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“We believe in active management and absolutely insist our managers engage with companies as well,” Lander said.
“We will see what proxy advisers are saying and what the managers are saying, and if there’s a disconnect that’s when we’ll look into a particular issue.
“It’s not a tick-a-box system and we don’t just get a list from proxy advisers and vote that way, there’s a lot more thought put into it.
“It’s far more efficient to use proxy firms – it’s efficient for the companies and it’s efficient for the funds.”
Graham said they did go against the advice of proxy advisers on occasion, but it was not a high proportion of the total votes.
Pahari accuser tells of AMP hypocrisy By Sarah Kendell 21 July 2021
The woman at the centre of harassment allegations that saw AMP engulfed in scandal last year says she was “treated no better than a waitress at a restaurant” during her time at the wealth giant, despite its comprehensive diversity and inclusion policies.
Addressing the Australian Council of Superannuation Investors (ACSI) annual conference on Wednesday, former AMP Capital executive Julia Szlakowski detailed her experiences working for the fund manager, during which time she filed a harassment complaint against its former chief Boe Pahari.
“I never imagined as a qualified professional in a company that holds the public’s trust that I would be treated no better than a waitress in a restaurant,” Ms Szlakowski said.
“I did my due diligence and thought I had found a firm I could grow with, a place where I could be safe… everyone now knows how deeply mistaken I was,” Szlakowski said.
“I never imagined that as an experienced and qualified professional in a company that holds the public’s trust, I would be treated no better than I was as a waitress in a restaurant.”
Szlakowski said the aftermath of her going public with the incident was a lesson on corporate governance and how lack of proper corporate culture can destroy a company.
“When I was hired in 2016, AMP was one of the biggest financial institutions in the world, one of the top 20 companies listed on the Australian Securities Exchange (ASX), and one in four customers were an AMP customer,” Szlakowski said.
“We wanted our commitment to be just not about investments – which is hugely important – but to emphasise to our members as an organisation we are committed to being carbon neutral in an operational sense.
“We’ve had that for three years and were one of the first funds to do that, which was a significant commitment we made.”
When asked whether her members understood the difference between divestment versus engagement, Lander said the fund had to explain the nuances of the process.
“The challenge is as investors, we want to transform investments at a faster pace than reality,” Lander said.