Investor-Corporate Engagement | Article

What Investors Can Learn from a Company’s Shareholder Composition

25 July 2022 - For companies, cultivating a base of longer-term shareholders allows managers to refocus their strategy on the future. As expected, evidence shows having the support of long-term shareholders provides a buffer against being derailed by short-term shareholders and activists.

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Long-term Model Mandate

Incentive Alignment | Toolkit

Long-Term Model for Institutional Investment Mandates

19 July 2022 - This matrix provides a menu of key contract provisions for mandates. We compare typical provisions, which tend to reflect a short-term mindset, to those promoting a longer-term approach, and offer ideas for exploratory provisions. The provisions are relevant for separately managed accounts and commingled funds, with unique provisions described for the latter.

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Lori Heinel State Street

Podcast

Going Long Podcast: Lori Heinel, State Street Global Advisors

5 July 2022 - “It is a very delicate balance – where do you cross the line from an issue that is actually material to long-term investment performance and something that might be more political?”

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Investor-Corporate Engagement, Strategy | Report

Sustainability or Strategy: Bridging the Gap Between Climate Change and Long-term Value Creation

31 May 2022 - New research suggests that companies could do more to bridge the gap between their climate change approach and their long-term value creation strategies.

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Strategy | Article

The New Buybacks Playing Field

15 June 2022 - Buybacks are a recurrent topic of controversy, especially as guidelines seem to shift year to year and differ from country to country. In the US, the Biden administration put forth a new proposal, upping the ante after last year’s proposed 1% tax on buybacks (intended to raise billions in tax revenue). The White House’s most recent proposal would prevent executives from selling their shares for three years after repurchasing stock, in the hopes that this will quash the incentive to repurchase shares in the first place.

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We Drive Change Through a Focus on Key Areas

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Boards of directors as the key to long-term value creation

Strong governance provides the foundation for success.

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Incentives to support long-term goals

Alignment of incentives over time and across the investment value chain is critical to future outperformance.

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Investor-corporate engagement

Engagement between companies and their shareholders provides mutual understanding and confidence to pursue shared goals.

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Strategies that drive long-term performance

Strategies around talent, innovation, capital allocation, and risk lead to success.

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Policy environment

Policy and regulation shapes global discourse prompts market behaviors to shift toward the long term.

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Vista Equity Partners
Bloomberg
GIC
MFS Investment Management
EY
CDPQ
J.P. Morgan
Future Fund

2022 Panmure House Prize

The Panmure House Prize is an annual award of $75,000 for research into long-term investing and its relationship with innovation. The Prize is awarded to emerging leaders in academia who are planning to produce outstanding research on the topic of the long-term funding of innovation in the spirit of Adam Smith. Prize winners will utilise the award to conduct the proposed research from their home institution, working to publicise and publish their findings widely within peer-reviewed journals, national and international press, as well as curating first-look updates and interactive sessions here on the Panmure House website.

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