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Ardian

PRI reporting framework 2017

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

Appointment

SAM 07.1. Appointment processes (listed equity/fixed income)

07.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment


SAM 07.2-5. Appointment processes (listed equity/fixed income)

07.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

          For the Fund of Funds activity, along with active dialogue with GPs, an ESG monitoring survey was developed in 2010 in order to raise awareness of ESG and evaluate their progress over time. This survey has been regularly sent to Ardian's GPs in order to address both primary and secondary transactions. Collected data allows to follow up on progress for each individual fund, and the ESG performance data is then stored in Ardian's database. This information also allows Ardian to establish an ESG benchmark for GPs. The ultimate goal is to encourage GPs to incentivize ESG integration by portfolio companies and improve extra-financial impact of portfolio over time.
        

Objectives

          The aim of the annual ESG Survey is to engage with our GPs on subjects that matter to Ardian on an annual basis. The results of this survey allow us to enter a dialogue with GPs on what can be improved and what is going well not only compared to previous years but also compared to their peers. This engagement takes place via phone calls or through the form of in person meetings.
        
          Ardian's objective is to help GPs with the integration of ESG at all phases of their investment process over time by helping them to identify weakness in their strategy and provide them with best practices (during individualized feed back sessions at GPs request) so that they can improve their performance over time.
        
          For primary investments, in order to ensure an alignment of interests, Ardian can seek to negotiate clauses in side letters barring investments in sectors banned the CSR Charter whenever it is deemed necessary. These side letters request that underlying fund manager acknowledges Ardian’s CSR Charter (which restricts investments in Firearms and Tobacco sector), commitment to the UN PRI as well as Ardian’s Responsible Investment Policy.
        

Incentives and controls

Reporting requirements

07.3. Explain how your organisation evaluates the reporting capacity of the manager to meet your reporting requirements during the selection process

Agree upon ESG reporting requirements

Review ESG reporting processes and capacity in place

Agree processes for raising ad-hoc ESG issues

Other, specify

None of the above

Private equity
Agree upon ESG reporting requirements
Review ESG reporting processes and capacity in place
Agree processes for raising ad-hoc ESG issues
Other, specify
None of the above

If you select any 'Other' option(s), specify

07.4. Explain which of these actions your organisation might take if any of the requirements are not met

07.5. Provide additional information relevant to your organisation's appointment processes of external managers. [OPTIONAL]

          
        

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