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New York State Common Retirement Fund

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

          ESG Report
http://www.osc.state.ny.us/reports/esg-report-mar2017.pdf
        
          Tobacco

Sudan and Iran
https://www.osc.state.ny.us/press/releases/june09/063009a.htm

Firearms
https://osc.state.ny.us/press/releases/jan13/011513.htm

BDS
https://www.osc.state.ny.us/press/releases/june16/062916.htm

Private Prisons
        
          We require managers to consider material ESG factors into their investment decisions.

ESG Report: PGS 12-13
http://www.osc.state.ny.us/reports/esg-report-mar2017.pdf
        
          We encourage managers to engage with issuers on key ESG risks such as climate risks.

ESG Report: PGS 4-5
http://www.osc.state.ny.us/reports/esg-report-mar2017.pdf
        
          We encourage manager voting best practices and alignment.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

          In all investment decisions CRF has an opportunity to include these considerations such as in the (1) decision whether or not to invest additional capital in the strategy, (2) decision to invest with same manager in a second investment vehicle or/and strategy and (3) decision to end the relationship with the manager with respect to this strategy
        

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          
        

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