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Corporate governance

AMP Capital is at the forefront of corporate governance initiatives. Recognising that we can influence company policy on matters of corporate governance by virtue of the shareholdings under our management, we lodge considered proxy votes on all resolutions and engage with companies on specific matters.

Issues discussed can include for example: board composition and independence, remuneration, corporate accountability structures, compliance, negligence, bribery and corruption, conflicts of interest, related-party transactions, shareholder rights, accounting and audit quality. All this is done in the interests of driving better long-term outcomes for our clients.

Our corporate governance credentials

Transparency

Transparency

To assist our clients in achieving the returns on their investments that they expect, we seek high standards of transparency, corporate governance and social responsibility from the companies in which we invest. This involves monitoring and entering into dialogue with companies on key aspects of their corporate governance and their relationship with society as a whole.

 Proxy voting

Proxy voting

Recognising that we can influence company policy on matters of corporate governance by virtue of the shareholdings under our management, we lodge considered proxy votes on all resolutions and engage with companies on issues such as executive remuneration, board composition and risk management. All this is done in the interest of driving better long term investment outcomes for our clients. View our Proxy Voting Policy.

 Detailed analysis

Detailed analysis

For us flashing lights appear when companies lack transparency, when boards are not representative of their public shareholders, or when pay structures reward management for actions contrary to shareholder interests. Diligent analysis of these issues can help identify which companies to invest in and which to avoid.

Vote disclosure

Vote disclosure

We believe it is our fiduciary duty to exercise voting rights at companies where we hold shares

For more than 20 years we have submitted considered proxy voting instructions on all resolutions where we have the authority to vote.

Since 2005 AMP Capital’s Corporate Governance Reports have included a summary of votes cast

Each edition contains an explanation of our proxy voting activity and lists the companies where votes were cast against director-election or remuneration-related resolutions.

Proxy voting needs to be disclosed on a per scheme, per investment and per resolution basis

2015 marks the first year of this requirement by the Financial Services Council*. Schemes are required to disclose votes within three months of their financial year-end. One AMP Capital scheme (the Blue Chip Trust) meets that criteria and disclosure of its proxy voting activity is available below. Disclosure of votes cast for other schemes will be made after their financial year ends on 31 December 2015

* FSC Standard No.13: voting policy, voting record and disclosure

Use of proxy consultants

Use of proxy consultants

We have dedicated internal resources that deal with the analysis and execution of proxy voting

Having been a pioneer of shareholder engagement and proxy voting in Australia, our proxy analysis benefits from strong corporate access and a comprehensive in-house database.

We supplement our internal research by subscribing to proxy advisor research

We currently subscribe to proxy advice from Ownership Matters, Glass Lewis and MSCI (ISS). Each proxy advisor is contracted to provide advice on a different region. The nature of advice received, and the extent to which it influences our voting decisions, varies between advisers and regions.

Corporate governance reports

After each proxy season AMP Capital publishes a comprehensive corporate governance report. This report discloses our voting statistics, names companies where resolutions were voted against and presents various topical articles and research on governance. 

Report Download
2015 Full-year report - February 2016 0
2015 Mid-year report - September 2015 0
2014 Full year report - March 2015 0
2014 Mid year report  - August 2014 0
2013 Full year report  - March 2014 0
2013 Mid year report  - August 2013 0
2012 Full year report - January 2013 0
2012 Mid year report - July 2012 0
2011 Full year report - February 2012 0
2011 Mid year report - September 2011 0
2010 Full year report - January 2011 0
2010 Mid year report - August 2010 0