You selected an `Other` option in table SAM 02.4 above, please specify
Analysis of ESG capabilities of external manager and ESG characteristics of the fund
Describe how the ESG information reviewed and discussed affects the selection decision making process.[OPTIONAL]
Santander Asset Management (which includes Santander Pensiones) have develop a methodology for analysing third party funds. In 2019 we started carrying out an ESG qualitative analysis for SRI funds, and therefore we cannot say this is applicable to a majority (as it is implied in the question).
In the following reporting year, this qualitative analysis for external managers offering SRI funds will be reinforced through specific DDQs (two sections, one for analysing the manager and other for analysing the product). We will also carry out an ESG quantitative analysis of all third party funds (SRI and non-SRI) in order to obtain an ESG score according to SAM’s ESG methodology. This system is already in place, however it was started in 2020 and therefore does not apply for the 2019 reporting cycle.
In addition, the SRI team holds frequent meeting with external managers in order to understand in deep their ESG capabilities and processes applied.