The role that asset owners play is fundamental to the responsible investment agenda. The influence they exert over the investment chain means they are at the core of what we do.
We were delighted to welcome 43 new asset owner signatories last year, taking our total to 346. Our overall signatory base has expanded since the previous year, with 289 new signatories, a net growth of 14%, our largest in five years.
against a KPI target of 35
We took a systematic approach to signatory recruitment by identifying and engaging with non-signatory asset owners.
In Japan, we built on our previous success of recruiting Japan’s Government Pension Investment Fund (GPIF) by welcoming the Development Bank of Japan, Daido Life Insurance Company, Pension Fund Association and Nippon Life Insurance Company.
In many cases, recruitment across the globe was the result of a multi-year, coordinated effort from within the PRI.
Asset owner breakdown by type
|Asset category (all AO signatories)||Count||Percentage|
|Development finance institution||10||2.89%|
|Non corp. pension/super/retire/provident||126||36.42%|
|Reserve - sovereign or government controlled fund||19||5.49%|
We carried out more than 200 development sessions around the globe where we engaged with signatories, setting out steps they could take to better implement the Principles. We also held introductory calls with 75% of new signatories.
In addition, we launched a number of resources aimed at asset owners:
Investment policy: process and practice, a guide for asset owners, provides concrete, step-by-step guidance on how asset owners should be integrating ESG factors into their investment decisions. It offers a precise and implementable framework for integrating all material ESG considerations into investment policy.
A practical guide to ESG integration for equity investing guides asset owners who are implementing ESG integration techniques in their investment decisions on assessing external managers’ integration practices throughout their existing selection, appointment and monitory process. It includes guidance on how to gain a good understanding of the manger’s investment approach and performance, risk management, stock selection and portfolio construction.
We released a working draft of our guide on investment strategy for investor comment. The upcoming final guide will support asset owners, including their board of trustees and executives, in developing and formulating their investment strategy, including how to incorporate responsible investment considerations.
We introduced the Data Portal, an online tool that empowers asset owners to engage with their managers.
*This section has been amended to remove references to ChinaAMC, which is an investment manager not an asset owner, and to there being 13 new signatories in Asia excluding Japan, as this was the total number of new signatories for the region, not the number of new asset owners.