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Stichting Spoorwegpensioenfonds

PRI reporting framework 2017

You are in Strategy and Governance » Implementation not in other modules

Implementation not in other modules

SG 12. ESG issues in strategic asset allocation

New selection options have been added to this indicator. Please review your prefilled responses carefully.

12.1. Indicate if your organisation executes scenario analysis and/or modelling in which the risk profile of future ESG trends at portfolio level is calculated.

12.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

12.3. Additional information. [OPTIONAL]

We do not have an official scenario analysis and modelling strategy. However, we do take into account ESG considerations that are integral to a specific asset class. We, for example, regularly research (based on third party sources) the role of commodities in food price inflation.

Additionally, we take into account ESG considerations in our sector allocations. Although, due to our special investment strategy, we cannot over- or underweigh certain sectors, we can exclude a sector in its entirety or decide not to invest in specific subparts of a sector. Recently we have investigated the oil and gas sector and changed the composition of our internally managed equity portfolio based on our conclusions.


SG 13. Long term investment risks and opportunity (Private)


SG 14. Allocation of assets to environmental and social themed areas

New selection options have been added to this indicator. Please review your prefilled responses carefully.

14.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

14.2. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

30 % of AUM

Brief description and measures of investment

- Funds that invest in both "normal" infrastructure as well as renewable energy projects in the infrastructure portfolio

- Green bonds in our fixed income portfolio

67 % of AUM

Brief description and measures of investment

The internally managed real estate portfolio observes a strict environmental policy. All buildings in our portfolio observe strict environmental criteria and renovations are conducted with respect for the environment. Instead of breaking buildings down, we, for example, have renovated buildings by completely stripping them and rebuilding it in a more environmentally friendly way.

Over 65% of the companies in our portfolio have a green EPA label (A+ - C). Almost 35% have EPA label A(+) or B.

0 % of AUM

Brief description and measures of investment

A new fund focused on sustainable agriculture was selected in 2015. The first commitment will be drawn in 2017.

40 % of AUM

Brief description and measures of investment

The Spoorwegpensioenfonds participates in three microfinance funds of Actiam and DWM. The funds aim to include small self-employed entrepreneurs and farmers in developing countries in economic activity. The fund provides debt funding to MFIs in developing and transition countries. The MFIs in turn lend the money to end users - the micro-entrepreneurs and farmers. https://www.actiam.nl/en/product-services/microfinance-funds

Microfinance is part of the impact portfolio.

60 % of AUM

Brief description and measures of investment

On behalf of the Spoorwegpensioenfonds, SPF Beheer has been involved in the set-up of an sustainable agricultural SME fund. The Annona fund invests in Africa and Latin America in SMEs. http://www.annona.nl/en/ The Spoorwegpensioenfonds currently has a big stake in this fund.

Also the Spoorwegpensioenfonds participates in the Actiam-FMO SME Finance Fund. This fund aims at channeling institutional investment capital to the SME sector in developing and emerging countries. https://www.actiam.nl/en/product-services/sme-finance-fund

In 2015 the Spoorwegpensioenfonds has won the FD/IPN awards for best long-term investment. This award is given to the investor with the best long-term investment strategy that realizes both financial as well as social returns. In 2014 the investment in the Actiam FMO SME fund was the winner of the award.

SME financing is part of the impact portfolio.

% of AUM

Brief description and measures of investment

Several property projects include social housing. It is hard to define the exact percentage of the total portfolio because in general social housing provision is part of a broader plan. Social houses, for example, are build on top of shopping centers.

2.5 % of AUM

Brief description and measures of investment

The fund invests in day-care centers. http://www.kidafo.com/

14.3. Additional Information [Optional]

          
        

SG 15. ESG issues for internally managed assets not reported in framework (Not Applicable)


SG 16. ESG issues for externally managed assets not reported in framework (Not Applicable)


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