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ACTIAM

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] ESG incorporation in passively managed fixed income [FI 13] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct - Property
Overview [PR 01] Fundraising of property funds [PR 02 - 03] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Inclusive Finance
Context [IFD 01 - 06] PIIF Principle 1: Range of services [IFD 07 - 10] PIIF Principle 2: Client protection [IFD 11 - 13] PIIF Principle 3: Fair treatment [IFD 14 - 17] PIIF Principle 4: Responsible investment [IFD 18 - 24] PIIF Principle 5: Transparency [IFD 25 - 27] PIIF Principle 6: Balanced returns [IFD 28 - 31] PIIF Principle 7: Standards [IFD 32 - 34]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Listed Equity Incorporation » Outputs and outcomes

成果および結果

LEI 12. How ESG incorporation has influenced portfolio composition

12.1. 組織のESG組み入れ戦略がポートフォリオや投資ユニバースの構成にどういう影響を与えているかを記載してください。

最初の投資ユニバースの削減またはその他の効果について説明してください

Screening leads to a reduction in the investment universe in both the active and passive funds. For the passive funds, please see the box below for the weightings of the exclusions.

削減率を明記してください(+/- 5%)

5 %

投資ユニバースの変更またはその他の効果について説明してください

In our actively managed funds, the thematic overlay leads to additional companies that are not considered due to low ESG scores/controversies

ESG統合後の効果を記載してください。

組成またはその他の効果に対する影響を説明してください

The incorporation of ESG issues in our passively managed funds has led to an exclusion of the following sizes, in relation to each benchmark (31/12/2019):

For responsible strategies:

Europe: 5.5%
North America: 5.2%
Pacific: 3.8%
Emerging markets: 9.9%

 

For sustainable (enhanced) strategies:

Europe                            42,3%

North America                  34,2%

12.2. 補足情報 [任意]

LEI 13. Examples of ESG issues that affected your investment view / performance

13.1. 組織の投資見解や報告年度のパフォーマンスに影響を与えたESG問題の例を挙げてください。

ESG要因および説明

The ESG Score of a company was set to 20 (the scale of the ESG scores is 0-100). 
適用したESG組み入れ戦略 Integration

投資決定やパフォーマンスへの影響

A company with whom we conduct responsive engagement, gets an ACTIAM ESG Score of 20. This means that the company is automatic no longer investable for the sustainable portfolios, as the minimum ACTIAM ESG score within these portfolios is required to be above 20.

ESG要因および説明

Consideration of 'the degree of freedom' of a country, as established by the Freedom House. In 2019, the Freedom House has declined Uganda’s status from Partly Free to Not Free due to attempts by the government to restrict free expression, including through surveillance of electronic communications and a regressive tax on social media use. 
適用したESG組み入れ戦略 Screening

投資決定やパフォーマンスへの影響

The annual screening of sovereigns reveals if a sovereign has been considered 'Not Free' by the Freedom House. 'Not free' countries are excluded from ACTIAM's investment universe.

ESG要因および説明

When new issuers are added to a benchmark, ESG Screening is performed on the issuers
適用したESG組み入れ戦略 Screening|Index incorporating ESG factors

投資決定やパフォーマンスへの影響

Due to violation of several ESG policies (such as on human rights and environment) new entries to the benchmark are not bought. In 2019, this was applied to several companies, especially in the Emerging Markets.

ESG要因および説明

Screening of current exclusions list 
適用したESG組み入れ戦略 Screening

投資決定やパフォーマンスへの影響

While screening the current exclusions list, issuers no longer in violation of our policies will be included again. In the beginning of 2019, a company previously excluded due to the practice of mountain top removal was reviewed. In-house research has confirmed such company was not applying such activity anymore, confirmed by other sources. The company was therefore added again to the investable universe. 

ESG要因および説明

By continuously screening ESG News, a set of companies came up with controversies related to Human Rights impacts. Research was performed and the company excluded due to such violation (before the actually ESG Score is adjusted). 
適用したESG組み入れ戦略 Screening|Thematic|Integration|Index incorporating ESG factors

投資決定やパフォーマンスへの影響

Given the serious and significant ESG news, the decision is made to exclude the company and divest, even though ESG Score had not yet been adjusted.

13.2. 補足情報 [任意]

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