When considering engagement with an investee company we are clear about what we are looking to achieve.
The main objectives of our engagement activities are:
• to enhance our conviction in investee companies
• to understand management incentives
• to identify and share best practice
• ultimately to improve corporate practice
As such the approach we take will vary depending on the desired outcome. Where there is an objective of enhancing our understanding of the structures, motivations or strategy of a company we will not establish defined milestones or goals.
Where we are looking to encourage better corporate practice e.g. improved disclosure or changes to corporate behaviour we will outline our reasoning, set out our expectations and consider what should be an appropriate timeline for resolution.
Our process on tracking engagement is overseen by David Sheasby our Head of Stewardship and ESG.
The investment team meets on a daily basis with a focus on read-across from one company to another - this ensures that lessons learned from any engagement on a particular issue are disseminated quickly and effectively to the broader team. Our internal research portal provides access to all company research and company contact by one analyst for the broader team.