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UBS ETF (IE) S&P Dividend Aristocrats ESG Elite UCITS ETF (hedged to EUR) A-dis
Letzte Aktualisierung
16.03.2023
ISIN: IE00BM9TV208
Anlageklassen: Aktien
Kein nachhaltiges Investitionsziel
- It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20 % of sustainable investments with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
- This financial product is passively managed and tracks an Index, indicators for adverse impacts on sustainability factors are taken into account by the Index provider as appropriate to the Index family. Indicators for adverse impacts on sustainability factors are taken into ac-count by the Index provider as appropriate to the Index family
- The indices incorporate the MSCI ESG Controversies score, screening out on a timely basis any issuers in significant breach of ESG norms.
- MSCI ESG Controversies are designed to provide timely and consistent assessments of ESG controversies involving issuers. Any issuer with a “Red” MSCI ESG Controversies Score (score less than 1) is excluded from Sustainability indices. The Controversy Score measures an issuer’s in-volvement in major ESG controversies and how well the issuer adheres to international norms and principles
- The financial product exclude investments in companies involved directly in the use, development, manufacturing, stockpiling, transfer or trade of clus-ter munitions and/or anti-personnel landmines, nuclear weapons, biological weapons or chemical weapons.
- The MSCI ESG Controversies tool monitors company involvement in nota-ble ESG controversies related to the company’s operations and/or products, possible breaches of international norms and principles such as the UN Global Compact, and performance with respect to these norms and principles.
Ökologische oder soziale Merkmale des Finanzprodukts
- The following characteristics are promoted by the financial product:
- • tracks/tracking of a benchmark with a sustainability profile (ESG Score) that is higher than the parent benchmark’s sustainability profile.
- • a Carbon Intensity (1, 2) emissions indicator lower than parent benchmark (MSCI) The Reference Benchmark designated for the purpose of attaining the characteristic pro-moted by the financial product is the S&P Developed ESG Dividend Aristocrats Total Re-turn Net. The characteristics are measured using the following indicators respectively:
- • The FUND_ESG_QUALITY_SCORE
- • Weighted average carbon intensity (Scope 1+2) MSCI
Anlagestrategie
- This financial product seeks to promote the characteristic(s) described in this annex through Index selection and passive asset management. This financial product is passively managed and seeks to track the performance and the ESG profile of the Index. Sustainability characteristics and risks are considered as part of the Index selection process. The Index which is stated by the index provider to be screened against environmental, social or governance criteria and any methodology used by the index provider to assess sustainability characteristics and risks of the constituents of the index can be found on the website of the index provider.
- The following binding element(s) of the investment strategy are used to select the investments to attain the characteristic(s) promoted by this financial product:
- Characteristic 1): A sustainability profile (MSCI ESG Score) that is higher than the parent bench-mark’s sustainability profile.
- Characteristic 2): A Carbon Intensity (1 and 2) emissions indicator that is lower than parent bench-mark (MSCI)
- The calculations do not take account of cash, derivatives and unrated investment instruments.
- The binding element(s) are calculated at quarter end using the average of all of business days’ values in the quarter.
- Assessment of good governance practices of the investee companies is per-formed by the index provider. MSCI analysis begins with an evaluation of each company’s Corporate Govern-ance, taking into consideration the company’s ownership and control structures, the composition and effectiveness of its board, the effectiveness of its incentive prac-tices and the integrity of its accounting. Corporate Behavior is also monitored, in-cluding any controversies that might have a significant negative impact on the company’s value.
Aufteilung der Investitionen
The minimum proportion of the investments used to meet the environmental and/or social characteristics promoted by the financial product is 90%. The minimum proportion of sustainable investments of the financial product is 20%. The financial product tracks an ESG index and may replicate the performance of the index by the use of derivatives. Derivatives will only be used in case that a) the investment objective cannot be achieved by investments index components, in par-ticular in order to reflect the performance of a currency hedge where a sub-fund replicates a currency-hedged index, or b) to generate efficiencies in gaining expo-sure to the constituents of the index, in particular where there are legal or practical obstacles to gaining direct access to a market to which the index refers.The financial product may namely enter into a range of index related swaps (exclud-ing funded swaps) and derivative instruments (futures, forwards, currency swaps, p-notes, options, warrants and foreign exchange contracts) in order to replicate the index.
Methoden
The performance of the indicators used to measure the environmental or social characteristics promoted by the financial product are measured daily, assessed quarterly and reported annually.
Sorgfaltspflicht
Due diligence is carried out on index providers and/or data providers. This financial product is passively managed and seeks to track the performance and the ESG profile of the Index. Sustainability characteristics and risks are considered as part of the Index selection process.
Mitwirkungspolitik
In terms of passive strategies tracking sustainability indexes as is the case with this financial product, the engagement process helps us to identify companies where material ESG and sustainability factors may present a future negative risk. While the UBS AM engagement program is across all asset classes and portfolios, the impact on passively managed fixed income strategies might be reduced, mainly due to the lack of voting rights and that companies which failed in UBS AM's engagement process are typically not excluded due to the passive management style. Nevertheless, passively managed fixed income assets are part of the engagement with senior management, as all other assets the firm manages, in order to achieve the biggest possible impact.
Datenquellen und -verarbeitung
- The data sources used to attain the stated environmental or social characteristics are as follows:
- The MSCI ESG Score, supplied by the index provider
- Data is consumed from leading providers, processed in accordance with defined guidelines and supplemented with analyst reccomendation.
Beschränkungen hinsichtlich der Methoden und Daten
We apply a minimum coverage threshold for the data sources used to attain the stated environmental or social characteristics of the financial product, these thresholds ensure that the binding targets can be monitored and measured. Accuracy of data is dependent on 3rd party providers, coverage of data sources can be < 100% due to uncovered asset types, incomplete or inconsistent data and gaps in the coverage of these 3rd party provide
Bestimmter Referenzwert
- The financial product has initially selected the reference benchmark for its relevance to its investment strategy and the attainment of the characteristics it seeks to promote. The Index rebalances on an annual basis. More details on the index methodology applied by the index provider can be found below.
- The alignment of the investment strategy with the methodology of the index is ensured on a continuous basis as the index provider rebalances the index on a regular basis and the Investment Manager tracks the Index in line with the limits set out in the investment policy of Fund.
- The financial product has initially selected the reference benchmark for its rele-vance to its investment strategy and the attainment of the characteristics it seeks to promote.
- The investment strategy of the fund is to track the benchmark’s return and its characteristics, including ESG characteristics, as closely as reasonably possible.
- The investment manager reviews the index methodology when the product is set up and the Index provider may be contacted if the Index methodology is no longer in line with the investment strategy of the financial product.
- The Index is an equity index calculated, maintained and published by international index supplier S&P Dow Jones Indices and is denominated in USD. It tracks the movements large and mid capitalisation companies across developed markets.
- The index measures the performance of high dividend yielding / ESG-scoring companies that meet sustainability criteria as defined in this methodology, and meet the eligibility criteria defined in the S&P Developed Dividend Aristocrats® Index. Constituents are selected from eligible companies in the S&P Developed Broad Market Index (BMI) that have followed a managed-dividends policy of increasing or maintaining dividends for at least 10 consecutive years. Constituents are weighted by indicated dividend yield.
- At least 90% of the securities have an ESG rating.
- As the investment policy of the Fund is to track the Index, the portfolio management of the fund is passive. As a result, the approach taken in relation to the consideration of ESG criteria is the one taken by S&P and therefore dependent on the approach and methodology defined by a third party.
- The consideration of ESG criteria varies from one asset to the other because material key issues are industry-specific and do not affect all the assets equally. Consequently, S&P sets the weights that determine each key issue's contribution to the overall ESG rating, based on the level of contribution of the industry to environmental or social impact and the expected time frame for risk/opportunity to materialise.
- The Index rebalances on an annual basis. The rebalancing frequency will have minimal impact on the transaction costs associated with the Fund as any rebalancing is not anticipated to require any higher frequency of position turnover in the Fund than would otherwise be the case were the Index to be static.
- It is not anticipated that the composition of the Index will be adjusted to the extent that tracking is not possible within the scope of standard UCITS investment restrictions.
- Further details of the Index composition and its calculation methodology (including information on the procedure to be adopted by the index sponsor should the weighting of any particular stock exceed the permitted investment restrictions) can be found at the website set out below. The Investment Manager monitors the investment restrictions applicable to the Fund. As soon as the Investment Manager becomes aware that the weighting of any particular stock in the Index exceeds the permitted investment restrictions, the Investment Manager will seek to either unwind that particular position or reduce the Fund's exposure to that stock to ensure that the Fund at all times operates within the permitted investment restrictions and complies with the requirements of the UCITS Regulations.
- The methodology of the construction of the Index can be found in the fund supplement.
Disclaimer
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