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Loreto Mutua, M.P.S.

PRI reporting framework 2020

Export Public Responses

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

The investment principles are based on diversification, a balanced and prudent approach and consistency with the retirement needs and horizons of our members.
The investment strategy is based in:
- A long term view, consistent with the pay off of pensions
- The consideration of the macro and market conditions
- The economic, financial and political risks
- The good governance of the companies and public issuers we invest in
- The social and environmental risks and opportunities

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

We expect the companies in which we invest to behave in line with the Principles of the UN Global Compact.
Loreto does not invest in companies involved in the manufacture of landmines, cluster bombs and other controversial weapons. In addition the Mutuality does not invest in the arm producers that sell them to sanctioned countries or the nuclear weaponery sold in contravention to the Treaty on the Non-Proliferation of Nuclear weapons. We regularly monitor the portfolio excluding firms in breach of these principles or activities.
We have begun last year to get involved in engagement issues about the governance of specific companies.

01.6. Additional information [Optional].


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.


02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.


02.3. Additional information [Optional].

The SRI and investment policy is available for members and pensioners of the pension scheme in our offices and we explain it in our local meetings with the members. We visit every year most of the Spanish airports explaining our policies and performance.

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

By the Regulation, the Directors of the Board have to behave exclusively in the best interest of their members. 

The Mutuality is setting up a complete system of good governance under the regulation of the Solvency II rules.

Our asset management branch applies the conduct code of the Spanish asset managemers association. This conduct code covers the issue of the conficts of interest.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios (Private)