Shareholder Impact

Our engagement

mains

PHITRUST, AN ENGAGED INVESTOR…

 

Shareholder engagement for investors means to dialogue and engage with companies as to improve their understanding of their governance, as well as environmental and social issues. This engagement is reflected in a long-term investment, a direct and constructive dialogue with the directors and the exercise of voting rights in annual general meetings.

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… NOT AN ACTIVIST

 

Shareholder activism refers to the practices of investors seeking to generate a financial profit in the short term by influencing the governance and modifying the strategy of a company, by taking a significant stake in its capital. Their dialogue with the directors is rather one-sided.

Our funds

Products NAV 2020 Monthly factsheet KIID
Phitrust Active Investors France (C) NAV212.60 2020-21,05% Monthly factsheet KIID
Phitrust Active Investors France (A) NAV106.54 2020-21,24% Monthly factsheet KIID
Phitrust Active Investors France (D) NAV144.23 2020-23,26% Monthly factsheet KIID
Phitrust Active Investors Europe (C) NAV85.35 2020-9,26% Monthly factsheet KIID
Patrimoine Active Investors NAV108.25 2020-3,71% Monthly factsheet KIID

Our investment strategy

Phitrust Active Investors is a pioneer in shareholder engagement in France, promoting the best practices of listed companies in terms of governance, respect for the environment and social cohesion, and thus reconciling financial performance with positive impact of companies on society.

Phitrust manages a range of mutual funds and open-end investment companies which are invested in European equity markets on behalf of institutional and private investors. Phitrust has implemented management, quantitative and qualitative methodologies, based on commitment and impact that favour companies which have good Environmental, Social and Governance (ESG) practices and are willing to improve them by accepting dialogue with shareholders. Phitrust dialogues with companies listed on the CAC 40 and Eurostoxx indices, actively participates in their Annual General Meetings and exercises its voting rights.

Engagement themes

Fairness between shareholders:
respect of the “one share – one vote” principle


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No measures
protecting the firm’s capital


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Separation of management functions


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Executive compensations


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Business ethics


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The 43 resolutions filed by Phitrust

Engagement methodology

 

INVESTING IN COHERENCE WITH ITS VALUES

 

Phitrust engages actively with companies in its portfolios with the aim to making progress in controversial areas and improving their governance, environmental and societal practices.

This commitment is reflected in the dialogue with the executive management of the emerging companies and active participation in shareholders meetings that may include registering resolutions on controversial issues.

Principles of engagement

 

RESPONSIBLE AND COMMITTED SHAREHOLDERS

 

We have adopted the principles published by major international investors and the associations of which we are members, including the International Corporate Governance Network (ICGN) and the French Asset Management Association (AFG).

We focus our shareholder engagement policy around the three ESG themes: Environment, Social and Governance.

Our voting policy

 

Our voting policy is implemented in line with our principles. We participate or are represented at all the Annual General Meetings of the companies in which we invest.

Public offering imposes on companies a duty of transparent communication and fair treatment of their shareholders for the medium and long term, and to submit accounts at the annual general shareholders meeting. Shareholders can then collectively support or reject the resolutions presented.

After having defined with each of our investors a voting policy corresponding to its principles, Phitrust makes a recommendation to those who wish to participate in resolutions or amendments that have been previously discussed with each company.

These initiatives may include changes to be made by the board of directors (incentive initiatives) or a change in statutes (change initiatives).

Our network

Socially responsible investment consulting

 

For Phitrust, any investment strategy has to be defined according to the financial objectives you have set for yourself, as well as the ESG impact objectives that you have defined elsewhere.

 

We can help you to:

 

define the extra-financial principles and criteria that you would like to include in your investment strategy;

identify the impact on your investment policy if these criteria were already incorporated into your existing strategy;

measure associated risks to your investment strategy if these principles were not respected;

define the constraints to include in your specifications for the implementation of your investment strategy;

measure the results of the implementation of these principles and their impact, positive or negative;

choose fund managers with strategic plans that meet your objectives.

News

[Press Release] [Responsible Shareholding] Phitrust proposes to listed companies which intend to pay dividends for 2019 activity to amend the dividend resolution.

[Press Release] [Responsible Shareholding] Phitrust proposes to listed companies which intend to pay dividends for 2019 activity to amend the dividend resolution.

The SICAV Phitrust Active Investors France suggests to listed companies which intend to pay dividends for 2019 activity to amend the resolution by directing part of these dividends to the creation of a fund which goal would be to support their ecosystem stakeholders (including their subcontractors).

[Study] 15 years dedicated to responsible shareholding

[Study] 15 years dedicated to responsible shareholding

And what if we entered the era of committed shareholders! For more than 15 years, Phitrust has been committed to enhance the strategic governance and the environmental and social practices of large listed companies. Find out about 15 years of responsible shareholding!

[Press Release] Total – Phitrust Welcomes Advances On Environmental Issues

[Press Release] Total – Phitrust Welcomes Advances On Environmental Issues

On Tuesday, May 5, TOTAL announced new ambitions in the fight against climate change: the Group aims to become "carbon neutral" by 2050 for its global operations while committing to become "a net zero emission company in Europe" by the same date, an objective that concerns both its production and the products used by its customers (Scope 1, 2 and 3).

[Press Release] Total-Phitrust: a fruitful dialogue on environmental issues in view of the AGM of May 29th, 2020

[Press Release] Total-Phitrust: a fruitful dialogue on environmental issues in view of the AGM of May 29th, 2020

For several years (in 2011 and 2016 in particular), Phitrust has conducted an active dialogue with Total’s executives on the environmental and social impact of the company's activities. Its objective this year was to obtain a formalization of this dialogue in respect with multilateral agreements (the Paris Agreement) and changes in French legislation (the Pacte Law).

[Press Release] Vivendi’s annual general meeting – April 20th, 2020

[Press Release] Vivendi’s annual general meeting – April 20th, 2020

For several years, Phitrust has considered that Vivendi's governance is unsatisfactory and has submitted several written questions to the Management Board for the General Meeting of April 20, 2020. They are related to:

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