Pyrford International [Pyrford] is delighted to release our inaugural Environmental, Social and Governance [ESG] report covering our work in this important area throughout the calendar year 2018. This report is publicly available on our website and we will be sending a copy directly to our clients on an annual basis.
Pyrford has been managing assets for over 30 years using the same, proven value-based fundamental process. We have always assessed companies over the long-term, seeking out those capable of generating earnings sustainably through the development of products and services which are valuable to their customers, hard to replicate and unlikely to be replaced. Central to the sustainability of a business is its relationships with suppliers, customers, employees and shareholders, along with its impact on the environment. Companies can survive for the short term-term, taking irresponsible approaches to these areas but to prosper companies must demonstrate leadership in each of these areas. This report will demonstrate how we encourage the companies we invest in to move to these positions of leadership.
To demonstrate our full commitment to the Financial Reporting Council's (FRC) UK Stewardship Code, we believe it is appropriate to report on this area in more detail, particularly on engagement and proxy voting.
We trust our readers will find the following paper useful and we would welcome comments and feedback for future editions. Furthermore, we would be delighted to meet with clients and indeed peers to engage on any of the issues raised.