HOOPP has a fiduciary duty to maximize – over the long term and within acceptable risk parameters – the Fund’s overall value. HOOPP’s commitment to socially responsible investing is consistent with this obligation. We believe that companies adhering to effective social, environmental and ethical standards are likely to be better managed and more successful over the longer term.

With these factors in mind, HOOPP:

• takes into account a company’s social, environmental and ethical principles when making investment decisions
• encourages reasonable disclosure of social, environmental, and ethical performance when voting proxies
• may enter discussions with companies where it feels that improved disclosure practices are required to reasonably assess the prospects for long-term shareholder value

In assessing a company’s social, environmental and ethical standards, HOOPP is guided by:

• the principles embodied in the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises
• The Coalition for Environmentally Responsible Economies (CERES) principles; CERES is a coalition of environmental, investor and advocacy groups that works with companies to achieve environmental improvement)