Oakham Wealth Management
Oakham Wealth is an established, fully authorised and regulated boutique provider of asset management services to investors based all over the world. Oakham Wealth joined the Net Zero Asset Managers Initiative in November 2021 and made an Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
80% of total AUM (USD $0.07 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
55% of portfolio companies setting a Science Based Target
Target(s):
80% of portfolio companies setting a Science Based Target
GHG scopes included:
Current financed emissions data covers scope 1 & 2 emissions for all companies and fund managers that report on it. We hope for this to become 100% of our covered portfolio by our target year as we further engage with our investee companies and funds. Scope 3 is covered where companies and fund managers are able to report on this information. This is an area in which we aim to further build out our approach and coverage over time as data coverage and quality increases. It is an area which we will soon require from our fund managers and their investee companies.
Methodology:
Science Based Target initiative for Financial Institutions
Scenario(s):
SBTi for Financial Institutions – Portfolio Coverage methodology.
Additional information
Proportion of AUM committed:
As a discretionary wealth manager, when we take on new clients, it is very likely that their transferred portfolios will hold what we call ‘legacy assets’ – assets which sit outside of our investment universe. We manage these in line with our sustainable investment approach, however, these assets may need to be sold down slowly to manage tax liabilities, market movements and other factors. We also leave a small amount of AUM out to cover assets in which the climate alignment methodologies are still not available or proven to robust, even if the assets are sustainable in nature. We also exclude cash and execution only clients who do not have a sustainable mandate. Our target AUM for coverage is 80%.
Policy on coal and other fossil fuel investments:
No. We have a formal policy in place for such exclusions via direct investments and engage with our fund managers on such topics where appropriate. Given our ethical and sustainable investment focus, we are very unlikely to hold any such assets and any held would be based on a rigorous transition argument.