Investment managers play an important role because they have the power to incorporate ESG issues into their investment decisions to contribute to PRI’s mission of achieving a more sustainable financial system. 

Investment manager members represent two out of the ten board members. Our Governance page takes you through how we are structured, and has more details on your rights as a signatory, and PRI’s Articles of Association.

Examples of investment manager signatory types: fund management, funds of funds managers, managers of managers, sub-advised products, execution and advisory services.  

AUM definition 

What are your organisation’s total assets under management (AUM) in US$ billion, including the assets of all your consolidated subsidiaries?  

The figure should represent total gross AUM, including uncalled commitments (e.g. in private equity or infrastructure) and policyholders’ funds, off-balance-sheet assets and their portion of joint venture (JV) assets (where relevant). The AUM figure should refer to the market value. Where market value is unavailable, we advise signatories to report the latest net realisable value estimate of those assets.   

Please provide the amount in USD – applicants can check the exchange rate of their currency to USD on the International Monetary Fund website (please use dot as a decimal separator) 

Provisional signatory

Signatories who are still in their fundraising process and not managing assets yet can apply to become a provisional signatory. You will need to provide a placement memorandum or an official letter stating the assets you intend to raise in the first year of becoming a signatory. Your fee will correspond to the AUM that you expect to raise. 

Provisional signatories are expected to report on the Organisational Overview, the Policy, Governance and Strategy (PGS) module and the Confidence-building measures (CBMs) module in the PRI’s Reporting Framework.


The PRI is a not-for-profit organisation and signatory fees and other revenue are spent on delivering value to our diverse signatories, driving responsible investment through opportunities for learning and development, sharing best practices, and collaborative engagement. 

The annual signatory fee is pro-rated on signing, and then payable each April. Investment managers fees are calculated based on their AUM. 

Please see our current fee bands for investment managers below:  

AUM (US$ bln)≥ 500100 - 499.9950-99.9930-49.9910 - 29.995 - 9.991 - 4.990.1 - 0.990 - 0 .099
2024/25 fee (GBP) tbc tbc £16,283 £14,317 £13,020 £9,112 £5, 204 £1,966 £1, 298
tbc is defined as “to be confirmed” as we are proposing two new fee bands for asset owner and investment manager signatories with the largest AUM which we believe will promote fairness and equity. By implementing this, we can ensure that each member contributes proportionately based on its fund size. Signatories will be asked to provide feedback on this change in the upcoming consultation in late March.


PRI reporting is the largest global reporting project on responsible investment. It was developed with investors, for investors. Investment manager signatories are required to report on their responsible investment activities annually. 

The first reporting period after signing up will be voluntary, we encourage our new signatories to participate in this voluntary reporting period to help set their baseline, and become familiar with the process.  

Read more:

Minimum requirements 

We believe that an economically efficient, sustainable global financial system is a necessity for long-term value creation. Such a system will reward long-term, responsible investment and benefit the environment and society as a whole.   

Signing the Principles and becoming a signatory of the PRI demonstrates your commitment to responsible investment practice.

Since the PRI’s launch in 2006, responsible investment has entered the mainstream. In 2018 the PRI implemented minimum requirements for membership, which ensure that our members demonstrate their commitment to responsible investing by “walking the talk”.

Our minimum requirements are an essential part of ensuring a sustainable financial system. We work closely with our signatories to ensure that they are achievable, and to support their implementation. The minimum requirements are applicable from your first mandatory reporting cycle as a signatory. 

Reporting Terms and Conditions 

Please ensure you have reviewed our reporting Terms and Conditions. As we collect and process your data, we have set out commitments to ensure your data is processed with due care and attention, and that we are clear on how we use your data. 

The reporting framework is designed to provide a global and transparent approach to responsible investment practices. As this is a unique data set, it is invaluable for furthering responsible investment practices through academic research and analysis, which may be undertaken on our behalf under strict confidentiality agreements. Your private data will never be shared publicly.   

Apply now 

To start a new application, or continue an existing one:

Apply now

Sign Up Guidelines 

‘Internally managed assets’ are those for which investment decisions at a security, asset, or financial instrument level are made in-house by the signatory. This should include consolidated and wholly owned subsidiaries of the signatory. Signatories that perform internal research that supports investment decisions and/or provides lists of eligible (or ineligible) securities, assets, or financial instruments to sub-advisor(s) should list their assets as internally managed. 

‘Externally managed assets’ are those for which investment decisions at a security, asset, or financial instrument level are made on an organisation’s behalf by an external investment manager or similar third party. Fund of funds managers should report their assets as externally managed where the above applies. 

Investment managers that primarily perform investment research internally and provide lists of eligible securities (or ineligible securities) to sub-advisor(s) should list their assets as internally managed. Funds of funds (including funds of hedge funds) and managers of managers whose investment decisions (e.g. buy/sell/hold) for the underlying assets are made by third parties should list their assets as externally managed.  

Fixed income and private debt 

For the purposes of the PRI Reporting Framework, private debt should be reported under fixed income. Refer to Spotlight on responsible investment in private debt for a list of private debt strategies. 

Treatment of REITs 

If the fund manager invests in a range of listed assets and the fund holds shares in REITs, then the fund manager should report under the relevant LE strategy (active fundamental, active quantitative or passive). 

If the fund manager manages a REIT (or several REITs) as a direct property investment, deciding on which properties within the REIT to buy and sell and possibly managing them, then that fund manager should report under the Real Estate module. 

Private equity, real estate and infrastructure  

Infrastructure and real estate are treated as separate reporting categories due to the different characteristics of the investments in these sectors. When possible, non-listed equity investments in infrastructure and real estate should be reported in those categories rather than as private equity.  

Secondary interests in limited partnership investment funds should be listed as externally managed. 

Hedge funds 

Investments in private or public companies through hedge fund structures should be reported as hedge funds only to avoid being double counted (for example, listed equity held in hedge fund structures should not also be reported under listed equity).  

Cash and money market instruments 

Cash, cash equivalents and/or overlays and money market assets should be reported as ‘Other’. If these assets are off-balance sheet, they should be reported as ‘Off-balance sheet’.  


This category includes assets that do not fit any of the above categories. Trade finance should be reported under ‘Other’. 

Signatories should report their derivative securities related to each asset class as ‘Other’ and not in the asset class. Examples of derivatives include futures (e.g. commodity future, currency futures, dividend futures), forwards, swaps (e.g. interest-rate, currency, index-return, Constant Maturity swaps, Total return Swap), exotic derivatives (e.g. inflation derivatives, weather derivatives, credit-linked note, credit derivatives, equity-linked note), interest-rate derivatives (e.g. caps, floors, swaptions, IRS), equity derivatives (e.g. options, warrants, convertible bonds, single-stock futures). 

Off-balance sheet 

Any off-balance sheet should be indicated here, e.g. cash, cash equivalents and/or overlays and money market assets.  

Committed funds 

Ideally, signatories’ asset class mix should include all uncalled commitments and committed funds (e.g. in private equity or infrastructure). However, if a signatory classifies these differently (e.g. if they are only able to provide a breakdown for invested capital), then it should be reported in that way. Signatories with AUM that consist entirely of uncalled commitments (i.e. signatories who are still raising funds) should indicate this in [OO 3].