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Lyxor Asset Management

PRI reporting framework 2020

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You are in Strategy and Governance » Outsourcing to fiduciary managers and investment consultants

Outsourcing to fiduciary managers and investment consultants

SG 12. Role of investment consultants/fiduciary managers

New selection options have been added to this indicator. Please review your prefilled responses carefully.

12.1. Indicate whether your organisation uses investment consultants.

12.2. Indicate how your organisation uses investment consultants in the selection, appointment and/or monitoring of external managers.

12.4. Indicate whether you use investment consultants for any the following services. Describe the responsible investment components of these services.

Describe how responsible investment is incorporated

          The Investment Manager and the Company  appoint an Investment Adviser 
The Securities, Investment Funds and other assets in which the Fund invests is selected and recommended from time to time by the Investment Adviser and approved by the Investment Manager.
The Investment Manager reserves the right not to invest into any of the Securities, Investment Funds and other assets recommended by the Investment Adviser, subject to having previously informed the Investment Adviser. In other words, the recommendation of the
Investment Adviser (if any) shall not be binding on the Investment Manager.

12.5. Indicate whether your organisation considers any of the following responsible investment factors in the monitoring of fiduciary managers

12.6. Describe the approach you take to monitoring your fiduciary managers and the reason(s) for this approach [Optional].

Lyxor has developed a capacity to evaluate extra-financial valuation of external management companies, including a review of the following points :

- Their ESG analysis capacity
- The investment process / ESG integration in their management
- Their voting and engagement policies

This allows us to establish a rating of the external management companies:
 - A basic scoring is first established from the UN PRI scores.
 - On the basis of LYXOR's questionnaires, we can adjust this score downwards if we consider that it is not sufficiently representative of real capacities.

This approach provides a general overview of the level of ESG integration and compares external management companies

In the context of the relationship between Lyxor and its trading advisors (of the managed accounts) to which we have delegated the management of the fund, we have regular discussions with asset managers to try to convince them to comply with this exclusion list.

Regarding the respect of exclusion lists: Independent controls are performed within LYXOR Risk Team on NAV frequency basis.

12.7. Additional information [Optional].