Australian Shareholders' Association (ASA) is an Australian

not-for-profit organisation A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. While not-for-profit organizations and non-profit organizations (NPO ...

which advocates for the rights of retail

shareholder A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the ...

s. Founded in 1960 in

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

, ASA provides educational resources and professional learning opportunities for its members, who are largely independent small-scale investors. ASA's most prominent public role, however, is in the research and publication of recommendations that members can use to inform their votes on such matters as executive pay and director re-elections. This role brought ASA under the scrutiny of an inquiry into the role of

proxy advisor A proxy firm (also a proxy advisor, proxy adviser, proxy voting agency, vote service provider or shareholder voting research provider or proxy voting advisory businesses (PVABs)) provides services to shareholders (in most cases an institutional inv ...

s launched by Australian

Treasurer A treasurer is a person responsible for the financial operations of a government, business, or other organization. Government The treasury of a country is the department responsible for the country's economy, finance and revenue. The treasure ...

Josh Frydenberg Joshua Anthony Frydenberg (; born 17 July 1971) is an Australian former politician who served as the treasurer of Australia and deputy leader of the Liberal Party from 2018 to 2022. He also served as a member of parliament (MP) for the divisi ...

in May 2021. ASA does not believe itself to be a proxy advisor, given its not-for-profit status, as well as the fact that its research is published as 'intentions' rather than recommendations. Most recently, ASA has been one of the primary advocates against a Federal Government proposal to loosen disclosure requirements for directors of public companies, on the basis of their belief that the proposal "threatens the rights of investors". ASA's funding comes from membership fees, as well as donations and sponsorships. Sponsors for its 2020 conference included controversial mining company

BHP BHP Group Limited, founded as the Broken Hill Proprietary Company, is an Australian multinational mining and metals corporation. BHP was established in August 1885 and is headquartered in Melbourne, Victoria. As of 2024, BHP was the world� ...

and investment fund provider

Fidelity International Fidelity International Ltd (FIL) is a company that provides investment management services including mutual funds, pension management and fund platforms to private and institutional investors. Fidelity International was originally established ...

Industry groups and committees

The ASA represents shareholder and member interests on the following industry groups and committees: *AASB Disclosure Initiative Project Advisory Panel *ASIC Consumer Advisory Panel (CAP) *ASIC Regional Liaison Committee *ASX Corporate Governance Council *ASX CHESS Replacement project *ATO Individual Stewardship Group *Business Reporting Leaders Forum (BRLF) *Corporate Reporting Users Forum *Security Registrars Association of Australia

Achievements

ASA claims the following achievements, among others: * advocating for regulatory reform, including the introduction of the 'two strikes rule', which requires non-managing directors of public companies to be immediately re-elected if two consecutive AGMs vote down their remuneration package * being the dominant voice at AGMs as the voice of retail shareholders * encouraging directors of public companies to reduce their board workload to reasonable levels, allowing them to focus on the boards on which they remain

Membership

As of the end of 2020, ASA had 5,001 members, up slightly from the end of 2019.

Leadership

ASA is led by CEO Rachel Waterhouse, and is overseen by a board of directors.

Board of directors

The board of directors is composed of: *Steven Mabb (2020- present; was appointed Chair 2022) *Michael Jackson *Carol Limmer *Richard Goldman *Julieanne Mills *Karl Schlobohm *Lelde Smits

Footnotes

{{Authority control Business organisations based in Australia Shareholders 1960 establishments in Australia Organizations established in 1960 Organisations based in Sydney Corporate governance in Australia