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MN

PRI reporting framework 2019

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You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

          Developed Markets equity strategy containing a 10% negative ESG-screening
        

ESG Objectives

          PRI signatory required
        

Incentives and controls

Reporting requirements

Benchmark

          Benchmark is customized for exclusions such as weaponry and tobacco
        

ESG Objectives

          Companies that are on our exclusion list are not eligible for investment; limit monitoring is in place to ensure these limits are not breached. An example is Wal-Mart, which is excluded for non compliance to ILO standards.
        
          Objective for the manager is to explicitly incorporate ESG risks in active investment decisions; this is monitored and discussed with manager on at least a yearly basis. In our selection and monitoring this is being reviewed in a structured way.
        
          PRI signatory required
        

Incentives and controls

Reporting requirements

Benchmark

          MSCI+2 and relevant peer group benchmarks
        

ESG Objectives

          Exclusion policy for investments that do not meet MN's criteria of Global Compact
        
          Objective for the manager is to explicitly incorporate ESG risks and possible improvements in investment decisions; this is monitored and discussed with managers on at least a yearly basis. In our selection and monitoring this is being reviewed in a structured way.
        
          Our approach covers engagement with the manager about how he handles his investments also from an ESG perspective.
        
          Improving reporting specifically on ESG
        
          We ask managers to be(come) PRI signatory and promote AIC signatoryship for North American managers.
        

Incentives and controls

Reporting requirements

Benchmark

          Benchmark is an absolute % of return vis-a-vis liabilities/ INREV (core) funds index
        
          GRESB benchmark
        

ESG Objectives

          Exclusion policy for investments that do not meet MN's criteria of Global Compact
        
          Objective for the manager is to explicitly incorporate ESG risks and possible improvements in investment decisions; this is monitored and discussed with manager on at least a yearly basis. In our selection and monitoring this is being reviewed in a structured way.
        
          Our approach covers engagement with the manager about how he handles his investments also from an ESG perspective.
        
          We work with our managers towards at least a three star GRESB-score per portfolio.
        
          We ask managers to monitor the exposure to our exclusion list, be(come) PRI signatory and demand GRESB participation.
        

Incentives and controls

Reporting requirements

Benchmark

          Long term absolute % goal
        

ESG Objectives

          In infrastructure we currently only invest in renewables for new commitments.
        
          Objective for the manager is to explicitly incorporate ESG risks and possible improvements in investment decisions; this is monitored and discussed with manager on at least a yearly basis. In our selection and monitoring this is being reviewed in a structured way.
        
          We ask managers to be(come) PRI signatory/AIC for North American managers.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation's appointment processes of external managers. [OPTIONAL]

          
        

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