Engagement is one of the three components of stewardship alongside (more or less regular) dialogue with issuers and voting policy . Engagement is core, accessible to all types of investors, whether active or passive and oriented short term (hedge fund) or long term (long only, pension fund). The equity investor, the shareholder, is naturally the most legitimate to practice engagement. However, the debt investor, the creditor, can also be involved because the objectives and practices of engagement can come together. In all cases, it is a key practice of the long-term oriented active investor ; to be distinguished from the more short-term oriented activist investor .