BLI – Banque de Luxembourg Investments has signed the principles for responsible investment (PRI) backed by the United Nations.
As a result, extra-financial criteria will be included in BLI investment strategies, effective immediately. “Adding ESG to our research is a further step in our approach that makes sense, as it helps us get a better grasp on the companies in our investment universe,” said Thierry Feltgen, ESG project manager at BLI – Banque de Luxembourg Investments.
“Our investment approach, which we call “Business-Like-Investing”, involves (very) long-term stakes in quality companies with a clear competitive edge. For such a long-term approach to work on a sustained basis, it is necessary to grasp a company’s entire risk dimension as much as possible. And not all risks are purely financial in nature,” he added.
Feltgen outlined the firm’s approach consists in implementing its ESG concept gradually.
“In a first stage, we join with a proxy-voting supplier to work out an ESG-compatible voting policy, which we expect to implement this year. In multi-management the team aims for a deep understanding of external target funds, as well as all factors that will affect them, including ESG.
“Moreover, an in-house ESG committee has been set up that operates as a forum for discussion and decision-making. “With this in mind, we would like to emphasise that all decisions are made jointly with all teams involved and BLI fund managers. PRI principles are implemented in an ongoing and active process. We are taking this opportunity to be a part of this dynamic and are convinced that this will strengthen our proven investment process even further”, detailed Thierry Feltgen.
This UN PRI signature comes after BLI’s recent launch of a SRI and social impact version of its flagship BL Global Flexible fund, launched in June 2005 and managed by Guy Wagner, chief investment officer and managing director at Banque de Luxembourg Investments (BLI), in partnership with impact investing boutique Funds For Good.