T. Rowe Price Strengthens Commitment to Stewardship Practices with RIAA Membership
Global investment firm T. Rowe Price today announces its joining of the Responsible Investment Association Australasia (RIAA), the largest industry body that champions responsible investing and a sustainable financial system in Australia and New Zealand.
“We are delighted to begin our partnership with RIAA to work on important responsible investment issues that are top of mind for our clients,” said Darren Hall, Head of Distribution for Australia and New Zealand of T. Rowe Price. “As part of our firmwide commitment to stewardship practices, T. Rowe Price is actively involved in a number of industry associations and initiatives relating to responsible investment globally. Joining RIAA formalises our engagement with our clients and the local investment community to further promote responsible, ethical and impact investing.”
“We are really pleased to welcome T. Rowe Price as a RIAA member, further signaling the firm’s commitment to responsible investment. It’s an important and exciting time with responsible investing at an all-time high, and we look forward to working with T. Rowe Price to further develop the market across Australasia,” said Simon O’Connor, RIAA CEO.
T. Rowe Price has been integrating Environmental, Social and Governance (ESG) factors into investment decision making to identify well-managed companies that are leaders in their industries, that are more forward-thinking, better at anticipating and mitigating risk, and focused on the long-term. This is done through the firm’s proprietary research model called the Responsible Investing Indicator Model (“RIIM”) that builds an environmental social and ethical profile of more than 14,000 corporate entities globally including in Australian and New Zealand.
“Our investment team believes that, in a post-COVID world, understanding companies’ long-term sustainability has become more important than ever in choosing businesses that can achieve long-term success. This is aligned with RIAA’s approach to promote responsible investing and encourage investors to actively choose responsible savings and investments options,” Hall said. “In keeping with our mission to help clients reach their long-term financial goals, we look forward to being an active participant in RIAA’s working groups and events which help educate the market on ESG topics.”
T. Rowe Price currently offers a global range of investment strategies to institutional clients in Australia and New Zealand as well as five Australian Unit Trusts and a Separately Managed Accounts (SMA) to retail and advisor-directed investors in Australia. ESG considerations are incorporated in the investment decision making of these portfolios by leveraging the firm’s proprietary RIIM model.
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (troweprice.com) is a global investment management organization with US$1.31 trillion in assets under management1 as of September 30, 2020. The organization provides a broad array of mutual funds, subadvisor services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit troweprice.com.
ABOUT THE RESPONSIBLE INVESTMENT ASSOCIATION AUSTRALASIA (RIAA)
The Responsible Investment Association Australasia (RIAA) champions responsible investing and a sustainable financial system in Australia and New Zealand. RIAA is dedicated to ensuring capital is aligned with achieving a healthy society, environment and economy. With over 350 members managing more than AUD$9 trillion in assets globally, RIAA is the largest and most active network of people and organisations engaged in responsible, ethical and impact investing across Australia and New Zealand.
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