Hints and tips:
...JPMAM said it had made a “significant investment” in its own stewardship team and corporate engagement: “Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined...
...A $95.2bn Massachusetts state pension fund voted last week to change the name of its ESG Committee to the Stewardship and Sustainability Committee....
...“Buy what you know” was a keystone of his investing philosophy — one that earned the Fidelity Magellan fund a benchmark-beating 29 per cent annualised return under his 13-year stewardship....
...No one wants to see the great reputation we have for our stewardship work getting trashed,” said a senior London-based Federated Hermes employee....
...“It’s really what clients actually care about right now,” said Joud Abdel Majeid, BlackRock’s global stewardship head....
...This language does however appear in BlackRock’s longer “global principles” document for its stewardship activities, which was also published last week....
...His successor Tim Cook has always faced questions about his own ability to find Apple’s “next big thing” — though his successful stewardship of the iPhone and expansion into the profitable services business...
...prioritise financial results for investors, not moral concerns, and Mondelez’s Russia revenue falls well under the 5 per cent threshold that is considered a benchmark for material issues, according to stewardship...
...Still, it’s not easy for the average retail investor to find out which passive or active funds are doing the best on stewardship, voting or divestment. This should be much more straightforward....
...They believe farmers should be paid for their stewardship of the land. “We’re doing it for the soil,” says Sophie, “not so much the carbon.”...
...Over spaghetti alle vongole, former Juventus chair Andrea Agnelli defends his role in the European Super League, his stewardship of Italy’s most successful football club, and explains his decision to start...
...BlackRock said that concerns about “inconsistencies” in the company’s stated strategy drove its decision to vote against the climate plan, according to its 2023 investment stewardship summary....
...“But Dai-ichi Life is clearly on the conservative side and people will look at it and say that’s Japan Inc. It’s great news for M&A in Japan.”...
...BlackRock, Vanguard and State Street maintain “stewardship” teams which decide how to vote in line with house corporate governance values. But this is proving awkward....
..., every device that’s implanted in the body, including pacemakers, all of them depend on endotoxin testing, all of them depend on this one animal which is declining,” said Adam Kanzer, head of Americas stewardship...
...“BlackRock is committed to a future where every investor can have the choice to participate in the shareholder voting process,” said Joud Abdel Majeid, global head of investment stewardship....
...A version of this article was first published by Nikkei Asia on May 16 2023. ©2023 Nikkei Inc. All rights reserved....
...On Sunday night, they announced plans for the future stewardship of the funds that Crispin Odey ran, including the Odey Europe Inc fund and Odey OIE Mac funds, both of which were handed to Freddie Neave....
...Some of Europe believes — rightly or wrongly — that it has good unequal voting aimed at long-term decision-making and responsible stewardship, rather than the nasty American control freakery....
...The deal was one of the most striking illustrations yet of the growing power and influence of the PIF under the stewardship of Crown Prince Mohammed bin Salman....
...The sale comes as investors displayed frustration over Tesla’s future under the stewardship of what some consider to be a highly distracted chief executive....
...BlackRock Investment Stewardship did not support their campaigns as we did not consider them to be in the best economic interests of our clients.”...
...Thursday is due to hear testimony from Dalia Blass, BlackRock’s head of external affairs; Lori Heinel, State Street’s global chief investment officer; and Lorraine Kelly, the global head of investment stewardship...
...But BlackRock has come in for particular scrutiny as Fink has been outspoken about the group’s stewardship efforts to improve corporate governance and address climate change....
...At Vanguard, its internal stewardship team votes the shares held by passive index funds, while the external managers of its active funds vote those shares....
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