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APG Asset Management

PRI reporting framework 2018

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          We require new investments in non-listed property managers to participate in the GRESB benchmark and to reach 4 or 5 start status in this benchmark over time.
        

Measures

          In listed equity, we require new and existing external managers to contractually agree to implementing carbon reduction targets. In the case of an external manager not willing to agree to such terms, this can lead to the contract being terminated and the assets moved to another external manager that is willing to implement a carbon reduction target.
        

08.2. Additional information. [Optional]


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Collaboration on voting and engagement
        
Conducted by
Asset class
Scope and process

APG retains the voting rights for mandates given to external managers. From time to time we receive voting recommendations from our external managers, and or inquiries whether we can collaborate on an engagement opportunity.

Outcomes

In these cases we enter into a constructive dialogue with our external manager (e.g. in the case of a conflicting voting recommendation compared to our internal voting policy) and consult the manager. This happened in a few cases in 2017. 

Topic or issue
          RI considerations in renewal
        
Conducted by
Asset class
Scope and process

APG expects its external managers to strictly adhere to our RI policy considerations, and includes these requirements in the ongoing evaluation of mandates.

Outcomes

It happened at least in one case where an external manager was not able/willing to meet our RI considerations going forward and this impacted the renewal decision. 

09.2. Additional information.


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