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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
Highlighting the importance of ESG factors in our broad US listed equity manager search
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.
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.
Appointment of new global EM equity manager with leading thinking in deep ESG integration.
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.
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.
Engagement to facilitate written ESG policy or quidelines on couple of existing funds
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.
Both teams with whom we engaged have been working to explore what type of fomulation of ESG process would best enhance their style.