Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental, Social, and Governance (ESG)

Social Achievements

• Reduced net head count by 8 employees (or 22%) through redundancies and natural attrition since August 2014.

Governance Achievements

• Official launch of new brand platform, enhanced reporting and shareholder communication

Climate Goals & Targets

Environmental Challenges

• Market volatility and general market weakness globally
• Loss of FUM at RARE and Seizert
• Underperformance of Seizert, Nereus, Tamro, TIS, GVI, and Orion leading to impairment charges.

Mitigation Strategies

• Sale of a majority of its interest in RARE to Legg Mason
• Repayment of $62m of external debt
• Investments in Aperio Group, LLC and Strategic Capital Investors
• Synergy benefits from team consolidation and cost reduction.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental, Social and Governance (ESG)

Social Achievements

• Supported Third Link Investment Managers through the provision of investment and support services on a pro-bono basis, with all fees donated to the not-for-profit sector.

Climate Goals & Targets

Environmental Challenges

• Continued FUM losses at Seizert due to recent underperformance at the US boutique.
• Restructuring efforts designed to simplify and refocus the business.
• Changes of key personnel both at Board and Executive level.

Mitigation Strategies

• Restructuring initiatives, including changes to staffing, portfolio structure, carrying values, and reduction of material costs.
• Repositioning portfolio towards “sunrise” investments and divesting from businesses with lesser growth prospects.
• Investment in GQG Partners and Aperio Group.
• Restructured sales and marketing team, resulting in significant cost savings.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Governance Achievements

• Simplified legal structure improving shareholder alignment and financial transparency.

Climate Goals & Targets

Environmental Challenges

• Secular headwinds persist in certain market segments, most notably US active equity.
• Risk of management deciding to sell their equity, which can crystallize tax liabilities.

Mitigation Strategies

• Focus is on increasing diversification & reducing exposure to firms with revenues directly tied to equity markets.
• Targeting new investments in firms with “contractual” revenues.
• Up front diligence, including extensive reference / background checks are necessary to minimize the chance of investing in the wrong people.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Diversity
• Risk Management
• Ethical Conduct

Social Achievements

• Implemented a Diversity Policy covering gender, age, ability, ethnicity, marital/family status, religious/cultural background, and sexual orientation; includes recruitment practices, flexible work, grievance procedures, and training.

Governance Achievements

• Merged the Remuneration and Nomination Committee and the Governance Committee to form the Remuneration, Nomination and Governance Committee (RNG Committee); updated Risk Management Framework; established processes and procedures to ensure diverse candidate consideration in recruitment and selection.

Climate Goals & Targets

Environmental Challenges

• Volatility of global financial markets (systemic risk for funds management business).

Mitigation Strategies

• Strategic identification of diversified investment opportunities not linked to market movements or existing portfolio performance.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ASX Corporate Governance Principles and Recommendations 3rd Edition

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Modern Slavery

Social Achievements

• All 10 Key Vendors responded to the modern slavery survey, an improvement over prior years. 4 Key Vendors indicated that they have Modern Slavery Act programs in place, including all 3 new Key Vendors.

Governance Achievements

• Management reported findings to the Remuneration, Nomination and Governance Committee and the Board; the statement was made available on PAC’s website and reported to the Australian Border Force.

Climate Goals & Targets

Environmental Challenges

• Potential linkage to other firms engaged in modern slavery practices through vendors outsourcing to locations with less robust employment safeguards; vendors providing office services may use inappropriate employment practices; limited visibility into vendor outsourcing and employment practices.

Mitigation Strategies

• Annual review of Key Vendors’ modern slavery practices using a revised questionnaire; evaluation of Key Vendor questionnaire responses; vendor replacement where necessary; ongoing assessment of the effectiveness of PAC’s Modern Slavery Policy by the Chief Risk Officer.

Supply Chain Management

Supplier Audits: 10 Key Vendors surveyed annually

Responsible Procurement

• Revised questionnaire to elicit more information from Key Vendors with negative responses.

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• ESG risks are not considered material challenges to the Company's operations at this time.

Mitigation Strategies

• The Company does not impose ESG standards on the boutiques it invests in, believing the boutiques are best positioned to address such risks.

Supply Chain Management

Climate-Related Risks & Opportunities