Ten years after SA's largest fund manager, the Public Investment Corporation, shook up the investment community by disclosing details of how it votes at company annual shareholder meetings, Sanlam Investment Managers (SIM) has finally fallen into line with what’s become the industry standard at a time when disclosure requirements are set to be beefed up. SIM, which manages over R400bn in investments, is one of the largest asset managers in the country. All of its major competitors — including Allan Gray, Coronation, Investec, Old Mutual and Stanlib — have been disclosing voting details for years. SIM is a signatory of the Code for Responsible Investing in SA (Crisa), which was set up in 2012 to create an effective governance framework for institutional investors. Governance of the powerful investment institutions has come under the spotlight following the Steinhoff scandal, which resulted in the destruction of R200bn of investment value and caused reputational damage to many of the ...

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