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Mirova

PRI reporting framework 2018

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG issues [LEI 08 - 10] Outputs and outcomes [LEI 12 - 14]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 13] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 07] (B) Implementation: Thematic [FI 08 - 10] (C) Implementation: Integration [FI 11 - 13] Fixed income - Engagement [FI 15 - 17] Outputs and outcomes [FI 18 - 19]
Direct - Infrastructure
Overview [INF 01 - 02] Fundraising of infrastructure funds [INF 03 - 04] Pre-investment (selection) [INF 05 - 09] Selection, appointment and monitoring of third-party operators [INF 10] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure monitoring and operations [INF 12 - 14] Infrastructure maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18] Communication [INF 19]
Assurance
Assurance [CM1 01.1 - 01.7]
Export Public Responses
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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

% of assets under management (AUM) in ranges

Further options for investment managers (may be selected in addition to the above)

01.3. Additional information. [Optional]

Mirova is a Core RI asset manager, fully owned by Natixis Asset Management. With €8.9 billion assets under management, Mirova is a leader in the European RI market. Its team of 74 multidisciplinary experts includes specialists in thematic investment management, engineers, financial and environmental, social and governance analysts, project financing specialists and experts in solidarity-based finance.

Thanks to its pro-active and pragmatic RI approach, that aims at reconciling wealth creation and sustainable development, Mirova offers a full array of investment solutions: listed equities, bonds, infrastructure funds, impact investing as well as engagement and voting services (fully described in PRI modules “Listed Equities Incorporation”, “Fixed Income”, “Infrastructures” and “Listed Equities Active Ownership”).

Several key strengths distinguish Mirova from other asset managers:

-Strong firm commitment to sustainable investment supported by a large in-house Responsible Investment Research team made up of 11 ESG specialists, and several academic partnerships to fuel internal knowledge

-Conviction-based investment management: security selection is at the heart of investment processes, and sustainability is incoporated as part of idea generation, not only as a screening

-Performance-driven approach across all asset classes

- Coverage of all risks: financial and ESG

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

France

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

74 FTE

02.4. Additional information. [Optional]

As regards Mirova’s staff:

The company has been growing rapidly since its creation: Mirova now employs 74 multi-disciplinary SRI experts with complementary backgrounds: specialists in thematic investment management, engineers, financial and ESG analysts, specialists and experts in socially-conscious finance and project financing.

Headed up by the CEO Philippe Zaouati, Mirova is organized around 7 teams:

-           Development and operations

-           Compliance, Internal Control and Risks

-           Equity, fixed-income

-           Impact investing

-           Responsible Investment Research

-           Infrastructure / public-private partnerships

-           Infrastructure / Renewable Energy

Additional support functions are provided by Natixis Asset Management, Mirova’s parent company.

In 2017, Mirova completed the acquisition of Althelia Ecosphere in impact investment manager Althelia Ecosphere. Mirova-Althelia, the rebranded entity, will be a subsidiary of Mirova and will bring together the required strategic vision and expertise to scale up this nascent but promising market, and serve institutional clients seeking market-level returns through high-impact investment solutions addressing major global environmental challenges such as climate change, protection of landscapes, biodiversity, soil and marine resources. This entity will be integrated in Mirova's reporting at a later stage.

As regards Mirova’s offices:

In addition to its headquarters based in Paris, Mirova has created a new investment division within NAM  US* in Boston on September 1st, 2016. The new entity currently being integrated, Mirova-Althelia, is based both in London and in the Paris office. Mirova also has an administrative center in Luxemburg. 

*Natixis Asset Management US (NAM US) is a joint venture between Mirova and Natixis Asset Management.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

Mirova does not have any PRI signatory subsidiary

However, its parent-company Natixis Asset Management is a signatory since 2008, and takes part in the annual reporting and assessment cycle on its own scope.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2017

04.2. Indicate your total AUM at the end of your reporting year, Exclude subsidiaries you have chosen not to report on and any advisory/execution only assets.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

The information communicated does not include the newly acquired subsidiary Althelia ecosphere, that represents less than 1% of Mirova’s assets under management. In 2017, Mirova completed the acquisition of Althelia Ecosphere in impact investment manager Althelia Ecosphere. Mirova-Althelia, the rebranded entity, will be a subsidiary of Mirova and will bring together the required strategic vision and expertise to scale up this nascent but promising market, and serve institutional clients seeking market-level returns through high-impact investment solutions addressing major global environmental challenges such as climate change, protection of landscapes, biodiversity, soil and marine resources. This entity will be integrated in Mirova's reporting at a later stage.

OO 06. How would you like to disclose your asset class mix

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

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 50 0 0
Fixed income 10-50% 20.3 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 10-50% 27.7 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Other (1), specify <10% 2 0 0
Other (2), specify 0 0 0 0

'Other (1)' specified 

          Solidarity based/ Impact Investing

06.2. Publish asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

The information communicated does not include the newly acquired subsidiary Althelia ecosphere, that represents less than 1% of Mirova’s assets under management. 

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market (Private)

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