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Stafford Capital Partners

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

          There are three areas in private equity:
1. We have certain investments we describe as sustainable capital. These investments are to portfolio companies and private funds that have characteristics of sustainability. These investments are strategic allocations aligned with our institutional clients with investment allocations for investments addressing sustainable development goals and clean energy;
2. We have investments for venture capital mandates identifying investments to support communities, to promote sustainable and fair economic development;
3. We will have investments in private equity to address client-specific alignment on social issues.
        
          Identifying managers aligned to the principles of responsible investing and receptive to integrating those principles into their processes or willing to actively engage with us or our clients. The Firm’s ESG integration efforts are cognizant of the ESG related strategies and investment restrictions as noted above.
        
          As above, complementary and consequential to ESG integration.
        
          As investors in unlisted assets, recognition that our active ownership efforts are advanced through a "seat at the table" through membership at the investor Advisory Board to private funds. Although membership to these Advisory Boards is principally focused on governance and ensuring compliance to investment strategy and guidelines, membership also enables us to pursue and monitor ESG risk and opportunities. We might not have direct engagement with the underlying portfolio companies or assets held by those private funds, we nonetheless exercise negative controls on other third party fund managers of our private fund investments to actively pursue ESG information and disclosure necessary for corporate actions or investor activism directly or on behalf of our clients.
        
          Through due diligence of investments we identify alignment to our aspirations for responsible investment and declare our support for the the principles of PRI. Through side letter arrangements, we encourage our third party managers to help us promote those principles and the ESG aspirations of ours and that of our clients.
        
          We identify and monitor the ESG alignment of our third party managers through an ESG biennial survey.
        
          Applying our Responsible Investing Policy, the World Bank ESG scoring and also the PRI principles as a core framework.
        

Incentives and controls

Reporting requirements

Benchmark

ESG Objectives

          Identification of energy and resource efficient infrastructure
        
          Qualifying investments that fit within the allocations approved under a mandate or product of the Firm that aligns with energy and resource efficient infrastructure, or infrastructure addressing sustainable development goals, whilst satisfying internationally accepted standards of behaviour that is responsible environmentally, socially and for governance.
        
          Identifying managers aligned to the principles of responsible investing and receptive to integrating those principles into their processes or willing to actively engage with us or our clients.
        
          As above, complementary and consequential to ESG integration.
        
          As investors in unlisted assets, recognition that our active ownership efforts are advanced through a "seat at the table" through membership at the investor Advisory Board to private funds. Although membership to these Advisory Boards is principally focused on governance and ensuring compliance to investment strategy and guidelines, membership also enables us to pursue and monitor ESG risk and opportunities. We might not have direct engagement with the underlying portfolio companies or assets held by those private funds, we nonetheless exercise negative controls on other third party fund managers of our private fund investments to actively pursue ESG information and disclosure necessary for corporate actions or investor activism directly or on behalf of our clients.
        
          Through due diligence of investments we identify alignment to our aspirations for responsible investment and declare our support for the the principles of PRI. Through side letter arrangements, we encourage our third party managers to help us promote those principles and the ESG aspirations of ours and that of our clients.
        
          We identify and monitor the ESG alignment of our third party managers through an ESG biennial survey.
        
          Applying our Responsible Investing Policy, the World Bank ESG scoring and also the PRI principles as a core framework.
        

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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