Unibail-Rodamco-Westfield SE

Mirova IM’s investment research team focuses primarily on researching the most appropriate environmental, social and structural innovations so that they may form a basis of their investment decisions. Their geographic focus is on France. For listed equities, the firm invests in global companies that provide innovative solutions structured around major sustainable development themes. For real assets, they finance projects with strong yield potential, based on renewable energies and public-private partnerships. For impact investing, they seek to invest in non-listed companies with a strong social and environmental impact. Voting and engagement involves supporting investors in the exercise of their voting rights and the implementation of engagement actions. Mirova IM has created an original framework to analyze the economy through 8 sustainable investment themes: sustainable listed equities, responsible fixed-income products, renewable energy, public-interest projects within the framework of public-private partnerships, unlisted companies and structures with a strong social and/or environmental impact, supporting job creation, international microfinance and a multithematic offering (employment, social needs and housing, environment and international solidarity).

ACTIAM works with scientifically based goals and use an innovative, data-driven approach. They utilize a multi-dimensional strategy consisting of the concurrent use of various specializations. It includes an active duration and interest curve policy, supplemented by an active credit, rating and sector policy and an active debtor's policy which they combine to achieve alpha diversification. They construct portfolios using a top-down investment policy and a bottom-up debtor's policy. For the European market, the firm selects companies in the MSCI Europe Standard Index which score best from a financial, social, economic and environmental perspective. They construct portfolios using a bottom-up approach, evaluating value-determining factors such as value momentum and analysts' profit adjustments.

NORD LBAM utilizes active and passive strategies to manage their equity and pension funds.For equity fund management, the firm follows a passive portfolio strategy, seeking to replicate or optimize benchmarks as well as an active strategy for European blue chips (selected by dividend yield) and US equities. They employ tactical overlay strategies using derivatives as well as risk-oriented approaches (utilizing quantitative models and/or capital preservation strategies).For pension funds, they have core expertise in Euro zone bonds, focusing on government bonds, government-guaranteed bonds, covered bonds and corporate bonds. They follow a passive strategy, seeking to replicate or optimize benchmarks, flexibly weighting the bond market segments and employing risk-oriented approaches (utilizing quantitative models and / or capital preservation strategies).For balanced funds, they construct mixed equity and bond portfolios, focusing on actively managed Euro zone strategies and risk-oriented approaches (quantitative models and various value maintenance strategies).Their Investment Controlling team, consisting of mathematicians, economists and engineers, determines the risk management policy, employing daily value-at-risk calculations performed using historical simulation, including the rates of the previous year with a 99% confidence level and conduct stress tests daily. They measure performance by the Business Value Index and Return On Investment and perform attribution analysis with a proprietary IT solution.