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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
Appointment of Investment Manager
Investment Manager appointments are made following an open and transparent procurement process carried out by internal staff and Investment Consultants. Responsible investment is one of the criteria in which managers needed to demonstrate their capabilities as part of the tender process. Only those managers who demonstrate satisfactory ESG Practices were considered for appointment.
An Investment Manager was appointed who is able to take into consideration ESG (Environmental, Social and Governance) issues, including climate risk, as part of the investment process, provided the primary financial obligation is not compromised.
NILGOSC requires its managers to monitor investee companies and engage with company management where Environmental, Social or Governance (ESG) practices fall short of best practice. All managers are required to report back quarterly on any activity undertaken and their ability to provide evidence that they are taking ESG issues into account during the investment process forms part of NILGOSC's quarterly evaluation of their performance. One of NILGOSC's fund managers was not providing an adequate level of reporting on ESG issues. The issue was raised during the quarterly monitoring process.
The manager agreed to provide portfolio specific data verbally in a conference call format on a bi-annual basis going forward. The first call was held during March 2017 and some useful information was provided to NILGOSC. This is an improvement on information previously provided.