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Colonial First State Global Asset Management (including First State Investments)

PRI reporting framework 2016

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Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]

We asked teams to rank which of the criteria is most used to prioritise engagements, the three items not selected received the lowest ranks but were selected as relevant by some teams. 

LEA 04. Objectives for engagement activities

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities.

04.5. Additional information. [Optional]

Engagement is governed by our engagement and proxy voting guidelines and global stewardship principles. Each team has its own process for setting objectives and monitoring engagements with all teams either doing one or more of the following:

  • Maintaining a company meeting database
  • Incorporating engagement outcomes in stock notes
  • Discussing engagements in regular team meetings (teams meet between two and five times a week)

When surveyed:

4.1 - One team set objectives for all engagements, three teams set objectives for the majority of engagements, three teams set the objectives for the minority of cases and one team does not set objectives.

4.2 - Four teams monitor company action in all cases, three do so in the majority of cases and one does in the minority of cases.

4.4 - Two teams define and set timelines milestones and goals, two track progress, two revise and revisit goals on a continuous basis, and one establishes a process for when goals are not met.