The Challenger small caps fund sold down its shareholding in IWL last week from 7.43 per cent to 6.33 per cent.
The latest move, announced to the ASX last week, caps off a busy month for Challenger, which included 10 other changes to its substantial shareholdings in various companies – seven decreases and three increases. In its presentation to institutions last month, IWL noted Challenger was one of its major institutional supporters and said it owned 8 per cent of the company. IWL also confirmed Susan Thomas as its new independent non-executive director last week, replacing Colin Scully who recently resigned the post.
Australian super funds’ collaboration with their British counterparts to change the UK policy setting is an engagement effort the first of its kind. However, as the global pension industry and financial markets become increasingly entwined, it certainly won’t be the last. IFM Investors’ David Whiteley outlines its global engagement ambitions on behalf of super funds.
Darcy SongOctober 14, 2024
