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Christian Brothers Investment Services, Inc.

PRI reporting framework 2020

You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

ESG Objectives

          Our funds screen on 10 criteria, including five life ethics issues, pornography producers, three weapons screens, and tobacco.
        
          Screening criteria, reporting on the screening process, and reporting the impacts to financial performance from screens.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays Aggregate Bond Index
        

ESG Objectives

          Where able to do so, apply our screens to SSA universe.
        
          Screening criteria, reporting on the screening process, and reporting the impacts to financial performance from screens.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays Aggregate Bond Index
        

ESG Objectives

          Our funds screen on 10 criteria, including five life ethics issues, pornography producers, three weapons screens, and tobacco.
        
          Screening criteria, reporting on the screening process, and reporting the impacts to financial performance from screens.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays Aggregate Bond Index
        

ESG Objectives

          Our funds screen on 10 criteria, including five life ethics issues, pornography producers, three weapons screens, and tobacco.
        
          Screening criteria, reporting on the screening process, and reporting the impacts to financial performance from screens.
        

Incentives and controls

Reporting requirements

Benchmark

          Bloomberg Barclays Aggregate Bond Index
        

ESG Objectives

          Our funds screen on 10 criteria, including five life ethics issues, pornography producers, three weapons screens, and tobacco.
        
          Screening criteria, reporting on the screening process, and reporting the impacts to financial performance from screens.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          Regarding SSA securities, these investments are rolled up into CBIS-offered funds with other types of fixed income securities, and don't have the screening data available to deploy most Life Ethics-based screens. Therefore, screening activity in this area is limited. CBIS continues to re-assess how it applies Catholic screens to this category of securities and will have more to report once our securities rating program launches. We still assess all managers on screening criteria, process, methodology, and reporting, because they are typically mixing types of fixed income securities into the Fixed Income fund strategy. We have controls for managers on screening, but not incentives. Screens cannot be used as a long-term crutch regarding the financial performance of a fund and managers will not be retained if they do not perform well on both CRI criteria/screening and financial performance benchmarks. Quarterly reporting is required of all managers on screening adherence, but screening is done daily.
        

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