Acting as a responsible investor is Phitrust’s raison d’être. This is the mission that its founders set themselves when the company was created:

“For more than 15 years, we have been trying to prove that it is possible to reconcile financial performance with social and environmental impact, by privileging dialogue with large listed companies and supporting non-listed projects led by entrepreneurs“.

Thus the appreciation of Environmental, Social and Governance issues is the foundation of the fund management company. The originality of Phitrust’s ESG approach is also based on its unique know-how in shareholder engagement, acquired by questioning the management of large listed companies on their strategic governance, particularly at general meetings. Because we believe that it is from the perspective of governance that shareholders can bring about sustainable changes in the environmental and social practices of companies.

The framework for our action as a responsible investor, which is expressed through our investment policy and our ESG shareholder engagement policy, is defined in our Responsible Investor Charter, which is based on the principles of excellence, transparency, long term, dialogue and independence.

Acting as a responsible investor is Phitrust’s raison d’être. This is the mission that its founders set themselves when the company was created:

“For more than 15 years, we have been trying to prove that it is possible to reconcile financial performance with social and environmental impact, by privileging dialogue with large listed companies and supporting non-listed projects led by entrepreneurs“.

Thus the appreciation of Environmental, Social and Governance issues is the foundation of the fund management company. The originality of Phitrust’s ESG approach is also based on its unique know-how in shareholder engagement, acquired by questioning the management of large listed companies on their strategic governance, particularly at general meetings. Because we believe that it is from the perspective of governance that shareholders can bring about sustainable changes in the environmental and social practices of companies.

The framework for our action as a responsible investor, which is expressed through our investment policy and our ESG shareholder engagement policy, is defined in our Responsible Investor Charter, which is based on the principles of excellence, transparency, long term, dialogue and independence.

Phitrust builds its action around a fundamental watchword: give meaning to your investments.

Since 2003, we have focused on the development of a responsible investment strategy with three complementary pillars :

Promotion of ESG best practices

Thanks to its dialogue with listed companies, Phitrust is the pioneer of shareholder engagement in France. Its expertise in terms of public initiatives (filing of resolutions, written questions) is unique.

Financing – Supporting projects with social impact

The investment firm Phitrust Partenaires and the Phitrust Endowment Fund for Social Innovation have been developing this approach since 2006. Phitrust is one of the leading private actors in France in the field of social impact investment.

Financing of innovative companies

Through its FCPI Phitrust Innovation funds, Phitrust Impact Investors finances and supports projects led by technologically innovative companies.

The funds of listed companies integrating our ESG investment policy and ESG shareholder engagement are the SICAV Phitrust Active Investors France and the FCP Phitrust Active Investors Europe FCP. They represent more than 80% of the assets under management of our UCITs.
Our investment company, Phitrust Partenaires, is entirely dedicated to socially responsible investment and all of the amounts invested are devoted to small and medium-sized for-profit companies that create a positive social and environmental impact.

Environment

■ Integrating environmental issues into the company’s strategy
■ Environmental reporting: communication of electricity/water consumption thresholds and measurement of the production of CO₂ / waste;
■ Independent external control;
■ The setting of targets to be achieved, in particular in the framework of the United Nations’ 2° scenario;
■ Monitoring the achievement of these targets;
■ Public health risks

Social

■ Taking social issues into account in the company’s development strategy ;
■ Safety at work ;
■ The well-being of employees;
■ The development of relationships with stakeholders (suppliers, customers, community involvement, etc.);
■ The development of solidarity projects:
→ Development of actions through foundations and grants from associations
→ Creation of products adapted to the needs of the poor

Governance

■ The rights of shareholders in general meetings: the respect of the principle of “one share, one vote”;
■ Management of boards of directors or supervisory boards: separation of powers, independence of the board and respect for minority rights;
■ Remuneration, the participation of managers and employees in the capital: transparency and fairness of remuneration;
■ Earnings distribution and use of capital: reasoned management of equity capital;
■ Approval of the accounts and management: integrity of the accounts and information;
■ Changes in capital: justified and balanced capital operations proposed to shareholders.

We have adopted the principles published by major international investors and the associations of which we are a member, in particular the International Corporate Governance Network (ICGN) and the Association Française de Gestion Financière (AFG).

Phitrust is also a signatory of the Principles for Responsible Investment (PRI) since 2007. Phitrust’s ESG incorporation policy directly responds to Principle n°2, in particular regarding the need to take action with issuing companies on strategic governance issues, including environmental and social issues. Moreover, Phitrust distinguishes itself among the SGPs by obtaining in the last “Assesment report” the maximum rating (A+ and A) on the modules Strategy & Governance and Direct & Active Ownership on the listed shares asset class.

Finally, our social impact investment company Phitrust Partenaires, a European Social Entrepreneurship Fund (EuSEF), also has public ESUS approval (Entreprise Solidaire d’Utilité Sociale) and the Finansol* label, which distinguishes solidarity savings products from other savings products for the general public.
*The Finansol label guarantees the solidarity and transparency of Phitrust Partenaires. The capital invested is not guaranteed.

Regarding the company

The information on ESG objectives taken into account in our investment and shareholder engagement policy is:
■ La stratégie d’investissement
■ La charte d’investissement
■ Les principes et pratiques d’engagement actionnarial
■ Le rapport d’engagement 2019

Regarding the funds

ESG information is available at any time in the KIDS and prospectus, in the description of the investment policy and the goals. In addition, subscribers receive this information every month in the monthly reporting factsheets, which detail in particular the shareholder engagement initiatives implemented on ESG topics in a dedicated section. The annual management reports highlight shareholder engagement initiatives on ESG issues in a dedicated section. Finally, the AFG FIR Transparency Codes, available for all funds on our website, provide detailed information on how the criteria for meeting ESG objectives are taken into account.

Phitrust has long been aware of the need to take into account social, environmental and corporate governance issues in its investment and risk management policy. Extra-financial criteria have been integrated into the investment process of the management company. The monitoring of portfolio companies at management committee meetings enables a systematic and long-term assessment of the risks and opportunities related to strategic governance and the proper conduct of operations, in particular the risks associated with social, environmental and governance quality criteria.

For more information on our ESG approach and criteria, you can contact the Phitrust team via contact@phitrust.com