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Responsible Investment

Responsible Investment

Responsible Investment, which began as a niche some years ago, is now at the forefront of many of our clients’ minds and increasingly embedded in our approach. At UBP we firmly believe that long-term risk adjusted returns can be enhanced through ESG integration, active ownership (engagement and voting) and a focus on the impact our investments make.



UBP’s commitment

UBP’s commitment to sustainable wealth management for our clients led us to become a signatory of the United Nations Principles for Responsible Investment (UN PRI) in March 2012. Since then, the world of responsible investment has evolved substantially, as has our approach.

As part of our continued commitment to upholding the principles of the UNPRI, we have recently both expanded and enhanced our Responsible Investment Policy to provide a robust foundation across the full range of our products and mandates within the Bank.

The financial rationale is clear – that a comprehensive approach to ESG considerations can support both risk management and alpha-generation. However, we are also firmly of the view that finance has a key role to play in creating a sustainable economy.

In order to tackle the world’s biggest challenges; governments, the corporate world and the financial sector must work together and it is this aim which has led to our collaboration with the Cambridge Institute for Sustainability Leadership. In 2018, we became a member of their ‘Investment Leaders Group’, a select network of pension funds, insurers and asset managers committed to advancing the practise of responsible investment. UBP is also a member of Sustainable Finance Geneva and Swiss Sustainable Finance.

Investment philosophy

The ESG approach of our investment philosophy is fourfold – positive and negative screening, engagement and thought leadership.

  • Positive screening: a firm-wide ‘inclusion list’, populated by names which we regard as ‘ESG Champions’ – companies which either contribute to solving the world’s societal and climate challenges or which are being innovative in their efforts to improve their ESG practices. Investment centres both contribute to and draw from this list.
  • Negative screening: A firm-wide exclusion list, which encompasses a number of controversial business areas in which we feel it is inappropriate to invest.
  • Engagement: as part of our strategy to be active managers of capital, we encourage fund managers to engage with company management where possible, with the aim to support best practice and encourage change where necessary.
  • Thought Leadership: keeping pace with the change is not sufficient – we are committed to our role as responsible investors and aim to shape industry developments rather than follow them. We promote and participate in responsible investment within the investment community through our active involvement in the Cambridge Institute for Sustainability Leadership’s ‘Investment Leaders Group’.

Investment Manager

Denis Girault

Head of Emerging Markets Fixed Income. Denis has over 25 years of professional experience within the investment banking and financial industry, including 15 as emerging markets fixed income specialist.
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Head of Impact Investing

Victoria Leggett

Head of Responsible Investment for Asset Management. Victoria joined UBP in 2010 as a portfolio manager and has 15 years of investment experience. She previously worked as a European Equity Analyst at Threadneedle having started her career in Corporate Finance.

Expertise

Value creation through responsible investment

UBP continues on its way to enhanced ESG investment standards

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Investment Manager

Marc Basselier

Marc Basselier joined UBP as Head of Convertible Bonds in December 2018. Before that he headed up AXA IM’s global and European convertible bond strategies team for over fifteen years.

Expertise

Sustainable EM corporate debt

A new asset class for responsible investors
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Impact investing - Creating the future now

The role of impact investing is to strive to solve the world’s most pressing problems by identifying compelling long-term investments.
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Impact investing - Shaping tomorrow

Impact investing can help shape a healthier and brighter future.

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Institutional clients

With a team of more than 200 people, UBP Asset Management has built an on-the-ground presence in the world’s major markets through organic growth and selected partnerships.

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Market insight 15.02.2019

US: weak industrial production and mixed empire manufacturing

US: Industrial production (Jan): -0.6% m/m vs 0.1% expected (prior: 0.1% revised from 0.3%)

  • The decline in IP was driven by a 0.9% drop in manufacturing output, which was largely driven by an 8.8% m/m plunge in motor vehicle output, which reversed a 4.3% surge in December. But there were also signs of weakness in other sectors, which machinery and electronics production both declining.
  • With the latest retail sales data, this provides further reason to think that the Fed won't be raising rates any time soon.

 

US: Empire manufacturing (Feb): 8.8 vs 7 expected (prior: 3.9)

  • While the index rose in Feb, the composition was mixed as the new orders index increased, but the shipments and employment components both declined. The prices paid measure decreased and the 6 months-ahead business conditions index rebounded sharply by 14.5pt to +32.3.

 

US: Consumer confidence (Michigan) (Feb P): 95.5 vs 93.7 expected (prior: 91.2)

  • Sentiment has rebounded more than expected; sentiment on current situation has increased lower than expected, while expectations rose higher than expected.

 

US: Import price index (Jan): -0.5% m/m vs -0.2% expected (prior: -1%)

  • The decline reflected a drop in the fuel category (-3.2% m/m).
  • Overall, the report was soft as consumer goods import prices fell at their fastest pace in 7 months and auto prices fell by 0.2% m/m.

 

UK: Retail sales (Jan): 1.2% m/m vs 0.2% expected (prior: -1% revised from -1.3%)

  • Sales ex fuel were up by 1.2% m/m vs 0.2% m/m expected (-1% the prior month); Internet sales have rebounded by 3.7% m/m and represent 18.8% of total sales (prior: 19.8%).
  • Overall, retail sales rebounded as clothing discounts attracted shoppers but downside risks could continue to weigh on consumption as political scenario remains unclear.

 

Spain: CPI (Jan F): -1.7% m/m as expected (prior: -0.5%)

  • On a y/y basis: 1% as expected (prior: 1.2%).
  • Clothing and footwear have driven trend in headline prices lower (-15.4% m/m), while transportation rose by 0.3% m/m.