0. Aberdeen’s Stewardship Capabilities
April 2017

1. Aberdeen’s Stewardship Capabilities
Active equities
Fixed Income
Property
Alternatives
Multi-Asset
Quant
Integrated
ESG
Fundamental - focused on identifying high- quality companies
Contrarian – disciplined on price
Active – act as co- owners of businesses, not traders
Blends multiple sources of value to diversify risk
Disciplined approach to determining fair value
Avoiding losers as important as picking winners
Bottom-up approach focussed on asset quality, not regional or sector allocations
Risk-focused
Local presence in all markets in which we are invested
Active management
Primarily via external manager allocations
Fundamental analysis to find best-in-class hedge funds, PE and real asset managers
Aims for consistent returns through the cycle
Unconstrained, open- architecture universe
Combines long-term strategy with short-term tactical opportunities
Top-down and bottom-up analysis
Systematic investments across traditional beta, smart beta and active quant
Focus on efficient portfolio construction, disciplined rebalancing and risk management
ESG is a key element of all analysis
Holistic company risk assessment carried out, including ESG factors
Engagement with management on risks, improvement and opportunities
ESG analysis embedded in fundamental in-house credit research
ESG risks categorised according to severity, allowing them to be priced appropriately alongside other credit risks
ESG factors a part of the investment process
Holistic risk assessment, including ESG factors
Engagement with key stakeholders on risks, improvement and opportunities
Due diligence of underlying managers’ ESG considerations
ESG metrics feed decision-making
Tailoring of portfolios to meet client ESG requirements
ESG based on underlying funds’ and managers’ ESG policies
ESG fully integrated into systematic investment processes at both universe construction and portfolio construction stages
Engagement on governance issues through proxy voting
Optional
SRI screens
Value or ethically-driven exclusions
Screening available across a wide range of criteria according to client needs
Not applicable
Screening based on third party ESG dataset can be offered
Screens in underlying products can be incorporated according to client needs
Controversial weapons and companies with severe controversies* excluded from investable universe
Thematic
Thematic investing can be offered in line with client demand
Thematic investing can be offered according to client needs
Focus on carbon exposure and climate risk
Funds or mandates can be weighted towards specific sectors or issues, according to client needs
Specific themes /sectors/issues in underlying products can be incorporated according to client needs
Specific themes /sectors/issues in underlying products can be incorporated according to client needs
SMARTER Beta™ capability includes ESG Multifactor Equity Index family, comprised of multifactor ESG indices for global, regional and local markets
* Severe controversies are defined as all Level 5 controversies according to Sustainalytics’ ratings

2. Important information
GR-DIS
Important information
For Professional Investors Only – Not For Use by Retail Investors or Advisers
The value of investments, and the income from them, can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to future results. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. We recommend that you seek financial advice prior to making an investment decision.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation, to deal in any of the investments mentioned herein and does not constitute investment research as defined under EU Directive 2003/125/EC. Aberdeen Asset Management does not warrant the accuracy, adequacy or completeness of the information contained herein and expressly disclaims liability for errors or omissions in such information and materials.
Any research or analysis used in the preparation of the information has been procured by Aberdeen for its own use and may have been acted on for its own purpose. Some of the information may contain projections or other forward looking statements regarding future events or future financial performance of countries, markets or companies. These statements are only predictions, opinions or estimates made on a general basis and actual events or results may differ materially.
No information contained herein constitutes investment, tax, legal or any other advice, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.
Third party websites provided by hyperlinks are completely beyond the control of Aberdeen Asset Management. Accordingly, Aberdeen Asset Management accepts no responsibility for the accuracy, completeness and legality of the contents of such third party website, or for any offers, services and products contained therein.
Issued by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered in Scotland No. SC Registered Office: 10 Queens Terrace, Aberdeen, Aberdeenshire, AB10 1YG.
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