Public HTML RI reports - PRI reporting framework 2020

Nuveen, a TIAA Company

PRI reporting framework 2020

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]

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] 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 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]

Indirect - Inclusive Finance

Context [IFI 01] Selection [IFI 02] Contractual agreements and mandate design [IFI 03] Investment manager monitoring and reporting [IFI 04 - 05] Disclosure [IFI 06 - 07]

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

You are in Direct - Inclusive Finance » PIIF Principle 3: Fair treatment

PIIF Principle 3: Fair treatment

IFD 14. Investment in local currency (Not Applicable)

IFD 15. Average maturity of debt investments (Not Applicable)

IFD 16. Average holding period of equity investments

Possible action:

Provide financing in an appropriate currency and tenor.

Actively support the building of a diversified funding base.

16.1. In relation to your direct portfolio in equity (as reported in IFD 04), indicate the average holding period of an equity investment.

12 months or fewer

13 to 24 months

25 to 60 months

Over 60 months

16.2. Indicate if you have specific policies or procedures in relation to responsible approaches to exit.

Yes

16.3. Indicate if you publish policies or procedures in relation to responsible approaches to exit. Provide a URL. [Optional]

16.4. Indicate if you have specific policies or procedures on Return on Equity (ROE) targets or caps in relation to your equity investments.

Yes

16.5. Indicate if you publish policies or procedures on Return on Equity (ROE) targets or caps in relation to your equity investments. Provide a URL. [Optional]

16.6. Indicate your Return on Equity (ROE) targets, specifying different targets for different funds if applicable. [Optional]

16.7. Indicate if you have a set limit regarding the maximum equity investment exposure of the investees in which you invest.

Yes

16.8. Additional information. [Optional]

IFD 17. Terms and conditions

Possible action:

Negotiate terms and conditions that are transparent, fair and reasonable, including fair break-up clauses.

17.1. Indicate if you adopt the following practices:

Ensure that the investee understands the terms, covenants and their implications prior to signing loan / shareholder documentation.

Describe your process.

          When structuring direct investments, Nuveen engages in extensive negotiation of terms with investees.  These agreements are reviewed by expert legal counsel representing both sides.

Indicate if these practices are formalised in written policies and procedures.

Yes

Foster trust and proactive dialogue with investees through straightforward discussions on issues such as a covenant breach.

Describe your process.

          To the extent possible we leverage the guidance provided by the PIIF on reasonable covenants, and ensure that the investees understand mitigation steps

Indicate if these practices are formalised in written policies and procedures.

Yes

In the case of material covenant breach, create/participate in a voluntary workout group where applicable, with the goal to help the investee remain a going concern whenever possible.

Indicate if these practices are formalised in written policies and procedures.

Yes

Encourage investee skills-building on financial projections, scenario planning and stress-testing for management, and on financial expertise and governance for Directors.

Other (explain)

None of the above

17.2. Additional information. [Optional]

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