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AMP Capital Investors

PRI reporting framework 2019

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Fundraising of property funds

PR 02. Fund placement documents and RI

02.1. Indicate if your most recent fund placement documents (private placement memorandums (PPMs) or similar) refer to responsible investment aspects of your organisation.

02.2. Indicate how your fund placement documents (PPMs or similar) refer to the following responsible investment aspects of your organisation:

02.3. Describe how your organisation refers to responsible investment for property funds in fund placement documents (PPMs or similar). [Optional]

A summary of AMP Capital's Real Estate ESG and Responsible Investment philosophy is provided as part of the standard fund due diligence package, which is accessed by investors/potential investors on a secure data site. A specific ESG strategy is also provided at a corporate and fund level.

As a manager of primarily wholesale funds, AMP Capital's Real Estate business deals mainly with institutional investors. During the pre-investment process a series of investor briefing documents are prepared which include details of our approach to ESG and responsible investment practices, and there is also usually a key investor presentation during which our Head of Sustainability, Real Estate will present our ESG strategy and management approach to the prospective investor. AMP Capital responds thoroughly to investor due diligence enquiries disclosing all relevant responsible investment policy documents.

Post-investment AMP Capital Real Estate has a comprehensive approach to responsibly managing the investment including ESG strategies for each fund, which include relevant measurable metrics, targets and detailed initiatives which are focused on achieving the targets for standing assets, and a due diligence process for acquisitions that includes an ESG checklist. Any material or commercially significant ESG issues are entered into the risk register and are considered by the Property Transaction Committee (PTC). A separate PTC is convened for every prospective transaction, and each PTC is comprised of appropriate internal staff, who are informed by relevant consultant's reports. The Head of Sustainability, Real Estate is involved in all PTCs.

02.5. Additional information. [Optional]


PR 03. Formal commitments to RI

03.1. Indicate whether your organisation makes formal commitments in fund formation contracts, Limited Partnership Agreements (LPAs) or in side letters relating to responsible investment in property when requested by clients.

03.2. Additional information.

Whether through fund formation contracts (offering documents), LPA's or side letters, AMP Capital Real Estate makes formal commitments on ESG and responsible investment issues. These are directed towards improved environmental performance of our real estate portfolio, support for local communities, and governance practices that assist in reducing risks to our clients' investments. 


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