During October 2019 the Ethical Partners Australian Share Fund returned -3.52% versus the S&P/ASX 300 Accumulation Index of -0.38%, underperforming the market by-3.14% (after fees). A small number of stocks contributed the majority of the underperformance during October and we detail our reasons for our positions and their outlook below. Over the last quarter the Fund benefited from an underweight position in Materials and an overweight position in Industrials. Key detractors over the last quarter included an underweight position in Health care and an overweight position in both Financials and Consumer Staples.
See full report attached.
Ethical Partners are pleased to see Australia take the next steps to implement mandatory climate reporting with the release of draft climate standards, which we provided feedback on.
Ethical Partners have continuously called for the provision of high quality, comparable data on company’s climate governance and carbon metrics, which we believe is imperative for investors to fulfil the potential of responsible investment.
Ethical Partners have been proud to have been active supporters of the TNFD Forum over the past few years, and to provide regular feedback on the development of the official TNFD recommendations, which were launched in December, as well as to be active members of the RIAA Natural Capital Working Group.