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PRI reporting framework 2020

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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

          For a passive mandate, the manager is measured against an adjusted benchmark which reflects our exclusion list. For active mandates, we require the managers to adhere to our exclusion list and leave them the choice to be measured against an adjusted or non-adjusted benchmark.
        

ESG Objectives

          We require the implementation of our exclusion list wherever economically sensible.
        
          We encourage fundamental managers to engage with invested companies.
        
          We encourage our managers to exercise their voting rights.
        

Incentives and controls

Reporting requirements

Benchmark

          We use a commonly used standard Private Equity benchmark that does not explicitly address ESG considerations.
        

ESG Objectives

          Our expectation is that managers incorporate an assessment of the risk stemming from ecological, social or governance issues in their Investment decisions.
        

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]

          We do not require formal reporting on ESG objectives, but typically review in one-on-one meetings if and how ESG issues were dealt with during the reporting period.
        

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