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Avanz Capital

PRI reporting framework 2017

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


          Cambridge Associates Emerging Markets Private Equity & Venture Capital benchmark is the most appropriate for Avanz Capital to benchmark its investment managers against.
Often, we will calculate a Public Market Equivalent using private equity cash flows and simulate buying and selling the MSCI EM Index.


          Avanz Capital applies IFC Performance Standards to manage social and environmental (including labor, health and safety) risks, and to find ways to enhance the performance of companies through a variety of options including cleaner production, resource and energy efficiency, and improved environmental footprint. Together, the IFC Performance Standards, as revised in 2011, represent international best practices to which Avanz Capital and its Portfolio Funds and Portfolio Companies strive to adhere.
          Avanz Capital does not invest in:
• Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, PCBs, wildlife or products regulated under CITES;
• Production or trade in weapons and munitions;
• Entities engaged in the production and trade in tobacco or alcoholic beverages (excluding beer and wine) if contrary to local religious or cultural norms;
• Production or trade in radioactive materials;
• Production or trade in un-bonded asbestos fibers;
• Drift net fishing in the marine environment using nets in excess of 2.5 kilometers in length;
• Commercial logging operations for use in primary tropical moist forest;
• Production or trade in wood or other forestry products other than from sustainably-managed forests;
• Production, trade, storage, or transport of significant volumes of hazardous chemicals, or commercial scale usage of hazardous chemicals;
• Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous Peoples, without full documented consent of such peoples; and
• Production or activities involving harmful or exploitative forms of forced labor8 or harmful child labor.

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]