T Rowe Price: Engagement or voting? Asset manager advocates alternatives

Direct engagement with companies produces better results than shareholder resolutions at AGMs, an asset manager has argued. US investment house T Rowe Price, which runs approximately $1trn, stated in its annual ESG report that it preferred to engage one-to-one with companies to encourage positive changes rather than focus on shareholder campaigns at annual meetings. The […]

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Environmental factors top list of investor priorities

Environmental factors top list of investor priorities Environmental and corporate governance issues topped the list of biggest priorities for the UK’s largest investors – but stewardship engagement remains an area of concern, a report reveals. EY’s inaugural report into investor stewardship and engagement found that while investors and asset managers were most focused on environment […]

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International Women's Day

Despite its shorter length companies may find adapting to the UK’s revised corporate governance code challenging, business leaders and advisers suggested. However, there was broad support for the approach taken by the Financial Reporting Council (FRC) after it launched its consultation last week. Carolyn Fairbairn, director-general of the Confederation of British Industry (CBI), which represents […]

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Sports Direct AGM

Retailer Sports Direct which has been under intense scrutiny from investors, politicians and the media for over a year due to perceived corporate governance failings and criticisms of its working practices has appointed a permanent finance director. Jon Kempster will join the company and its board in September. His previous experience includes being finance director […]

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Phyllis Borzl - DoL

US regulators have responded to concerns that employee pension plans have not been exercising their shareholder rights by issuing updated guidance on proxy voting for 2017. The Department of Labor’s Employee Benefits Security Administration (EBSA) agency said that it is has long believed that it is important for plan administrators to know what their responsibilities […]

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UK investment campaign group ShareAction has urged investors to use the binding votes on remuneration policy at BP and Shell in 2017 to ensure the oil majors can demonstrate their commercial strategies are aligned with a move to a low carbon economy. In an investor briefing ShareAction said it believes shareholders should engage with the companies to ensure […]

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Forty institutional investors, including Coller Capital, three Swedish state pension funds, Aviva, Nordea and Robeco have launched an engagement with 16 multinational food companies highlighting the material risks posed by industrial animal production. The coalition, which together manages $1.25 trillion in assets, has written to the companies urging them to identify their plans to respond to this risk, in particular […]

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Major institutional investors were among those criticising retailer Sports Direct at its AGM this week and showed their disquiet about the company through their votes. The majority of independent shareholders voted against the re-election of the chairman Keith Hellawell and in favour of a shareholder resolution put forward by the Trade Union Share Owners (TUSO) group and Islington Council […]

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A strong corporate culture that is embedded throughout a company and reinforced with strong leadership by the chief executive and chairman can produce long-term value for businesses a study by the Financial Reporting Council has found. The report, based on a series of interviews with company secretaries, chairmen and chief executives, explores the relationship between corporate […]

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The Investment Association (IA) has published an industry-wide Productivity Action Plan which it believes will boost the UK economy through long-term investment, helping to reverse the UK’s productivity problem. The action plan aims to encourage the provision of more long-term finance for companies and enhance investor stewardship. The proposals were developed by a steering committee made up of […]

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