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  • SRI
  • In brief
  • Funds
  • Voting policy



Integrating ESG criteria into our company evaluations

Since 2007, extra-financial criteria have been incorporated into our company analyses for all our European funds. These environmental, social and governance (ESG) criteria improve our knowledge of the companies and help us to better evaluate our risks as investors.


Monitoring progress

Since 2013, an ESG action plan is drawn up for each company we meet detailing specific areas of improvement. Our goal is to motivate progress and endorse those companies who make every effort to improve.


Proprietary extra-financial analyses

Methodologies used for extra-financial criteria are rarely comparable. This is why our analyses are based on interviews specifically dedicated to ESG issues. The fund managers and Socially Responsible Investment (SRI) analysts carry out the interviews in partnership enabling them to form their own conclusions.

La Financière de l'Echiquier has confirmed its commitment by signing the PRI



An essential aspect of fund management

Since 2007, the analysis of ESG criteria has been an integral part of our company evaluation process. Interviews focused specifically on ESG matters are systematically carried out by a SRI analyst in partnership with the relevant fund manager. This gives us the opportunity to go deeper than the information disclosed to the general public.

A performance guaranty

  • Better knowledge of companies
    • A global overview of investment opportunities
    • Access to further contacts within the companies
    • A deeper understanding of the corporates cultures
  • Better risk and opportunity management
    • ESG analysis allows us to ascertain the companies that identify:
      • their extra-financial risks and put in place adequate systems to manage them
      • their opportunities Arising from taking environmental and social considerations


The cornerstone of the process: the ESG interview Research is carried out beforehand so that during the interview on extra-financial criteria we can put appropriately relevant and incisive questions to the company representatives. These are most often the CEO, the Head of Sustainable Development or the Financial Director but can also be specialists such as the Head of Procurement, Head of R&D or Head of HR. Site visits also enable us to see for ourselves how things work in reality.

A partnership between the fund manager and the SRI team The fund manager and the analyst who have built the investment case and taken the decision to invest know the company best. Their in-depth knowledge enables them to thoroughly understand and read between the lines of the extra-financial information presented to them. This information supplements the thematic and sectorial knowledge of the SRI team.

A qualitative and quantitative evaluation Corporate governance plays a significant role in our analysis. In addition, we take into account the specific elements applicable to each business sector.

Monitoring progress over time Beyond performance at a specific point in time, we attach particular importance to the dynamics of the environment in which the companies that we monitor are operating. In order to observe and forecast the extra-financial performance of the companies in which we invest, we conduct meetings to monitor progress achieved.


SRI team
Fund manager
Preliminary research
Interviews with the management
Identification of areas to improve
Post-interview rating
Follow-up meetings
Sources both internal external to the company
Specifically on ESG criteria
2-3 ESG targets to be monitored
14 criteria assessed
Monitoring of progress achieved



Clear policy with defined objectives

Actions taken and results

Supply chain monitoring on environmental aspects

Environmental impact of products


Employee engagement and talent management

Employee protection

Supply chain monitoring on social aspects

Product impact on health and safety

Interaction with civil society


Professional legitimacy

Managerial ability

Checks & balances

Fit with Stock Market expectations

Assessment of extra-financial risks


Our extra-financial approach, with a strong governance biais, is applied on all our European Equity funds. It is at the heart of the investment process for both Echiquier Major and Echiquier ISR in which additional commitments are embedded. Echiquier Major, labelled SRI by Novethic since 2013, invests in European growth leaders. Each stock in the portfolio has an internal ESG score of at least 6/10.

Label-ISR-documents-officiels Launched in 2010, Echiquier ISR invests in European stocks with no capitalization constraints for which the internal ESG score is at least 7/10. Some sectors, like tobacco, alcohol, weapons and fossil fuel producers are excluded from the fund’s investment universe.

Our voting policy

The team of fund managers and analysts are in charge of analysing resolutions presented by listed companies in which our funds are invested. The voting policy is drawn up together with the Socially Responsible Investment department.

Our commitment is reflected as follows:

  • Systematic consideration of resolutions put forward by the listed companies in which we hold shares
  • Voting Systematically above 1% of ownership
  • Publishing an annual report on how voting rights have been exercised

Our commitments

Principles for Responsible Investment (PRI)

We signed the PRI in 2008

Carbon Disclosure Project

We subscribed to the Carbon Disclosure Project in 2013

Association Française de Gestion Financière (AFG) Responsible Investment Commission

We are a member of the AFG's Responsible Investment Commission