Altum Capital Fund
PLEASE NOTE THAT APPLICATIONS FOR AID ARE NO LONGER ACCEPTED!
Financing for large and medium-sized companies* whose operations were adversely affected by Covid-19 and that are ready to transform their current business model or adapt to the new realities of life and business. The total amount of the fund is EUR 100 million; Latvian pension fund managers have also invested in the fund.
* the number of employees equals or exceeds 150 employees or annual turnover over the last year exceeds EUR 50 million and the total balance sheet for the last year exceeds EUR 43 million.
Annual reports
Principal Adverse Impact Statement
Scope
This disclosure is applicable to AIF Altum Capital Fund managed by JSC Development Finance Institution ALTUM.
The Sustainable Finance Disclosure Regulation (SFDR)[1] defines sustainability factors as environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters. Principal adverse impact is generally understood to mean the negative impact, caused by an investment decision or investment advice, on these factors.
This statement describes how we consider principal adverse impacts (PAI) of our investment decisions on sustainability factors, as per Article 4 of the SFDR.
This statement applies as of 31 December 2022. It will be reviewed at least annually.
Description of principal adverse sustainability impacts
Nearly all types of economic activity have potential to impact various sustainability indicators, both positively and adversely. PAI indicators are a way of measuring how investors negatively impact sustainability factors.
We aim to manage the risk connected to potential adverse sustainability impact from our investments in several ways, including via Responsible Investment screening criteria covering Environment, Social Capital, Human Capital, Business model & Innovation and Leadership & Governance dimensions, integration of ESG aspects in our investment decision process at Investment proposal stage, followed further at portfolio monitoring.
Evaluation of investment target’s ESG aspects as per ESG aspects materiality and impact model is included in Investment Memorandum subject for approval by Investment committee. Such practise is established for all investment proposals already as of July 2021. In case ESG aspects are scored at high risk level with limited risk mitigation activities carried out by the target company, no investment is approved.
The PAI indicators currently set and to be monitored and evaluated as of 2023 include:
The data for PAI indicators and/or calculations of PAI indicators are to be obtained from portfolio companies. They will be reviewed by ALTUM but will not be verified. ALTUM does the best to quality-assure PAI indicators accuracy.
[1] Regulation EU 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector.
