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BT Funds Management (NZ) Limited

PRI reporting framework 2020

You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Cash

  • Screening through an exclusion list is incorporate across all cash accounts.
  • Integration is utilised for all cash accounts to varying degrees. In general, smaller corporate non-rated entities are more intensely scrutinised than are larger, well known public/listed entities and registered banks. The logic being larger public/listed entities come under broader public/investor scrutiny and the latter under Reserve Bank of New Zealand supervision. However, BTNZ do acknowledge that there are from time to time exceptions which require indepth analysis.
Money market instruments
  • Screening through an exclusion list is incorporate across all money market instruments.
  • Integration is utilised for all money market instruments to varying degrees. In general, smaller corporate non-rated entities are more intensely scrutinised than are larger, well known public/listed entities and registered banks. The logic being larger public/listed entities come under broader public/investor scrutiny and the latter under Reserve Bank of New Zealand supervision. However, BTNZ do acknowledge that there are from time to time exceptions which require indepth analysis.
  • Company raw data primarily comes from company reporting, presentations, media and market sources (such as Bloomberg and sell-side research). BTNZ also subscribes to Sustainalytics database for company analysis and ratings. 
  • The focus has traditionally been dominated by issuer governance factors, however the urgency to address climate change and sustainability factors has heightened the importance of integrating a fuller ESG approach into BTNZ's analysis.
  • An overview of ESG factors is incorporated in the issuer research note prepared by BTNZ. An ESG rating is assigned.

16.2. Additional information [Optional].


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Hedge funds - DDQ (Fund of Hedge Funds)

Select whether you use the PRI Hedge Fund DDQ

Fund of hedge funds
  • Within our hedge fund allocation we continue to work with the external managers to include ESG factors into their investment decision making process and encourage external reporting, including their engagement with the investee companies. We also expect our managers with direct equity/ fixed interest holdings to adhere to our exclusions framework.

Other (1) [as defined in Organisational Overview module]

  • Within our alternative risk premia allocation we continue to work with the external managers to include ESG factors into their investment decision making process and encourage external reporting, including their engagement with the investee companies. We also expect our managers with direct equity/ fixed interest holdings to adhere to our exclusions framework.

17.2. Additional information.


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