The environment for responsible investment continues to evolve, and in certain markets the debate surrounding ESG has become increasingly polarised. Our position remains unchanged. We focus on the environmental, social and governance factors that are financially material to the companies held in the Fund, and on the management of those factors in the long-term interests of our investors. Where third-party coverage of the smaller end of the domestic market is thin, proprietary research and direct engagement with boards and management become the means by which that view is formed. Our ESG report for the Maple-Brown Abbott Australian Small Companies Fund records both over the 2026 financial year.