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Railways Pension Trustee Company Limited

PRI reporting framework 2020

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You are in Strategy and Governance » Investment policy

投資ポリシー

SG 01. RI policy and coverage

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

当てはまるものをすべて選択してください。
ポリシーの構成要素/種類
AUMの対象範囲 
          UK Stewardship Code

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務（または同等のもの）の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

The Trustee’s investment beliefs summarise our approach under the categories of governance, returns, risk and implementation. One of the investment beliefs specifically addresses the impact that environmental, social and governance factors have on long-term investment returns. 

https://www.rpmirailpen.co.uk/trustees-beliefs/

 

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

Our Sustainable Ownership framework considers environmental, social and governance impacts through four lenses:

i)   Improves investment returns
ii)  Reduces investment risk
iii)  Impacts our reputation as a responsible investor
iv)  Impacts the world our beneficiaries retire into

Our 3 focus areas:

1. Integration in portfolio management
2. Active Ownership
3. Longer-term risks and opportunities

Our approach to Sustainable Ownership including our voting and engagement policies and adherence to stewardship codes is outlined on our website:

https://www.rpmirailpen.co.uk/sustainable-ownership/

https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/Sustainable-Ownership-Report-2019.pdf

https://www.rpmirailpen.co.uk/wp-content/uploads/2018/07/rpmi_uk_stewardship_compliance_statement_may_2018.pdf

https://www.rpmirailpen.co.uk/wp-content/uploads/2019/10/RPMI-Railpen-2019-2020-voting-policy_F.pdf

01.6. 補足情報 [任意]

SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/sustainable-ownership/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/wp-content/uploads/2019/10/RPMI-Railpen-2019-2020-voting-policy_F.pdf

02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/sustainable-ownership/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/trustees-beliefs/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/integration/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/active-ownership/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/active-ownership/

URL/添付ファイル

URL https://www.rpmirailpen.co.uk/long-term-risks-opportunities/

02.3. 補足情報 [任意]

We also provide an overview of our Sustainable Ownership framework in the annual report of the Trustee Company.

For more examples of our responsible investing activities, please see our 2019 Sustainable Ownership report: https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/Sustainable-Ownership-Report-2019.pdf

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

Potential conflicts of interest are addressed in three ways:

  1. The Trustee Company expects its external asset managers to have effective policies addressing potential conflicts of interest, when it comes to matters of stewardship and investment practice. We also consider conflicts of interest in our appointment and monitoring of service providers.
  2. Under the Code of Conduct, Railpen staff are required to disclose any interest in any company, or other entity, in which the Trustee Company has an ownership interest. The compliance function runs a corporate watch list and a personal securities and investments dealing policy to further limit conflicts of interest. 
  3. The Trustee Company’s voting policies are applicable to all listed companies, including without exception those that participate as employers in railway industry pension schemes

03.3. 補足情報 [任意]

If we vote against management at an AGM of a company which is a sponsoring employer within the Railways Pension Scheme, we will notify our MD, Investments and the Head of the Client Investment Team. In 2019 we sent 23 notifications of this type. 

We follow a similar process when we voting against management at the AGM of a company which is a tenant in our internally-managed Property portfolio. In this case, we notify our MD, Investments and the Head of Property. In 2019, we sent 9 notifications of this type.

SG 04. Identifying incidents occurring within portfolios (Private)

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