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AMP Capital Investors

PRI reporting framework 2019

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement

Fixed income Corporate (securitised) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Property

Infrastructure

Cash

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - securitised

Fixed income - securitised - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Cash

Cash - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Other (1)

Other (1) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.3b. If your organisation does not integrate ESG factors into investment decisions on your externally managed assets, explain why not.

We find investments in cash are not impacted materially by ESG factors to the same extent as for other asset classes.

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

AMP Capital's externally-managed funds include the Responsible Investment Leaders (RIL) range of funds, the Future Directions Funds (FDF) and the ipac funds (ipac)*. RIL, FDF and ipac are each fund-of-funds, and their multi-manager teams appoint external managers with differing investment insights, both sector and style-based. The funds invest predominantly in Australian and international shares, with smaller allocations to fixed income, property and alternatives.

RIL funds: As their name suggests, AMP Capital's RIL funds are managed within a responsible investment framework, providing clients the opportunity to invest with a higher conviction on ESG issues. The RIL Charter provides for the criteria and governance of these investments. Specialist committees under the charter govern the appointment of external managers, asset allocations, fund operation and integrity, performance and ESG issues. These committees include the RIL Work Group, the AMP Capital Sector and Diversified Investment Committee(s), and the RIL Ethics Committee. They are supported by AMP Capital's ESG experts and advisory committee, and by research and ESG manager ratings from our investment consultants Willis Towers Watson.

The RIL range of funds apply an ESG framework in investing in a diverse portfolio of assets across a range of external managers. These managers must demonstrate adherence to the RIL Charter which outlines the responsible investment policy of the fund. This includes some screening or limits to exposure and a preference toward better performing companies based on bottom up analysis and consideration of issues such as corporate governance, labour standards, community and environment.

Further details and information on the AMP Capital RIL range of funds including fund profiles, RIL Charter and performance reports can be found at http://www.ampcapital.com.au/institutional-investors/investing-with-us/multi-manager/responsible-balanced-fund.

FDF and ipac: For the larger FDF and ipac range of funds, external consultant ratings may be considered in the manager selection and appointment processes. In line with AMP Capital's ESG and Responsible Investment Philosophy, we encourage both our external consultants and our external managers to incorporate ESG issues within the services they provide and the investments they manage on our clients' behalf. For FDF and ipac, our initial focus has been on external equities managers.

AMP Capital works with our consultant Willis Towers Watson as well as our own ESG specialists to review external manager approaches to ESG integration. FDF and ipac external managers may generally use ESG criteria as an input to their investment thinking and as a tool to develop a more comprehensive view of an underlying company's key business risks and overall management quality.

AMP Capital engages periodically with external managers to ascertain the extent to which they incorporate ESG considerations in their decision-making and stock selection processes. This is monitored through the manager due diligence and appointment process, one-on-one meetings and engagement with external managers, issuing ESG surveys / questionnaires to underlying managers and AMP Capital's monitoring of their proxy voting activities.

* AMP Capital Funds Management Limited (AMP Capital) ABN 15159557721, AFSL 426455 is the responsible entity of the Responsible Investment Leaders (RIL) range of funds and the Future Directions Funds (FDF) and issuer of the Product Disclosure Statements (PDS) for these Funds and ipac asset management limited, ABN 22 003 257 225, AFSL 234655 is the responsible entity of the ipac funds (ipac) and issuer of the Product Disclosure Statement (PDS) for these Funds. 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 relevant Fund.


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

Direct - Other asset classes with dedicated modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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