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SASRIA (SOC) Limited

PRI reporting framework 2017

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Indicate what norms you have used to develop your investment policy that covers your responsible investment approach.

other (1) description

          Sasria supports the code of responsible investing in South Africa (CRISA) which gives guidance on how the institutional investor should execute investment analysis.
        

other (2) description

          Sasria supports the Principles for responsible Investment.
        

01.5. Describe your organisation’s investment principles, and overall investment strategy, and how they consider ESG factors and real economy impact.

Sasria's investment principles support the generation of long-term sustainable returns which is dependent on a stable, well-functioning and well governed ESG systems.

Sasria's investment beliefs support the code of responsible investing in South Africa as well as PRI

The overall strategy takes a wider view, acknowledging the full spectrum of risks and opportunities facing Sasria, in order to allocate its assets in a manner that is aligned with the short and long-term interests of Sasria.

Sasria strives to continuosly improve its approach to responsible investing by gaining a thorough understanding of the asset managers  responsible investing approach through annual due diligence reviews.

Asset consultants are requested to perform ESG benchmarking exercise to measure Sasrias performance.

Sasria engages with its asset managers on a regular basis to gain feedback on any discussions held with companies regarding environment, social and goverance aspects.

The Board has taken the decision that any voting rights accruing to Sasria in its capacity as a shareholder will be delegated to the asset manager in terms of the portfolio management agreement, except when otherwise instructed by the Board of Directors. Sasria monitors the proxy voting activity on its portfolio on a quarterly basis.

 

01.6. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].

Sasria's formal Investment policy comprises of the folowing;

Guidlines setting out the overall approach

Investment Philosophy

Investment principles

Investment guidlines

Investment strategy

Corporate Governance factors

Asset-class specific guidelines

Reporting

RI guidelines

Proxy voting rights

The URL has been provided in the fields above, refer to governance/investment policy


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Please see extract from Sasria's investment policy:

"The governance framework aims to clearly allocate and set appropriate segregation of responsibilities so as to ensure the effectiveness of the governance structures."

and

"The Board has authority and responsibility for safeguarding the investment of Sasria’s assets. The Board will always operate with integrity and transparency and will adhere to the Prudent Person Principle. Where appropriate, the Board will seek expert advice and may delegate functions to internal sub-committees."

"The Board agrees that conflicts of interest should be avoided where possible and same is governed by the Conflict of Interest Management Policy."

 

03.3. Additional information. [Optional]

Sasria as a registered Financial Services Provider recognises its obligations to those whom it deals with, namely shareholders, employees, customers, suppliers, contractors, agents and the community at large and that Sasria should maintain the highest ethical standard when carrying out its obligations.

Internal controls ensure the maintainence of the conflict of interest registers. A Compliance Officer together with the designated employee shall be responsible for monitoring and reporting on compliance with the conflict of interest Policy.

Quarterly reporting on level of compliance with the policy is reported on to the management governance committees, relevant board committees ( Investment committee), the Board and the Shareholder.

Sasria views its Conflict of Interest Policy in a serious light and failure by any employee to adhere to this Policy constitutes misconduct and may result in disciplinary action being taken against such employee in accordance with Sasria’s human capital policies.

This policy is one of the material policies reserved for Board approval and shall be subject to a review and approval process.


SG 04. Identifying incidents occurring within portfolios (Private)


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