Our strict ACATIS Fair Value sustainability approach has been continuously optimised in collaboration with our research partners for more than 15 years. Our sustainability process consists of a total of six active filters.
 

• The first filter comprises standards-based screening. The main focus here is on whether the company complies with the UN Global Compact's requirements, such as prohibiting abusive child labour and respect for human rights. In the case of ACATIS Fair Value funds, this assessment is carried out not only at company level, but also within the supply chain.
   
• The second filter contains very important exclusion criteria that we do not tolerate under any circumstances, e.g. strategic armaments or fossil fuels. Any share of a company's turnover from these business areas will result in immediate exclusion.
   
• The third exclusion filter generally concerns business areas where we tolerate a threshold of up to 5% to avoid inadvertently excluding other industries. An example is gambling; a strict total exclusion would consequently disqualify a large portion of media and telecommunications companies.
   
• The fourth filter is the classic ESG filter. Here, we assess the areas of environment, social affairs and corporate governance. The results are recorded in the so-called ESG score. However, this now widely used ESG filter has the disadvantage that the data evaluated only refers to the past. This means that at the time of evaluation, we do not know how the company has positioned itself in the ESG areas for the future.
   
• This is where the fifth filter, the SDG filter introduced in 2019, comes into play. It examines whether the company is contributing to the UN's 17 Sustainable Development Goals. These important goals are intended to secure a future worth living for both us and future generations.
   
• As sustainable development progresses and SDG contributions for companies have increased significantly in recent years, we have introduced a sixth filter. This filter identifies companies that actually offer sustainable products or services (SDG Contribution Goods and Services) that help us achieve the 17 goals. 

Only about one-third of companies pass our filters. Once a company has passed all filters, it is included in our sustainability universe. The fund managers of the various ACATIS Fair Value funds are then free to choose from this universe.

In addition to companies, countries also undergo our sustainability process, of which approximately a quarter are investable. Different criteria apply here. Among other things, we consider the possession of nuclear weapons, the enforcement of the death penalty and the Corruption Perceptions Index.

Further information on our ACATIS Fair Value funds can be found on the website of our investment advisor Fair Value Investment.