CSC transfers stake in Regnan to Pendal

CSC has announced that it will cease to be a shareholder in the ESG (Environmental, Social and Governance) research, engagement and advisory business, Regnan. Remaining shareholder, Pendal (formerly BT Investment management) will move to full ownership.

CSC was a founding shareholder of Regnan, having provided seed funding and intellectual capital to start the enterprise in 2001. CSC’s ambition at that time was to establish an independent research house to provide transparency on long-horizon risks that it believed had the potential to impact financial outcomes over the lifecycle of its superannuation members. In this way, Regnan was a market leader in the provision of high-quality ESG research and constructive engagement between asset owners and corporate management teams.  

Over the decade since its inception, Regnan has been supported to become a respected and credible lead provider in the area of ESG research and Australian corporate engagement. In so doing, it has catalysed a much broader awareness of ESG not only in the Australian marketplace but also offshore, through collaboration with organisations such as the PRI.

To this end, CSC’s ambition as an incepting shareholder has been realised. ESG is now a mainstream consideration for institutional investors in Australia. This, in combination with Regnan’s now independent business means that it is the right time for CSC to support its transition onto an international distribution platform. CSC’s ongoing funding and corporate guidance is no longer required in this more mature phase of the business’s development.

CSC’s Chief Investment Officer, Alison Tarditi will step down as a Director of Regnan following transition of full ownership to Pendal.

As a pioneer of ESG awareness and engagement in Australia, CSC remains committed to an investment model that integrates analysis of these longer-horizon risks with traditional financial risks to manage and steward its member’s superannuation savings. 

CSC’s efforts in this regard have been recognised as world leading by investment governance and risk assessment agencies. CSC received a UN PRI innovation award in ESG analysis in 2012; was named as the only Australian fund on the Bretton-Woods II list of the world’s most responsible asset allocators in 2017-18; and was recognised by AsianInvestor for excellence as an institutional investor in 2018.

CSC considers that awareness of these long-horizon risks and their explicit management within the investment process are critical to underwriting wealth and thereby generating reliable incomes for our members throughout their retirement.
 
Media contact: Damon Whittock, CSC Corporate Affairs Manager; ph. 02 6275 7108; email. damon.whittock@csc.gov.au

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