• As macro investors, we start with the big picture. We seek to identify the large external forces that can drive the performance of companies, asset classes and markets over time, and then distil these into a focused portfolio of investments that adhere to the strategy’s strict sustainability criteria.


• We seek to emphasise investment in companies that have better environmental, social and governance (ESG) credentials and/or offer sustainable products and services as part of their business. We exclude investment in unsustainable industries and activities.


• Our macro themes provide a framework to focus our research efforts, and they can be categorised as either secular or cyclical. Our secular themes capture structural trends and changes that are creating disruption between and within industries, or demanding new business development, such as the disruption to the energy and transport sectors resulting from action to address climate change. Our cyclical themes focus on shorter term macro cycles.

• We seek to reflect our clients’ values through a three-pillar approach to build a sustainable portfolio².
  
  

Integration of ESG risks into decision-making	Systematic exclusions based on client values	Positive positioning to sustainable securities
Consideration of ESG risks forms part of the security research and is factored into decision-making across the entire US$12.0 billion3 Macro Strategies platform.	Systematic exclusions4 are applied to certain industries and sectors to reflect our clients’ values and expected business practices.	We reflect our clients’ values positively, by tilting the portfolio towards companies and other issuers that rank better for sustainability than their peers.

• The Fund is a daily-liquid sustainable solution that invests in big picture themes and shorter-term cyclical changes that we believe are driving markets today.


• Our alternative strategies are designed to achieve specific client outcomes, and built to deliver uncorrelated return opportunities to traditional asset classes^1,2.


• The Fund also reflects many of the shared ESG values of our clients through the exclusion⁴ of certain industries and activities..

Provided for information only based on market conditions as of date of publication, not to be construed as investment recommendation or advice.

Diversification does not guarantee investment return and does not eliminate the risk of loss.

1. Provided for information only, not to be construed as investment recommendation. Investments involve risks, not all investment ideas are suitable for all investors.
2. For illustrative purposes only based on current market conditions, subject to change from time to time. Not all investments are suitable for all investors. Exact allocation of portfolio depends on each individual’s circumstance and market conditions. The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.
3. Source: J.P. Morgan Asset Management. Data as of 31.08.2021.
4. Current exclusions can be found on our website. Exclusion and inclusion criteria are subject to periodic changes without advanced notice.

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