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AMP Capital Investors

PRI reporting framework 2019

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Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework (Not Applicable)


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Fixed income - SSA

The AMP Capital Responsible Investment Leaders (RIL) Diversified Fixed Income Fund* invests in sovereign debt, with an ESG framework which incorporates country ratings, in-house and external ESG research, and some limits to exposure / non-investable grade securities. As with its corporate fixed income investments, AMP Capital's due diligence on externally managed portfolios includes the RIL Ethics Committee monitoring of the fund charter. Regular reporting considers ESG issues over and above any screening or exclusions, and the fund performance attributable to ESG factors.

Fixed income - Corporate (financial)

The AMP Capital Responsible Investment Leaders (RIL) Diversified Fixed Income Fund* invests in corporate securities and debt in both developed and emerging markets. The fund applies an ESG framework which incorporates in-house and external ESG research, grey listings and some limits to exposure / non-investable grade securities. AMP Capital does due diligence on externally managed portfolios, including through the RIL Ethics Committee which monitors compliance with the fund charter. Regular reporting includes engagement with companies, consideration of ESG issues over and above any screening or exclusions, and the fund performance attributable to ESG factors.

Fixed income - Securitised

AMP Capital's managed investments have a very small exposure to externally managed Securitised Assets.  This typically includes Mortgages and some Asset Backed Securities.  From an ESG perspective, investing in Securitised Assets may give rise to issues or challenges over ‘transparency’ and/or ‘look through’ to the underlying assets (e.g. bundled loans).  Where such challenges or transparency issues exist AMP Capital may seek to limit or avoid exposure to these types of assets. 

As an example, the AMP Capital Responsible Investment Leaders (RIL) Diversified Fixed Income Fund* invests in securities and debt in both developed and emerging markets. The fund portfolio is managed internally by AMP Capital’s Fixed Income team as well as portions of the portfolio which are managed externally though a multi-manager platform.  The fund applies an ESG framework which incorporates in-house and external ESG research, grey listings and some limits to exposure / non-investable grade securities. This includes limits to CDS exposure and the fund avoids investments in Asset Backed Securities.  AMP Capital does due diligence on externally managed portfolios, including through the RIL Ethics Committee which monitors compliance with the fund charter. 

Other (1) [as defined in Organisational Overview module]

Includes a small proportion (<5%) of total AUM which is invested externally in alternative assets and other diversified funds. External managers appointed by AMP Capital may include ESG considerations in line with their own ESG policies.

17.2. Additional information.

*AMP Capital Funds Management Limited (AMP Capital) ABN 15159557721, AFSL 426455, is the responsible entity of the AMP Capital Responsible Investment Leaders Funds and issuer of the Product Disclosure Statements (PDS) for the Fund.  To invest, investors will need to obtain the current PDS from AMP Capital before making a decision to acquire, continue to hold or dispose of units in the Fund.


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