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MUNICIPAL FIRE & POLICERETIREMENT SYSTEM OF IOWA7 I 55 Lake Drive Suite 20 I, West Des Moines, IA 50266phone:(5 I 5) 254-9200fax:(515) 254-9300e-mail: pensions(ii m fnrsi.orgw11 1m111fnrsi.orgOctober 1, 2017Iowa General AssemblyState CapitolDes Moines, IA 50309Re:Iran Divestment (Iowa Code Chapter l 2H)Dear Iowa General Assembly:The referenced statute was enacted in 20 I 1 pertaining to the investment of public fund assets incompanies doing business in or with the Country of Iran. Specifically, the statutory sectionprovides that the retirement system actively engage with and ultimately may be required to divestits positions from companies which may be complicit in aiding and abetting the ongoing supportof international terrorism.The System is hereby complying with the requirements of the statute, 12H.5:2. Annual report. On October 1, 2012, and each October 1 thereafter, each public fundshall make available to the public, and file with the general assembly, an annual reportcovering the prior fiscal year that includes the.following:a. The scrutinized companies list as of the end of the fiscal year.b. A summmy of all written notices sent as required by section 12H3 during the fiscalyear.c. All investments sold, redeemed, divested, or withdrawn as provided in section 12H.4during the fiscal year.The Board of Trustees respectfully submits the attached ammal report.RECEIVEDSEP 19 2017HOUSE FIN ANCEAttachment - October 1, 20 17 ReportS:\A INVESTMENTS\IRAN DIVESTMENT\General Assembly Reports\171001 General Assembly Cover Letter.doc
D-2-2MFPRSIIran Divestment ReportA. Total Universe of Companies Per ldealsWork, Inc.B. Summary of all written notices sentC. Total Positions DivestedAs of:June 30, 2017S:\A BOARD\AGENDAS\2017 Board Agendas\17 - 6 AUGUST AGENDA\D - 2 - 2 Iran Divestment Report.xlsHEADER51
0·2·2A. Total Universe of Companies Per ldealsWork Inc.2345678COMPANYAban Offshore Ud.Alstom SAArabian Pipes CoBlancamano SpaBouygues SACapital Product Partners LPChadonnalu Mineral &Ind. Co.China Came Engineering Co. UdScrutinized Active/Scrutinized Plan of SubstantialActionScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized Active9China Nonferrous Metal Industry's Foreign Eng. And Const Co. Ltd.Scrutinized Active10111213141516171819China Oilfield ServicesChina Petroleum & Chemical CorpChina Railway Group UdChlyoda CorporationDaelim IndustrialDaewoo Engineering &ConstructionDaniell & C Officlne Meccanlche SpaDNOASAEnergy House Holding Company K.S.C.C.Engineers India Ltd.Eni SpaF.L.Smldth & Co. ASGazpromOAOGlencore pieGruppo Waste Italia SpAHyundai Engineering &ConstructionHyundai MobisHyundai MotorIndian Oil Corporation Ltd.Inpex CorporationInter Rao Ues JSCJapan Drilling Co., Ltd.Japan Petroleum Exploration Co.,Ltd.Korea Electric PowerKuwait Finance HouseMaire Tecnlmont S.pAMarubeni CorporationMitsubishi Materials CorporationMotorSlchNational Aluminium Co. Ltd.Oil & Natural Gas Corporation Ltd.Oil India LtdOMVAGPetroChina Co. Ltd.PJSC LukoilPJSC TatneftPolskle Gomlctwo Naftowe I Gazownlctwo SAPoscoPosco Daewoo CorpPower Construction Corporation of China, Ud.PovrvPlcRoyal Dutch Shell PieShipping Corporation of India Ltd.Siemens AGStrovtransgaz OAOUnited Aircraft CorporationZlo Podolak Machinery PlantScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized ActiveScrutinized 424344454647484950515253545556S:IA BOARDIAGENDAS'2017 Board Agondes\17 - 0 AUGUST AGENDA\O 2 2 Iran Oi"8stmont Roport.icllffollll Uniwrso52
0·2·2B. Summary of all written noticesB. Summary of all written noticesJuly 19th, 2016MFPRSI malled out letters to foil owing firms who hold Indirect securities informing them to consider divestment from thecompanies held.Firms:SSgASchrodersJuly 19th, 2016MFPRSI malled letters to the following companies that were held indirectly in the portfolio informing them of possibledivestment from the company and to respond within 90 days of the date of letter with any other information they wereable to provide.Following up annually with companies that remain on the listCompanies:Linde AGAugust 12th, 2016MFPRSI mailed out letters to all finns below with the quarterly scrutinized companies" list from the rw Financial withresponse date of August 31, 2016.Finns:State StreetDFABaillie GiffordMondrianAberdeenJP MorganGMOIntechDodge&CoxSchrodersSeptember 6th, 2016All firms responded to letter with any holdings of securities on "scrutinized companies" list.September 21st, 2016MFPRSI mailed out letters to following firms who hold Indirect securities informing them to consider divestment from thecompanies held.Finns:SSgAGMOSchrodersSeptember 21st, 2016MFPRSI mailed letters to the following companies that were held indirecUy in the portfolio informing them of possibledivestment from the company and to respond within 90 days of the date of letter with any other information they wereable to provide.Following up annually with companies that remain on the listCompanies:Bouygues SaDaewoo Engineering & ContructionInter Rao Ues JSCKorea Electric PowerSiemens AGS:\A BOARO\AGENDAS\2017 Board Agendas\17 6 AUGUST AGENDAID 2 2 Iran Diveslment Report.xlsSummary of all written notices53
0·2·2B. Summary of all written noticesSeptember 22nd, 2016MFPRSI mailed letters to the following companies that were held indirectly in the portfolio infonning them of possibledivestment from the company and to respond within 90 days of the date of letter with any other information they wereable to provide.Following up annually with companies that remain on the listCompanies:AlstomBharat Petroleum Corporation ltd.China Oilfield ServicesChina Petroleum and ChemicalDanieli & C- Officine Meccaniche SpaDoosan CorpEngineers India ltdEni SpaF.L. Smidth & Co. ASGail India ltd.GazpromGlencore FundingInpex Corp.Japan Drilling Co. Ltd.Japan Petroleum Exploration Co.,Ltd.Linde AGLukoil Oil Co.Maire Tecnimont SpaMitsubishi MaterialsMrtsui & Co.Oil & Natural Gas Corp LtdOMVAgPetroChina Co. Ltd.Polskie Gomictwo Naftowe i Gazownictwo SASK Networks Co. ltdTechnipNovember 17th, 2016MFPRSI mailed out letters to all firms below with the quarterly "scrutinized companies" list from the rN Financial withresponse date of November 30, 2016.Firms:State StreetDFABaillie GiffordMondrianAberdeenJP MorganGMOlntechDodge& CoxSchrodersS:\A BOARO\AGENOAS\2017 Board Agendas\17 - 6 AUGUST AGENOAID- 2 - 2 Iran Oivcslmont Report.xlSSummary of all written notices54
0·2·2B. Summary of all written noticesNovember 30th, 2016All finns responded to letter with any holdings of securities on scrutinized companies listDecember 16th, 2016MFPRSI mailed out letters to following firms who hold Indirect securities informing them to consider divestment from thecompanies held.Firms:MondrianSSgADecember 16th, 2016MFPRSI mailed letters to the following companies that were held indirectly in the portfolio informing them of possibledivestment from the company and to respond within 90 days of the date of letter with any other infonnation they wereable to provide.Following up annually with companies that remain on the listCompanies:Chiyoda CorporationDaelim IndustrialHyundai Engineering & ConstructionHyundai MobisHyundai MotorMarubeni CorporationMitsubishi Materials CorporationShipping Corporation of India Ltd.February 8th, 2017MFPRSI mailed out letters to all firms below with the quarterly "scrutinized companies" list from the IW Financial withresponse date of February 28, 2017.Firms:State StreetDFABaillie GiffordMondrianArtioJP MorganGMOlntechDodge&CoxSchrodersMarch 15th, 2017All finns responded to letter with any holdings of securities on "scrutinized companies" list.March 21th, 2017MFPRSI mailed out letters to following firms who hold Indirect securities informing them to consider divestment from thecompanies held.Firms:GMOMondrianSSgAS:\A BOARO\AGENDAS\2017 Board Agendas\17 6 AUGUST AGENDA\0- 2 2 Iran Oivostment Report.xlsSummary of 1111 written noticos55
D·2·2B. Summary of all written noticesMarch 21th, 2017MFPRSI mailed letters to the following companies that were held indirecUy in the portfolio informing them of possibledivestment from the company and to respond within 90 days of the date of letter with any other information they wereable to provide.Following up annually with companies that remain on the listCompanies:ONO ASAIndian Oil Corp LtdMay 12th, 2017MFPRSI mailed out letters to all firms below with the quarterly "scrutinized companies" list from the IW Financial withresponse date of May 31, 2017.Firms:State StreetDFABaillie GiffordMondrianAberdeenJP MorganGMOlntechDodge& CoxSchrodersMay 31st, 2017All firms responded to letter with any holdings of securities on "scrutinized companies" list.March 21th, 2017MFPRSI mailed out letters to following firms who hold Indirect securities informing them to consider divestment from thecompanies held.Firms:MondrianSSgAJune 8th, 2017MFPRS! mailed letters to the following companies that were held indirecUy in the portfolio informing them of possibledivestment from the company and to respond within 90 days of the date of letter with any other information they wereable to provide.Following up annually with companies that remain on the listCompanies:Korea Electric PowerPosco Daewoo Corp.Royal Dutch Shell PieS:\A BOARO\AGENOAS\2017 Board Agandes\17 6 AUGUST AGENDAID 2 2 Iran Divastmant Raport.xlsSummary of all written notices56
D-2-2C. Total Positions ctive/InactiveSnaresPrior QtrVatue Sales ProceedsGain/LossNo positions were divested in FY 2017S:\A BOARD\AGENDAS\2017 Boord Agondas\17 6 AUGUST AGENDA\D - 2 - 2 Iran Dlvoslmcnl Report.xisTotal Positions Divested57
RETIREMENT SYSTEM OF IOWA 7 I 55 Lake Drive Suite 20 I, West Des Moines, IA 50266 October 1, 2017 Iowa General Assembly State Capitol Des Moines, IA 50309 w111m111fnrsi.org Re: Iran Divestment (Iowa Code Chapter l 2H) Dear Iowa General Assembly: phone: (5 I 5) 254-9200 fax: (515) 254-9300 e-mail: pensions(iim fnrsi.org
