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First State Superannuation Scheme

PRI reporting framework 2017

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

Overview

SAM 01. Role of investment consultants/fiduciary managers

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

01.1. あなたの組織では、投資コンサルタントや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明示してください。

01.2. 組織では、外部運用会社の選定、指名やモニタリングにおいて投資コンサルタントを使用しているかどうかを明示してください。

資産クラス

資産クラス

01.3. 組織では、投資コンサルタントの選定、指名やレビュー・プロセスにおいて責任投資を考慮しているかどうかを明示してください。

01.7. 補足情報。 [任意]


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

02.1. 以下に記載している外部で運用される資産クラスそれぞれについて、あなたの組織や投資コンサルタントは、運用会社の選定・指名・モニタリングのどのプロセスにおいて責任投資要因を考慮しているかを明示してください。 (a) 選定 (b) 指名(投資運用契約書の締結) (c) モニタリング

当てはまるものを全て選択してください

資産クラス

(a) 選定

(b) 指名

(c) モニタリング

上場株式

債券 - SSA
債券 - 社債(金融)
債券 - 社債(非金融)

02.2. 投資運用会社の選定、指名およびモニタリングプロセスにおいて、責任投資に関連して留意すべき事項をどのように組み入れているかを簡潔に説明してください。

Our asset consultant, Willis Towers Watson, helped us develop a questionnaire for new and existing managers to assess their responsible investment attitude and capabilities. Through this process Willis Towers Watson is fully aware of our position on responsible investment, and although they won't screen out or positively recommend a manager on this basis, they are aware of what is important to us and will frame their recommendation accordingly. Willis Towers Watson has been involved in our manager selection for our socially responsible option and throughout this process only recommended those with a known solid track record in the E, S, and G space.

Once a manager has been recommended a RFP is sent to the manager which contains a section on high level questions relating to E,S and G. Further down the due diligence process we then send a second E,S,G questionnaire, which is much more detailed and asks managers about their philosophy on responsible investment, how they integrate it, their capacity to integrate it and their alignment with our views on responsible investment. This questionnaire is used internally to rank and score managers so that the investment team is aware of how their manager is performing both in terms of financial return but also from an E, S or G perspective. It is envisioned that we will correlate financial performance with E, S and G performance to form an idea of how they affect one another- this however will only be possible once enough data is collected. The responses to the questionnaire are also used as a tool for engagement with the manager. The engagement that we have with a manager at the beginning serves us later on in the monitoring phase such that if in our internal screening process we find a company that scores poorly on an E, S, or G issue we can approach our managers to engage with the company, or if bad enough, to consider dropping from their portfolio.

When appointing managers, we also ensure proxy voting is included in the contract. Thus through proxy voting season we are in contact with our managers daily with regards to mostly governance concerns of a company. This regular contact ensures that our position on responsible investment is reinforced.  We are reviewing our IMAs at the moment to enhance our RI aproach and include reporting on engagement activities.

Every two years we send out our ESG questionnaire to existing managers so that even if they filled it out on appointment we can re-score them to see if they have improved or fallen behind. We use these scores as a basis for internal ranking and if necessary for further engagement on responsible investment issues.

02.3. 補足情報。[任意]


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