December 2018

Country Ranking Trends Governance in the investible countries continued to improve during 2018, though at the very slow rate of 0.25% (about a quarter of historical rates). Six countries improved, while eleven countries deteriorated. The biggest improvements were in India and Indonesia, and those more than offset the mostly small deteriorations. Yellow Vests are Distracting […]

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Costco Wholesale Corporation

The 2018 annual proxy for this chain of members-only warehouse stores had the following proposals: Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote Board proposal to approve incentive plan, declassify the board, and remove supermajority requirements from bylaws Shareholder proposal on prison labor Magni voted as follows: Magni voted for and against […]

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Air Products and Chemicals

The annual proxy for this industrial gases company had the following proposals: Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote Magni for all proforma proposals: Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful […]

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Jacobs Engineering

The annual proxy for this services company had the following proposals: Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote Magni for all proforma proposals: Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion […]

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Intuit

The annual proxy for this business and financial software company had the following proposals: Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote Magni for all proforma proposals: Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with […]

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Intercontinental Hotels Group PLC

Intercontinental Hotels Group PLC, a British hospitality company, provided a special proxy. This proxy had two board proposals related to a share activity. The net impact of the resolutions is to consolidate the ownership structure and repurchase sufficient shares to complete the transactions without shareholder dilution. Magni voted for both proposals. Simplified ownership structures are […]

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BRF S.A.

BRF S.A., a Brazilian food company, provided a special proxy. This proxy had five board proposals to merge with a wholly-owned subsidiary (SHB). BRF is the only shareholder in SHB. The acquisition is priced at book value. There is an independent appraisal of SHB.  Magni voted for all of the proposals. BRF followed a good governance process in proposing and structuring the transaction. The transaction may improve corporate governance. Lastly, there does not appear to be any […]

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Magni Recognized for Innovation in the Islamic Economy

FOR IMMEDIATE RELEASE Minneapolis, MN, December 4, 2018 – Magni Global Asset Management LLC (Magni) announced today that it has been recognized for its contributions to the global Islamic economy. “We’re thrilled to be recognized for our dedication to Islamic finance,” says Kurt Lieberman, CEO.  “We strive to foster positive change through our broad country […]

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Magni CEO Kurt Lieberman Participates in Session at IsFin in Bahrain

FOR IMMEDIATE RELEASE Minneapolis, MN, December 3, 2018 – Magni Global Asset Management LLC (Magni) announced today that CEO Kurt Lieberman spoke at the annual IsFin (Islamic Finance) meeting. IsFin is the world’s leading advisory for emerging markets, Islamic Finance, economy and investments. The meeting was held November 28th at the Arcaptia building in Manama, […]

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Magni CEO Kurt Lieberman Moderates Discussion at World Islamic Banking Conference in Bahrain

FOR IMMEDIATE RELEASE Minneapolis, MN, December 3, 2018 – Magni Global Asset Management LLC (Magni) announced today that CEO Kurt Lieberman was again invited to speak at the annual World Islamic Banking Conference (WIBC). Now in its 25th year, WIBC is the foremost Islamic finance gathering. It provides key insights and supreme thought leadership from […]

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