TORONTO, May 11, 2021 /CNW/ - Foyston, Gordon & Payne Inc. (FGP) has launched the FGP Canadian Ex-Energy Equity Fund for investors looking for FGP's disciplined, long-term value investment management without exposure to energy companies. This fund replicates FGP's flagship Canadian equity strategy, excluding investment in the energy sector. The new fund's carbon intensity is 40% less than that of its benchmark, the S&P/TSX Composite Index.
"Clients who choose to invest in this fund will get the benefits of the same great FGP Canadian equity expertise, just without energy," said Bryan Pilsworth, President & CEO of FGP and leader of FGP's Canadian Equity Team. "We know that many investors are concerned with high fossil fuel exposures and the resulting carbon intensity, so our new fund will be geared towards those investors."
FGP also announced that its ESG initiatives earned the firm straight A's in the Principles for Responsible Investment's (PRI) 2020 assessment of investment managers around the world. The A's FGP earned from the PRI covered strategy, governance, equities, and fixed income. "I am very proud of everything our team is doing on ESG," said Mr. Pilsworth. For example, FGP was instrumental in convincing a major Canadian energy company to set meaningful carbon intensity targets. "Our ESG policy is to engage, monitor and report," said Mr. Pilsworth. "Within the Canadian energy sector, we have focused on greenhouse gas intensity targets as a key requirement for all industry participants. Simply put, we believe that every energy company should establish a credible path towards reducing carbon intensity with tangible mid-term goals and a long-term commitment in line with government policies. As long-term investors, we believe in working constructively with our portfolio companies to ensure that they are continuously improving."
More information about FGP's ESG policy and its PRI scores can be found here. A description of the FGP Canadian Ex-Energy Equity Fund can be found here.
SOURCE Foyston, Gordon & Payne Inc
Kimberley Woolverton, (416) 848-1936, [email protected], Gabriel Lopezpineda, (416) 848-1948, [email protected]
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