Wellington Global Stewards Fund Five-Year Report

This document is a five-year report for the Wellington Global Stewards Fund, detailing the fund's objectives, engagement highlights, and key developments since its inception. The report outlines the fund's aim to outperform global equity markets by investing in superior businesses that demonstrate strong stewardship and sustainable practices. It emphasizes the importance of continuous engagement with portfolio companies to ensure accountability and responsiveness to long-term challenges. The report discusses various engagement topics, including supply chain management, environmental stewardship, talent and culture, and leadership transitions. Specific case studies illustrate how companies like Michelin and Inditex are addressing sourcing risks and modern slavery concerns in their supply chains. Additionally, the report highlights the significance of adapting to climate change and achieving net-zero emissions by 2050, showcasing the fund's commitment to responsible investment practices and stakeholder engagement. Overall, it reflects the fund's dedication to long-term value creation and sustainable outcomes for investors.