Funds Industry Report - Flipbook - Page 4
Ann Prendergast State Street Global Advisors
Ann Prendergast
Head of State Street Global
Advisors Ireland
State Street Global Advisors
As the investment management business of
State Street Corporation, State Street Global
Advisors is the world's third largest asset manager with €2.5 trillion in assets under management. Ann Prendergast heads the business in
Ireland with responsibility for all investment,
distribution and operations activities in Ireland
and European branches (France, Belgium, Italy
and Netherlands). The business in Ireland has
over 50 years’ experience managing investments for pension funds, charities, intermediaries and corporates and is one of State Street
Global Advisors’ investment centres.
The global asset management industry has
ties centers on the importance of effective, inde-
undergone considerable change over the past
pendent board leadership and we have provided
two decades, and it is continuing to evolve at a
specic guidance on governance structures that
rapid pace. At State Street Global Advisors, we are
enhance board effectiveness. We have also been
at the leading edge of this evolution, continually
especially focused on gender diversity for a
developing investment products that aim to help
simple reason – compelling research from the
our clients achieve their long-term return objec-
likes of MSCI, McKinsey and others connects
tives. But we are also increasingly engaged in
greater gender diversity with better company
proactively using our voice, our vote, and our
performance. Gender-diverse boards tend to pay
values to make a difference around the globe.
more attention to risk management and are less
Diversity & Stewardship
inclined towards groupthink. The bottom line is
State Street Global Advisors, as one of the world’s
ating positive returns to investors over the long
largest index managers, is invested in over 10,000
run.
that board make-up has a real bearing on gener-
listed companies. As providers of quasi-permanent capital, that makes us the quintessential
But progress has been slow – in 2017, one in
long-term investor. And as stewards of our clients’
four companies in the Russell 3000 Index did
assets, we have developed active engagement
not have a woman on their board. And, for
programs across environmental, social and
nearly 6in10 that did, less than 15% of their
governance issues that might impact long-term
returns. A focus of our asset stewardship activi-
board members were women. In Ireland,
female directors account for approximately
20% of board positions in ISEQ 20 companies,
3