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Renaissance Property Securities Pty Ltd

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Renaissance Property Securities investment principles are founded on our belief that each property security has an underlying value and that securities become mispriced relative to this value and relative to each other due to irrational market behaviour including excessive optimism or pessimism towards individual securities or sub-sectors of the property market. Our strategy is to exploit such market inefficiencies by employing and active, value based investment style. Our approach is bottom up investment research into individual securities with a focus on forecasting future income generation potential of each security. Our aim is to outperform our benchmark over rolling 3 to 5 year periods.

ESG factors that we consider to be relevant to property securities are considered alongside financial measures in order to develop a complete view of the risk/return characteristics of each security. The ESG issues most relevant to property securities depend on the asset type, location, life cycle phase, corporate structure, and other individual company characteristics.

Our clients are wholesale institutional clients and have entrusted us to integrate into our investment process those ESG considerations that we consider to be relevant for the property securities market.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

The key elements of our investment policy are summarised in SG 01.4 above. Our ESG policy contains this summary and also states that our responsible investment approach is one of engagement, voting and stewardship. We regularly engage directly with management of companies we invest in on behalf of our clients. We aim to vote on all resolutions offered for vote by companies and our votes are always cast in the best interests of our clients. Finally, we recognise, support and promote best practice on ESG issues that we see as pertinent to the property securities market. Our particular areas of interest are listed in our ESG Policy and are as follows:

  1. Corporate governance associated with property trusts and companies.
  2. Energy efficiency of buildings and building activity (eg. capital expenditure, energy performance ratings).
  3. ESG disclosure for smaller property companies.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].

We have a single comprehensive ESG policy which also includes our enagement policy as well as incorporation and active management approaches.


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Our Conflicts Management Policy provides guidelines on how to identify when conflicts of interest arise. It lists procedures and guidelines to be followed should conflicts of interest be identified. It specifies how conflicts of interest are to be either avoided or controlled. It also stipulates when disclosure to clients is to be made in relation to a conflict of interest, what form that disclosure must take and the timing of the disclosure.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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