Engagement

Engagement is key to improving corporate behaviour over the long term. We use our corporate access, research capabilities and investment scale to promote change.

Ways we engage with companies

Through our engagement with companies we focus on isssues such as governance and remuneration, board composition, supply chain management, including modern slavery, environment and social issues. There are many ways we engage to facilitate positive change including:

 

Engagement themes

In addition to company specific themes, we’ve been focussing on five key themes for engagement.

Modern slavery

We do not tolerate modern slavery or human trafficking within our business and take a risk-based approach to managing our supply chain. 

Through our engagement, we aim to encourage better practices amongst our investee companies to increase transparency and disclosure regarding supply chain management. This should ensure systematic monitoring of human rights in company supply chains.   Our approach to combat slavery and human trafficking can be found here.

Voting

Voting is an essential tool for working with companies to help them pursue policies that lead to sustainable returns and increase value for a broad range of stakeholders.

SMSF Awards - Highly commended
Voting record 1 January 2020 to 31 December 2020.
In 2020 we voted at 3,828 shareholder meetings, voting against management in nearly a third of cases to protect the rights of investors.
Region Votes with management Votes against management** Abstain* Blocked Took no action*** Total
Americas 633 343 13 0 7 996
Asia 958 221 6 0 10 1195
Europe 270 308 7 33 70 688
Japan 207 103 0 0 0 310
MEA 28 16 0 0 0 44
Oceania 112 51 29 0 0 193
UK 339 44 12 3 3 402
Total 2547 1086 67 36 36 3828

Source: Fidelity International, 31st December 2020.
This information is distinct from the voting record disclosed by Fidelity Management & Research Co.
* Includes all meetings where Fidelity abstained or voted against management in respect of one or more resolutions.
** Includes a small number of meetings where Fidelity’s votes were rejected.

For more information on how the Australian registered managed investment schemes voted on each resolution in relation to Australian listed entities in the 12 months to 30 June 2020, please refer to our Proxy Voting page.

 

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