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Bloomberg LP Retirement Plans

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.

Bloomberg established the Plan to allow employees to fund retirement/other financial needs and provide different investment options to enable participants to invest according to varying risk tolerances/savings time horizons/financial goals. Objectives of the Plan include:

1) Providing opportunities to supplement retirement income

2) Providing prudent investment options meeting the needs of Bloomberg’s workforce

3) Offering competitive investment options

4) Encouraging high participation rate. 

Bloomberg integrates ESG into selection criteria/monitoring processes - consideration is given to include funds managed by firms committed to incorporating ESG factors into investment processes - alongside other factors: investment manager organization, fees, investment process, asset levels, performance. Bloomberg believes ESG issues pose risks/opportunities for portfolios/portfolio companies and real assets and impact investment risks/returns. Also, Plan participants may have strong views on aligning investments with personal values and utilize ESG criteria when making investment decisions.

For monitoring, goal for investment funds is to produce consistent, competitive results vs. benchmark/peer group/risk characteristics. Investment Committee uses three-/five-year annualized, time-weighted total rates of return, net of fees, as primary performance measurement. Managers’ investment philosophy/process/staff are also evaluated regularly. ESG considerations are included in evaluation of investment options. We expect investment managers to integrate ESG factors  into investment analysis/decision-making where appropriate. 

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]

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.

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].

Bloomberg Global Retirement Plans’ commitment to the PRI and the broad strokes of its ESG integration efforts thus far are detailed in the firm’s 2018 sustainability report (link below).


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.

There are policies on conflicts of interest as it relates to proxy voting and conflicts between the Plan's terms and conditions and the investment policy statement.

It is expected that from time to time a Fund will solicit proxies relating to matters directly involving the Fund or other issues that are not directly related to the underlying securities held in a Fund's investment portfolio (a "Fund Proxy"). With respect to Fund Proxies received by the Investment Committee, the Investment Committee directs the Global Benefits group to take actions. If at any time Global Benefits becomes aware of a conflict of interest relating to a particular Fund Proxy proposal; it must promptly report the conflict to the Investment Committee. After due consideration of the conflict, including consultation with the Investment Committee and/or seeking advice from an investment advisor, counsel, or an impartial proxy advisory service, Global Benefits shall vote the Fund Proxy in a manner that best represents the interests of the Plan participants and beneficiaries or, depending on the circumstances, refrain from voting.

If any term or condition of the investment policy conflicts with any term or condition in the Plan, the terms and conditions of the Plan shall control.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within investee entities.

04.2. Describe your process on managing incidents

Formulation of a policy is underway, but no formal policy in place yet.