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Pensionfund Metalektro (PME)

PRI reporting framework 2018

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ESG incorporation in actively managed listed equities

Implementation processes

LEI 01. Percentage of each incorporation strategy

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate (1) which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities and (2) the breakdown of your actively managed listed equities by strategy or combination of strategies (+/- 5%)

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied
100 %
Total actively managed listed equities 100%

01.2. Describe your organisation’s approach to incorporation and the reasons for choosing the particular ESG incorporation strategy/strategies.

In our actively managed strategy we exclude companies which are active in so called controversial activities (such as weapon industry, tobacco). We only include companies which have a MSCI ESG rating of BB and higher. With an actively managed strategy we target a more stable and sustainable society with investments in social responsible companies which also provides us with a good financial return from our investments.  As part of our strategy we exclude companies which are active in so called controversial activities (such as weapon industry, tobacco), since their activities would harm society on a medium to long term basis. We believe only a truly (esg) integrated investment process in combination with a long term investment horizon will make it possible to synthesize these objectives (financial and social return). Our passive listed equities benchmark is adjusted for the outcomes of our exclusion policy.

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]

See 01.2: We exclude all companies which have an ESG rating of BBB or lower. In addition in selecting new investments ESG characteristics are an important part of our selection process.


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

Our active mandate has both exclusion and positive screening. The portfolio objective is to strive for a good return and a lower financial risk and being involved with responsible business activities, aiming for a positive contribution to a stable and sustainable society.

Screened by

Description

Our active mandate has both exclusion and positive screening. The portfolio objective is to strive for a good return and a lower financial risk and being involved with responsible business activities, aiming for a positive contribution to a stable and en sustainable society.

Screened by

Description

We take into account the above norms in our benchmark selection.

04.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

The norms based/exclusion screening treaties are selected based on national law but also treaties which are signed by the Dutch Government which are not necessarily prohibitive for us. However even though they are not prohibitive we do take them into account due to ethical reasons. In choosing to comply with certain treaties we take into account the opinions of our beneficiaries. Our exclusion list is reviewed quarterly.

Positive screening whereby MSCI BBB or worse are excluded; this is updated monthly.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]


LEI 06. Processes to ensure fund criteria are not breached (Private)


(C) Implementation: Integration of ESG issues

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate which ESG factors you systematically research as part of your investment analysis and the proportion of actively managed listed equity portfolios that is impacted by this analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]

De Betrokken Belegger, an actively managed European Equities product whereby a concentrated portfolio of companies are selected whereby ESG is fully integrated in the whole investment process. ESG provides a natural fit with the overall investment philosophy which focusses on the long term. As a result of the focus on the long term, the importance of ESG aspects increases, meaning that in all analysis ESG is fully integrated.

In both portfolios, E, S and G factors are researched structurally before investment.


LEI 09. Processes to ensure integration is based on robust analysis (Private)


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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