This survey - sent out to the 274 asset managers, asset owners and service providers who had signed up to the Code as of the end of September 2013 - asked several questions around key areas, such as the integration of stewardship into the investment process, monitoring, voting, and public policy statements.
Some key findings are highlighted below:
- Board issues, strategy and remuneration are the matters respondents consider to be most important and engage frequently on
- 90% of those that responded to the question on reviewing or updating policy statements had done so in 2013, with 67% making changes
- When reviewing who approved policy statements, the board and executive committee came joint first with 37 responses each
- 69% of responders did not change their voting policies or processes in 2013. Of those that did:
- Four took a stronger stance on companies with limited gender diversity
- Four are looking to integrate ESG considerations and climate change
- When looking at how institutional investors monitor investee companies, 89% use the following:
- regular contact/meetings
- contact with other investors or general stakeholders of the investee company
- in-house research team
- analysis of company news and reports
- 3rd party research services or use of external media
- particular person or function is assigned to each company
The report, which provides a more in depth look at Stewardship engagement can be found here. For a quick look back at what changes occurred in 2012, why not view our Need to Know article?