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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
Active manager investment in Adani Ports
As part of Monash’s monitoring process through the Investment Advisory Committee and external advisors, it holds an annual meeting with each fund manager. It was identified that an emerging markets active manager had a holding in Adani Ports. Monash raised concerns about the ESG credentials of the broader Adani group and expressed its preference to not hold investments in Adani or its associated entities as Monash does not think that Adani aligns with its values.
The active manager advised that they are likely to be exiting from that investment.
Community Infrastructure Fund investment ESG profile
As part of its manager selection process, Monash reviewed the underlying assets within the Fund to confirm that it was comfortable with their ESG profiles.
Manager was appointed, and funds invested in November 2019. Notably this manager has invested in a wind farm as part of the portfolio.
The Investment Advisory Committee continue to probe and discuss ESG matters and processes at each annual manager presentation, including questioning active equity managers on specific industries and companies in their portfolio.