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National Employment Savings Trust (NEST)

PRI reporting framework 2020

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

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

          ESG Emerging market custom benchmark
        

ESG Objectives

          No controversial weapons, tobacco for new mandates
        
          For non passive mandates - we need to see evidence of ESG being embedded in the investment process
        
          Engage with companies on climate change, executive pay and other long term financially material issues
        
          Ability to receive a number of voting intentions before AGMs and in some cases the mechanism to override votes in the pooled fund. support shareholder resolutions on climate change where reasonable
        
          We seek to understand the manager's securities lending policy in relation to RI and voting
        

Incentives and controls

Reporting requirements

Benchmark

          Iboxx sterling non gilts
        

ESG Objectives

          No controversial weapons and request that the manager manages down its tobacco exposure
        
          Expect the fund manager to assess ESG issues in investment process.
        
          Engagement with issuers expected
        

Incentives and controls

Reporting requirements

Benchmark

          EPRA
        

ESG Objectives

          Incorporation of E&S risks and opportunities in the acquisition and management of properties
        
          Engagement with communities and tenants
        
          We request and receive a sustainability updates detailing energy efficiency savings and how the portfolio is continuing to be future proofed
        
          Expect them to comply with environmental regulation and stay ahead of it. disclose data to GRESB
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          
        

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