All our selection of vehicles managed by third independent parties, is centralized by our Quality Funds platform. G.P.P relies on this platform for the selection, appointment and monitoring of external managers and funds. As we will explain, this platform is compound for a group of analysts (the team is composed by 26 analysts) divided in several subgroups depending on the asset class and the stage of the selection process. Thus, there is one group in charge of the development of the Due Diligence of the Asset Manager. Once the Due Diligence has been aproved, the group of analysts carry out the study of a concrete Fund, which will have to pass another due diligence at a fund level. If selected, it will be incorporated to a Catalogue with an internal rating based on an internal methodology which combines quantitative and qualitative aspects.
Whenever any of these funds is incorporated in any of our portfolios, a monthly report is elaborated and sent by the analysts to the portfolio manager.
Additionally, during 2015 we developed a procedure to assure that all the funds included in our portfolios, are consistent with our SRI policy in terms of exclusions and proxy voting.