15 July 2020
Website notification regarding change to Investment Objective and updated Ethical Investment Policy for Pengana High Conviction Equities Fund (ARSN 602 546 332 APIR HHA0020AU) (“Fund”)
CHANGE TO INVESTMENT OBJECTIVE FOR THE FUND
The Fund’s previous investment objective was is to deliver returns that exceed the RBA Cash Rate target +3%. We have now included an additional objective that the Fund outperform the MSCI World Total Return Index (net, AUD) over the long term. Therefore, the Fund’s current investment objective is to deliver returns that exceed the RBA Cash Rate target +3% and to outperform the MSCI World Total Return Index (net, AUD) over the long term.
UPDATED ETHICAL INVESTMENT POLICY FOR THE FUND
We have updated the Fund’s Ethical Investment Policy to read as follows:
Pengana is committed to responsible investing for the Fund and seeks to avoid investing in businesses that are, in its opinion, currently involved in activities that are unnecessarily harmful to people, animals or the environment. These activities include:
- Adult content
- Animal cruelty
- Fossil fuels (coal, coal seam gas, oil)
- Genetically modified organisms (GMO)
- Human rights abuses and exploitation
- Old growth forest logging
- Securities from issuers on UN sanctions list
The Fund utilises a negative screening process which seeks to avoid investment in companies that derive operating revenues from direct and material business involvement in these sectors.
Consideration of environmental, social and governance issues raised by prospective and existing investments are investigated within the investment research process.
Labour standards are considered but not systematically taken into account in the selection, retention or realisation of investments.
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