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Momentum Metropolitan Life Ltd

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement

Fixed income Corporate (securitised) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Fixed income - securitised

Private equity

Property

Infrastructure

Commodities

Fund of hedge funds

Cash

Money market instruments

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Commodities

Commodities - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Cash

Cash - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Money market instruments

Money market instruments - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

 

Selection process:

- The manager research team is responsible to conduct a rigorous due diligence assessment across the universe of investment managers.  This due diligence process includes a responsible investment section whereby the investment manager will be rated on.

- The manager research team conducts an annual manager research trip to assess potential appointments and existing managers.  The manager score card that is utilised on these trips include a dedicated section on responsible investment practices.

- The manager research team will work closely with the portfolio solutions team to compare the considered peer group and give preference to the investment manager who displays sound responsible investment practices. 

Appointment process:

- The investment manager agreement will include a responsible investment section that requires the investment manager to adopt our responsible investment policy and it clarifies the proxy voting responsibilities.  The investment manager may vote on corporate actions, while Momentum will vote on governance resolutions. 

The investment manager agreement will also request the investment manager to report on a quarterly basis any responsible investment related concerns that we should be aware of. 

Monitoring process:

- Every quarter the appointed managers will provide commentary and is expected to report on any responsible investment concerns that might have occurred over the period.

- Frequent manager report-back meetings are held to ensure the appointed managers comply with the terms of the mandate and continue to implement best and responsible investment practices.

- The manager research team will also request the report-back presentations to contain information specific to responsible investment practices to enable them to monitor the investment manager on that basis.

- The responsible investment team will also have frequent engagements with the investment managers when corporate actions arise and votes need to be cast on behalf of MML Ltd.

Internal process:

Responsible investment practices form part of our outcome based investment philosophy.  The responsible investment team works with the various capabilities within the investment team to embed responsible investment principles and practices.  The responsible investment committee meets on a quarterly basis and serves as an oversight function to monitor the integration of responsible investment principles across the investment team. 


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

Direct - Other asset classes with dedicated modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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