Fineco currently implements a different level or requirements for external managers:
- For the Fund of Funds strategies, Fineco has a "good-to-have" but not exclusionary criteria when monitoring, selecting and appointing external managers: managers are encouraged to be PRI signatories, integrate ESG criteria and develop proxy voting/engagement activities. But if an external manager does not have any of them is not excluded. We delegate our voting and engagement on those managers but we pay attention to their Voting and Engagement reports they publish on an annual basis. In case of a discrepancy with our values/point of view, we are thinking how tough we should be but we have not a final decision yet.
- For the global fixed income mandate, Amundi and PIMCO were required to manage their portfolios with ESG integration, to include ESG criteria in their reports and to develop engagement activities. We know that they have permanent and temporary exclusion lists but we ask them for ESG integration at different assets: SSA, corporate and financial bonds.