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Los Angeles County Employees Retirement Association (LACERA)

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

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies.
        
          LACERA generally specifies that LACERA retains proxy voting authority in its investment management agreements. To the extent that it does not have voting authority, it seeks to enshrine periodic reporting requirements related to proxy voting.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays US Aggregate
        

ESG Objectives

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA generally specifies that LACERA retains proxy voting authority in its investment management agreements. To the extent that it does not have voting authority, it seeks to enshrine periodic reporting requirements related to proxy voting.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays US Aggregate
        

ESG Objectives

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA generally specifies that LACERA retains proxy voting authority in its investment management agreements. To the extent that it does not have voting authority, it seeks to enshrine periodic reporting requirements related to proxy voting.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays US Aggregate
        

ESG Objectives

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA generally specifies that LACERA retains proxy voting authority in its investment management agreements. To the extent that it does not have voting authority, it seeks to enshrine periodic reporting requirements related to proxy voting.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays US Aggregate
        

ESG Objectives

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies (if applicable).
        
          LACERA generally specifies that LACERA retains proxy voting authority in its investment management agreements. To the extent that it does not have voting authority, it seeks to enshrine periodic reporting requirements related to proxy voting.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

Benchmark

          MSCI ACWI IMI + 200 basis points
        

ESG Objectives

          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG.
        

Incentives and controls

Reporting requirements

Benchmark

          NCREIF Fund Index - Open
        

ESG Objectives

          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG.
        
          Real estate managers are obligated to comply with LACERA's Responsible Contractor Policy.
        

Incentives and controls

Reporting requirements

Benchmark

          DJ BROOKFIELD GLOBAL INFRASTRUCTURE TR
        

ESG Objectives

          LACERA requires managers to abide by its Iran, Sudan, and tobacco related guidelines.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies.
        
          LACERA incorporates into investment management agreements reporting requirements on the extent to which and methods by which managers integrate ESG, conduct engagements, and vote proxies.
        
          LACERA requires managers to monitor their compliance with laws and regulations and report compliance annually as required by the terms of their investment management agreements.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

          LACERA will incorporate its review of compliance into its evaluation of manager quality and take its evaluation into consideration in its multivariate manager scorecard assessment for manager monitoring.
        

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          
        

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