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UBS Asset Management

PRI reporting framework 2019

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Selection, appointment and monitoring third-party property managers

PR 07. ESG issues in selection, appointment and monitoring of third-party property managers

07.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party property managers.

07.2. Indicate how your organisation includes ESG issues in your selection, appointment and/or monitoring of third party property managers.

Types of actions

Coverage

Types of actions

Coverage

Types of actions

Coverage

07.3. Provide a brief description of your organisations selection, appointment and monitoring of third party property managers and how they contribute to the management of ESG issues for your property investments.

Property management firms are generally selected by an RFP process that includes multiple firms. Our philosophy is to hire the best in class firm in each market for each property type, and we do not have a global contract with any one provider. Standard ESG factors are included in the evaluation process and contracts with the property managers.

We have pan-regional ESG firms which manage our RI programs. Property management firms are generally monitored in annual or quarterly reviews. We set targets by individual property type and by fund. Performance monitoring against ESG targets is part of the contract and the quarterly reviews.

The property owner carries out a yearly sustainability rating of assets using GRESB benchmarking and data requirements. The property manager shall provide the necessary data at the owner's request (as far as this data is available) and shall help the owner to analyse the data in order to draw conclusions and develop measures for improvements

The property owner hires a third-party vendor to conduct tenant surveys. ESG questions are included in the survey as standard protocol.


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