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University of Toronto Asset Management Corporation (re University of Toronto Endowment)

PRI reporting framework 2018

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

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

ESG Objectives

          While acknowledging that an investment manager's assessment of a company considers many factors, investment managers agree to incorporate ESG considerations into their investment processes when they believe such considerations are relevant and material.
        
          In segregated account equity mandates we require our managers to surrender proxy voting to ISS and use their Sustainability policy and guidelines. In commingled fund mandates where the University of Toronto’s Pension and Endowment are the only investors, we are typically able to have the manager surrender proxy voting to ISS and use their Sustainability policy and guidelines.
        

Incentives and controls

Reporting requirements

Benchmark

          FTSE TMX Universe All Government Bond Index (Canada only)
        

ESG Objectives

          While acknowledging that an investment manager's assessment of a bond takes into account many factors, investment managers agree to include ESG considerations in their investment processes when they believe such considerations are relevant and material.
        

Incentives and controls

Reporting requirements

Benchmark

          Absolute return based hurdle
        

ESG Objectives

          While acknowledging that an investment manager's assessment of an investment takes into account many factors, investment managers agree to incorporate ESG considerations into their investment processes when they believe such considerations are relevant and material.
        

Incentives and controls

Reporting requirements

04.4. Indicate which of these actions your organisation might take if any of the requirements are not met

04.5. Provide additional information relevant to your organisation's appointment processes of external managers. [OPTIONAL]

          
        

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