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Pensionfund Metalektro (PME)

PRI reporting framework 2017

Export Public Responses

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Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Indicate what norms you have used to develop your investment policy that covers your responsible investment approach.

01.5. Describe your organisation’s investment principles, and overall investment strategy, and how they consider ESG factors and real economy impact.

The strategic Investment Framework of PME exists of a chapter on the investment objectives, a chapter on Investment Principles, a chapter on Execution Principles and a chapter on Risk Management Principles.

Considerations of Responsible Investment are interwoven in the several chapters. In the Investment Objectives, PME states in the Mission that "PME takes care of an affordable, future-proof and flexibel pension for all of the participants." This resounds in the Investment Principles, where one of the principles states that "RI contributes to sustainability and stability of the profitability"

In de more specific Execution Principles, PME has her "10 Leading Principles on Responsible Investment" including: (this form only fits a couple):

  1. PME is aiming for a good ánd responsible performance.
  2. PME takes into account the social impact of her investments.
  3. PME want to contribute to economic stability and sustainable ecenomic growth.
  4. PME engages companies that are responsible for bribery, corruption, and with companies that violate norms in terms of environment, labor or human rights.
  5. PME does not invest in companies producing products that are contrary to international treaties signed by the Dutch government.

01.6. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

PME's policy is operationalized via four pillars: Exclusion, ESG-integration, Active Ownership (engagement, proxy voting and legal actions) and Thematic/Impact Investments. Our fiduciary manager MN (also a PRI-signatory) has a dedicated Responsible Investment& Governance team (6 members) that is responsible for all these activities.

Exclusion: PME excludes companies that are directly involved in the development, production and/or maintenance of products and/or services that are not compliant with certain treaties and criteria, such as the Convention on cluster ammunition, Chemical Weapons Conventions and Biological and Toxin weapons Convention. In addition international treaties signed by the Dutch Government, and countries which have been sanctioned by the UN and EU are excluded.

ESG integration: PME believes that responsible investment is first and foremost about taking ESG factors into account in all investment decisions and in selection and monitoring of external managers.

Active ownership:

PME believes in the co-existence of financial and social return on investments. On one hand it is our aim by conducting engagement on holdings to limit the potential negative impact of business on the environment, people and society and corporate governance (ESG). On the other hand, we also aim to leverage the potential positive impact of business within these same three themes (ESG). The key-objectives for engagement are that companies acquire the ability:

  • To fully participate in the low-carbon economy energy transition (E);
  • To protect the human and labour rights of workers in the global supply chain (S);
  • To reward company executives according to an adequate and balanced remuneration scheme in line with the interests of (minority) shareholders (G).

MN operates on PME's behalf on the basis of a clearly defined engagement policy. The engagement focus lies on

  • Significant Dutch holdings;
  • Significant holdings with a Global Compact violator status (downside risk);
  • Significant holdings that present material ESG-risks within a few key sustainability themes as prioritised by PME (thematic engagement); and
  • Significant holdings that present general high material ESG-risks (adhoc/incidents)

Thematic Investments looks at investment opportunities that are attractive both from the return point of view and from an ESG standpoint. As of 2016, PME invests in specific renewable energy PE-fund.


SG 02. Publicly available RI policy or guidance documents

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

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Our code of conduct contains specific rules regarding conflicts of interests for investment professionals within our organization.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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