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Pensioenfonds PNO Media

PRI reporting framework 2020

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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 

          Exclusion list
        
          How ESG criteria are incorporated in the stock selection process.
        
          By requiring that all external managers comply with PNO Media's Repsonsible Investment Policy in managing the portfolio, we indirectly ask them to invest according to the IMVB covenant.

Incentives and controls

Reporting requirements

Benchmark 

          Merrill Lynch EMU corporate bond index

ESG Objectives 

          Exclusion list and from April 1, 2020 a minimum percentage of the total portfolio in green bonds, that will eventually reach 10% of the portfolio
        
          How ESG criteria are incorporated in the bond selection process.
        
          By requiring that all external managers comply with PNO Media's Repsonsible Investment Policy in managing the portfolio, we indirectly ask them to invest according to the IMVB covenant.

Incentives and controls

Reporting requirements

Benchmark 

          Barclays Capital customised maturity swap index

ESG Objectives 

          Mainly on governance issues
        
          By requiring that all external managers comply with PNO Media's Repsonsible Investment Policy in managing the portfolio, we indirectly ask them to invest according to the IMVB covenant.

Incentives and controls

Reporting requirements

Benchmark 

          85% IPD + 15% NCREIF
        
          GRESB

ESG Objectives 

          Outperformance on GRESB benchmark and reduction carbon emissions
        
          Outperformance and improvement versus GRESB benchmark. By requiring that all external managers comply with PNO Media's Repsonsible Investment Policy in managing the portfolio, we indirectly ask them to invest according to the IMVB covenant.

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]
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