- Investment Expertise
We’re finding that an increasing number of institutional, pension fund and high-net-worth investors are turning to private equity in order to enhance their portfolio performance.
We are committed to supporting the insurance sector and have a dedicated insurance solutions team.
- Our insight
The House View process provides a consistent macroeconomic framework to analysing global financial markets.
Our Head of Global Strategy, Andrew Milligan, introduces the latest edition of Global Outlook, a summary of our House View.
Standard Life Investments’ Global Strategy team provide regular analysis of the key economic data that has been influencing financial markets.
Our global strategists combine valuable experience, thorough research and analysis to tackle major issues of the moment.
Governance and stewardship is about making sure that companies’ operational processes and policies are robust and responsible.
- How we discharge our stewardship responsibilities
- Our policy for managing conflicts of interests
- How we monitor our investee companies
- Our guidelines for escalating engagement
- Our willingness to act collectively with other investors
- Our policy on voting and voting disclosure
- How we report on stewardship to our clients
We recognise the importance of transparency and accountability when it comes to our stewardship responsibilities. To this end, we have published an annual review of our governance and stewardship activities, which provides an account of how we have fulfilled our responsibilities. Please select the link below to view the 2016 annual review.2016 annual review
- Responsible Investment
We recognise that the management of environmental and social responsibilities is subject to many factors, and take into account the particular circumstances, industries and locations in which the companies operate.
We've produced guidelines on responsible investment to explain how we evaluate the environmental and social policies of the companies in which we are (or might be) an investor.
Standard Life Investments continues to hold boards to account
01 February 2017
Standard Life Investments, the global investment manager, has issued its Governance & Stewardship Annual Review for 2016. The report provides an account of its global engagement and voting activities during the year as well as insights into Standard Life Investments’ views on some of the key international developments and topical issues in governance & stewardship.
During 2016 key areas of focus for Standard Life Investments when voting were board composition, mergers & acquisitions, pre-emption rights, auditors, remuneration and shareholder rights. Globally there were 215 meetings and other engagement activities with companies. In addition, there were 201 voting engagements and 105 remuneration consultations.
Commenting, Euan Stirling, Head of Stewardship & ESG Investment, Standard Life Investments, said:
“The original shareholder spring of 2012 was replayed in 2016, with widespread dissent in shareholder ranks against excessive pay for management. We place particular emphasis on corporate culture and the impact of excessive remuneration and the responsibility of shareholders to hold boards to account. The serious implications of failure in these areas suggest that further remedies are likely to be sought.
“The UK binding vote on remuneration policy is now in its third year. During 2017, many companies will need to seek authority for a new remuneration policy and we have already been consulted by a significant number of companies on this matter. While the binding remuneration policy vote has restricted the amount of discretion available to remuneration committees, it has not addressed the underlying trend of increasing quantum. As active investment managers with a focus on active, constructive engagement we believe that we can positively influence the companies in which we invest.”
The voting summary for 2016 is as follows:
- Shareholder meetings at which client shares were voted – 1,569
- Number of resolutions voted – 19,051
- Shareholder meetings at which shares were voted against management recommendations on one or more resolution – 430
- Number of resolutions voted against management recommendations – 964
- Meetings where Standard Life Investments abstained on one or more resolutions – 143
- Number of resolutions abstained – 199
The reasons for voting against management recommendations were because of remuneration and share schemes (42%), pre-emption/dilution matters (26%), board matters (12%) and other issues (20%).
The report details voting at Babcock, Barclays, BP, Reckitt Benckiser Group, Sky and Sports Direct International and gives commentary on engagement activities at Vedanta Resources, WPP, BHP Billiton and Volkswagen.