30 Jul 2015

Investors aim to keep listed firms honest

11:41 am on 30 July 2015

A group of institutional investors is aiming to keep listed firms honest by making sure their rules and processes are open and fair, and ensure their decisions can be accounted for.

sharemarket board

Photo: 123RF

The Corporate Governance Forum - which includes ACC, Harbour Asset Management, the NZ Superannuation Fund and Milford Asset Management - aims to improve corporate governance in New Zealand companies.

The group manage equities worth about $10 billion in total, or more than 15 percent of the equity market.

The Forum's chair, Anne-Maree O'Connor, said best practice corporate governance would help lift a company's performance and was essential to the long term health of the capital market.

She said its guidelines include lessons from overseas.

Ms O'Connor said the Forum would tend to work behind the scenes with company boards.