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MAIF

PRI reporting framework 2020

You are in Strategy and Governance » ESG issues in asset allocation

ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

13.1. Indicate whether the organisation carries out scenario analysis and/or modelling, and if it does, provide a description of the scenario analysis (by asset class, sector, strategic asset allocation, etc.).

Describe In 2019, we asked an investment consultancy to apply its climate-risks assessment tools to our listed assets portfolio. The aim was to first measure the level of climate-related risks within our portfolio. In addition, we identified climate opportunities through our green investments assessment.

13.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

We do the following

13.3. Additional information. [OPTIONAL]

We exclude direct investments in some sectors such as tobacco, aerospace and defence and coal.


SG 13 CC.


SG 14. Long term investment risks and opportunity

14.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following are considered.

14.2. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

Specify the AUM invested in low carbon and climate resilient portfolios, funds, strategies or asset classes.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

Specify the framework or taxonomy used.

We increased or green investment objective from 2% to 4% of AUM in 2019. This "green part" is defined as being the amount invested in activities listed as "green" in the french GreenFin label. Our green part gathers our direct investments such as investments in green bonds and our indirect investments in externally managed funds for all asset classes (including buildings with environmental certification, green infrastructures, listed and non-listed equities, bonds...). For externally managed funds we have a look through approach. For this purpose, every year we send an annual "climate survey" to our asset managers to collect data on the global climate strategy, green part, brown part and carbon footprint for each fund that we are invested in. This survey having been sent in February 2020, we do not know yet the amount of our aggregated green investments for 2019. Therefore, the amounts we disclose for this question are as of 31/12/2018, as the data are not available yet for the end of 2019.

 

14.3. Indicate which of the following tools the organisation uses to manage climate-related risks and opportunities.

14.4. If you selected disclosure on emissions risks, list any specific climate related disclosure tools or frameworks that you used.

We rely on our carbon data provider S&P Trucost, and communicate on the estimated GHG emissions per M€ invested.

14.5. Additional information [Optional]


SG 14 CC.


SG 15. Allocation of assets to environmental and social themed areas

15.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

15.2. Indicate the percentage of your total AUM invested in environmental and social themed areas.

11.5 %

15.3. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

Asset class invested

0.05 Percentage of AUM (+/-5%) per asset class invested in the area
0.15 Percentage of AUM (+/-5%) per asset class invested in the area
0.35 Percentage of AUM (+/-5%) per asset class invested in the area
0.01 Percentage of AUM (+/-5%) per asset class invested in the area
0.02 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

We measure and track our green part, and here is our green part's breakdown as of 31/12/2018 (for 2019, data are currently being collected from asset managers)

In Million € :

Fixed income (internally managed) : 186
Fixed-income & loans (externally managed) : 124
Listed Equities (externally managed) : 21
Private Equity (externally managed) : 6
Property (externally managed) : 549
Infrastructures (externally managed) : 22
Convertibles bonds (externally managed): 3

TOTAL : € 912 M dedicated to green thematics (as defined in the french GreenFinlabel).

Regarding the externally managed assets in fixed-income, listed equities, private equity and convertible bonds, we are not able to strictly identifiy the breakdown between Energy efficiency/clean technology and Renewable energy. Therefore, we have equally split the allocation to answer this question.

Asset class invested

0.05 Percentage of AUM (+/-5%) per asset class invested in the area
0.15 Percentage of AUM (+/-5%) per asset class invested in the area
0.35 Percentage of AUM (+/-5%) per asset class invested in the area
0.01 Percentage of AUM (+/-5%) per asset class invested in the area
0.4 Percentage of AUM (+/-5%) per asset class invested in the area
0.02 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

Regarding the externally managed assets in fixed-income, listed equities, private equity and convertible bonds, we are not able to strictly identifiy the breakdown between Energy efficiency/clean technology and Renewable enrgy. Therefore, we have equally split the allocation to answer this question.

Asset class invested

3.3 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

The MAIF Group is invested in green buildings for more than € 549 M. The MAIF Group also applies some specific environnemental and social criteria to some classical property investments (building construction and renovation).

Asset class invested

0.6 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

The MAIF Group has € 110 M invested in a mutual funds dedicated to microfinance institutions in 2019.

Asset class invested

2.6 Percentage of AUM (+/-5%) per asset class invested in the area
0.8 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

The MAIF Group owns approximately € 149 M investments in private equity and has invested € 478 M directly or through mutual funds dedicated to debt investments in small and medium enterprises.

Asset class invested

0.2 Percentage of AUM (+/-5%) per asset class invested in the area
0.1 Percentage of AUM (+/-5%) per asset class invested in the area
0.03 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

In 2018, the MAIF Group had invested approximately € 64 M in social impact funds and social impact funds.

Asset class invested

0.07 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

In 2018, the MAIF Group is invested for  € 14 M in a fund dedicated to affordable housing.

Asset class invested

0.2 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

In 2018, the MAIF Group has € 34 M invested in two funds dedicated to student housing.

Asset class invested

1.4 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

The MAIF Group supports the demographic segment represented by retired people from the "baby boomers" generation, who want to stay in shape as long as possible and refuse to be a "burden" for their relatives. The MAIF Group also invests in another segment of older people which is characterized by an increase of their life expectancy and a heavy reliance on consumption of drugs and medical equipment.

Regarding property investments, the MAIF Group invested in real estate funds for a total amount of € 260 million in senior residences, nursing home, care facilities and rehabilitation and psychiatric clinics.

          Care for elderly people, job creation, happiness at work
        

Asset class invested

0.7 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

MAIF has 138 € M invested in funds focusing on developing services for elderly people, investing in companies that create jobs in France or investing in companies that manage happiness at work.

15.4. Please attach any supporting information you wish to include. [OPTIONAL]



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