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Quoniam Asset Management GmbH

PRI reporting framework 2020

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Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.2. Indicate whether your organisation plays a role in the engagement process that your service provider conducts.

02.3. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

02.4. Additional information. [Optional]

Our SRI Committee monitors various processes designed to ensure the implementation of the Guidelines for Responsible Investment, and reports to the management board. At the same time, the Committee is a driver of sustainable investment at Quoniam. As a cross-sectional team, the SRI Committee has the responsibility and oversight of implementation and reporting of the principles and guidelines outlined, using our three building blocks of screening, integration and engagement for this purpose.

We collaborate with other companies of the Union Investment Group for engagement cases (see also LEA 01.6). Therefore, our Voting Policy is based on the corresponding policy of the Union Investment Group, which through its extensive ESG team capabilities serves as a central intra-group service provider.


LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Collaborative engagements

Collaborative engagements

Service-provider engagements

Service-provider engagements

03.3. Additional information. [Optional]

The pre-engagement stage and associated research serves to lay the groundwork and generate ideas for Union Investment's engagement activities. Together with more than 45 sectoral analysts, Union Investment's sustainability team (15 analysts) discusses the sustainability-related problems and weaknesses associated with the companies. External data providers such as MSCI ESG Research, Vigeo imug/EIRIS, RepRisk, and Trucost are also drafted in for assistance.

An important basis for Union Investment's engagement process is its sustainability research, which is managed with the aid of SIRIS: SIRIS is a special IT platform that was developed for Union Investment in order to efficiently implement our proprietary approach to sustainability research and broaden our range of socially responsible investing (SRI) services, including engagement. SIRIS has been used by our portfolio managers since August 2013 and is controlled by the sustainability team.

As described in LEA 02.4, Quoniam collaborates with other companies of the Union Investment Group for engagement cases. The Union Investment Group, through its ESG team capabilities, serves as a central intra-group service provider and uses the following criteria to identify and prioritise engagements for each type of engagement:

The ESG topics for our engagement projects are derived from incidents of misconduct by a company (i.e. a violation of one of the aforementioned principles), from analyses and their findings to dialogue with our sustainability team and our sector analysts. Information provided by our stakeholders and clients can also be taken into account in the selection of topics.
When deciding which topics and investee companies to prioritise, we consider a range of factors such as the relevant holdings in our funds, negative lists, company contacts and the general extent of our influence.

Quoniam is actively involved in defining the geographical and contextual scope of engagement activities and topics addressed. Quoniam's internal SRI staff, including the dedicated SRI coordinator are regularly attending meetings of the Union Investment Group ESG team and are reporting on progress to Quoniam’s SRI Committee.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Collaborative engagements
Service-provider engagements

04.2. Additional information. [Optional]

As mentioned in LEA 01.6, we report on our engagement activities for the mutual QFS SICAV funds managed by Quoniam (management company Union Investment) on a quarterly basis, as well as on client demand. These reports include information on our voting behaviour and a summary of all our activities.

For each individual activity subject and objective are reported as well. General objectives are defined through an overall engagement agenda annually.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Collaborative engagements
Service-provider engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Collaborative engagements
Service-provider engagements

05.3. Additional information. [Optional]

We monitor individual company dialogues and the progress against defined objectives by means of the report on our engagement activities for the mutual QFS SICAV funds managed by Quoniam on a quarterly basis.


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

          Re-initiation of engagement activities that have already been undertaken in order to achieve a goal.
        

06.3. Additional information. [Optional]

Through the capabilities of our parent company and service provider, Union Investment Group, among others we use the following approaches for the engagement evaluation and escalation strategy:

The engagement process has a long-term horizon, with results sometimes only becoming apparent after months or years. Our activities, and the results of these activities, are evaluated at regular intervals. The sustainability team also discusses possible consequences for the companies. It is not out of the question for engagement activities that have already been undertaken to be re-initiated in order to achieve a goal. If we are not satisfied with the responses and actions of certain companies in spite of our repeated engagement, those companies are excluded from the investment universe. Exiting from investments as a last resort is also a form of engagement.


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Collaborative engagements

Service-provider engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Collaborative engagements

Service-provider engagements

07.4. Additional information. [Optional]

We provide feedback about the insights gained from engagement via the report on our engagement activities for the mutual QFS SICAV funds managed by Quoniam, which also engages in collaborative engagements, on a quarterly basis.


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements

Collaborative engagements

Service-provider engagements

08.2. Additional information. [Optional]

We track the number of our engagement activities for the mutual QFS SICAV funds managed by Quoniam via the quarterly engagement report, as well as on client demand. The engagement reports include information on our voting behaviour and a summary of our activities.


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