For our deep dive into engagement this issue we have taken three of the asset managers from our top-ranking funds in the Responsible Ratings Index database and looked at their use of proxy votes on climate resolutions.
Nordea Investment Management, Pictet Asset Management and Royal London Asset Management (RLAM) were the managers behind the top seven funds in June 2022. Using ShareAction data (see table in this month’s digital magazine) on shareholder resolutions for US companies last year, we can see how each fund group voted on climate during the 2021 AGM season.
Nordea had the highest rate of ‘for’ votes at 100% and the highest percentage of votes that went against the advice of the board – 91%. Pictet fell in the middle on both counts, with 92% and 85%, respectively. Meanwhile, RLAM had the lowest number of votes for the resolutions, with 78%, and the least votes against the board – 70%.
Read the full story in ESG Clarity’s September 2022 digital magazine.
Here are the top 25 funds in September 2022:
| Name | RRI | Morningstar Sustainability Rating | MSCI | Square Mile | Global Category | Sustainable Investment – Overall | Morningstar Rating Overall | Fund Size £bn |
|---|---|---|---|---|---|---|---|---|
| Nordea 1 – Global Climate & Envir BI EUR | 5 | 5 | 5 | Global Equity Mid/Small Cap | Yes | 5 | 8 | |
| Pictet-Security I USD | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 6 | |
| Nordea 1 – Alpha 15 MA Fd BI EUR | 5 | 5 | 5 | Multialternative | Yes | 5 | 4 | |
| Royal London Sustainable Div C Inc | 5 | 5 | 5 | Moderate Allocation | Yes | 5 | 3 | |
| Royal London Sustainable Leaders A Inc | 5 | 5 | 5 | UK Equity Large Cap | Yes | 5 | 3 | |
| Royal London Sustainable World A Inc | 5 | 5 | 5 | Responsible A | Aggressive Allocation | Yes | 5 | 3 |
| Brown Advisory US Sust Gr USD C Acc | 5 | 5 | 5 | US Equity Large Cap Growth | Yes | 5 | 3 | |
| Liontrust Sust Fut Mgd 3 Net Inc | 5 | 5 | 5 | Aggressive Allocation | Yes | 5 | 3 | |
| Robeco Sust Global Stars Eqs Fd EUR | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 3 | |
| Schroder ISF Glbl Sust Gr C Acc USD | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 3 | |
| Rathbone Ethical Bond R Acc | 5 | 5 | 5 | Responsible A | Sterling Fixed Income | Yes | 5 | 2 |
| GuardCap Global Equity I USD Acc | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 2 | |
| Brown Advisory Global Leaders C USD Acc | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 2 | |
| BNY Mellon Mlt-Asst Growth GBP Inc | 5 | 5 | 5 | Aggressive Allocation | No | 5 | 2 | |
| Janus Henderson Global Sust Eq E Inc GBP | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 2 | |
| Schroder ISF Hong Kong Eq C Acc HKD | 5 | 5 | 5 | Greater China Equity | No | 5 | 2 | |
| JPM Pacific Equity A (dist) USD | 5 | 5 | 5 | Asia Equity | No | 5 | 2 | |
| Pictet-Premium Brands I EUR | 5 | 5 | 5 | Consumer Goods & Services Sector Equity | No | 5 | 1 | |
| Morgan Stanley UK Global Brands I GBP | 5 | 5 | 5 | Global Equity Large Cap | No | 5 | 1 | |
| Liontrust Sust Fut Defesv Mgd 3 Net Inc | 5 | 5 | 5 | Cautious Allocation | Yes | 5 | 1 | |
| Liontrust Sust Fut Cau Mgd 3 Net Inc | 5 | 5 | 5 | Moderate Allocation | Yes | 5 | 1 | |
| Royal London Sustainable Mgd Gr C Acc | 5 | 5 | 5 | Cautious Allocation | Yes | 5 | 1 | |
| Legg Mason CB US Eq Sust Ldrs PR $Dis(A) | 5 | 5 | 5 | Responsible A | US Equity Large Cap Blend | Yes | 5 | 1 |
| Liontrust Sust Fut Managed Gr 3 Net Acc | 5 | 5 | 5 | Aggressive Allocation | Yes | 5 | 1 | |
| AI Stewardship Intl Eq UK Instl Acc | 5 | 5 | 5 | Global Equity Large Cap | Yes | 5 | 1 |
