oxford-study-pdf

To date, active ownership has achieved a great deal,and this is likely to continue the more investors engage.Companies such as Hermes EOS, F&C, and Robeco offerattractive active ownership services enabling investors tojoin forces and set a common agenda and priorities, whilethe PRI clearing house 175 offers a platform for collaborativeengagements with regard to priority themes.Successful engagements leadto alphas of 7.1% in the yearfollowing the engagement.Dimson, Karakas, and Li, 2013Active ownership is a powerful tool. However, in its currentform, it lacks the structural support of a key stakeholdergroup – the customer of the invested companies. In ourview, the next step in the evolution of active ownership is toinclude the ultimate beneficiaries of institutional investors,who are at the same time the ultimate consumers of thegoods and services of the invested companies, into theagenda and priority setting process.175 More information on the UN PRI’s clearing house can be found here: http://www.unpri.org/areas-of-work/clearinghouse/43