Qubec’s Gestion Férique, the manager of the Férique Funds has updated its Responsible Investment Proxy Voting Policy to ensure it addresses its investors’ current concerns, the company said Wednesday.

Férique is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families.

In April 2006, Gestion Férique adopted an investment policy that harmonizes with the fundamental values of the engineering profession, and that evolves according to principles established by the most reputable organizations in the field, including the Shareholder Association for Research and Education and the Canadian Coalition for Good Governance. The policy is based on long-term profitability, accountability and transparency, Férique says.

“With the many changes seen in the area of governance, particularly in terms of increased accountability for business leaders and the many environmental challenges, we felt it appropriate to re-examine each clause of our policy and make the changes necessary,” says Fabienne Lacoste, executive director of Gestion Férique.

“Every day, engineers have to take into account the impact of their work on the environment, health and the property of others. So it was essential that we offer them a policy that would enable them to apply these same principles of governance to their investments,” says Marcel Vézina, president of the Responsible Investment Committee.

“The exercise of proxy voting rights enables businesses to update their codes of conduct to take ESG (environmental, social and governance) concerns into account. We believe that this is a proactive and constructive collective force for change,” concludes Lacoste.

Férique Funds have more than $1.2 billion in assets under management and nearly 23,000 clients.

IE