| Asset Group | Asset Sub-Group | Investment Category |
| Equities | UK equities | Core |
Why we recommend itMike Fox has managed the strategy since November 2003, initially at the Co-operative Group until its acquisition by Royal London Asset Management in July 2013, making him one of the longest-tenured UK manages within the sustainable investment space. George Crowdy and Sebastien Beguelin who joined the group in 2020 support him as co-managers, along with four dedicated analysts. They are also supported by the broader investment team, which includes environmental, social and governance (ESG) specialists. The fund’s aim is to invest in companies that deliver a net benefit to society in terms of the products and services they provide or that show leadership in ESG management. The ESG approach is designed to be flexible and in line with a longer-term growth mindset. Fox primarily seeks to identify long-term growth opportunities that are underappreciated by the market, based on the belief that markets incorrectly fade long-term growth rates in certain circumstances. The team conducts Cash Flow Return on Investment (CFROI) analysis in order to understand value creation and what is already implied in current valuations. The fund shows a natural growth bias versus the FTSE All-Share Index. This search for growth is reflected in the manager’s willingness to include off-benchmark overseas names (up to 20%) in the fund. Success has been seen over longer time periods, but the biases in the approach can be detrimental when other factors drive markets such as in 2022. Opinion Sustainability criteriaMorningstar Sustainable Attribute: This fund is considered a sustainable investment product based on its prospectus or other regulatory filings. As a General ESG Investment, the fund uses ESG criteria as a central part of the security-selection and portfolio-construction process. These strategies endeavour to promote sustainability and minimise negative impact, without focusing on a specific theme or area of action. | ||
| Information and data compiled to March 2024. | ||
Risk warnings
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