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BT Pension Scheme

PRI reporting framework 2016

You are in Indirect – Manager Selection, Appointment and Monitoring » Overview


SAM 01. Role of investment consultants/fiduciary managers

01.1. 投資コンサルタントおよび/またはフィデューシャリー・マネジャーを使用しているかどうかを記載してください。

01.7. 補足情報。 [任意]

We do not have an investment consultant on retainer. We use investment consultants on an ad-hoc basis. For example, following from its 2011 study, the Scheme again sponsored Mercer in 2015 to undertake a study on climate change and asset allocation.

SAM 02. RI factors in selection, appointment and monitoring across asset classes

02.1. 外部で運用されるどの資産クラスについて、組織や投資コンサルタントは運用会社の責任投資要因を考慮しているかを記載してください。



(a) 選定

(b) 指名

(c) モニタリング


債券 - 社債(金融)



02.2. 運用会社の選定、指名、モニタリングプロセスに責任投資の検討事項をどのように含めているかを簡単に説明してください。

1. Portfolio design: what outcome should the mandate achieve for the Scheme?

  • We ensure portfolios align with our RI mission statement & beliefs
  • Assess materiality of ESG factors for the investment strategy under consideration
  • Assess the degree of ownership rights and ability to add value post-investment

2. Manager selection: which managers can best deliver the desired outcome?

  • We evaluate how managers incorproate RI (where relevant) and generate a score for each area including: strategy; investment process; reporting; legal agreements.

3. Ongoing monitoring: is the mandate still fit for purpose?

  • regular portfolio review meetings
  • clear expectations on the depth and quality of RI reporting required
  • review of manager ratings
  • escalation to the trustee where appropriate

02.3. 補足情報。[任意]

Our focus on manager RI evaluation is based on three quality metrics:

Integration- RI embedded in the process

Consistency- application of RI consistent with strategy

Evidence -of examples and process documentation