News
Embracing Principles for Responsible Investment
10 February 2009
Bennelong Funds Management (BFM) has become a signatory to the Principles for Responsible Investment (PRI).
The PRI is, in essence, a set off global best practices for responsible investment. They provide environmental, social and corporate governance frameworks within which investors can consider and assess these issues throughout the investment selection process.
Jarrod Brown, BFM's Chief Executive Officer, said there are a number of developments under way to bring the principles to life for their Australian equity's team.
"To help us embed the PRI within our business, BFM has engaged the services of respected industry figure Steve Gibbs. Steve was the sole Australian representative personally invited by Kofi Annan, United Nations Secretary General, to join a small group of individuals to create what have become the United Nations' PRI," Jarrod said.
"Steve's expertise and unique insight into the principles will ensure our policies are relevant to our investment process and internal stakeholders, as well as meet the needs of our clients."
While BFM has only just become a signatory of the PRI, the business has a number of steps under way to formalise their commitment to the principles. These include:
- finalisation of a Corporate Governance Policy, which includes guidelines for transparency of proxy voting and reporting to all clients; and
- embedding of PRI in Bennelong Australian Equity Partners' analysis, both at the stock research/rating level and within individual analysts' processes.
The Bennelong Group itself has a unique charter when it comes to environmental, social and governance standards. While the Bennelong Group owns and manages significant businesses globally, it also measures its success through contributing to positive and lasting change in the wider community via the Bennelong Foundation.
"Bennelong's structure is such that the ultimate beneficiary of its success is the Bennelong Foundation," said Jarrod.