First State Super has signed onto the Australian Asset Owner Stewardship Code, ahead of the Code’s formal commencement on 1 July, this year.
The Code, developed by the Australian Council of Superannuation Investors (ACSI), provided principles and guidance to promote higher stewardship standards and increase accountability. While such codes already exist in the United Kingdom, United States, Japan, Hong Kong, and South Africa, it would be a first for the Australian asset market.
“By becoming a signatory to the Stewardship Code, we are holding ourselves to the same standards of transparency and accountability that we expect of the companies we invest in,” First State Super chief executive, Deanne Stewart, said.
“As a responsible asset owner and industry leader, our members expect nothing less.”
“By signing the code, First State Super is promoting stronger stewardship, which supports the quality and integrity of our financial markets,” ACSI chief executive, Louise Davidson, Added.
