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StatewideSuper

PRI reporting framework 2020

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Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework (Not Applicable)


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Fixed income - SSA

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the fixed income sector we have an asset consultant who considers the managers' ESG credentials as part of the appointment and monitoring process and 100% of FUM in this sector is managed by PRI signatories. 

Fixed income - Corporate (financial)

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the fixed income sector we have an asset consultant who considers the managers' ESG credentials as part of the appointment and monitoring process and 100% of FUM in this sector is managed by PRI signatories. 

Fixed income - Corporate (non-financial)

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the fixed income sector we have an asset consultant who considers the managers' ESG credentials as part of the appointment and monitoring process and 100% of FUM in this sector is managed by PRI signatories. 

Fixed income - Securitised

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the fixed income sector we have an asset consultant who considers the managers' ESG credentials as part of the appointment and monitoring process and 100% of FUM in this sector is managed by PRI signatories. 

Private equity

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the private equity sector we have an asset consultant who considers the managers' ESG credentials as part of the appointment and monitoring process and 50% of FUM in this sector is managed by PRI signatories. 

Cash

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the cash sector we have an asset consultant who considers the managers ESG credentials as part of the appointment and monitoring process and 100% of FUM in this sector is managed by PRI signatories. 

Other (1) [as defined in Organisational Overview module]

Statewide seeks to implement responsible investment practices across its portfolio through its policy framework. In the alternative debt sector we have an asset consultant who considers the managers ESG credentials as part of the appointment and monitoring process and more than 60% of FUM in this sector is managed by PRI signatories. 

Other (2) [as defined in Organisational Overview module]

To give members an option with a specific ESG focus, Statewide has a Sustainable Diversified investment option that is wholly invested in the AMP Capital Ethical Leaders (EL) Balanced Fund (which is certified as a responsible investment by RIAA). According to the EL Charter, AMP Capital seeks out managers who take ESG, Ethical and Labour Standard considerations into account and avoids companies operating within sectors with recognised high negative social impact, for example companies with more than 10% of revenues derived from nuclear power, armaments, gambling, alcohol, live animal export and pornography. AMP Capital also have a limit on investing in fossil fuels by excluding any company that has more than a 10% exposure to thermal coal, oil sands, brown coal or conversion of coal to liquid fuels. AMP Capital selects managers that at a minimum meet these negative screening criteria and also proactively apply sustainable and responsible investment criteria.

The AMP Capital EL Balanced Fund is also Tobacco Free. 

17.2. Additional information.


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