Media Release: Retail investors name Soul Patts and Future Generation as governance standouts
5 May 2026: The Australian Shareholders’ Association (ASA), drawing on the insights of its member and volunteer network, has recognised Washington H. Soul Pattinson and Company Ltd and Future Generation Australia Limited in its 2026 ASA Awards, highlighting listed companies that stood out to retail shareholders for governance and shareholder engagement during 2025.
The awards reflect ASA’s direct engagement with listed companies and the contribution of members and volunteers who assess company governance, communication and shareholder treatment from a retail investor perspective.
Washington H. Soul Pattinson and Company Ltd (“Soul Patts”) received the Enhanced Company Governance Award, while Future Generation Australia received the Most Effective Shareholder Communications Award.
ASA CEO Rachel Waterhouse said the awards matter because retail investors are company owners whose confidence, voting decisions and engagement help shape Australia’s capital markets.
“Australia has 7.7 million retail investors, and they are not passive observers. They are owners of the companies they invest in,” Ms Waterhouse said. “Retail shareholders care about how boards govern, how executives arerewarded, how companies explain performance, and whether investors are treated with respect. “These awards recognise companies that are doing the work to build trust with shareholders through better governance, clearer communication and more meaningful engagement.”
Washington H. Soul Pattinson and Company Ltd recognised for strengthened governance
Washington H. Soul Pattinson and Company Ltd (“Soul Patts”) received the Enhanced Company Governance Award for strengthening the quality and effectiveness of its governance.
ASA recognised the company’s combination with Brickworks as a significant governance development, removing a long-standing cross-shareholding structure and creating a simpler, more transparent investment vehicle for shareholders.
The change supports improved liquidity, a clearer picture of the company’s operations and strategy, and greater capacity for long-term value creation.
ASA also noted Soul Patts modernised remuneration framework, with long-term incentives linked to relative Total Shareholder Return, Net Asset Per Share Growth and Net Cash Flow from Investments Growth.
“This provides clearer alignment between executive reward, long-term performance and shareholder outcomes,” Ms Waterhouse said.
The judges also recognised Soul Patts approach to managing long-term risk and opportunity across its portfolio, including investments that support electrification, industrial transition and future economy growth.
“Together, these changes demonstratestronger governance, clearer shareholder alignment and a practical commitment to long-term performance,” Ms Waterhouse said.
Todd Barlow, Managing Director and Chief Executive Officer of Soul Patts, said: “Soul Patts has undergone significant change in recent years and we've worked hard to ensure our governance has remained best practice and purposeful. What hasn’t changed is our culture of putting shareholders first and our purpose of generating enduring success. It makes recognitions like this particularly meaningful, and the role of the ASA - in keeping retail shareholders informed and engaged - of great value to the wider market.”
Finalists: Washington H. Soul Pattinson and Company Ltd and Netwealth Group Limited.
Read more on the ASA website: https://www.australianshareholders.com.au/wp-content/uploads/2026/05/ASA-Awards-2026-Media-Release-.pdf