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Stichting Pensioenfonds Medisch Specialisten

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Our Investment Policy is constructed every year and contains amongst others the objectives and Investment Beliefs. This document is called: "Beleggingsplan". SPMS has an explicit Investment Belief relating to sustainable investing - besides having actual ESG beliefs. As institutional investors, we believe we have a duty to act in the best long-term interests of our beneficiaries. In this fiduciary role, we believe that environmental, social, and corporate governance (ESG) issues can affect the performance of investment portfolios. We also recognise that applying these Principles may better align investors with broader objectives of society. Therefore, where consistent with our fiduciary responsibilities, SPMS commit to the following:

To incorporate Environmental, Social and Corporate Governance (ESG) issues into
investment analysis and decision-making processes;
To be an active owner and to incorporate ESG issues into our ownership policies
and practices;
To seek appropriate disclosure on ESG issues by the entities in which we invest;
To promote acceptance and implementation of the Principles within the
investment industry;
To work with the PRI Secretariat and other signatories to enhance their effectiveness in implementing the Principles;
To report on our activities and progress towards implementing the Principles.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

The investment policy of SPMS relating to ESG consists of four pillars: 1) exclusion, 2) engagement, 3) voting, and 4) ESG integration into the portfolios. The starting point of our investment policy are the (inter-)national agreements we have committed ourselves to, including the UN Global Compact, Principles for Responsible Investment and Guiding Principles on Business and Human Rights from the UN, the OECD guidelines for multinational enterprises, and the Dutch Stewardship Code.

SPMS has also committed themselves to the Dutch pension fund initiative IMVB Convenant or in English: the International Responsible Business Conduct (IRBC) Agreement for Pension Funds (see https://www.imvoconvenanten.nl/-/media/imvo/files/pensioenfondsen/pension-funds-agreement.pdf).

SPMS has also developed ESG policy directly related to its character of being a pension fund for health care medical specialists, after consultation with a selection of its participants. Within this policy two UN Sustainable Development Goals have been identified as key investment objectives (SDG 3 and 7), and moreover, there is an additional exclusion policy on Dutch hospitals and producers of tobacco. 

SPMS also expects companies to adhere to its own standards regarding corporate governance and subsequently issues an annual set of guidelines. The objectives include: 1) Improving the Board structure and make up, 2) Optimise the renumeration policy to such an extent that the executive management gets rewarded for creating and maintaining shareholder value in the long term, 3) Developing internal control and risk management systems, and 4) Protect the rights and interests of minority shareholders.

 

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Policy on managing conflicts is part of the Dutch Stewardship Code. 

"Asset owners and asset managers identify, manage and remedy actual and potential conflicts of interest in relation to their stewardship activities towards Dutch listed investee companies. Asset owners and asset managers publicly disclose their conflicts of interest policy in relation to their stewardship activities."

See: https://www.eumedion.nl/en/public/knowledgenetwork/best-practices/2018-07-dutch-stewardship-code-final-version.pdf

 

 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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