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Bank of America Global Wealth and Investment Management

PRI reporting framework 2020

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

ESG Objectives

          Managers set ESG Objectives for themselves and we review and evaluate these objectives.
        

Incentives and controls

Reporting requirements

Benchmark

          Dependent upon the investment strategy, but we look at the risk-return in context of traditional benchmarks rather than ESG benchmarks.
        

ESG Objectives

          Managers set ESG Objectives for themselves and we review and evaluate these objectives.
        

Incentives and controls

Reporting requirements

Benchmark

          Dependent upon the investment strategy, but we look at the risk-return in context of traditional benchmarks rather than ESG benchmarks.
        

ESG Objectives

          Managers set ESG Objectives for themselves and we review and evaluate these objectives.
        

Incentives and controls

Reporting requirements

Benchmark

          Dependent upon the investment strategy, but we look at the risk-return in context of traditional benchmarks rather than ESG benchmarks.
        

ESG Objectives

          Managers set ESG Objectives for themselves and we review and evaluate these objectives.
        

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]

          The answers above currently relate only to those managers that hold themselves out as ESG managers. 
We allow our investment managers to select their impact themes based on their ESG objectives and work with them to evolve their ESG reporting. If our conviction in a manager’s ability to meet their stated ESG Objectives deteriorates and all other actions have been unsuccessful, we would terminate the manager. On an annual basis, we ask our managers to send updated ESG reports.
        

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