SNS Asset Management (SNS AM) is the institutional asset management company of SNS REAAL with € 44 billion assets under management (as per 30 June 2010).  We manage portfolios for pension funds, social organizations, labour unions and other institutional investors. SNS AM has taken ethical criteria into account in its clients' investments since the 1970s. During the 1990s, we also included environmental and corporate governance criteria, arriving at a comprehensive ESG (Environmental, Social and Governance) approach that has constantly evolved ever since. As a result, SNS AM has the honour to conduct the ESG research and provide advice on voting and engagement matters for an increasing number of internal and external clients. SNS AM was one of the first commercial asset managers worldwide to successfully invest in microfinance products on behalf of their clients.

The ESG research team of economists, social scientists and environmental experts assesses and evaluates companies, institutions and countries using ESG criteria as laid down in our Fundamental Investment Principles or the idiosyncratic investment policies of our clients. The ESG analysts make use of professional data from prominent ESG rating agencies (such as MSCI and Vigéo), non-governmental organisations, academic institutions, sustainability initiatives and various media sources. Close attention is paid to controversies and coherence of policies, measures, results, monitoring and reporting.

The SNS AM Fundamental Investment Principles cover the following issues:

• human rights violations, child labour, forced labour;
• corruption;
• environmental pollution;
• production and development of controversial weapon systems, provision of services for the development, use and maintenance of these weapon systems, or controversial weapon systems’ trade, and;
• generally accepted ethical fundamentals that apply to a humanitarian society.

These principles apply to all assets and over all asset classes that are managed by SNS AM itself (95 percent). For the remaining part of its assets that is managed externally, SNS AM has developed a dedicated strategy for rendering third party solutions responsible, in close cooperation with its external managers. When selecting a manager, SNS AM will investigate that party's responsible investment credentials.

For the Duurzaam Aandelenfonds (Ethical Equity Fund), SNS AM applies a so-called best-in-class approach on top of the Fundamental Investment Principles. For these funds, ESG analysts determine, at sector level, the top 40 percent best performing companies per sector. Besides a large cap responsible investment strategy, SNS AM also has a specialized ESG strategy for small- and micap funds, which is applied for the Kempen Sense Fund (managed by Kempen Capital Management). Also, SNS AM has developed a dedicated responsible investment strategy for fixed income portfolios. This method translates the Fundamental Investment Principles in such a way that they can be applied to the ESG examination of loans for governments, public authorities, and government-related companies.

SNS AM participates in following initiatives related to responsible investment or corporate social responsibility:

• UN Global Compact
• UN Principles for Responsible Investment (UN PRI)
• Carbon Disclosure Project
• CDP Water Disclosure
• Global Reporting Initiative
• European Sustainable Investment Forum

Furthermore, SNS AM was founding sponsor of the Access to Medicine Index, an international not for profit organization dedicated to improving access to medicines to societies in need.

SNS AM’s efforts in responsible investment have been explicitly recognized in the 2010 report of the UN PRI, where our responsible investment strategy was scored above average on all six principles.

Contact details

Pettelaarpark 120
P.O. Box 70053
5201 DZ Hertogenbosch
The Netherlands