ESG Policy

Policy as at:
01/03/2023

Overview

Marylebone Partners LLP (“Marylebone Partners” or “the Firm”) is an independent investment manager, authorised and regulated by the Financial Conduct Authority (“FCA”).  Our purpose is to protect and grow the wealth of our clients over the long term. Given a reasonable timeframe, we believe a sustainable investment mindset is consistent with good performance outcomes.  We are not prescriptive about the Ethical, Social and Governance (“ESG”) policies adopted by a company or external manager.  However, we expect to see well-considered policies that are consistent with our principles.  In our opinion, the best way of driving constructive change is through proactive yet pragmatic engagement. Our effectiveness is amplified because we manage a focused portfolio and enjoy deep, multi-year relationships with companies and external managers. 

Strategy & Approach

We build an actively managed global portfolio, to deliver a differentiated return stream to our clients. This comprises three main segments: 1) Special Investments; 2) External Managers; and 3) Direct Investments.  We apply the same core beliefs and values to engagement for all three segments.  With respect to our allocations to external managers and to special investments implemented through manager vehicles, we do not restrict ourselves solely to investing in dedicated environmental, social and governance (“ESG”) strategies, but ask managers to share their approach and, where relevant, their policies with respect to ESG, as part of our due diligence. We neither consider it constructive nor pragmatic to be prescriptive, recognising that each manager’s policy should reflect their distinctive strategy, values and culture. We appraise our managers’ ESG practices with respect to: 1) firm and team; 2) investment philosophy and process; and 3) portfolio outcomes. To do so, we draw on their formal policies, seeking to engage with the manager on any issues or opportunities that we identify as material.

With respect to our direct investments, we integrate the evaluation of ESG considerations into our research process. As long-term fundamental investors, we believe that long term investment performance and an awareness and appropriate management of ESG issues and opportunities go hand in hand. We focus primarily on large capitalisation stocks that can demonstrate top-line growth by serving growing markets, exhibit high levels of profitability and have strong balance sheets. These companies tend to operate responsibly and practise good governance. We appraise our companies’ ESG practices with respect to: 1) people and culture; 2) strategy and operating practices; and 3) governance and disclosure. To do so, we draw on disclosures by both the company and, where relevant, third-party data providers, seeking to engage with the company on any issues or opportunities that we identify as material.

We aim to vote on all proxies that are presented. We are responsible for voting proxies and taking decisions in connection with proxy voting of our direct equity investments. We work through Institutional Shareholder Services Inc. (“ISS”) Proxy Edge to manage the mechanics of our voting unaffected by their research or recommendations. 

Marylebone became a member of the PRI on 27 April 2022 to further its commitment to including environmental, social and governance (ESG) factors in investment decision making and ownership.  We support the UN’s Sustainable Development Goals by 2030 and Net Zero by 2050.

Contact details

For further information, please contact Marylebone Partners at [email protected] or call on 0203 468 9910.

Useful links

Company Website
ESG