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First State Super appoints Hermes EOS for stewardship services

Hermes Investment Management has today announced that its stewardship and engagement team, Hermes EOS, has been appointed by First State Super to provide engagement and public policy services for developed markets (excluding Australia).

With AUD90bn (£51bn) under management, First State Super is one of the largest superannuation funds in Australia and is the fourth Australian client for Hermes EOS, which will advise on behalf of £9bn of assets.

Dr. Hans-Christoph Hirt, Head of Hermes EOS, said: “With one of the largest and demonstrably effective stewardship resources in the world, Hermes EOS is looking forward to working with First State Super to engage with companies across developed markets. First State Super has a strong history of responsible investment and our highly skilled and experienced team will look to increase and protect the value of the companies it is invested in through impactful engagement.”

Liza McDonald, Head of Responsible Investment, First State Super commented: “As stewards of our members’ retirement savings, we have a duty to act in their best interests and to protect and grow the real value of their assets. A critical part of this is to engage with the companies in which we invest. We look forward to using the knowledge and experience that Hermes EOS will bring to our engagement programme across developed markets and to expanding our advocacy efforts.”

Hermes EOS is one of the world’s leading stewardship services, advising on £330.5bn[1] on behalf of its clients. In 2017, the Hermes EOS team engaged with 659 companies on 1,704 environmental, social, governance, strategy, risk and communication issues and objectives.