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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
Overriding a manager's vote on a controversial shareholder resolution
While Christian Super expects fund managers to vote at company meetings, it reserves the right to override fund manager votes. This occurred during the reporting year in regards to a shareholder resolution pertaining to an ESG matter.
Christian Super decided to vote differently to the fund managers' originally cast vote. This was not due to the fund manager failing to take into consideration ESG within the voting decision, but rather it was felt that the vote originally cast would've sent a different signal to the company than what we were hoping to achieve.
ESG Due Diligence on listed equity manager
In conducting due diligence on a potential fund manager, their process of incorporating ESG elements into financial analysis was reviewed and compared against Christian Super's own processes.
This review found significant alignment to Christian Super's approach to ESG, and we were satisfied with the depth and rigour of their ESG incorporation in their analysis.