AMP Capital: Active ownership and engagement

NGS Super holds an investment in AMP Limited. Recent press regarding the promotion of Boe Pahari, who has a past history of sexual harassment in the workplace, has triggered action under the Gender Equality objective within the Fund’s Active ownership and engagement policy. Our objective is to promote gender equality, diversity and inclusion wherever possible as we believe this positively impacts risk-adjusted investment returns.

As an active owner and an investor with a financial interest in a company, we have a right and responsibility to hold the company accountable and influence it to improve outcomes.

Upon learning of this issue, NGS Super has sought an opportunity to engage with AMP to:

1. gain an understanding of the allegations and events which have transpired
2. understand the considerations of the Board in promoting Boe Pahari, and
3. get a sense of the culture at AMP.

It is our expectation that all companies have the appropriate checks and balances in place to prevent, address and appropriately respond to sexual harassment. This is an important element in ensuring and promoting gender equality, something which is very important to NGS Super with so many women members as well as being necessary to provide risk-adjusted investment returns. Sexual harassment, especially in the workplace, should not be tolerated, accepted or excused.

We will continue to collaboratively engage with AMP and encourage our investment managers to do the same to ensure appropriate action is taken in relation to this issue.