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UNISON Staff Pension Scheme

PRI reporting framework 2017

You are in Strategy and Governance » Investment policy

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

Covers membership of Trade Union Share Owners Group (TUSO) and ESG activities undertaken as a result of that membership

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

other (2) description

          Collaboration with the Trade Union Share Owners Group (TUSO), PIRC, Investment Managers and Investment Advisers.
        

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

The Trustees’ key investment objectives are:

i)              To meet benefit payment as they fall due; and

ii)             The Scheme’s funding position should remain at an appropriate level.

The Trustees undertook a review of their investment strategy in 2012 and agreed that the Scheme’s investment strategy should be based on the benchmark allocation below:

UK Equities                                         15%

Overseas Equities                            15%

UK small cap equities                     15%

Multi asset absolute return         20%

Property                                              10%

Index-linked bonds                         20%

Corporate bonds                              10%

The Trustees believe that companies that display good environmental and social practices will be recognised as being well managed and should outperform the market over the long-term.  Trustees believe that engaging with companies, including exercising voting rights, offers an effective means of promoting  Trustees’ beliefs.

The Trustees have appointed Standard Life, Legal & General and Pyrford to manage equity assets for the Scheme on a segregated basis.  All 3 managers are signatories to the PRI with Standard Life and Legal & General having proven track records and well-structured processes that include analysis of companies’ environmental, social and governance performance.

Trustees believe that engaging with companies, including exercising voting rights, offers a more effective means of promoting their beliefs than a negative screening policy.  

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]


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.

The Trustees have a policy on managing all real and potential conflicts of interest which could include those arising as part of the investment process.  In addition our investment managers have their own conflicts of interest procedures. 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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