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Stichting Pensioenfonds Medisch Specialisten

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

          As an example, SPMS excludes producers of tobacco across the portfolio in line with the focus on SDG 3 and the characteristics of the scheme's participants them being doctors.
        
          As an example, SPMS' emerging markets' equity manager has integrated ESG into its decision making process.
        
          Engagament is done through the service provider of SPMS, not by the external portfolio manager.
        
          Voting is done through the service provider of SPMS, not by the external portfolio manager.
        
          The Board of trustees has specifically highlighted stimulating their external managers into becoming more ambitious regarding ESG in their ESG Investment Beliefs
        
          SPMS directs its external managers to comply with industry wide norms we have committed ourselves to, such as UN Global Compact and the OECD guidelines.
        

Incentives and controls

Reporting requirements

Benchmark

          JP Morgan emerging markets debt local currency
        

ESG Objectives

          The manager must follow our exclusion list
        
          ESG factors are part of the decision making process in selecting securities
        
          Engagement is done through our service provider.
        
          Voting usually isn't applicable to sovereign bonds.
        
          SPMS directs its external managers to comply with industry wide norms we have committed ourselves to, such as weapon embargos and taking into account the sanctions of the UN Security Council.
        

Incentives and controls

Reporting requirements

Benchmark

          For example for investment grade corporate credit the scheme has adopted: iboxx Europe corporate, and Barclays US corporate
        

ESG Objectives

          As an example, SPMS excludes producers of tobacco across the portfolio in line with the focus on SDG 3 and the characteristics of the scheme's participants them being doctors. Managers must adopt these.
        
          The use of ESG in deciding which securities to buy is done in varying degrees among the managers in our portfolio.
        
          The Board of trustees has specifically highlighted stimulating their external managers into becoming more ambitious regarding ESG in their ESG Investment Beliefs
        
          SPMS directs its external managers to comply with industry wide norms we have committed ourselves to, such as UN Global Compact and the OECD guidelines.
        

Incentives and controls

Reporting requirements

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

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

          
        

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