Having broadened and deepened its fixed income capabilities significantly over many years, AllianzGI is now taking the natural next step in the evolution of its fixed income offering by bringing its capabilities into an integrated, global structure.
Proxy voting record highlights AllianzGI’s commitment to being an active, engaged investor
Allianz Global Investors has today published analysis of how it voted on nearly 100,000 shareholder and management proposals in 2019.
Active stewardship core to the firm’s values
AllianzGI demonstrates strong support for shareholder resolutions on environmental and climate related topics globally
AllianzGI takes its role as a steward of client assets very seriously, believing that active, responsible ownership can effect positive change at the company level. As well as engaging actively with the businesses it owns, AllianzGI fulfils its fiduciary responsibilities to its clients by exercising voting rights on behalf of them during shareholder meetings. This allows us to have a say on some of the most important issues affecting wider society and the companies we are invested in, including compensation, director related issues, climate change and appointment of external auditors.
During 2019, AllianzGI participated in 9,532 (2018: 8,535) shareholder meetings and voted against, withheld or abstained from at least one agenda item at 77% (2018: 75%) of all meetings globally. It opposed 24% (2018: 24%) of all resolutions globally. These figures reflect AllianzGI’s highly active and globally consistent approach to stewardship and a willingness to vote against proposals that do not meet its expectations of investee companies as well as fulfilling its duty to act in the interests of clients by considering each proposal on merit.
Source: AllianzGI proxy voting data.
Commenting, Eugenia Unanyants-Jackson, Global Head of ESG Research at Allianz Global Investors, said:
“Proxy voting is a key part of the fiduciary responsibility we have to our clients and a core part of Allianz Global Investors’ stewardship process. We see active participation in shareholder meetings of the companies we invest in as a form of engagement, and an opportunity to communicate with company management, other investors and the market."
“AllianzGI recognizes that voting power comes with responsibility and we actively undertake and encourage constructive engagement with investee companies. At the same time, we use our voting power to inform companies of our views and expectations, and to protect and advance the interests of our clients, which means that we are prepared to vote against management as and when necessary to achieve these objectives.”
As an active, engaged investor, sustainability is at the heart of AllianzGI’s investment proposition. AllianzGI believes that sustainable investing can generate positive performance not just for our clients, but for the community at large.
With 20 years of sustainable investing experience, AllianzGI has itself been carbon neutral since 2012 and is part of Allianz SE, a sustainability leader.
To read the press release, including more detail on AllianzGI’s proxy voting record, click here.
When fears of the new coronavirus seized hold of markets in early March, already low government-bond yields fell to record levels amid a historic “flight to quality”. Given the impending global recession, government bonds will likely continue to be attractive for now – although their yields will be low and liquidity concerns will make them volatile. But over the long term, we favour spread products such as investment-grade and high-yield corporate bonds.
We expect the US fed funds rate to remain low and possibly move lower, but we don’t think these official rates will reach negative territory. However, market forces could push Treasury yields below zero.
The coronavirus has added complexity to the economic outlook and made a global recession all but certain; in response, investors have flocked to the relative “safety” of government bonds
Government bonds are more attractive than corporate bonds and other “spread products” in the immediate future; however, we prefer spread products over a longer time horizon
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