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Savills Investment Management

PRI reporting framework 2018

You are in Strategy and Governance » Outsourcing to fiduciary managers and investment consultants

Outsourcing to fiduciary managers and investment consultants

SG 12. Role of investment consultants/fiduciary managers

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

12.1. Indicate whether your organisation uses investment consultants.

12.5. Indicate whether your organisation considers any of the following responsible investment factors in the monitoring of fiduciary managers

12.6. Describe the approach you take to monitoring your fiduciary managers and the reason(s) for this approach [Optional].

The above answers are provided in the context that Savills IM and it's fund / asset managers have a fiduciary duty to manage the assets of our investors. 'Fiduciary managers' have therefore been interpreted in this response as Savills IM's fund and asset managers. It should be noted that Savills IM only invests in property assets, and that fund teams do not employ any external fiduciary managers. 

Compliance with our Responsible Investment policy forms part of the agenda of the PMC (which monitors portfolio management processes and financial performance), and TAC (providing advisory review of asset purchase, sale and significant CapEx decisions, in the context of portfolio construction).

ESG reporting is coordinated by the Investor Relations team and all reports are subject to thorough sign off processes by the fund teams and Compliance, ahead of distribution to clients. 

Fund and asset managers are encouraged to consider joining responsible investment initiatives / organisations, and to participate in educational or collaborative projects via invitations to ESG industry webinars, ESG training sessions, and ESG training documents which are made available via our intranet. 

The overall management of ESG performance is evaluated for those fund and asset managers for whom ESG features in their objectives, which currently comprises our German Fund managers, specifically. The adherence to these objectives are evaluated via mid-year and year-end appraisal meetings. 

Savills IM reviewed the ESG materiality as defined by its fund and asset managers, via a staff ESG survey which was sent and analyzed in Q4 2017. The survey required fund and asset managers (as well as all other staff, segregated by function) to prioritize which environmental, social and governance aspects were of most materiality to them in their role, and the wider business. 

The option above, "Does the organization review the fiduciary manager’s PRI Transparency or Assessment reports" has been left blank as it is not applicable to Savills IM. Since Savills IM submits our PRI Transparency and Assessment report at an organizational, rather than a fund level, no PRI Transparency or Assessment reports exist for our fiduciary managers (which we have interpreted as our fund and asset managers, as outlined in paragraph 1). ESG information and performance is collected and reported at the fund level for 11 funds via the GRESB survey, on an annual basis. 

12.7. Additional information [Optional].