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CRISA came into effect in February 2012 and gives guidance on how institutional investors should execute investment analysis and investment activities and exercise rights to promote sound governance. Its principles are aligned with those of the UN Principles for Responsible Investing (UNPRI), of which we are also a signatory.
While the application of CRISA is voluntary, institutional investors are expected to adopt the principles and practice recommendations in CRISA on an “apply or explain” basis. Disclosure is required at least once a year.
King 3 requires companies to apply the King principles or explain why they do not apply. The investment industry recognised that unless they engaged with corporates, King 3 would lose effect. Both King 3 and CRISA were drafted under the auspices of the Institute of Directors (IOD) and the Association of Savings and Investments in SA (ASISA), amongst others, gave input on CRISA. Both require institutional investors to take environmental, social and corporate governance (ESG) issues seriously.
In signing the code, we commit to integrating its five principles into our investment process
By 2016, 10 years after inception, over 1 500 investment institutions, with assets under management of US$ 62 trillion had signed up to the UNPRI. Sanlam was the first South African private sector asset owner to become a signatory.
In signing up to the UNPRI, we committed to the following: