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BNP Paribas Asset Management

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

Fixed income Corporate (securitised) – 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)

Fixed income - securitised

Money market instruments

Other (1)

`Other (1)` [as defined in OO 05]

          AlternativesBalancedConvertible BondsReal Estate
        
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

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

BNP Paribas Asset Management (BNPP AM) uses the advisory services of FundQuest Advisor (FQA) for the selection, appointment and monitoring of managers and funds that are external to the BNP Paribas Group. FQA is a 100%-owned BNPP AM subsidiary and is the fund selection arm of the group, with a focus on long-only investment funds.

FQA has been a pioneer in ESG fund research, having set up a proprietary ESG fund rating methodology in 2014. FundQuest Advisor incorporates ESG and SRI analysis within its recommendations of funds and asset management companies as a strong component of its culture. FundQuest Advisor can provide a ranking based on extra-financial/ESG criteria of recommended asset managers/funds in each sector, in addition to the usual criteria taken into account in the assessment of recommended funds:

FQA provides recommendations for the selection of managers external to BNPP AM, notably:

1.     For the delegation of management of BNPP AM products (white labelling). Currently all delegated funds are equity funds. In cases of external delegation of BNPP AM funds, each external manager is required to respect the minimum responsible investment practices (e.g. Responsible business conduct and product-based exclusions, ESG integration, etc.) implemented by BNPP AM. Regarding passive strategies, BNPP AM does not delegate the management of their ETFs or open-ended passive funds to external managers; they are managed internally.

2.     For multi-management products invested in external funds. FQA provides buy-lists of external funds in which BNPP AM's funds of funds can invest. FQA’s Core selection comprises more than 200 funds in most asset classes. In those cases, FQA gathers and analyses information about Responsible Investment policies applied by external managers, and it can thus provide an opinion on the level of adherence of those external managers vis-à-vis BNPP AM's Responsible Investments policies, notably in terms of sector or controversial activities excluded from potential investments.We do not count these external funds in our description of ‘externally managed’ assets, as these pooled funds are utilised as building blocks by our multi-management portfolios (which are already counted in our internally managed assets) for specific portfolio implementation purposes and change over time, whereas our ‘delegated funds’ (point 1 above) represent longer-term relationships where the structure of the product allows us to have more influence over portfolio construction (including ESG constraints such as the implementation of our exclusion lists, etc.).


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]


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