An overview of Peregrine's 2020 report into how the asset management industry can create stronger, clearer, ESG marketing content

1. MAKING A DIFFERENCE,
MARKETING A DIFFERENCE

2. Agenda Speakers
• We will introduce our 2020 ESG Report:
Making a Difference, Marketing a Difference
• Why asset managers are under pressure to
talk about ESG
• Why it is difficult for asset managers to really
differentiate around ESG
• What sets the best managers apart from the rest –
building campaigns for category authority
• How Peregrine thinks about White Space
• White Space FAQs
• Mega themes
• Case study: creating category authority in ESG
• Questions
Anne Gilding
Senior Adviser
Max Hilton
Managing Director
Josh Cole
Vice President, Head of Analytics
Hannah Beard
Account Director

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Making a Difference, Marketing a Difference: Our 2020 ESG Report
In our latest, 2020 ESG report:
• We assessed how 16 well-known managers are marketing
and messaging themselves in the context of ESG.
• We assessed which of these were best able to outperform
(relative to their size) when it came to dominating the ESG
conversation, both across social and traditional media.
• We analyzed more than 70 themes within the wider ESG
conversation to see where the are opportunities for
managers to really own areas of White Space.

4. Source: Global Investment Alliance, March 2019
$12T
$14.1T
$0.01T
$2.2T
$8.8T
$3.7T
2012
2018
Global
$30.7T
US
Europe
Japan
Growth in sustainable assets globally
• Our Global 100 report last year showed that two
thirds (61%) of the world’s largest asset managers
had static or declining brand awareness in 2019.
• In contrast with that metric, the graphic on the right
shows the sheer scale of the market opportunity
when it comes to ESG products.
• Differentiation is difficult and managers know they
need to communicate better on ESG:
- Driven by both pull factors;
- And push factors;
The challenge: why this report is needed by managers
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5. • Huge growth in supply of ESG content, both
across social and traditional media channels
• Huge growth in ESG content demand, both
across social and search
• However, the spread of that content is unequal,
and we tend to see bunching around a handful
of broad topics
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63
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ESG related content from asset
managers across Tier 1 media
Output in specialist ESG
and sustainability media
Searches globally for ESG
related content in 2019
Social media engagement
globally around ESG topics
Growth in supply of ESG content in 2019 (%)
Growth in demand for ESG content in 2019 (%)
Why is differentiation so difficult: growth in the amount of content
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Why is differentiation so difficult: topic over-indexing
The issue:
• A third (34%) of the 70 ESG topics assessed in this report are
“over-indexed” by the market.
• A large number of the Global 100 managers we’ve spoken to
say they are finding it difficult to know were they can input
meaningfully to the conversation.

7. • The best asset managers are able to own specific sections
within a wider debate and are really clear about where
their strengths lie.
• This will often manifest as a share of voice in the media that
outperforms their size (AUM).
• Schroders and Robeco are two very different examples
of outperformance.
• The best firms create “category authority” by focusing on 3
things:
− Defining their core strengths
− Finding White Space
− Building campaigns that are able to own the media landscape
and own online search engine real estate
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So, what does good look like?

8. Core
Capabilities
White Space Analysis
Content
Campaign
Campaign
Tracking
Example
company
ESG Data
Technology
ESG Taxonomy
Sustainability
Active Ownership
Private Equity
E.g. “How we’re working
with CEOs to make
progress on employee
renumeration.”
Do Loop
Competitor Intelligence
Keyword Difficulty
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Creating category authority

9. To help provide part of the solution for managers, we have
assessed more than 70 topics within the ESG conversation
to see which are most over-indexed and which are most
under-indexed by asset managers.
The White Space Framework Peregrine has designed for
this report aims to help marketers in three ways:
Show which themes within the ESG
conversation are over-indexed –
i.e. there is more content on these
topics than there is organic
audience demand.
Show which themes within the ESG
conversation are under-indexed –
i.e. there is less content on these
topics than there is organic
audience demand.
Allow marketers to match these
themes against their own priorities
and core ESG capabilities in order
to ensure their content campaigns
have maximum impact.
1 2 3
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Finding White Space: indexing the ESG conversation

10. • Are there other ways of finding White Space?
• What does your White Space scoring system mean in real terms?
• Why aren’t search White Space and social media White Space
scores always correlated?
• If something we’re really good at is listed as over-indexed in your
index, what should we do then?
• Does finding White Space really matter?
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White Space: FAQs

11. Social White Space
Search White Space
Several hot spots emerge where multiple
White Space themes overlap:
• Measurement and materiality
• Data, technology and supply
chain transparency
• Active ownership – ”ethical alpha”
• Product specific content:
e.g. private equity and ESG
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Mega themes

12. Robeco illustrates very well the three key steps of
category ownership: knowing your strengths, defining
the White Space approach and developing a
campaign based approach.
• Benefits from the authenticity of its approach
• Has heritage
• Continues to set best practice in terms of rigorous
self-assessment
Authenticity
Robeco launched its first sustainable fund in 1999,
more than twenty years ahead of this report. The
firm has been a signatory of the UN Principles for
Responsible Investment (PRI) since 2006. It is
always easier to be a thought leader when first
you have been an industry leader.
But Robeco’s authenticity is down to far more than
simply tenure and longevity. The firm submits
itself to PRI assessment, receiving A+ scores, and
since 2017 has even conducted an internal
assessment of its own PRI scores to ensure
maximum transparency.
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Case study: Robeco

13. The firm is really clear (both with itself and the market)
about where it perceives the White Space to be:
• By the second week of January this year the firm had
already issued “forward guidance” to the media on what
its key content and campaign themes would be this year
• In 2020, this includes, biodiversity loss, governance in
EM, decarbonisation and fair remuneration
• Not surprisingly several of these score well in our
White Space analysis
• Robeco even has a glossary of sustainable investment
terms which performs the dual function of providing
much needed clarity for investors while also ensuring that
the brand ranks well for the associated search terms.
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Case study: Robeco

14. The firm’s forward looking, campaign-based approach
has translated into real world category authority:
• Outperforms in terms of Tier 1 media Share of Voice
around the ESG conversation
• Owns a huge, disproportionate amount of the online
real estate associated with its core capabilities
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Case study: Robeco

15. • We’ve seen a huge increase in ESG related content in the last year
• Unfortunately, all too often this content is derivative and is
concentrated across a small number of possible topics
• Firms that want to win in creating category ownership – for ESG or
anything else – will need to focus on defining their core
capabilities, outlining their areas of White Space and build the
content and campaigns that will deliver against these goals
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In summary: our ESG report in a nutshell

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Q&A

17. • White Space framework is built to evolve over time
− Can be used to focus on particular regions or drill
down into more granular sub-themes
− Can be applied to any conversation – not just ESG
• We will also be releasing more ESG micro-reports
throughout the year—stay tuned!
• Early on in the summer we will be releasing our
latest Best Practice report, featuring culture and
firm’s response to Covid-19.
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Where we go from here

18. peregrinecommunications.com
© Peregrine Communications 2020. All rights reserved. Private & Confidential.
Max Hilton
Managing Director
+1 917 970 8827
max.hilton@peregrinecommunications.com
Josh Cole
Vice President, Head of Analytics
+44 (0) 20 3178 5439
josh.cole@peregrinecommunications.com
Hannah Beard
Account Director
+1 917 970 8822
hannah.beard@peregrinecommunications.com