RESPONSIBLE INVESTMENT GUIDELINES
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INTRODUCTION
The following document outlines the Responsible Investment Guidelines used by the New
Brunswick Investment Management Corporation (NBIMC) in executing its' ownership
responsibilities with both public and private investments.
These guidelines include direction in terms of proxy voting procedures and guidance
on socially responsible investment issues. The guidelines are the responsibility of
the President and have been formulated with the input of a cross company working group
and the NBIMC Board of Directors.
In all cases these guidelines are based on the following two objectives that form the
basis of each of the investment policies for our funds under management:
- Maximize risk adjusted investment returns, and
- Protect accumulated assets.
Investment policies for the Pension Plans under our management directly indicate that
the voting rights on shares held by NBIMC shall be exercised according to these
objectives. The Board of Directors also delegates these voting rights to the President
of NBIMC to fulfill. The following guidelines have therefore been produced to further
outline how this responsibility will be carried out and accounted for.
As a long term investor, NBIMC is very interested in enhancing shareholder value for the
benefit of our funds under management. Good corporate governance is well recognized as
contributing to better corporate performance and long-term investment returns.
This interest is shared across a number of peer institutional pension fund managers, and
is manifested in a number of industry groups and associations. NBIMC has been an active
member in both the Pension Investment Association of Canada (PIAC) and the Canadian
Coalition for Good Governance (CCGG). Both of these organizations act as an excellent
resource and advocate for governance guidelines and are utilized by NBIMC to help with
our activities and direction in corporate governance and proxy voting guidelines.
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