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.
The superannuation industry has celebrated the passing of a bill that will provide super contributions on government-funded parental leave.
As TelstraSuper joins the trend of merging into larger funds, industry experts are questioning the long-term viability of corporate offerings.
Iress has launched a tool for superannuation funds looking to house digital advice capabilities.
Following a comprehensive review process, the two funds have entered into a merger agreement.