How three RRI-topping fund groups voted on climate

Top 25 funds in this month’s Responsible Ratings Index

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:

NameRRIMorningstar Sustainability RatingMSCISquare MileGlobal CategorySustainable Investment - OverallMorningstar Rating OverallFund Size £bn
Nordea 1 - Global Climate & Envir BI EUR555Global Equity Mid/Small CapYes58
Pictet-Security I USD555Global Equity Large CapYes56
Nordea 1 - Alpha 15 MA Fd BI EUR555MultialternativeYes54
Royal London Sustainable Div C Inc555Moderate AllocationYes53
Royal London Sustainable Leaders A Inc555UK Equity Large CapYes53
Royal London Sustainable World A Inc555Responsible AAggressive AllocationYes53
Brown Advisory US Sust Gr USD C Acc555US Equity Large Cap GrowthYes53
Liontrust Sust Fut Mgd 3 Net Inc555Aggressive AllocationYes53
Robeco Sust Global Stars Eqs Fd EUR555Global Equity Large CapYes53
Schroder ISF Glbl Sust Gr C Acc USD555Global Equity Large CapYes53
Rathbone Ethical Bond R Acc555Responsible ASterling Fixed IncomeYes52
GuardCap Global Equity I USD Acc555Global Equity Large CapYes52
Brown Advisory Global Leaders C USD Acc555Global Equity Large CapYes52
BNY Mellon Mlt-Asst Growth GBP Inc555Aggressive AllocationNo52
Janus Henderson Global Sust Eq E Inc GBP555Global Equity Large CapYes52
Schroder ISF Hong Kong Eq C Acc HKD555Greater China EquityNo52
JPM Pacific Equity A (dist) USD555Asia EquityNo52
Pictet-Premium Brands I EUR555Consumer Goods & Services Sector EquityNo51
Morgan Stanley UK Global Brands I GBP555Global Equity Large CapNo51
Liontrust Sust Fut Defesv Mgd 3 Net Inc555Cautious AllocationYes51
Liontrust Sust Fut Cau Mgd 3 Net Inc555Moderate AllocationYes51
Royal London Sustainable Mgd Gr C Acc555Cautious AllocationYes51
Legg Mason CB US Eq Sust Ldrs PR $Dis(A)555Responsible AUS Equity Large Cap BlendYes51
Liontrust Sust Fut Managed Gr 3 Net Acc555Aggressive AllocationYes51
AI Stewardship Intl Eq UK Instl Acc555Global Equity Large CapYes51