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Poste Vita S.p.A.

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.

Poste Vita’s Responsible Investment (RI) policy reflects Gruppo Poste Italiane’s Sustainability Plan by incorporating ESG considerations in the scope of insurance and financial activities. The RI policy aims to deliver positive economic, environmental and social impacts, to establish a sound communication with the Company’s stakeholders and to adhere to international principles and guidelines. Poste Vita’s RI policy is conveyed to external managers who are required to observe at least the main guidelines. Poste Vita’s incorporation of ESG starts with the ESG assessment of issuers both governmental and corporate in the Company’s portfolio, which is built by reflecting also an exclusion criteria. The Investment Committee is responsible for ESG assessments, which pair internal analysis with externally provided information. The process continues with regular monitoring of the issuer’s ESG profile. The Company’s RI policy provides also with guidelines for engagement and proxy voting and guidelines for specific sensitive sectors.

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]

Poste Vita’s investment policy has adjusted in accordance with the introduction of RI objectives and strives to carry out the investment activities and to pursue the traditional financial objectives incorporating ESG. On the one hand, this overarching goal is witnessed by one remarkable achievement that Poste Vita obtained for the reporting year: it was awarded by Capital Finance International as “Best Pension Fund Governance” for combining ESG principles with the performance required by investors. On the other, Poste Vita is committed to enhance the RI approach in managing its portfolio: this goal reflects on an investment strategy that aims to improve the ESG profile of the portfolio, considering the ESG score of all the included assets. At the end of this reporting year, Poste Vita managed to strengthen the ESG score of its portfolio: the weighted average score of the portfolios assessed was 51/100 in relation to the assets managed by the Poste Vita for corporate issuers and 75/100 in relation to governmental issuers. This result was higher than the ESG score of a benchmark of Ishares MSCI World ETF that was 39/100 at the same date.

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.


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.

Poste Vita's policy identifies the potential circumstances from whom conflict of interests may originate. The policy steers attention to the distributor's interest either in promoting and distributing the agreement or in receiving a commission from Poste Vita. The Company established procedures for monitoring and managing any conflict of interest that may arise between the Contractor and the organisations listed in the dedicated policy.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios (Not Completed)