Application of King IV, Principle 17 – institutional investors
Principle 17 of the King Report on Corporate Governance for South Africa 2016 (King IV) recommends that the governing body of an institutional investor organisation should ensure that responsible investment is practiced by the organisation to promote good governance and the creation of value by the companies in which it invests.
In order to apply Principle 17, King IV recommends that the governing body should approve policy that articulates its direction on responsible investing. This policy should provide for the adoption of a recognised responsible investment code, principles and practices.
Absa Asset Management (Pty) Ltd Reg. No. 1997/017903/07 and Absa Alternative Asset Management (Pty) Ltd (AAM), Reg. No. 1999/027973/07 are signatories to the UN Principles of Responsible investing (UN PRI) and subscribes to the Code for Responsible Investing in South Africa (CRISA) which is based on the UN PRI. By subscribing to CRISA we commit to abide by its principles.
Our application of the CRISA principles are guided by two main policies, listed below:
(i) Responsible Investing, and
(ii) Proxy Voting Policy and Procedure (including mandates).
In addition to the application of the above policies, we engage directly with our investee companies from time to time on a range of matters that affect or have the potential to affect our investments.
Authorised Financial Service Providers’ Registered numbers 522, 524 and 22877.
Absa Fund Managers Limited (AFM) Reg. No. 1991/000881/07 is a registered Collective Investment Scheme Manager and a full member of the Association of Savings and Investments South Africa (ASISA). Trustee: FirstRand Bank Limited RMB, 3 Merchant Place, Ground Floor, Cnr Fredman and Gwen Streets, Sandton, 2196. Absa Unit Trusts are Collective Investment Schemes in Securities. Latest terms and conditions and the minimum disclosure documents are available on the website.
Absa Investment Management Services (AIMS) Reg. No. 1980/002425/07, AIMS is a financial services provider (“FSP”), authorised in terms of FAIS, and are further authorised as an administrative and discretionary FSP. Details of the specific categories of licences in respect of which we have been approved, and the investments in respect of which we may provide financial services are available from us upon request.
Absa Multi Management (AMM), a division of Absa Investment Management Services (Pty) Ltd (AIMS), Reg. No. 1980/002425/07.
Absa Asset Management (Pty) Ltd (ABAM) Reg. No. 1997/017903/07.
Absa Alternative Asset Management (Pty) Ltd (AAM), Reg. No.1999/027973/07.
All these businesses form part of the Wealth, Investment Management and Insurance business.