At Merganser, we believe in the traditional role of fixed income within an investment program and in the importance of safeguarding principal. We recognize that fulfilling our fiduciary responsibility to clients, and to positively contribute to the investment management industry involves incorporating Environment, Social and Governance (ESG) factors into our investment risk analysis. Consideration of these factors will likely also positively contribute to our global future. This approach is consistent across our investment styles and is not unique to certain products or segments of the market. As an active fixed income manager with expertise across corporate credit and securitized assets, incorporating ESG-related considerations into our underwriting process enables us to enhance portfolio returns, better protect against downside risk and position portfolios to prosper from potentially significant shifts as the global economy adapts to future technologies. Further, we believe that ESG considerations should not be viewed in a vacuum but as one set of factors to consider in the broader mosaic of an informed investment decision.

At Merganser we find ourselves frustrated and saddened by the systemic racism that persists in our country. We stand with all communities that face this persistent racism and injustice. But that is not enough. We need to ask ourselves and our broader communities how we can change, as people, as voters of elected officials, as communities, and as companies.

There is no easy, single answer but we are dedicated to the challenge. We as a company are committed to hiring and empowering a diverse workforce, with diversity expressed in many forms including race and ethnicity, gender and gender identity, sexual orientation, socioeconomic status, language, culture, national origin, religious commitments, age, (dis)ability status, neurodiversity and political perspective. We are committed to conducting our business without discrimination, bias or harassment. We will endeavor to provide a workplace that is welcoming and supportive; that creates a sense of belonging and values the contributions of all employees.

In building a more diverse, equitable and inclusive company we expect to achieve an environment where all employees can flourish. In this environment our diversity will contribute to improved business outcomes, including better employee retention and growth in assets under management, and bring new perspectives to the development of product offerings. We will work to foster a more diverse business community through our broker and vendor relationships. We are committed to ending prejudice and racism wherever we see it. We as a company and as individuals embrace the challenge of continuing these essential efforts for as long as there remain systemic forces that prevent equality for all.