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Harvard University Endowment

PRI reporting framework 2016

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You are in Indirect – Manager Selection, Appointment and Monitoring » Listed equity (LE) and Fixed income (FI) » Selection


SAM 05. Selection processes (LE and FI)

05.1. Indicate whether your organisation and/or your investment consultant typically do any of the following in the manager selection process for listed equity and/or fixed income.



Review the manager’s responsible investment policies

Discuss managers' governance and management of responsible investment activities
Meet staff with responsible investment responsibilities to assess their skills and competence
Discuss minimum responsible investment expectations that managers must meet
Discuss the role managers have played in collaborative initiatives 
Ask whether the organisation is a signatory to the PRI and/or other relevant organisations
Review the manager's responsible investment reporting to clients and/or the public, (excluding PRI)
Review the manager's PRI Transparency or Assessment reports
Discuss the type of ESG reporting you expect
Assign specific weighting to ESG factors in your manager evaluation
Other general aspects in your selection process, specify
None of the above

If you select any 'Other' option(s), specify

05.2. Please describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

Appointments to HMC's Board of Directors are approved by the President and Fellows of Harvard College. Ex officio members of the HMC Board include Harvard University’s President, Treasurer, and Chief Financial Officer, as well as the President of HMC. Other members of the Board, leaders in their respective fields, are selected for their investment, academic, and industry expertise, including familiarity with incorporating relevant material ESG risk factors into the investment decision-making process.  One recently retired Director, Sir Ronald Cohen, brought extensive experience in ESG integration and social impact investment to the Board. Although HMC's Board and individual Directors provide oversight of and insight to HMC's management and investment teams, they do not make investment decisions for the endowment.

Senior investment professionals generally are familar with incorporating relevant material ESG risk factors into the investment decision-making process within their asset class. During the reporting year, HMC's Chief Compliance Officer ("CCO") supervised all activities of HMC's Vice President for Sustainable Investment.  The CCO has experience in identifying relevant material ESG risk factors within the HMC portfolio and works with portfolio managers to monitor and manage these risk factors.

05.3. Provide additional information relevant to your organisation's selection approach for listed equity and/or fixed income. [Optional]