Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Environmental Challenges

• Supply chain disruption
• Market rotation away from mid-cap growth stocks towards mega-cap stocks and more cyclical companies.
• Rising interest rates impacting valuations of high-growth companies.
• Concerns over rising interest rates and inflation.
• Supply disruption leading to persistent inflationary pressures.
• Chinese government intervention in internet stocks.
• Geopolitical volatility due to the invasion of Ukraine by Russia.

Mitigation Strategies

• Diversified portfolio across technology sub-sectors.
• Increased exposure to semiconductors.
• Exiting positions in Alibaba and Tencent.
• Monitoring stock market movements and considering hedging or other strategies.
• Maintaining regular contact with shareholders.
• Active engagement with investee companies on ESG matters.
• Focus on long-term growth drivers in technology.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Investment Week Investment Company of the Year Award 2021 – Specialist category
• Association of Investment Companies Shareholder Communication Awards 2021 – Best Report and Accounts – Specialist

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Environmental Challenges

• New natural resource demands emerging as technology expands.
• Impact of some technologies (e.g., social media) questioned by governments, regulators, and the public.
• Size and control of large technology firms questioned.
• Potential exacerbation of social inequality through unequal access to technology.

Mitigation Strategies

• Voya's due diligence approach to ensure service providers have an acceptable approach to ESG factors.
• ESG risk consideration embedded in the investment process.
• Long-term risk assessment enhanced through ESG integration.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Voya's due diligence approach to ensure service providers have an acceptable approach to ESG factors.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

Third-party Assurance: Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Environmental Challenges

• Rapid change in the technology sector with new and disruptive technologies placing competitive pressures on established companies and business models.
• Cyber risk of attacks resulting in loss of sensitive information or business disruption.
• Market risk of general decline in listed securities valuation or adverse market sentiment towards the technology sector.
• Currency risk of a high proportion of assets held in US Dollars while accounts are maintained in Sterling.
• Financial and liquidity risk of disruption to or failure of systems and processes utilized by service providers.
• Key individual risk of disruption due to loss of key individuals.

Mitigation Strategies

• Diversified portfolio by company size, sector, and geography.
• Regular review of investment performance and attribution analysis.
• Discussion of AI risks and opportunities with subject matter experts.
• Regular reports from service providers on operational issues, including cyber risks and controls.
• Monitoring stock market movements and considering hedging, gearing, or other strategies.
• Regular contact with shareholders to discuss performance and expectations.
• Regular reports from AIFM, Investment Manager, and third parties on internal controls.
• Succession plans in place for the Board and key personnel.
• Monitoring currency movements and determining hedging policies as appropriate (currently no hedging).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Voya has a due diligence approach to ensure any retained company or entity providing services to the Company has an acceptable approach to ESG factors.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UNPRI

Third-party Assurance: Not disclosed

Awards & Recognition

• Investment Week Investment Company of the Year Award in the ‘Specialist’ category (2023)