wide responsible investment policies and leads efforts to educate and support each of Man Group’s investment management businesses in adopting responsible investment approaches that are appropriate for their individual investment strategies.

To support its ongoing responsible investment focus, Man Group has also appointed Jason Mitchell as Sustainability Strategist, addition to his current role on Man GLG’s European and international equity teams. In this role, Jason will be responsible for developing the strategy, organisation and methodology to underpin Man Group’s ESG efforts. He will work across the firm’s investment strategies, to support the integration of extra-financial factors and sustainability themes into investment processes across all asset classes.

Jason, who joined Man GLG in 2004, has chaired the United Nations-supported Principles for Responsible Investment (PRI) Hedge Fund Advisory Committee since 2014, is a member of the Plastic Disclosure Project Steering Committee and part of the Tobacco Free Portfolios Working Group. Actively involved in sustainable investment at Man GLG from 2004 and Man Group since 2010, he has written and presented widely on sustainable investment and social-political issues, including in Institutional Investor, London Review of Books, Global Times, Aftenposten and most recently as contributing author in Sustainable Investing: Revolutions in Theory and Practice (Routledge, 2017).

Luke Ellis, Chief Executive Officer, Man Group said: “Our investors increasingly consider environmental, social and governance factors to be a key part of sound investment stewardship. Through his strong relationships with our clients and understanding of their needs, Steven has already been instrumental in developing our responsible investment capabilities. We are committed to furthering the interests of our clients in this area and I am delighted that Steven will now be formally leading Man Group’s efforts in this space, supported by Jason Mitchell who has been a key industry advocate for responsible investment.”

Steven Desmyter, Head of Responsible Investment, Man Group said “We consider responsible investment fundamental to our fiduciary duty to our clients, as they seek to better understand and mitigate long-term, non-financial risks. Our industry is still working towards a truly sustainable and consistent approach to responsible investment but I have been encouraged by recent progress. I look forward to working with Jason Mitchell, the Responsible Investment Committee, and Man Group’s executive team and portfolio managers to further integrate responsible investment capabilities into our client offering.”

The post Man Group names Steven Desmyter Head of Responsible Investment appeared first on AdviserVoice.