Shareholders Archive

Aug 23, 2019
The week in GRC: Business Roundtable drops shareholder-first principle, and SEC issues proxy voting guidance
– The Business Roundtable (BRT) dropped the ‘shareholder primacy’ principle that has driven US capitalism for decades, urging companies to consider the environment and workers’ well-being alongside seeking profits, the Financial Times reported. A new ‘statement of purpose’ from the BRT places shareholders as one of five stakeholders, alongside customers, workers, suppliers an...
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Aug 22, 2019
Investors get record payouts, report shows
Shareholders in listed companies on global stock markets have been rewarded with more than $500 billion in dividends during the second quarter of the year – a record for investor payouts, according to analysis by asset manager Janus Henderson. But despite dividends hitting an all-time quarterly high of $513.8 billion, the year-on-year growth has slowed to a mere 1.1 percent, compared with 14 percent this time last year, the Janus Henderson Global Dividend Index hi...
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Jul 01, 2019
Integrating ESG at Neuberger Berman
What are Neuberger Berman’s assets under management? As of December 2018, $304 billion. When did you join the firm and what is the scope of your role? I joined two years ago in April 2017. My role is to lead the ESG investing activities across the whole company – our equities business and also our fixed-income and alternatives businesses. We’ve had a dedicated sustainable equity team since 1989, but when I joined ...
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Jun 28, 2019
The week in GRC: Asset managers said to target corporate access, and Icahn wants new Occidental directors
– CNN reported that Eldorado Resorts is to buy Caesars Entertainment to create the largest gaming company in the US. Eldorado Resorts said it has agreed to buy its larger rival in a cash and stock deal worth $17.3 billion. The announcement came three months after Carl Icahn joined Caesars’ board and pushed for a sale of the company. The proposed company would ha...
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Jun 21, 2019
How CalSTRS makes sustainability work
As a portfolio manager, how do you interact with other teams within CalSTRS on ESG issues? The group I’m in used to be called corporate governance; we recently changed our name to sustainable investment and stewardship strategies. CalSTRS has had ESG considerations in the investment department for decades, [but] around 15 years ago we started to build out our capacity to understand and act on ESG issues. Back then, my CIO Christopher Ailman ...
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Jun 21, 2019
Focusing on data analysis and engagement at AllianceBernstein
Can you outline some of the key aspects of AllianceBernstein’s ESG philosophy? We think about ESG as simply good research. As analysts, we are looking at companies – but you need to look at all factors that are important to a company in a particular industry. As a signatory to the UN [Principles for Responsible Investment], we agree to integrate ESG factors into the investment process. When you think about it, shouldn’t analysts be consi...
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Jun 19, 2019
Launching an impact-investment effort at Spouting Rock
What is the history of Spouting Rock and who are its clients? Spouting Rock began as a single family office. It was founded by our current president, Blakely Page. He had been doing investments for his own family – he has a long career on Wall Street – and then the firm established a merchant bank and broker-dealer side. In 2017 it started an asset management division. We have a handful of investment products; they’re not necessarily go...
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Jun 17, 2019
The Vanguard of ESG engagement
When Adrienne Monley started in the stewardship arm of Vanguard in 2015, as a leader on the US side, there were around a dozen people working in the team. That has since tripled in size and Monley moved to London in January 2018 to hire and establish a new stewardship team with a specific focus on European firms. ‘This globalization has been very deliberate on our part...
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