Fund managers should take a bigger role in social issues facing Australia, according to Investment and Financial Services Association (IFSA) chief executive Lynn Ralph.
Ralph told last week’s IFSA conference in Brisbane that fund managers needed to take a stand on high profile social issues such as immigration and sustainable development as well as the traditional role in managing the financial future of Australians.
“We should be a strong voice on national issues and focus on the success of the wider industry as well as the country,” Ralph said.
Ralph said fund managers should also consider their role not simply as holding a stock but rather part of a company. They should use their powerful market influence to push for better corporate governance and social responsibility.
Ralph said fund managers should also place greater emphasis on being accountable to their clients.
“Dare I suggest it, we should consider unit holder meetings,” she said.
