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Joseph Rowntree Charitable Trust

PRI reporting framework 2019

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


ESG Objectives

          We expect our fund managers to explain their approach to ESG issues to us.
          Our fund managers are advised that we do not want to invest in companies materially involved in armaments, gambling, tobacco and new generation nuclear power stations, and government bonds issued by states with high military expenditure or oppressive regimes. We also avoid extractive industries with poor human rights or environmental practices and all fossil fuel extractive companies. In the event that our fund managers invested in any of these sorts of companies or assets, we would expect them to let us know as a matter of urgency.
          We expect our fund managers to regularly report to us on, and update us on, how they integrate ESG into their investment processes.
          We expect our fund managers to report to us on all material engagements.
          We expect our fund managers to disclose their voting records to us.
          We expect our fund managers to be signed up to initiatives such as PRI and the FRC Stewardship Code.
          We expect that our fund managers will adhere to common standards of good practice in relation to ESG issues.

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]