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LGPS Central

PRI reporting framework 2020

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

ESG Objectives

          ESG factors must be identified, assessed and incorporated into investment decision-making in a way that is suited to the fund managers investment strategy and style. We assess this prior to appointment (via DDQ, RfP, meetings, and so on) and on an ongoing basis through quarterly disclosure questionnaires, calls/ meetings, and use of ESG tools.
        
          Engagement must be a core part of a fund managers investment process. We assess this prior to appointment (via DDQ, RfP, meetings, and so on) and on an ongoing basis through quarterly disclosure questionnaires (which requires a list of engaged companies and details of the engagements), and calls/ meetings.
        
          In order to send a unique voting signal to investee companies LGPS Central votes its shares - whether externally or internally managed - according to one set of Voting Principles. Whilst the ultimate voting decision rests with LGPS Central, we have a procedure through which we capture intelligence and recommendations from active equity fund managers. We send each fund manager a Voting Onboarding Pack which explains this procedure, contains our Voting Principles, and we establish an auto-generated email system which prompts external fund managers to provide views to us prior to an investee's AGM.
        

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]

          We include ESG terms in our IMAs, LPAs, side-letters, or other documents as appropriate.
        

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