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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
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.
It is part of our selection process. If all other factors are equal, we select the external manager with the best ESG performance.
In 2016, 4% of all externally managed assets was managed by non-PRI signatories.
Improved ACTIAM's ESG score framework for external managers
All external managers were rated on ESG in a stricter way than before. Findings were discussed with managers.
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.
Selection of a passive Emerging Markets equity manager
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.
We selected the best manager in replicating the index and incorporating ACTIAM’s exclusion list, which was also a responsible investor itself.
Selection of an active US equity manager with a special emphasis on ESG integration
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.
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.
Benchmarking exercise for an equity manager with the emphasis on financial return and engagement with small cap companies
The current manager was benchmarked against competitors on portfolio management skills as well as engagement with the small cap companies it invests in.
The decision was made to stay with the current manager.
Engagement with money market fund manager
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.
The manager listened to ACTIAM's comments and it resulted in a sale of the aforementioned bond.