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Stichting Spoorwegpensioenfonds

PRI reporting framework 2018

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

Implementation processes

FI 01. Incorporation strategies applied

01.1. Indicate 1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and 2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.

SSA
100 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
Corporate (financial)
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
Corporate (non-financial)
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

Our internally managed government bond portfolio solely focusses on developed countries. For these countries we only apply exclusionary screening.

Our credit portfolio is subject to the exclusion list (applicable to all asset classes). Besides this, before investing in a company, every company is screened based on financial metrics. The analyst team is shared between equity and FI. ESG related risk issues are also taken into account. Currently, we are working on a reinforcement of the process of ESG-integration in our credit portfolio. The ESG score of every company will be reviewed. In addition, extra in-depth information will be sought. Any ESG-risks that come out of this screening will be taken into account in the decision whether or not to accept the company in the portfolio. Too much ESG risk can be a reason not to invest in a company.

Additionally, we have some investments in green bonds in the portfolio. Green bonds are accepted in the portfolio on the same premises as all other investments.

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research (Private)


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

          Analysts conduct research for both credit and equity securities. They sit closely together with the portfoliomanagers credits and portfoliomanager SRI, wherefore they share information naturally.
        

03.3. Additional information. [Optional]


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