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Irish Life Investment Managers

PRI reporting framework 2019

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

ILIM is a global investment management firm with over c. €67bn in assets as at 31.12.2018 across a broad range of asset classes including equities, fixed income, property and alternative assets. ILIM manage assets on behalf of a diverse range of global institutional clients including pension plans, investment advisers, insurance companies, corporations, charitable and sovereign funds across UK, Europe and North America.

ILIM’s investment management capabilities and tailored approach to meeting client’s investment management needs are proven to add value to our clients and are evident in our high calibre international client base and our leading domestic position.

(i)            Client Centric Business

ILIM is committed to the development and provision of the most appropriate investment solutions for our clients. A key differentiating factor for ILIM is our ability to deliver bespoke solutions that enables clients to meet their specific investment objectives. The flexibility and quality of our service and focus on tailoring solutions has delivered both client value and a competitive advantage relative to other international asset managers.

Understanding our clients’ investment objectives and addressing their specific needs is at the centre of every decision we make. We consistently demonstrate the insight, dedication and ability necessary to identify and anticipate the changing needs of our clients. Product development, service enhancement and operational flexibility have been critical to achieving this. 

Recognising the needs of our clients and building a business centred around them ensures we will always remain a relevant and valued investment partner as they seek to achieve their investment objectives into the future.

(ii)           Investment Capabilities

ILIM’s investment philosophy is that by delivering structured investment processes, we aim to manage risk and deliver the desired outcomes to clients. In this regard, ILIM offers a range of Multi-Asset portfolios and has core expertise in Indexed solutions, Quantitative solutions and Property.

(iii)          Quantitative Asset Management Expertise

Established in 1996 our Quantitative Strategies Group (QSG) manages over €11Bn in Multi-Asset portfolios and over â‚¬7bn in quantitative strategies as of 31.12.2018. The QSG are a core part of the solution ILIM deliver to clients and are responsible for the research, development and management of ILIMs quantitative equity strategies.

With over 15 years’ experience and a demonstrable track record and performance in harnessing factor premia and managing alternative/smart beta strategies, the team has continued to deliver innovative solutions to help clients meet their investment objectives including;

  • Specific tactical equity overlays;
  • Low volatility equity strategies across regional and global markets;
  • Multi factor equity strategies across regional and global markets, and;
  • Multi-Asset Portfolio Solutions designed to meet specific investor needs

(iv)          Indexation Expertise                  

With total indexed assets under management of c. €44bn as at 31.12.2018, Indexation is a core business at ILIM and is evidenced by of our proven capabilities, highly accredited indexation process and flexibility of service in relation to tailored mandates.

The strength of our indexation capabilities and operational processes are evidenced by the “A/Buy” global ratings we have secured from major international investment consultancies.  

Unlike our competitors who have a house preference for the range of index options that they will make available, ILIM offers a very different and unique proposition which is particularly attractive to product manufacturers and investment allocations.

In ILIM, we view indexation as a competency and view systems and processes as enablers. We have the ability and operational infrastructure to provide index products to any index, region, sector, factor and theme. Therefore we do not seek to limit the potential options available to our clients thereby giving them the maximum flexibility and scope to use indexation effectively and capture its full potential in their client solutions and for the profitability of their businesses. ILIM apply our core competency to enable clients access the full breadth of strategies available from index providers globally and to build bespoke indexed solutions where required. Our clients use this flexibility for a variety of different purposes including ESG overlays, factor based overlays, currency hedging and accessing new index options.

(v)      Property Investment  Expertise

Irish Life Property’s investment process is driven by a combination of top down research and market knowledge, which informs asset allocation decisions and sector allocation calls, and a bottom up stock specific process which drives individual property acquisition, disposal and asset management decisions, overlaid by operational and portfolio risk controls.

Asset allocation and strategic fund investment decisions as well as sector allocations and target weighting are informed by property market and sector forecasts. This informs strategic market and sector decisions and risk appetite and sets the context for individual property transactions and asset management proposals.

The team has an absolute belief in and commitment to rigorous stock selection and active management at an individual asset level. Successful performance delivery involves understanding how to maximise value through the life span of each asset. This requires a combination of detailed knowledge of every aspect of an individual asset, a creative approach to identifying value add opportunities, a clear understanding of value drivers, a realistic and structured appraisal approach, constructive practical peer review, a robust approval process for key decisions and an efficient and disciplined approach to due diligence and deal execution.

The Property team delivers within a structured and disciplined operating model around clearly defined functions, fund & portfolio management, asset management and investment transacting. Each function has clearly defined roles and objectives, which collectively deliver investment solutions and performance.


OO 02. Headquarters and operational countries

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

Ireland

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

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

199 FTE

02.4. Additional information. [Optional]

ILIM is an investment firm authorised by the Central Bank of Ireland under Statutory Instrument 375/2017 European Communities (Markets in Financial Instruments) Regulations 2017 (MiFID II Regulations). Our products and services are available across Europe.

ILIM is registered with the SEC as an investment adviser pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”).

ILIM has been granted the International Adviser exemption from registration in Manitoba and Ontario in Canada.

ILIM is the promoter of and an appointed investment manager and distributor to Beresford Funds plc (formerly ILIM Funds plc), a self-managed UCITS (Undertaking for Collective Investment in Transferable Securities) regulated by the Central Bank of Ireland.


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.

03.3. Additional information. [Optional]


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

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

04.5. Additional information. [Optional]


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.

Internally managed (%)
Externally managed (%)

 

Listed equity >50% 52.77 0 0
Fixed income 10-50% 27.67 0 0
Private equity 0 0 0 0
Property <10% 6.06 0 0
Infrastructure 0 0 <10% 0.01
Commodities <10% 0.47 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 7.71 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 <10% 5.32
Other (2), specify 0 0 0 0

'Other (1)' specified

          Alternatives
        

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

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

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

94 Developed Markets
6 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]


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