Aperture aims to always put its investors first and this philosophy carries through our business, from the way we structure our incentive system to the way that we invest. We believe that, over time, careful consideration of responsible investment factors may improve outcomes for our investors and we are committed to integrating ESG factors into the research process in a thoughtful way. These factors may vary depending on investment themes, asset classes, and investment philosophies. We do not believe in standardized ESG frameworks and “one size fits all” approaches, so we deliberately give our investment teams autonomy and discretion in their investment processes.
The main purpose of our proxy voting is to promote and protect the rights and interests of our investors as shareholders. In furtherance of that goal, we are subscribed to proxy voting guidelines that take into account sustainability concerns.
In managing its funds, Aperture may consider one or more ESG factors alongside other, non-ESG factors in its investment decisions, but such ESG factors may be no more significant than other factors in the investment selection process, such that ESG factors may not be determinative in deciding to include or exclude any particular investment in the Fund’s portfolio (for the avoidance of doubt, some factors, like the ones in scope of Aperture's exclusionary screen, may be determinative). Even when ESG factors are considered, investments presenting certain ESG-related risks may be purchased and retained by the Fund because considerable discretion is given to the investment team in weighing ESG factors along with other factors in making investment decisions. As with the use of any investment criteria in selecting a portfolio, there is no guarantee that the criteria used will, in hindsight, result in the selection of investments that will outperform other investments or help reduce risk in the portfolio. Accordingly, use of ESG factors, like other economic factors, may cause Aperture funds to underperform funds that use different ESG factors or interpret or weight certain factors differently. Aperture funds’ use of ESG factors may also affect exposure to certain sectors, industries or geographic regions and may impact investment performance depending on whether such sectors or industries are in or out of favor in the market.