Ethical Performance
inside intelligence for responsible business


Wellcome opts for engagement

September 2004

The UK’s largest charity by asset size has appointed Insight Investment to provide a shareholder engagement service on corporate responsibility and governance issues for its £3billion ($5.5bn) equity portfolio.

The Wellcome Trust, which funds research into human and animal health, said Insight will help to develop its governance policy, to engage with companies and to manage the voting of its shareholdings. Insight will ‘ensure our investment activities are aligned more closely with our charitable purpose,’ it said.

Gary Steinberg, the trust’s chief investment officer, added: ‘We believe that more effective activism will result in improved financial returns for the trust over the long-term.’ The trust’s equities are mostly those of FTSE 350 companies.

Insight, which manages £72bn of assets for institutional and retail clients, is the asset manager of HBOS bank.

Martin Currie, the Edinburgh-based investment management group, has engaged Ethical Investment Research Services to help develop its SRI approach to investments.

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