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Resolution Capital Limited

PRI reporting framework 2017

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 06. Types of screening applied

06.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by


Externally managed vehicles are discounted in our stock selection process due to the potential for the misalignment of interests between the external advisor and the vehicles’ shareholders.

Screened by


Internally managed vehicles are the standard in our portfolio construction.

We vote against excessive remuneration levels.

Further, property developers that embrace green building standards are favoured for their efforts to minimize their activities’ impact on the environment.

We screen for key environmental ratings and key metrics such as operating expense ratios, occupancy and rental rates as these are driven by tenants who demand efficient buildings and investors who seek to optimise long term outcomes for all stakeholders.

06.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

Identifying good corporate governance standards is central to Resolution Capital's security underwriting process. We have a long standing bias against externally managed vehicles due to the high likelihood of a mismatch in the interests of the manager and shareholders. Our quarterly commentary indicates changes in the portfolio, as well as the rationale for such moves. We identify and report adverse changes in corporate governance – both in structure and in policy – when they occur.

Resolution Capital keeps our investor interests paramount, and we support these interests through our voting record. In the past we have voted against proposed remuneration levels when deemed excessive or largely delinked from performance. For instance, we voted against an excessive pay package, granting options up to 10% of the issued shares, proposed at Hysan Development in May 2015. 

Our proxy voting record is also disclosed on our website


LEI 07. Processes to ensure screening is based on robust analysis

07.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

07.2. Additional information. [Optional]

LEI 08. Processes to ensure fund criteria are not breached (Private)