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Stichting Spoorwegpensioenfonds

PRI reporting framework 2018

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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

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio
        
          The manager will vote on all agenda items of companies in its portfolio. The manager normally uses its own voting policy (similarity to our own voting policy is checked).
        

Incentives and controls

Reporting requirements

Benchmark

          Depending on the management style of the portfolio
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio.
        

Incentives and controls

Reporting requirements

Benchmark

          Depending on the management style of the portfolio
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio.
        

Incentives and controls

Reporting requirements

Benchmark

          Depending on the management style of the portfolio
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio
        

Incentives and controls

Reporting requirements

Benchmark

          7yr average MSCI DM +3%
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio
        

Incentives and controls

Reporting requirements

Benchmark

          FTSE EPRA/NAREIT
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        

Incentives and controls

Reporting requirements

Benchmark

          Eurozone inflation +3%
        

ESG Objectives

          The manager has to adhere to our exclusion policy and list
        
          The manager has to integrate ESG criteria into its investment processes
        
          The manager will engage with the companies in its portfolio
        

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]

          Please note that the standard communication frequency is quarterly. If a manager, however, breaches our policy or exclusion list, we demand that the manager immediately notifies us. This is also checked continuously via our systems.
        

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