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Ircantec

PRI reporting framework 2017

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 (Private)


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
          PRI
        
Conducted by
Asset class
Scope and process

During the selection process, we review if the manager is a signatory of the PRI.

Outcomes

Because our selection process is point based, managers that did not sign the PRI are given negative points.

Topic or issue
          Fiscal and financial transparency
        
Conducted by
Asset class
Scope and process

During the selection process, we review how transparent the candidates are, especially regarding there taxation level, regarding whether or not they operate in a non-cooperative State or territory and regarding whether or not the candidate or any entity of its group have activities related to tax evasion.

Outcomes

Because our selection process is point based, managers who aren't transparent, or operate in a non-cooperative State or territory, or or have tax evasion related activities are given negative points.

Topic or issue
          Implentation of ESG in the management process
        
Conducted by
Asset class
Scope and process

During the selection process, we assess the quality of the implemention and the monitoring of ESG in the management process.

Outcomes

The quality of the of the implementation of ESG takes a bit part in the global score attributed to the candidates.

Topic or issue
          Monitoring the adequation of the portfolio with Ircantec SRI Charter
        
Conducted by
Asset class
Scope and process

Twice a year, each portfolio ESG profile is assessed by a non-financial rating agency (Vigeo-Eiris), in regards to Ircantec SRI Charter. Average rating is considered, but poor scoring holdings as well as companies with heavy controversies are also flagged.

Outcomes

Our fiduciary manager is engaging with the asset manager to get its opinion on the holding and understand the rational behind.

12.2. Additional information.


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