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Macquarie Asset Management

PRI reporting framework 2019

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Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Macquarie Group’s environmental, social and governance (ESG) commitment reflects our responsibility to clients, shareholders and the communities in which we operate.

Macquarie Group maintains a group-wide Environmental and Social Risk (ESR) policy, which governs the management of environmental and social issues including labour, employment practices, human rights, resource efficiency, climate risk, pollution prevention, biodiversity and cultural heritage. This ESR policy is based on international guidelines, including the International Finance Corporation Performance Standards.

The ESR policy is applicable to Macquarie Group. Macquarie Group businesses, including Macquarie Asset Management (MAM), are required to maintain business-specific due diligence and approval processes consistent with the group-wide ESR policy.

Some divisions of MAM also have their own policies which address ESG, supplementing the Macquarie Group ESR and other policies to reflect the ESG considerations associated with their particular businesses.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

01.6. Additional information [Optional].

          
        
I confirm I have read and understood the Accountability tab for SG 01 I confirm I have read and understood the Accountability tab for SG 01

SG 01 CC. Climate risk (Not Applicable)


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].

Macquarie Group makes its ESR policy and ESG governance approach publicly available. The ESR policy and approach is applicable to all five of Macquarie's operating groups including Macquarie Asset Management.

https://www.macquarie.com/uk/about/company/environmental-social-governance-esg


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Corporate governance in Macquarie-managed funds

Each fund adopts an appropriate governance framework to ensure that key decisions are taken in the best interests of investors, consistent with the fund’s mandates and regulatory requirements.

The key elements of Macquarie Group’s corporate governance framework for funds are:

  1. Appropriate management of conflicts of interest arising between a fund and its related parties. Related party transactions should be identified clearly, conducted on arms length terms and tested by reference to whether they meet market standards. Decisions by listed funds about transactions with Macquarie or its affiliates should be made by parties independent of Macquarie
  2. Appropriate resourcing of funds management businesses. In particular:
  • Staff involved in managing a fund should be dedicated to the relevant funds management business, rather than to advisory or other activities
  • All recommendations to fund boards (and supporting information) should be prepared or reviewed by funds management staff
  • Each listed fund that invests in operating assets or businesses should have its own managing director or chief executive officer and a majority of independent directors on the fund board
  • Information barriers operate to separate Macquarie’s corporate finance, advisory and equity capital markets businesses from its funds management businesses.

For more information:

http://www.macquarie.com/au/about/company/environmental-social-governance-esg

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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