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Grupo Fineco

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

We include ESG criteria as an additional requirement when selecting and appointing an external manager. We value very positively that the manager is a PRI signatory although it is not an exclusion-criteria (we do not exclude a manager if it is not a PRI signatory)

For both equity and fixed income, we require our external managers to provide with the details of how the include they ESG criteria in their investement process. We ask them how they engage with companies where they invest in and the specific monitoring process for ESG variables when they invest in companies with poor sustainability ratings.

In our due diligence process, in addition to the "traditional" questionnaire to evaluate external managers, we have developed a comprehensive list of questions to understand their ESG approach. The answers we receive (both in relation to traditional finace and ESG approach) are included in a matrix where ESG plays a very important role in the final score.

For fixed income, given that we have given a "global fixed income mandate" to two managers (Amundi and PIMCO) in order to manage two sub-portfolios of one of our mutual funds, in addition to manage the portfolio using ESG criteria (this is not negotiable), we are asking our external managers to provide us with ESG reporting to understand better environmental and social impact of our investments although it is not easy to integrate afterwards information from both managers given the different concepts and methodology. There is a formal commitment to achieve in 2020 an ESG label (probably Luxflag) for the fund where the two sub-portfolios are.

For equities, our clients have the possibility to invest in two fund of funds (apart from one Fineco-directly selected stocks fund) where the ESG score in the external manager evaluating matrix pays a vital role. 


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]

We would like to highlight the milestones we have achieved during this 2019 given that we have worked hard to implement ESG projects that couldn´t be completed in 2018:

- Board of Directors approved the commitment in the strategic plan 2019-2021 to achieve ESG integration in 100% of our AuM.

- Then new website, expected to be active H2/2020 will have a specific mention to Fineco´s commitment towards sustainability, both at company level and investments level.

- ESG Label for one of our funds (by Aenor) and commitment to increasing ESG labels for all our funds at a steady pace

- Establishment of an independent ESG committee to oversee the steps and work done in Fineco in relation to ESG matters, such as integration, active ownership, monitoring and resolving controversies, etc.

- In relation to the proxy voting, we have reached an agreement with Alembeeks to get their assessment to vote in the General Shareholders Assembly in 2020. We have not voted in 2019 but we have closed an agreement so start voting in 2020. We wanted to highlight it as another step in the right direction. We will highlight it again in the Proxy Voting module.


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