Public HTML RI reports - PRI reporting framework 2019

GEROA PENTSIOAK E.P.S.V. de EMPLEO

PRI reporting framework 2019

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

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]

Direct - Listed Equity Incorporation

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

Direct - Hedge Funds

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

Non-corporate pension or superannuation or retirement or provident fund or plan

Corporate pension or superannuation or retirement or provident fund or plan

Insurance company

Foundation

Endowment

Development finance institution

Reserve - sovereign or government controlled fund

Family office

Other, specify

01.3. Additional information. [Optional]

Geroa Pentsioak EPSV de Empleo (hereinafter Geroa Pentsioak) is a Workplace Pension Fund comprised, in equal parts, of Employers and Trade Unions. It is a private entity with its own legal personality, independent from Financial Entities, voluntary and social. Its purpose is to complement Social Security pensions within the Basque Country. The contingencies it covers are retirement, disability and death of employees for companies and sectors who are members.

With this objective, the contributions, made in the same way during the working life of the workers, are managed by a professional team charged with the duty of managing them in an independent, efficient and sustainable manner in the long term, with the aim of reducing purchasing loss power of the pensioners.

EPSVs are Basque Country Pension Plans, and they are regulated and supervised by the Autonomous Community of the Basque Country. There is an entire series of legal and regulatory standards from the Parliament and the Basque Government regulating EPSVs regarding their establishment, operation, liquidity, etc., so they have certain characteristics of their own that set them apart from pension funds.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Spain

02.2. Indicate the number of countries in which you have offices (including your headquarters).

2-5

6-10

>10

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

19.43 FTE

02.4. Additional information. [Optional]

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

Yes

03.3. Additional information. [Optional]

Geroa Pentsioak EPSV de Empleo holds 50% of ORZA AIE, which is not a signatory of PRI for the time being on its own behalf.

ORZA, AIE. is an entity held by ELKARKIDETZA EPSV de Empleo (50%) and GEROA PENTSIOAK EPSV de Empleo (50%). This is an entity whose purpose is to purchase shares at unlisted companies. This holding is channeled for company expansion projects, MBO and MBI operations, to resolve corporate succession issues or to replace minority shareholders. ORZA, AIE., participates in managing its shares with an active presence on Boards of administrators, providing knowledge, contacts and relationships between shareholders that can create decisive synergies. ORZA, AIE.'s aim is not short-term. This is a partner who aims to stay longer than Venture Capital entities. This is a partner who can finance successive phases of growth for a company.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2

Total AUM
Total AUM	trillions	billions	millions	thousands	hundreds
Currency
Assets in USD
Assets in USD	trillions	billions	millions	thousands	hundreds

Not applicable as we are in the fund-raising process

04.4. Indicate the total assets at the end of your reporting year subject to an execution and/or advisory approach.

Total AUM
Total AUM	trillions	billions	millions	thousands	hundreds
Currency
Assets in USD
Assets in USD	trillions	billions	millions	thousands	hundreds

Not applicable as we do not have any assets under execution and/or advisory approach

04.5. Additional information. [Optional]

The total assets under Geroa Pentsioak's management as of 31/12/2018 were 2.057.219.679,340€. This amount includes 48.933.648,97€ under ORZA. AIE. (Subsidiary entity of GEROA PENTSIOAK). Throughout this report, we will not be reporting on ORZA AIE's part, so we consider our AUM to be 2.008.286.023€

Regarding Committed funds (PE, Infrastructure...), we only provide a breakdown for invested capital (we do not include the uncalled commitments) in the AUM.

This AUM includes the net positions of the derivatives.

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

as percentage breakdown

as broad ranges

	Internally managed (%)	Externally managed (%)
Listed equity	10-50% 25.52	0 0
Fixed income	10-50% 47.06	0 0
Private equity	<10% 0.98	0 0
Property	<10% 0.72	0 0
Infrastructure	<10% 1.11	0 0
Commodities	<10% 0.41	0 0
Hedge funds	<10% 0.69	0 0
Fund of hedge funds	0 0	0 0
Forestry	0 0	0 0
Farmland	<10% 0.2	0 0
Inclusive finance	<10% 0.1	0 0
Cash	10-50% 12	0 0
Money market instruments	<10% 5.68	0 0
Other (1), specify	<10% 5.53	0 0
Other (2), specify	0 0	0 0

'Other (1)' specified

          Structured Products and Derivatives

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

Yes

06.5. Indicate whether your organisation uses fiduciary managers.

Yes, we use a fiduciary manager and our response to OO 5.1 is reflective of their management of our assets.