Speaker 1: You're listening to a share these podcast as an ethical
Speaker 1: fund manager, to expect that your investors aren't just looking
Speaker 1: for return, They want you to vocalize that and the
Speaker 1: kind of votes that you make or the kind of
Speaker 1: communications you have with the company.
Speaker 2: And the way we talk to companies, the way we invest.
Speaker 2: And that's a challenge from the perspective of there is
Speaker 2: no perfect company. So every company you invest in has
Speaker 2: both got attributes and bad attributes, and you need to
Speaker 2: make trade offs between the two. And I'll give you
Speaker 2: an example of Tesla. So Tesla we invested in years
Speaker 2: ago because we loved the mission of Elon Musk to
Speaker 2: essentially drive decarbonization not just the car you have in
Speaker 2: the garage, but of transport. And so he was leading
Speaker 2: in the transport in the decombanization, electrification space.
Speaker 1: And apouting batteries in just about every driveway. Right, So
Speaker 1: that's a whole other thing that's happening too.
Speaker 2: Yeah, so there's a powerful drive. But you look at
Speaker 2: the company from an ESG perspective, like governance, pretty bad governance, right,
Speaker 2: person who's who's controlling the show and is always going
Speaker 2: to lead trouble in large companies environmental and social issues
Speaker 2: around supply chain, for example, and where you get the
Speaker 2: rear earth and minerals from. We sort of weighed that
Speaker 2: the mission, you know, outweighed the the ESG harms. But
Speaker 2: more recently we've said, actually, other car companies are now
Speaker 2: catching up to Tessa and have followed that leadership. We
Speaker 2: don't need to invest in the company with the concerns
Speaker 2: we have around so where she sold it.
Speaker 1: Earlier this year, you have sold all your testa yeah, wow, yeah,
Speaker 1: what are you buying?
Speaker 2: What are we buying? Oh, look, we've got you know,
Speaker 2: there's there's plenty of tech companies, you know mag seven,
Speaker 2: There's fantastic opportunities there. But Tesla is no longer in
Speaker 2: the portfolio. Wow.
Speaker 1: Big moment.
Speaker 2: Investing involves the risk you might lose the money you
Speaker 2: start with. We recommend talking to a licensed financial advisor.
Speaker 2: We also recommend reading product disclosure documents before deciding to invest.