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Cheyne Capital Management (UK) LLP

PRI reporting framework 2019

You are in Direct - Property » Post-investment (monitoring and active ownership)

Post-investment (monitoring and active ownership)

Overview

PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

The contract with each property manager contains covenants to uphold the level of care outcomes. Each property manager must report based on a matrix of social metrics and report on social and care outcomes to ensure no covenants are breached.

For some residential properties Cheyne receives feedback through occupier questionnaires on the quality of homes and care provision.

Cheyne sets a clear selection criteria that is biased towards targeting disadvantaged groups to be beneficiaries of housing that is managed.


Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Target/KPI
Progress Achieved
          Sustainable construction materials
        
          Energy efficiency requirements
        
          Water efficiency requirements
        
          Ongoing maintenance of standards with construction companies
        
          Improvement of building efficiencies within properties to reduce fuel poverty
        
          Property improvements to reduce water wastage
        
Target/KPI
Progress Achieved
          Eviction rates
        
          Care outcomes where applicable
        
          Decent home standard
        
          Maintain low levels across residential properties
        
          Occupier satisfaction is greater than 85% for properties in scope
        
          Greater than 90% of residential properties meet the decent home standard
        
Target/KPI
Progress Achieved
          Oversight of property manager performance
        
          Governance and oversight of the staffing within properties
        
          Governance and oversight of the tenants within properties
        
          We monitor social KPIs in respect of each property manager
        
          We monitor KPIs in respect of each lessee in terms of working standards and conditions
        
          We conduct periodic satisfaction surveys
        

09.3. Additional information. [Optional]


PR 10. Certification schemes, ratings and benchmarks (Private)


Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]


Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

12.3. Additional information. [Optional]

Occupiers are selected with a bias towards delivering services to address deficiencies amongst specific disadvantaged groups including affordable / social housing, sheltered accommodation, care homes etc.

As the Fund has direct ownership of the properties, Cheyne can insert specific covenants within the property manager agreements to protect the interests of the occupier and effect social outcomes. 


PR 13. Proportion of green leases or MOUs referencing ESG issues (Private)


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