This report shows public data only. Is this your organisation? If so, login here to view your full report.

Munich Re

PRI reporting framework 2017

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

A) 実施:スクリーニング

FI 07. Types of screening applied

07.1. 実施するスクリーニングの種類を記載してください。

当てはまる項目を全てを選択してください
SSA
社債(金融)
社債(非金融)
証券化商品
ネガティブ/ 排他的スクリーニング
ポジティブ/業界最高のスクリーニング
基準に基づくスクリーニング

07.2. 組織内でアクティブ運用している債券に適用するスクリーニングのアプローチを記載してください。

Strict ban on buying bonds of companies that are on an internal "banned weapons" list. The exclusion criteria include companies that are suspected to deal with banned weapons or generate more than 5% of revenues with the production, trading or transport of banned weapons. The policy is applied to all investment funds.

Screening of sovereigns through MSCI rating: countries classified as "CCC" have to be avoided and pop up on an internal prohibition list. If a country is downgraded to "CCC" internal limits are set back to zero. This process is incorporated into MEAG front office systems, where a "pre-order limit check" runs before each transaction.

07.3. 補足情報 [任意]

In general, Fixed Income uses an ESG integration approach, meaning that credit analysts and portfolio managers incorporate ESG-criteria into the investment decision. In the case two investments have the same risk/return profile we prefer the more sustainable issuer.


FI 08. Negative screening - overview and rationale

08.1. ネガティブスクリーニングを実行する理由を明示してください。

SSA

SSA

社債(金融)

社債(金融)

社債(非金融)

社債(非金融)

証券化商品

証券化商品

08.2. 投資ユニバースから発行体についてESGベースのネガティブスクリーニングを行うアプローチについて説明してください。

Strict ban on buying bonds of companies that are on an internal "banned weapons" list. The exclusion criteria include companies that are suspected to deal with banned weapons or generate more than 5% of revenues with the production, trading or transport of banned weapons.

Screening of sovereigns through MSCI rating: All countries classified as "CCC" are on an internal prohibition list.

 

08.3. 補足情報 [任意]


FI 09. Examples of ESG factors in screening process (Private)


FI 10. Screening - ensuring criteria are met

10.1. 債券投資においてファンドスクリーニングの基準に違反がないことを確認するために組織が使用しているシステムを記載してください。

スクリーニングの種類
ネガティブ/排他的スクリーニング​
ポジティブ/業界最高のスクリーニング

10.2. 補足情報 [任意]

Negative/Exclusionary screening: For all investment decisions the investment manager has to consider the investment guidelines in advance. This process is supported by an automated pre-order limit check. Exclusionary ESG criteria are part of the pre-check application. In case of a limit breach the portfolio manager has to repatriate the transaction and write an internal note/statement. In order to avoid similar breaches in the future, the whole process is under constant review and adjusted where necessary.

Positive/Best-in-class screening: The portfolio manager has to ensure that the best-in class criteria are taken into account.

 


Top