Phillip Capital Management signs on to UN-supported Principles for Responsible Investment and pledges support for Task Force on Climate-related Financial Disclosures

PCM becomes a signatory of the UN-Supported Principles of Responsible Investment

PCM also joins more than 2,800 organisations around the world in publicly supporting the TCFD and its recommendations

Singapore, 22 December 2021 – Phillip Capital Management (“PCM”) has become a signatory to the UN-supported Principles for Responsible Investment (“UN-supported PRI”), the world’s leading proponent of responsible investments with an international network of over 4,600 investor signatories. The UN-supported PRI stands on the premise that asset managers have a duty to act in the best long-term interests of their investors and therefore need to give appropriate consideration as to how ESG issues can affect the performance of investment portfolios.

PCM has selected principle-endorsed frameworks and standards for its research and investment process, and will use the UN-supported PRI guidelines to revise investment policy and develop investor-targeted reports that provide insight to its performance, decision-making and ESG integration approach.

“We believe that the way a company manages ESG issues reveals its quality and ability to compete successfully in a rapidly changing world. It is our fiduciary duty to thoroughly recognise the importance of assessing these risks and opportunities through longer term horizons.

“By adopting and implementing the internationally-recognised principles for responsible investment, we aim to contribute to a more sustainable financial system and strengthen investor trust as we work towards greater transparency and accountability.” said Mr. Stephen Beng, PCM Head of ESG Strategy.

David Aitken, CEO at the Principles for Responsible Investment, said: “We’re very pleased to welcome Phillip Capital Management as a PRI signatory. Fund managers play an important role in the advancement of sustainable investment, and in joining PRI Phillip Capital Management is recognising the importance of ESG factors to its retail and institutional clients. We look forward to working with the team.”

PCM is also committed to managing its assets in line with net zero emissions and publicly declared support for the Task Force on Climate-Related Financial Disclosures (“TCFD”) and its recommendations. The TCFD’s framework allows the firm a vantage point to measure and monitor material climate-related financial disclosures that are consistent and comparable.

The Task Force recommends principles for effective disclosure to help achieve high quality reporting that enables users to understand the impact of climate change on organisations. TCFD is supported by more than 2,800 organisations globally.

Mr. Stephen Beng added: “Getting the world on track for 1.5°C requires a surge in annual clean energy investment estimated by the IEA at US$4 trillion by 2030.We want our investments to reinforce companies that are aligned to a low-carbon economy, but also reward those that choose a just and nature-positive pathway.

“Our clients depend on our reports to gain understanding on how climate-related risks and opportunities are managed within our portfolios. We rely on TCFD to help us address these considerations.

“Through responsible investments, PCM is determined to drive positive change for people, planet and prosperity by managing outcomes based on this triple bottom line.”

About Principles for Responsible Investment:

The Principles for Responsible Investment (PRI) is the world’s leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 4,500 signatories, managing over $121 trillion AUM.

About Phillip Capital Management (S) Ltd

Incorporated in 1999, Phillip Capital Management (PCM) is a fund management company with network across the region including Singapore, Australia, Hong Kong, Indonesia, Thailand, and United Kingdom. PCM’s products and asset classes include unit trusts and segregated discretionary portfolios investing in equities, bonds, money market and private equity. PCM serves clients including private banks, insurance companies, tertiary institutions, sovereign wealth funds and Singapore government agencies and has approximately SGD 2.8 billion (Oct 2021, unaudited) of assets under management.

A member of PhillipCapital, PCM has an established track record managing funds investing in the Asia Pacific region and globally, having won fund awards from Standard & Poor’s and Lipper since 2003.

The funds managed by the Company include the following: Phillip MSCI Singapore Daily Leveraged & Inverse Products, Phillip SGX APAC Dividend Leaders REIT ETF (2016 Most innovative ETF by SGX), Phillip SING Income ETF, Phillip SGD Money Market ETF, Phillip Singapore Real Estate Income Fund, Phillip Global Opportunities Fund, Phillip Global Quality Fund, Phillip Global Rising Yield Innovators Fund, Phillip Money Market Fund, as well as Phillip US Dollar Money Market Fund. The Phillip Money Market Fund is the largest retail Singapore Dollar money market fund today.

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