This report is a compilation of responses by asset managers on their environmental, social and governance (ESG) frameworks.  These managers responded to a voluntary 10-question CLO Manager ESG Framework questionnaire covering investment policy and process attributes in conjunction with our annual CLO asset manager handbook survey.  The questions are presented in the sample survey table on page 5.

Surveys were sent to all 117 managers that participated in our CLO Asset Manager Handbook (10th Edition); 70 opted to have their responses presented in ESG Considerations – Manager Responses to Fitch Survey tables at the end of their respective profiles in the Handbook.  Most survey participants are also included in this report along with additional write-in comments firms provided for context.  All of the information is presented as of year-end 2020.  Because many firms’ ESG frameworks are evolving, responses may account for more recent developments in some instances.

The comments provided by the managers in this report were taken directly from our returned  surveys and do not reflect Fitch’s opinion. The CLO ESG Survey Compendium, exclusive to our members, is password protected. The Open Password (case-sensitive) for the ESG Survey Compendium is: FitchRatingsESGCLO2021