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Colonial First State

PRI reporting framework 2020

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

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Environment and climate change
        
Conducted by
Asset class
Scope and process

A listed infrastructure manager had continued underperformance and maintained a hold rating on a specific stock which was seeing significant share value depreciation from environmental and climate change factors which the internal investment team was not in agreement on.

Outcomes

Deciding factor in the assessment to remove existing manager and replace with a manager that took a long term approach to environmental and climate change factors.

Topic or issue
          Diversity & inclusion
        
Conducted by
Asset class
Scope and process

An external manager received significant negative press with respect to Diversity & Inclusion issues.

Outcomes

Internal consultation with investment manager and leadership on how to proceed. A subsequent downgrade provided by our investment consultant has triggered a review of the appropriateness of continuing the existing relationship for potential replacement.

09.2. Additional information.


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