mast image

Special Report

Impact investing

Sections

New PRI signatory Raiffeisen 'remains committed' despite defections

Related images

  • Vienna, Austria

Related Categories

Austrian asset manager Raiffeisen Capital Management (RCM), one of the most recent signatories to the UN’s Principles for Responsible Investment (UN PRI), still “believes” in the concept of the project despite the recent defections of ATP and five other Danish pension funds.

RCM, a subsidiary of Austrian banking giant Raiffeisen, recently began implementing a sustainable investment strategy, for which it poached socially responsible investing (SRI) expert Wolfgang Pinner from competitor Erste Group, making him CIO of SRI from November.

He previously worked at Erste’s sustainable investment subsidiary Vinis, which had joined the PRI in 2009.

Pinner told IPE he was convinced the principles underpinning the PRI “make a lot of sense”, and that “it helps when a whole company commits to them”.

<

But he also acknowledged that the principles had seen “major restructuring” in recent years, after changes were made to the PRI’s methods of assessing whether a company has complied with its criteria or not.

“These changes were not ideal, perhaps” Pinner said. “Everything has to get back on track.”

However, he stressed that RCM “remains committed” to the principles and pointed out that “there are not that many opportunities for a company to show this commitment”.

In a statement on the signing, RCM chairman Mathias Bauer explained why his company had chosen to step up its ESG efforts.

“We see increasing interest from clients – especially severance pay funds (Vorsorgekassen) and Pensionskassen – in such products,” he said.

Pinner confirmed that, in many tenders, investors were looking specifically for managers that had signed the UN PRI, adding that, among his clients, the PRI had not suffered a loss of reputation.

Bauer added that RCM’s move was part of a ‘corporate social responsibility’ focus within the overall group that had “grown in importance” in recent years.

As a next step, RCM will be looking to launch funds – for individuals as well as institutions – investing according to ESG criteria.

Pinner said his sustainability team was also aiming to incorporate the concept of sustainable investment “a bit more within all of RCM”.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<