Investor Stewardship: Fiduciary Duties and the Spectrum of Super Fund Engagement

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Date/Time

Date(s) - 25/08/15
1:00am - 11:30am

Location

ACFS/Finsia Officer
L46, Rialto South Tower, 525 Collins Street


Presenter: Dr. Anna Tilba, Newcastle University Business School, UK
Lecturer in Strategy and Corporate Governance
Director of Postgraduate Taught Programmes

A critical issue for the future growth of institutional investor stewardship is whether it is compatible with the fiduciary duties of super fund trustees.

This presentation examines how trustees interpret their fiduciary duties and how these interpretations shape super fund approaches to corporate stewardship and engagement.

Using the data from thirty-five in-depth, semi-structured interviews with super fund trustees, executives, investment intermediaries and a series of round-table discussions with super experts, this study reveals that trustees understand and enact their fiduciary duties in a variety of ways, thereby underpinning the intensity and methods of engagement.

The study has significant policy implications in that it clarifies how far su[er funds may take into account factors such as environmental and social impact, as well as ethical and corporate governance standards within their investment, as envisaged by The Kay Review of 2012.

About the speaker:

Dr. Anna Tilba is a researcher and a Lecturer in Strategy and Corporate Governance and a Director of Postgraduate Taught Programmes at the Newcastle University Business School. She joined NUBS from the University of Liverpool Management School where she obtained her PhD in corporate governance and where she was teaching Strategy both at undergraduate and postgraduate level. Her research interests include pension fund investment, financial intermediation and networks, accountability, corporate governance and investor engagement. Anna has an emerging record of publications in top tier academic journals. She also reviews papers for such scholarly journals as Corporate Governance: An International Review, Organization Studies, European Management Review, Business History and her papers appear at various international conferences.

Most recently Anna has been a member of the Advisory Committee on Fiduciary Duties of Investment Intermediaries for the Law Commission. The Consultation Paper on Fiduciary Duties is commissioned by the Department for Business, Innovation and Skills (BIS) and the Department for Work and Pensions (DWP) and arises from the Kay Review of UK Equity Markets and Long-Term Decision-Making.