Sustainable Minimum Exclusion Policy
For certain investment funds issued and managed by Allianz Global Investors (AllianzGI) that fall under the category “sustainability-focused and impact-focused” the following exclusions apply:
Please note, this Policy gives general direction regarding minimum exclusions for AllianzGI’s funds under sustainability-focused and impact-focused categories. Please refer to the relevant pre-contractual document (i.e. Prospectus) for fund specific information including exclusion criteria.
AllianzGI sustainability-focused and impact-focused mutual funds apply exclusion criteria for criteria for severe international standards and/or international regulations violators, companies involved in controversial weapons, companies that derive more than a certain percentage of their revenue from thermal coal extraction and utility companies that generate more than a certain percentage of their revenues from coal, companies involved in the production of tobacco, and companies involved in the distribution of tobacco in excess of a certain percentage of their revenues as shown below.
AllianzGI sustainability-focused and impact-focused mutual funds refrain from investing in:
International standards and/or international regulations
- Securities issued by companies severely violating principles and guidelines such as the Principles of the United Nations Global Compact1, the OECD Guidelines for Multinational Enterprises2, and the United Nations Guiding Principles for Business and Human Rights.3
Weapons
- Securities issued by companies developing, producing, using, maintaining, offering for sale, distributing, storing, or transporting controversial weapons controversial weapons including:
- Anti-personnel mines
- Biological weapons
- Chemical weapon
- Cluster munition
- Depleted Uranium weapons
- White phosphorus weapons and
- Nuclear weapons outside of the Non-Proliferation Treaty (NTP)
- Nuclear weapons inside of the Non-Proliferation Treaty (NTP)*
- Securities issued that derive more than 10% of their revenues from weapons, military equipment and services*
The last two exclusion criteria that are marked with an asterisk (*) will be removed from the standard exclusion criteria for SFDR Article 8 mutual funds going forward. For more information, please refer to the link.)
Coal
- Securities issued by companies that derive more than 10% of their revenue from thermal coal extraction.
- Securities issued by utility companies that generate more than 20% of their revenues from coal.
Tobacco
- Securities issued by companies involved in the production of tobacco.
- Securities issued by companies involved in the distribution of tobacco in excess of 5% of their revenues.
Direct investments in securities issued by sovereign issuers qualified with a score as “not free” by the Freedom House Index are excluded.
AllianzGI uses various external data and research providers for the above-mentioned exclusions. In certain circumstances, AllianzGI may override the information received from the external data provider. The override decision is made by an internal decision-making body which is composed of functions including Investments, Compliance and Legal.
1) More information can be found at https://www.unglobalcompact.org
2) More information can be found at https://www.oecd.org/corporate/mne/
3) More information can be found at https://www.ohchr.org/sites/default/files/documents/publications/guidingprinciplesbusinesshr_en.pdf
Investing involves risk. The value of an investment and the income from it may fall as well as rise and investors might not get back the full amount invested. Past performance is not a reliable indicator of future results.
This material is prepared by Allianz Global Investors and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. It is intended for information purposes only. Terms of Use of this website shall also apply.
This material is issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de). The duplication, publication, or transmission of the contents, irrespective of the form, is not permitted.
Allianz Global Investors, March 2025