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Birta lifeyrissjodurinn

PRI reporting framework 2019

Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]

Strategy and Governance

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]

Indirect – Manager Selection, Appointment and Monitoring

Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Outputs and outcomes [SAM 08 - 09]

Direct - Listed Equity Incorporation

ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06]

Direct - Listed Equity Active Ownership

Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]

Direct - Fixed Income

ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply

			Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

Due to lack of resources, manpower and the fact that formal ESG issues are relatively new to the Icelandic investment environment, we do not do (nor are we provided with) "systematic research" on issuers, but we fully assume that they incorporate ESG issues in their operations. Should we find out that that was not the case, we react accordingly on an ad-hoc basis.

04.3. Additional information. [Optional]

FI 05. Examples of ESG factors in screening process (Not Completed)

FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening	Checks
Negative/exclusionary screening?	Analysis is performed to ensure that issuers meet screening criteria We ensure that data used for the screening criteria is updated at least once a year. Automated IT systems prevent our portfolio managers from investing in excluded issuers or bonds that do not meet screening criteria Audits of fund holdings are undertaken yearly by internal audit or compliance functions Other, specify None of the above
Norms-based screening	Analysis is performed to ensure that issuers meet screening criteria We ensure that data used for the screening criteria is updated at least once a year. Automated IT systems prevent our portfolio managers from investing in excluded issuers or bonds that do not meet screening criteria Audits of fund holdings are undertaken yearly by internal audit or compliance functions Other, specify None of the above

06.2. Additional information. [Optional]

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