Glebe goes for engagementNovember 2002
Australia’s largest ethical investment fund manager has altered its investment policy to place greater emphasis on engagement with companies on social and environmental issues.
By changing its charter, Glebe Asset Management, which manages Aus$550million ($301m, £198m) worth of funds on a socially responsible investment basis, is now able to engage with companies, rather than simply to exclude ones that do not meet social and environmental criteria.
However, it will continue to exclude companies deemed to have interests in gambling, tobacco, alcohol, pornography, armaments and uranium mining.
The change will also allow it to raise corporate governance issues with companies.
According to a survey last year by the Australian Ethical Investment Association, Aus$1.3billion of assets are managed in socially responsible investment funds in Australia.
Glebe Asset Management, established in 1995, is a founding member of the Association for Sustainable and Responsible Investment in Asia.
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