Asset managers can regain trust from clients through better transparency and reporting, according to a new survey by First State Investments.

Some 37% of respondents, who were asset owners, pension funds and asset managers, said that a high degree of transparency and reporting is the most important indicator of effective equity investor stewardship.

The report also revealed that investment performance metrics did not reflect effective long-term investment time frames. Some 33% of respondents said a three to five year rolling average benchmark index was the best measurement of investment performance.

When asked what would best enhance the effectiveness of engagement, 32% called for better alignment with investment performance. Just 8% said that voting against management was the best form of action. Another key finding was that a higher focus on environmental, social and governance (ESG) integration by asset managers is influenced by strong mandates from asset owners and the requirement for better long-term reporting.