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Investors' call for clarity pushes ownership and transparency up the agenda
by James Poulter on Mar 14, 2013 at 11:41
No silver bullet
But engagement with companies is not always successful, and according to Latham much depends on the individual approach taken.
‘If we collaborate with other investors through initiatives such as the UN Principles for Responsible Investment then engagement attempts can be more co-ordinated and more successful,' he argued.
Standard Life Investments' (SLI) Keith Skeotch said issues of responsibility and accountability 'go hand in hand', and the asset manager tries to be as transparent as it possibly can.
Its equities head David Cumming is often vocal on matters of shareholder value, seen recently with the Glencore-Xstrata merger, and this helps investors stay informed about SLI's stance on major deals.
Writing in SLI's annual governance and stewardship review, chief executive Skeotch said: 'It is important Standard Life Investments be as transparent as possible, and account, in a fair and balanced way, for how we have fulfilled our responsibilities.
'We believe this is particularly important at a time when it is incumbent upon the investment management industry to demonstrate it is engaging effectively with investee companies and pulling its weight in influencing the development of law, regulation and other aspects of public policy that are so critical to ensuring long term capital is not only allocated efficiently, but also rewarded with attractive risk-adjusted long term returns.'
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