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Harvard University Endowment

PRI reporting framework 2016

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

Overview

SAM 01. Role of investment consultants/fiduciary managers

01.1. Indicate whether your organisation uses investment consultants and/or fiduciary managers.

01.7. Additional information [Optional].


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

02.1. Indicate for which of the following externally managed asset classes your organisation, and/or your investment consultants, consider responsible investment factors in investment manager: (a) Selection, (b) Appointment (investment management agreements/contracts), and (c) Monitoring

Select all that apply

Asset classes

(a) Selection

(b) Appointment

(c) Monitoring

Listed equity

Private equity

Property

02.2. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

ESG issues are integrated into HMC's operational due diligence framework, and thus are investigated and considered at the same time as other business-related risk factors.  As stipulated in HMC's  Sustainable Investment Policy ("SIP"), and as part of its operational due diligence framework,  HMC conducts desk-based due diligence on potential investment managers to understand how these managers address ESG issues and identify any ESG red flags.  HMC assesses how external managers integrate ESG risks into their investment approach, as well as how they communicate with limited partners.  HMC meets with investment managers to better understand their approach, and to ask specific questions related to ESG issues.  Where appropriate, HMC includes ESG issues in the investment fund term sheet.  HMC also monitors ESG performance on an ongoing basis and engages with investment managers to maintain oversight of these issues.

02.3. Additional information. [Optional]

HMC considers responsible investment factors in the selection, appointment, and monitoring of third-party managers for forestry, farmland, and hedge funds.


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