ACRA has revised the ESG rating of Open-End Mutual Investment Fund of Market Financial Instruments "First — Global Internet" (hereinafter, the Fund) to ESG-E, level ESG-12, which corresponds to an acceptable assessment in the field of the environment, social responsibility and governance.
The rating has been revised due to certain changes introduced in the Agency’s methodology.
According to the Methodology for Assigning ESG Ratings, an acceptable assessment in the field of the environment, social responsibility and governance means that some ISSUES of environmental impact, social responsibility and governance are not considered.
Established in 1996, First Asset Management Company JSC is one of the oldest management companies in Russia. The total volume of assets under management as of September 30, 2022 was RUB 1.44 tln.
54% / 36% / 4.7% of the Fund’s portfolio are shares of companies that belong to industries with a low / medium/ high level of environmental risks, respectively. 47% / 45.4% / <1% of the Fund’s portfolio are shares of companies that belong to industries with a low / medium/ high level of social risks, respectively.
KEY ASSUMPTIONS
- Information presented in the questionnaire is reliable.
rating components
Final ESG rating: ESG-E.
Final level: ESG-12.
ESG rating determination: acceptable assessment in the field of the environment, social responsibility and governance. Some issues of environmental impact, social responsibility and governance are not considered.
E assessment: ESG-11.
S assessment: ESG-12.
G assessment: ESG-12.
ADDITIONAL INFORMATION
The ESG rating has been assigned based on the Methodology for Assigning ESG Ratings and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of its Rating Activities.
An ESG rating assigned to Open-End Mutual Investment Fund of Market Financial Instruments "First — Global Internet" was published by ACRA for the first time on December 30, 2021. The ESG rating is expected to be revised within one year following the publication date of this press release.
The ESG rating was assigned based on data provided by First Asset Management Company JSC, information from publicly available sources, and ACRA’s databases.
The ESG rating is solicited, and First Asset Management Company JSC participated the ESG rating process.
In assigning the ESG rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
No conflicts of interest were discovered in the course of assessment.
The assigned ESG rating is not a credit rating.
