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Fonds de réserve pour les retraites - FRR

PRI reporting framework 2018

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, and how they consider ESG factors and real economy impact.

 

The FRR expand its efforts towards integrating extra-financial data into its management processes by further engaging with its managers through regular exchanges on ESG issues.

The FRR promote good ESG practices whilst at the same time seeking to reap the financial rewards from the materiality of certain SRI criteria, in other words the proven impact of social responsibility criteria on a company’s performance.

Since 2008, the FRR has had in place a system enabling it to monitor and prevent extra-financial risks that may have an impact not only on its investments but also its reputation. Indeed, risks for the FRR may arise from failure by a company in which it invests to observe universally recognised principles, such as those of the United Nations Global Compact and good governance, but also the international treaties ratified by France.

To avoid legal and regulatory risks, money-laundering risks and reputational risks arising from the FRR’s exposure to various financial centers classified in some cases as "tax havens", the FRR has decided that it should not invest in any sovereign bond or company in a State where such risks exist, or contract with any third party whose registered office is located in such a place. 

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

FRR has no variations or exceptions to our investment policy that covers your responsible investment approach. 


SG 02. Publicly available RI policy or guidance documents

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

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Consistent with its stated purpose and in light of the size of funds it delegates to external management, the FRR has set up its management structure and governance in order to ensure :

  • Independence: This spirit is reflected in the law which created the FRR.
  • Transparency: Due to the nature of the Fund’s resources, its strategy,financial statements, the global portflolio is disclosed to the public at regular intervals. The process of awarding management mandates for the Fund’s assets is conducted in compliance with the French Procurement Code.
  • Close involvement of Unions, Regulators and Government via its Supervisory Board.

 

03.3. Additional information. [Optional]

Please find the codes of conduct and the internal rules & procedures of the FRR at the following adresses :

http://www.fondsdereserve.fr/documents/deontologie.pdf

http://www.fondsdereserve.fr/documents/principes_deontologiques_janvier_2013.pdf

http://www.fondsdereserve.fr/documents/Reglement_interieur_consolide_aout_2011.pdf


SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within portfolio companies.

04.2. Describe your process on managing incidents

          Different steps of the process on managing incidents are:
- Notification of breach to the asset manager.
- Monitoring of the incident by the middle office under the supervision of the Risk committee.
- Escalation to the Management Board to decide to put the mandate under scrutiny or to resiliate it.
- Closing of the incident by the Investment Director.
        

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