While Moerus is not an ESG Manager, ESG risks are evaluated and considered in making investment decisions. We believe that, although ESG factors alone are not sufficient to drive investment decisions, poor ESG practices are both ethically wrong and bad for business.

How our investment philosophy incorporates ESG:

• Our risk-based analysis seeks to understand how each potential investment approaches the three elements of ESG and what risks could be involved.
• Knowing that ESG issues can be very subjective depending on the viewer, we incorporate a holistic approach as opposed to a black-and-white exclusionary approach.
• We intend to view each potential investment’s unique elements and situations as an opportunity to think about broader issues when making long-term investment decisions.

In addition to our normal incorporation of ESG considerations, we can accommodate other requirements an investor may have within Separately Managed Accounts.