Shareholder Impact

Engagement methodology


Phitrust engages actively with companies in its portfolio with the aim to making progress in controversial areas and improving their governance, environmental and societal practices.


This engagemet is reflected in the dialogue with the directors of the listed companies and active participation in annual general meetings that may include the registration of resolutions on controversial issues. Phitrust believes in dialogue that allows for constructive collaboration with the directors of listed companies. The initiative process takes place every year in three stages, the first two stages not being known to the general public..

The selection of initiatives



Definition and revision of the principles adopted by the UCITS


Analysis of environmental, social and quality of governance strategies of portfolio companies


Proposal of one or more initiatives per company by the Fund Technical Committee

Presentation of initiatives to the companies



Sending a letter to the presidents of the portfolio companies


Meeting with the directors about the different initiatives proposed


Analysis of responses from directors on these proposals

Participation in the annual general meeting



Decision of the investors represented on the Board of the open-end investment company of the public shares to be implemented within the companies


Mobilisation of the investor community and publicity campaign about the project


Shaping the initiative in accordance with the legal provisions


Attending annual general meeting: presentation and voting on the resolution, written questions, oral questions


Phitrust encourages CAC 40 Companies to join the “Science Based Targets” initiative

Phitrust encourages CAC 40 Companies to join the “Science Based Targets” initiative

Phitrust, along with the investors of the Phitrust Active Investors France fund, has sent written questions to the executive boards of 34 companies listed on the CAC40 index in preparation of their 2018 Annual General Meetings, encouraging their participation in the Science Based Targets initiative.

2018: what is the mission for companies?

2018: what is the mission for companies?

The government has launched a mission on “business and general interest”. Jean-Dominique Senard and Nicole Notat have two months to submit their report containing proposals to redefine the role and missions of companies

2017, a milestone for shareholder engagement in France

2017, a milestone for shareholder engagement in France

Proxinvest published its 21st Report on General Meetings and Shareholder Activism. Since its founding in 1995, Proxinvest has never witnessed such a contentious proxy season in France.

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