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West Midlands Pension Fund

PRI reporting framework 2017

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

Outputs and outcomes

SAM 11. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 12. Examples of ESG issues in selection, appointment and monitoring processes

12.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          RI Integration and ESG Risk Management in Private Equity Fund
        
Conducted by
Asset class
Scope and process

As part of due diligence before investing into a new private equity fund, answers to the PRI Due Diligence Questionnaire were gathered and the RI Officer went to meet the relevant professionals at the fund manager. In that meeting the ESG integration process was explained and the RI Officer was satisfied that the manager (a PRI signatory) had an approach to ESG risk management that is consitent with the fund's sectoral and geographic exposure. Given the fund's exposure to software and tech, the due diligence assessed cyber security risk management, and the manager demonstrated a leading approach. The findings informed a numerical score, which feeds into an overall rating for the fund alongside more traditional financial variables such as past performance and fee structure.

Outcomes

The manager rated well on our scoring system and a decision to invest was agreed at Investment Committee.

12.2. Additional information.

Please note that no listed equity or corporate fixed income appointments were made during the year in review, although monitoring was conducted for each manager.


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