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Meketa Investment Group, Inc.

Service Providers Framework 2018

You are in Strategy and Governance » Responsible investment policy

Responsible investment policy

SG 01. Responsible investment policy

01.1. Describe how your organisation’s philosophy incorporates environmental, social and governance factors, and the link to your business offerings.

Meketa Investment Group is proud to continue building a culture of sustainability in a variety of ways: Policy: All Meketa Investment Group employees are provided with eight paid volunteer hours each year. Hours: In 2017, Meketa Investment Group's employees dedicated over 500 hours to volunteer causes. Diversity: 46% of our leadership team is comprised of women and minorities.

We encourage clients to switch to electronic presentations in order to cut down on the use of paper. To offset the negative environmental effects of printing, we recycled approximately 100,000 pounds of paper in 2017.

Over the past four years, in an effort to expand our knowledge of emerging and diverse managers, we have conducted over 300 meetings with such managers. In 2017, we also hosted our first emerging manager conferences in an effort to broaden our exposure to small and diverse firms.
 

 

01.2. Indicate whether you have internal policies that formalise the incorporation of your beliefs in your business offerings.

01.3. Indicate the components/types of your internal policy

Policy components/types

01.4. Indicate how these are put into practice internally across the organisation.

01.5. Additional information [OPTIONAL]


SG 02. Publically available policies

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

Policy or document name

02.2. Additional information. [OPTIONAL]


SG 03. Norms used to develop policies

03.1. Indicate what standards you have used to develop your organisation’s policies. Tick all that apply.

03.2. Additional information. [OPTIONAL]


SG 04. Policy offerings to clients

04.1. Indicate whether you offer standard, off the shelf, policies to clients as part of your product offerings, and/or whether you create tailored versions for individual clients.

Off the shelf Tailored
Asset class-specific RI guidelines
Sector-specific RI guidelines
Screening/exclusions policy
Engagement policy
(Proxy) voting policy
RI guidelines set out within the Investment Policy Statement (IPS)
RI guidelines set out in a freestanding RI policy
Multi-year RI implementation project plan
Conflict of interest management policy
Stockbroker allocation policy
Securities lending policy
Other, please specify (1)
Other, please specify (2)
Other, please specify (3)
None of the above

04.2. Briefly describe how you incorporate ESG factors and RI-consideration when advising clients on policies.

Meketa Investment Group has been providing guidance exclusively based on client request.

04.3. Additional information. [OPTIONAL]


SG 05. ESG/RI in business offerings

05.1. Briefly describe how you include ESG/RI factors as part of your business offerings.

Business area

Advisory and Consultancy

How you include ESG/RI factors

Meketa Investment Group’s Research group policy has been to integrate ESG considerations into our evaluation of managers. We include the following ESG questions in the RFI questionnaire to Investment Managers:

Are you a UNPRI (United Nations Principles for Responsible Investing) signatory?

Do you incorporate ESG (environmental, social, and governance) principles into your research process or the management of portfolios? If so, why do you incorporate them? How are they incorporated and to what degree?

Is evaluation of a company’s ESG factors a standard part of your research process?

Do you engage management and try to influence a company’s ESG factors? If so, to what extent?

How do you determine the ESG factors you adhere to?

Do you subscribe to any external services that provide information on ESG factors?

What percentage of your firm assets incorporates ESG principles?

How do you ensure compliance with ESG policies in client portfolios?

05.2. Indicate the roles in your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for ESG/RI.

Roles present in your organisation Oversight/accountability for RI Implementation of RI
Board
Directors
Chief Executive Officer (CEO), Chief Financial Officer (CFO)
Other chief-level staff

Please specify

          
        

Please specify

          
        
Other heads of department

Please specify

          
        

Please specify

          
        
Dedicated ESG/RI staff
Other role, specify (1)

Please specify

          
        

Please specify

          
        
Other role, specify (2)

Please specify

          
        

Please specify

          
        
Other role, specify (3)

Please specify

          
        

Please specify

          
        
Other role, specify (4)

Please specify

          
        

Please specify

          
        
None of the above

05.3. Indicate how you ensure ESG/RI expertise for the roles where there are RI oversight/accountability or implementation responsibilities.

05.4. Indicate whether your organisation has any ESG/RI linked incentives for its employees.

05.6. Additional information [OPTIONAL]


SG 06. Outsourcing of services (Private)


SG 07. Providing training/education

07.1. Indicate whether you provide training/educational services on ESG/RI. Tick all that apply.

07.2. Describe the main components of your training/educational services on ESG/RI and any variations depending on the group you provide training/education to.

A significant component of our work as consultants is to provide ongoing education to our clients.  We welcome the opportunity to work with clients one‑on‑one or in a group forum at a location convenient to them.  We consider client education an important part of our job as consultants.  All of our education is done on a client‑by‑client basis.  In this way, each client receives our full attention, and all investment seminars are organized specifically for each client. 

We believe that an informed client is much more likely to make prudent investment decisions and is less likely to shift strategies during a period of temporary market weakness.  Consequently, we constantly strive to educate clients on various investment topics.

07.3. Describe whether these training/educational services include any commercial elements.

          None
        

07.4. Additional information. [OPTIONAL]


SG 08. Applying, advancing and promoting the PRI principles

08.1. Describe how your organisation applies, advances and promotes the PRI Principles.

Principle 1: We Asses the capabilities of external investment managers to incorporate ESG into investment their investment process

Principle 2: Participate in collaborative engagement initiatives.

Principle 3: Working on the implementation of asking for standardized reporting on ESG issues.

Principle 4: Working on incorporating principle related requirements in the RFP process.

Principle 5: Support appropriate collaborative initiatives

Principle 6: Participating in this reporting initiative.

 

08.2. Highlight whether there are any ways that your organisation would like to engage further with the PRI. [OPTIONAL]


SG 09. Actions taken to promote responsible investment

9.1. Indicate which of the following actions your organisation has taken to promote responsible investments during the reporting year, independently of collaborative initiatives.

          We have promoted UNPRI on marketing materials
        

9.2. Additional information. [OPTIONAL]


SG 10. Long term trends

10.1. Indicate which of the following long-term trends are addressed in your product outputs.

10.3. If none of the above are applicable, please explain why not.

Exploring ways to incorporate trends

10.4. Additional information. [OPTIONAL]


SG 11. Interaction with asset owners

11.1. Indicate whether you interact with asset owner clients.

11.2. Indicate the typical frequency and type of interactions with your asset owner clients.

Type of interaction

Frequency

Frequency

Frequency

11.3. Additional information. [OPTIONAL]


SG 12. Aligning approach with investor goals

12.1. Describe how you align your organisation’s philosophy on and approach to ESG/RI with investor goals.

12.2. Additional information. [OPTIONAL]


SG 13. ESG recommendations not aligned with investor goals

13.1. Describe what steps you take, if any, when your ESG recommendations are not in line with investor goals.

13.2. Additional information. [OPTIONAL]


SG 14. Seeking feedback from clients

14.1. Indicate whether you seek feedback from clients on your RI/ESG services and product offerings

14.3. If not, please explain why.

We do not offer a specific ESG product to our clients

14.4. Additional information. [OPTIONAL]


SG 15. Managing conflicts of interest

15.1. Indicate whether your organisation has a policy for managing potential conflicts of interest.

15.2. Describe how you manage potential conflicts of interest.

We do not have any affiliations with brokerage firms, nor do we have any broker-dealer relationships. We do not receive soft dollars or any brokerage commissions. Our primary line of business is providing investment consulting and advisory services. We work only for our clients, and are paid directly by our clients. As a result, we have no conflicts of interest and can provide clients with objective investment information and advice.

In 1988, Meketa Investment Group adopted the Code of Ethics and Standards of Professional Conduct published by the CFA Institute. Our Code of Ethics covers every component of our business, including, but not limited to: fair dealing; priority of transactions; prohibitions against the use of material, non-public information; fiduciary responsibilities; required standards of conduct; and compliance with Federal securities laws.

15.3. Describe how you ensure that company employees do not derive any personal gain from the use of information collected during your work process.

Alan Spatrick, CFA, is the Chief Compliance Officer for Meketa Investment Group. Mr. Spatrick’s responsibilities include firm-wide compliance policy implementation and monitoring. This also includes projects related to SEC and DOL requirements, providing compliance training for staff, ensuring compliance requirements are being followed firm-wide, testing compliance procedures, and developing disclosure statements.

As an independently owned company, we do not have any financial relationships with brokers, banks, or actuaries. We do not receive soft dollars or any brokerage commissions. As a result, we have no conflicts of interest.

Further, we have adopted a personal security transactions policy that mandates:

All personal trades must be reported to the Compliance Department at the end of each calendar quarter.

Meketa Investment Group prohibits ownership or trades of any company whose revenues are mostly derived from investment management.

Meketa Investment Group prohibits trades involving any of our clients.

Meketa Investment Group prohibits trades based on the knowledge that a client portfolio is in the process of acquiring or liquidating a security.

15.4. Additional information. [OPTIONAL]


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