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ACTIAM

PRI reporting framework 2017

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

Outputs and outcomes

SAM 11. Percentage of externally managed assets managed by PRI signatories

11.1. Indicate approximately what percentage (+/- 5%) of your externally managed assets are managed by PRI signatories.

94 %

11.2. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          We discuss RI practices with existing investment managers periodically and seek improvements in performance. Engagement can be started to improve the manager's practices or contract could be terminated when targets are not met.
        

Measures

          It is part of our selection process. If all other factors are equal, we select the external manager with the best ESG performance.
        

11.3. Additional information. [Optional]

In 2016, 4% of all externally managed assets was managed by non-PRI signatories.


SAM 12. Examples of ESG issues in selection, appointment and monitoring processes

12.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Improved ACTIAM's ESG score framework for external managers
        
Conducted by
Asset class
Scope and process

All external managers were rated on ESG in a stricter way than before. Findings were discussed with managers.

Outcomes

More in depth discussion with managers on this topic and stimulation to improve on it. Stricter engagement with the managers. Also internal focus on improvement and discussion with our clients.

Topic or issue
          Selection of a passive Emerging Markets equity manager
        
Conducted by
Asset class
Scope and process

The required manager had to be able to work with the extended exclusion list ACTIAM has in place, and meet our criteria for external managers.

Outcomes

We selected the best manager in replicating the index and incorporating ACTIAM’s exclusion list, which was also a responsible investor itself.

Topic or issue
          Selection of an active US equity manager with a special emphasis on ESG integration
        
Conducted by
Asset class
Scope and process

The manager had to be able to incorporate ESG into his investment process and build a portfolio that scores significantly better than the benchmark on ESG and financial return.

Outcomes

An external manager was chosen to run a mandate for ACTIAM, who takes ESG into account and builds a portfolio that scores better than the benchmark on ESG.

Topic or issue
          Benchmarking exercise for an equity manager with the emphasis on financial return and engagement with small cap companies
        
Conducted by
Asset class
Scope and process

The current manager was benchmarked against competitors on portfolio management skills as well as engagement with the small cap companies it invests in.

Outcomes

The decision was made to stay with the current manager.

Topic or issue
          Engagement with money market fund manager
        
Conducted by
Asset class
Scope and process

A comparison of ACTIAM's exclusion list with one major US money market manager was done. It was identified that the manager invested in bonds from one company that is on ACTIAM's exclusion list.

Outcomes

The manager listened to ACTIAM's comments and it resulted in a sale of the aforementioned bond.

12.2. Additional information.


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