Local Government Super (LGS) has launched a website disclosing their voting intentions in advance of investee company shareholder meetings.
The website discloses company proposals for consideration by shareholders and LGS' voting intentions in real time.
"The main objective of the new site is to increase transparency and disclosure of how we invest our members' retirement savings," LGS chief executive, Peter Lambert, said.
Where LGS votes against a proposal they will provide a reason for their voting decision. LGS will vote against recommendations if they believe there is a long-term environmental, social, and governance (ESG) risk leading to loss of shareholder value.
"We engage with companies on a range of ESG issues to ensure we are addressing potential risks across our investment portfolio," Lambert said.
"We are raising awareness of where we invest our members' savings and how their rights as ultimate beneficiaries of shares are being honoured."
LGS votes in accordance with the Australian Council of Superannuation Investors (ACSI) and CGI Glass Lewis recommendations. LGS has voted against company proposals in the past after concerns of:
LGS holds shares in the majority of top listed companies in Australia and overseas.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
Add new comment