Old Mutual Investment Group has come first in the recently released Kigoda Responsible Investment Ranking 2017 for asset managers.
Kigoda Consulting, an independent consultancy specialising in environmental, social and governance issues affecting sustainable investment across sub-Saharan Africa, released its survey for the first time this year.
It uses the principles and practice recommendations of the Code for Responsible Investing in South Africa (Crisa) to assess whether the 10 largest asset managers have policy frameworks and governance structures in place to implement sustainable and responsible investment, and adequately to disclose information on their responsible investment performance. These 10 managers account for about two-thirds of total assets under management in South Africa by asset managers.
Kigoda’s Mike Davies commented: “The responsible investment ranking demonstrates that there are pockets of excellence among South Africa’s largest asset managers in the implementation of responsible investment practices. Most of the assessed asset managers have taken some steps to support responsible investment. However, there is still a significant amount of work to be done before the majority of these asset managers can claim to be meeting their Crisa commitments, and there is at least an element of ‘greenwashing’ among the asset managers with low scores in the ranking.”
Asset managers obtained a score out of 100. The top five were Old Mutual Investment Group (82), Investec Asset Management (77), Sanlam Investment Management (69), Allan Gray (53.5) and Stanlib Asset Management (44.5).