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We do not engage because we invest only in very sustainable institutions.
ESG criteria according to our "Gemeinwohlbericht" found on pages 21 and 22 https://www.sparda-m.de/pdf/sparda-m/gemeinwohlbericht_2013_2014.pdf are very relevant for us in our manager selection process. Due to the fact that we invest only little funds in these asset classes, we do not have mandates where we have strong influence on contractual or management issues. For that reason we are very careful in selecting managers.