Amongst our major risk mitigation strategies are:
FUNO's tenants come from all sectors, our properties are located countrywide and our portfolio includes commercial, industrial, office and mixed use real estate; which has allowed us to maintain stability and business continuity.
Constant and reliant tenant communication:
we strive to offer our tenants quality properties and top-notch service. Our organization has ranked amongst the best REIT’s worldwide, due to our service and close relationships.
Centralized supplier process:
A collegiate board revises every new contract, from new tenant proposals to other income services (parking, marketing, etc.) regardless of size, income, GLA, location or client to prevent risks with possible tenants and provide better services.
Internal collegiate organ:
Our acquisition process is subject to compliance with several conditions/requirements, including due diligence, general revision, auditing process, environmental assessment, impact assessments, transportation impact study, amongst others. These processes function as check points to minimize acquisition risks.
PProperty acquisition process:
All our properties have been insured; and we require our tenants to have all their merchandise insured as well.
Our properties located in coastal or seismic areas have implemented safety procedures, emergency management and response protocols to effectively respond to any emergency.
Properties that have suffered natural phenomena disasters have been redesigned, planned and projected to minimize recurrence of the same damages.
Business continuity plan:
FUNO has a business continuity plan, protecting our critical hardware and software; in the occasion of natural disaster or any human related emergency, our operations may resume shortly or continue without delay.
Security and business culture measure:
We have taken security and cultural measures, avoiding cash handling in our properties; which also helps as an anti-corruption measure.
Health circuit and medical check-ups:
Every year, we perform a health circuit and medical checkups for our employees and executive team, adding to our individual and organizational health map (see annual report for details). Each employee receives a personalized plan, to improve their health status and reduce disease risks.
It is one of FUNO's most important assets. As an organization, we strive to offer them better development opportunities and benefits.
Monitor constantly law proposals, reforms and regulations which may affect our operations. Our risk management culture is one of prevention, hence we rather make precise adjustments to our operations, before they may affect us.
FUNO complies with all applicable regulations in its operation, management and development.
FUNO's operations, culture and organizational chart, has been designed to prevent and mitigate risks. We relish in our open-door culture and the way our offices have been designed, which promote collaboration amongst employees.
These eases immediate communication amongst areas to effectively solve problems in case of emergencies.
Risk management in our operations is performed in a matrixial style, with particular characteristics for every property, operation and activity. In order to ensure integral risk management for particular cases, we’ve set up multidisciplinary teams which incorporate experience, technical and operational knowledge from different departments, such as: maintenance, architecture and design, acquisitions, finance, law, marketing, tenant coordination, management, collection, human resources and if needed external experts.
In addition, we strive to empower our employees with the right set of tools; to identify, communicate and react in case of operational risks and other emergencies:
Our operational manuals are continuously updated; including operational risks and important processes, as well as proper response mechanisms to each.
Ethics line or grievance mechanism, is anonymous and available for any internal or external stakeholder.
Open door policy with the entire executive team.
Monthly property assessments and monitoring.
Property management through exception.