Mercy's appointment processes of external managers require the due diligence team to conduct introductory and multiple following meetings, both on the phone and in person. After many meetings and team discussion, the due diligence team will draft and perfect an investment memo to present to the Chief Investment Officer asking for approval of adding the investment into Mercy's portfolio. As a standard part of this memo, SRI compliance and detail on the manager’s ESG practices is noted in every memo. Asides from the internal due diligence Mercy conducts, Mercy also utilizes our consultants in assisting with the operational due diligence to ensure all the accounting, operation, and team management are in line with best practices. When possible, Mercy evaluates ESG ratings provided by the consultant (such as Mercer). Mercy also has an external legal team to evaluate and examine the legal side of the investment terms and contract. Together the Mercy team is able to get a well-rounded review of the investment manager, and the Chief Investment Officer will finally make the ultimate decisions based on the information provided.