This report shows public data only. Is this your organisation? If so, login here to view your full report.

Veritas Pension Insurance Company Ltd

PRI reporting framework 2020

Export Public Responses
Pdf-img

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Highlighting the importance of ESG factors in our broad US listed equity manager search
        
Conducted by
Asset class
Scope and process

We ran a comprehensive search process to reunderwrite existing managers and introduce selection of new ones in our active US equities instrumentation. In that process quality and integration of ESG processes were from early on a important screening factor. 

Outcomes

Many of the smaller boutique US managers of whom some are still slightly less educated on explicit ESG processes (implicitly they are often doing many of the fundamental aspects of ESG) are now more aware of the importance of these aspects to European pension clients. All of the managers that subsequently ended on shortlist and ultimately invested were able to display pretty robust ESG competence and in cases where some aspects of formal policy were lacking, right attitude on working to imporve it. 

Topic or issue
          Appointment of new global EM equity manager with leading thinking in deep ESG integration.
        
Conducted by
Asset class
Scope and process

As part of wide global EM equity search we identified and decided to invest in portfolio run by firm with exceptionally deep and profoundly thought through ESG process. This acts an important sparring partner for our own processes as well as a peer benchmark to our other managers.

Outcomes

Investment decision was done 2019 and research was also conducted durinf that year, although the actual funding was delayed to 2020. The outcome until so far has been significant learning curve for fund selection team in terms of what can be achieved with very thoughtful ESG implementation.  

Topic or issue
          Engagement to facilitate written ESG policy or quidelines on couple of existing funds
        
Conducted by
Asset class
Scope and process

Couple of managers in our line up are doing most of the things associated with thorough ESG processes already as part of their fundamental bottom up work but had not formally created an official written ESG policy. We wanted them to take steps to formalize and even further to strengthen their ESGM activities.

Outcomes

Both teams with whom we engaged have been working to explore what type of fomulation of ESG process would best enhance their style. 

09.2. Additional information.


Top