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Ninety One

PRI reporting framework 2020

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Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          Investment team Heads
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Ninety One has a global ESG team, which is responsible for managing and guiding stewardship and responsible investment. The team consists of seven individuals with diverse backgrounds, skills and experience. Team members share a passion for sustainable development and a commitment to investing for a better tomorrow. 

The team is led by Therese Niklasson, Global Head of ESG, and she is supported by a team of ESG specialists with a broad range of knowledge across ESG-related topics. All team members contribute to ESG research, advocacy, proxy voting and engagement, however each member also has a focus area or specialism.

The ESG team is core to our investment platform. It works closely with each of our investment teams to support the integration of ESG, promote active ownership, and facilitate research and learning. We place great emphasis on physically locating the ESG team within the investment teams, which encourages open discussion and the sharing of ideas and insights. Members of investment teams with a particular passion for ESG are informally appointed ‘ESG champions’; they help to share knowledge and embed ESG within investment process.

The ESG team reports into the Investment Governance Committee (IGC) on a quarterly basis, which is responsible for reviewing activities related to the philosophy, approach and execution of stewardship. The IGC has a transparent governance structure and comprises Ninety One’s Co-Chief Executive Officers, Co-Chief Investment Officers, General Counsel, senior members of the investment teams and senior members of the ESG team, including Therese Niklasson.

Therese also leads the Sustainability Forum at Ninety One alongside Tom Nelson, Head of Natural Resources. This forum is attended by members of the investment teams and hosts discussions on topics that affect investments, firms, industries and the wider world.

In addition the key teams and committees within the business meet on a regular basis to govern stewardship. The ESG team takes part in a number of formal and informal meetings (note the frequency may vary) to help execute their responsibilities, which include:

  • ESG team weekly meeting
  • Weekly proxy voting meeting
  • Weekly private markets meeting
  • Quarterly Investment Governance meeting
  • Bi-annual ESG strategy meeting
  • Annual ESG offsite
  • Investment team meetings where relevant
  • Annual investment team offsites where relevant
  • Quarterly Sustainability Forum meetings

Our commitment to specific initiatives also prompts us to monitor stewardship at Ninety One and report as appropriate.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

7 Number

07.4. Additional information. [Optional]

The ESG team is based in both London and Cape Town and represents a diverse set of backgrounds, with academic and professional expertise across a broad range of ESG areas. Team members bring experience and skill in areas including: governance, private equity, data and quantitative analysis, and environmental management.


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

External managers or service providers

07.8 CC. Indicate how your organisation engages external investment managers and/or service providers on the TCFD recommendations and their implementation.

Specify

          We have extremely limited exposure to an external manager. We have engaged them over the last year on the importance of them supporting the TCFD
        

SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.1b. RI in personal development and/or training plan

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Operating Officer (COO), Investment Committee

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Other C-level staff or head of department

          Investment team Heads
        

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Portfolio managers

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Investment analysts

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Dedicated responsible investment staff

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

The investment teams are expected to uphold the Ninety One Stewardship Policy at any time through their processes. The leadership of the investment teams together with the ESG team works with the analysts and Portfolio Manager's to understand the value of active stewardship and ESG integration. There is currently no monetary incentive specifically for ESG and is instead considered as part of their qualitative investing capabilities. The Chief Investment Officers keep a close check on progress on integration and any inconsistencies with the stewardship approach will be addressed through the Investment Governance Committee on a quarterly basis and dealt with accordingly.

As mentioned, at the beginning of each year the ESG team and investment team heads establish outcomes and goals for the development of ESG within their team over the coming year. These look to achieve best practice across team awareness, training, ensuring effective use of research and data, facilitating research efforts, and participation in external initiatives and active ownership responsibilities. We report on the progress that each of the teams achieve in our annual stewardship report.

Over the year, the ESG team have developed a best practice framework for ESG integration. An assessment in line with this framework allows us to understand how the investment teams are currently positioned, the quality and consistency of integration, and any gaps that need to be addressed. The aim of this approach is to understand the stages of the investment process that need to improve, allowing teams to focus on areas that will add the most value.


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