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BT Pension Scheme

PRI reporting framework 2020

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OO 01. Signatory category and services

01.1. 組織または組織が提供するサービスに最もよく当てはまる種類を選択してください。

01.3. 補足情報 [任意]

Background information to the BT Pension Scheme (BTPS):

The BTPS is the largest private sector pension scheme in the UK with close to 290,000 members and approximately £54bn of assets.  It is a defined benefit scheme managed by an independent Trustee on behalf it its members. The Scheme was closed to new members in 2001 and closed to future accrual on 30 June 2018. BT Pension Scheme Management Ltd (BTPSM), a team of approximately 70 staff, acts as the executive arm of the Trustee and is the Scheme’s principal investment advisor. The Scheme’s assets are managed by external investment management companies across a diversified range of asset classes including equities, corporate and government bonds, property and alternatives.

The Scheme has a long history of being a responsible investor and engaged owner.  It was a founding signatory of the Principles for Responsible Investment (PRI) in 2006 and is a Tier 1 signatory to the UK Stewardship Code.  This commitment is articulated in the Scheme’s Responsible Investment Policy (publicly available at by the mission statement which explains that “as a responsible investor we will manage the Scheme’s assets by seeking the optimal long-term risk-adjusted return while limiting outcomes which may harm our beneficiaries’ shared interests.”  To do this effectively, the Trustee has integrated financially material environmental, social and governance (ESG) considerations throughout the investment process and promotes active stewardship of the portfolio companies and assets owned by the Scheme.

The Trustee oversees the Scheme’s responsible investment strategy, which also includes the consideration of emerging, long-term structural risks, including climate change and technological disruption. The implementation of the responsible investment strategy is undertaken by BTPSM, with activity focused on the following core areas: i) Understanding the risks and opportunities that may face the Scheme because of its long-term investment horizon; ii) Integrating financially material ESG factors throughout the investment process, including in the design of investment mandates, new manager searches and ongoing monitoring of managers; and iii) Ensuring the Scheme is delivering long-term value through responsible ownership.  The majority of the Scheme’s stewardship activities are undertaken by Hermes EOS, a leading provider of engagement resources.

OO 02. Headquarters and operational countries

02.1. 組織の拠点がある場所を選択してください。

United Kingdom

02.2. オフィスが所在している国数を記載してください(本部を含む)。

02.3. 組織が正規雇用しているスタッフのおおよその人数を記載してください。

70 正規職員

02.4. 補足情報 [任意]

OO 03. Subsidiaries that are separate PRI signatories

03.1. 組織内に単独でPRI署名機関となっている子会社があるかどうかを記載してください。

03.3. 補足情報 [任意]

OO 04. Reporting year and AUM

04.1. 報告年度の最終日を記載してください。


04.2. 報告年度末のAUM合計を記載してください。

子会社のAUM(顧問業務/執行のみの資産を除きます)を含みますが、(OO 03.2で「いいえ」と回答した)報告しないことを選択したPRIの署名機関である子会社のAUMを除きます。
Total AUM
10億 100万
Assets in USD
10億 100万

04.5. 補足情報 [任意]

OO 06. How would you like to disclose your asset class mix

06.1. どのように資産クラス構成を開示したいかについて記載してください。



上場株式 0 0 10-50% 19
債券 10-50% 29 10-50% 25
プライベートエクイティ 0 0 <10% 3
不動産 0 0 <10% 8
インフラ 0 0 <10% 3
コモディティ 0 0 0 0
ヘッジファンド 0 0 <10% 2
ファンドオブヘッジファンズ 0 0 0 0
森林 0 0 0 0
農地 0 0 0 0
包括的な金融 0 0 0 0
現金 0 0 0 0
短期金融市場商品 0 0 <10% 4
その他(1)(以下に具体的に記入してください) 0 0 <10% 7
その他(2)(以下に具体的に記入してください) 0 0 0 0



06.2. 添付の画像に従って組織の資産クラス構成を公表する

06.3. 組織にオフバランスシート資産はありますか?

06.5. 組織がフィデューシャリー・マネージャーを使うかどうかを記載してください。

06.6. AUM資産クラス分割について説明する情報を記載してください。 [任意]

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. 組織のAUMの内訳を市場別に示してください。

93 先進国市場
6 新興国市場
1 フロンティア
0 その他の市場
合計100% 100%

09.2. 補足情報 [任意]