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Gestión de Previsión y Pensiones E.G.F.P

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.

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.

We have considered integration as the most complete and efficient tool for considering non-financial information in the investment process. With this approach we are able to consider both fundamental and ESG analysis, maximizing the risk-return of our portfolios. As mentioned in previous modules, GPP also applies the exclusion as a consequence of the "Rule of Conduct in Defence". Thus, we apply a combination of strategies (exclusion + integration).

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.

03.3. Additional information. [Optional]

Gestión de Previsión y Pensiones, E.G.F.P., S.A. incorporates ESG criteria in sovereign fixed income by collecting non-financial information provided by our external researcher. This information is then incorporated to the financial information in investment decision making. The proprietary model was implemented during 2013.