LBRTY Strategy Presentation by Philippe Bolopion 30 July 2025

Stewardship policy

TOBAM considers stewardship as a way to consider its shareholder and creditor position on behalf of its clients to influence investee companies, investors, the asset management industry and our clients. The objective is to take responsibility for long-term value creation, including the value of common economic, social and environmental assets.

TOBAM uses several tools to achieve an efficient stewardship policy and further integration of sustainability principles and good corporate governance in the companies in which it invests.

TOBAM’s Stewardship policy’s primary objective is to identify and influence investee companies under controversies or facing long term challenges and to use our shareholder and creditor responsibility as a way to further the dialogue and to influence best practices. Management of potential reputational, legal, environmental, social risks is the priority of TOBAM’s stewardship policy.

TOBAM uses General Assembly Votes, Engagement, Contribution to Public Goods (Research) and Public Discourse (media & Conferences) to enhance its stewardship responsibility, reach better understanding of investee companies’ policies, develop risk monitoring of controversies, sustainability and climate related risks and promote best practices.

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Sustainability integration

TOBAM’s Research team has built a proprietary methodology to construct the Sustainability Performance Footprint of each individual stock holding in our portfolios, hence the sustainability performance footprint of our portfolios.

Using officially published data from Bloomberg in order to monitor the sustainability criteria for all listed companies of our investment universe:

- Existence of climate change / biodiversity / energy efficiency policies ; green building, water and waste usage…
- Ethics/Equal opportunity/training/ consumer data protection/whistleblowing policies, CSR committee in place, supply chain management ….
- Number of board meetings per year, % independent directors, chairman tenure, % non-executive directors in board …

TOBAM’s is now integrating sustainability and has implemented this hard constraint to all our equity portfolio, in order to optimize portfolios so that they, at minima, match the footprint of their respective benchmark.

As usual, TOBAM’s integration efforts is built in parallel to significant research efforts to ensure that these new additions did not significantly impact the characteristics of our portfolio in terms of risk/return profile, as well as diversification structure.

TOBAM is currently working on integrating the sustainability performance footprint to fixed income portfolios.

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SUSTAINABILITY REPORT

SRI POLICY

ADVERSE SUSTAINABILITY IMPACTS STATEMENT

Exclusion policy

TOBAM offers a quantitative management approach which integrates socially responsible investment criteria via an exclusion list.

Applied to equity and fixed income strategies, respectively since 2007 and 2015, we are looking at Maximum Diversification® indices since 2011, this negative screening is based on the exclusion list published by the Norges Bank, a renowned investment institution and founding member of the PRI , as some other leading institutions.

This exclusion list involves controversial products ( Tobacco, Coal, Weapons ) and other controversial behaviors ( Human rights, Environment and International Laws, severe damages or breaches ).

We are committed to third parties, the industry and the investment companies as another crucial step towards the promotion and development of responsible investment.

Fossil-free focus on two strategies

TOBAM also applies a 100% fossil-fuel free approach to two of its strategies: Anti-Benchmark^® Emerging Markets Equity and Anti-Benchmark^®Global High Yield.

Companies with significant involvement in the production, sales or extraction of fossil fuels (including coal, coal power generation, oil and gas) are excluded from the investment universes of both strategies.

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EXCLUSION POLICY

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Select your country of residence

Your jurisdiction may not give you full access to the list of funds distributed by TOBAM, for more information please contact [email protected]

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the client service & business development team

The Client Service & Business Development team coordinates Client Service and Business Development from Paris and New York offices, and has been continuously expanding together with TOBAM’s AUM growth. The team evolves in a multicultural environment and currently includes members from Europe, America, and Asia.

The Client Service & Business Development team in Paris sits together with the Portfolio Management and Research Team which facilitates the cooperation and constant flow of information between the different teams.

Job Description

Involvement in the client service activity which includes:
Coordinate with IT to set-up customized client reports.
Ensure that client receive timely, quality, detailed information in line with their requirements and in a consistent manner.
Manage product-specific deliverables for external distribution channels.
Contribute on various ad-hoc projects to improve the Client Service and Business Development team operations.
Participate in Business Development process, including but not limited to, RFP content management, production of sales presentations, portfolio analysis, etc.
Other general marketing/sales support as needed.

The Candidate prerequisite

Top-notch business or engineering school.
English fluency and strong writing skills are required.
Strong computer skills: advanced in Excel,
Strong analytical skills, team spirit, proactive, attention to detail, keen to learn and learn fast.

Please send over your ENGLISH CV.

Contact

[email protected]

Tobam’s Research team comprises highly skilled mathematicians, engineers, economists & traders.

Job Description

The candidate will:

Share her/his time between academic research and internal quant research projects.
Demonstrate mental agility in a fast-paced, demanding environment.
Have the capacity to operate independently and flexibly.
Report to the Head of Research and the Deputy CIO.
Work out of our Paris office (with home office options)

The Candidate prerequisite

PhD in Physics, Biology, Math, Finance, Economy, …
Proficiency in Python or Matlab.
Excellent English writing skills.
Good general communication skills and team spirit.
Strong interest in financial markets

Definite plus: Strong Academic track record.

6-month Internship (from mid-June)

Pre-employment internship and possibility of Alternance

TOBAM, a quantitative asset management firm with assets approx. $10 billion and 51 professionals (as of December 2021), is currently recruiting an intern to join its Paris-based Client Service & Business Development team. The company offers innovative investment capabilities and provides institutional clients with diversified core equity exposure, both globally and in domestic markets. The firm has been experiencing a significant expansion, one of the largest in the industry, and is looking for a candidate who can contribute to its strong growth.

The Client Service & Business Development Team

The Client Service & Business Development team coordinates Client Service and Business Development from Paris and New York offices and has been continuously expanding together with TOBAM’s AUM. The team evolves in a multicultural environment and currently includes members from Europe, America, and Asia.
The Client Service & Business Development team in Paris sits together with the Portfolio Management and Research Team which facilitates the cooperation and constant flow of information between the different teams.

Job Description

Involvement in the client service activity which includes:
- Coordinate with IT to set-up customized client reports.
- Ensure that client receive timely, quality, detailed information in line with their requirements and in a consistent manner.
Manage product-specific deliverables for external distribution channels.
Contribute on various ad-hoc projects to improve the Client Service and Business Development team operations.
Participate in Business Development process, including but not limited to, RFP content management, production of sales presentations, portfolio analysis, etc.
Other general marketing/sales support as needed.

The Candidate

Top-notch business or engineering school.
English fluency and strong writing skills are required.
Strong computer skills : advanced in Excel,
Strong analytical skills, team spirit, proactive, attention to detail, keen to learn and learn fast.

Please send over your ENGLISH CV.

Contact

[email protected]

justin bécret, rising surf star

Born in Bayonne (South West of France) in 2001, Justin grew up with his feet in the sands.

Supported by his parents who 15 years ago, established the Natural Surf Lodge, between lake, forest and ocean. This environmentally responsible living environment, provides Justin with a beneficial and suitable structure for his training.

A native from the European capital of board sports, Justin has a great desire to travel the world (Australia, Tahiti, Hawaï, Denmark..) which he will be able to do upon being successful in joining the professional circuit, the CT.

In 2022, Justin has been selected to join the highly prestigious Rip Curl Pro Portugal event and is looking to participate to the Olympic games in Paris in 2024.

TOBAM is proud to support this young athlete, who remains humble and accessible. Go for it Justin!

If you want to learn more about Justin, please read “Life of a Surfer“

Carbon footprint reduction

Since the adoption of Norges Bank’s exclusion list in 2007, tobam has implemented a number of initiatives to further supplement its sustainable investment approach. tobam’s research department dedicates a significant amount of its time and resources to study the ways in which sustainable investment and ESG topics can be integrated into portfolios without disrupting tobam’s Maximum Diversification^®philosophy.

tobam’s research team carried out extensive research on the reduction of the carbon footprint of our portfolios via the implementation of a carbon footprint constraint compared to the market cap weighted benchmark of the investment universe.

Based on our findings, we demonstrated that a systematic reduction of 20% of all of tobam’s portfolios carbon footprint versus their respective benchmark has no significant impact on the portfolio’s risk/return profile, nor on its diversification benefits.

This relative carbon footprint reduction constraint was implemented in the portfolio optimization process, for all Anti-Benchmark^® equity portfolios since June 2018, to all Maximum Diversification^® Indices since September 2018 and to fixed income portfolios since June 2019.

We are really proud to have another beneficiary of the Initiative, Aurélia Boulanger, a very talented young triathlete.

Aurelia just graduated as an engineer, specialized in urban planning and sustainable buildings.

She started her triathlete career in 2018, and became the winner of the 2019 French long distance triathlon.

TOBAM is proud to support a female athlete, in a sport that is less prone to media attention but requires an absolute dedication and commitment to trainings and competition.

Her objective this year is to qualify for the Triathlon 70.3 World Championship, due to be held on December 2022 in New Zealand. This “half-Ironman” is a long-distance triathlon race consisting of 1.9km swim (1.2 mile), 90km bike (56 miles), and 21.1km run (13.1 miles) !

Aurelia’s dedication to her sport, trainings and objectives sets a high example for all of us. We are happy to support Aurélia for her future endeavours.

Discover Aurélia’s interview from April 2022

Good Luck Aurélia!