Nearly two thirds of UK finance directors support proposals put forward in the Myners report, according to fund managers Barclays Global Investors.
About 70% of those polled also believed that fund managers should intervene more often and exercise voting rights.
According to BGI, finance directors considered costs, FRS 17, Myners’ report and bear markets as the big issues facing UK pension funds, dismissing socially responsible investing and stakeholder as priorities. More than 70% of those interviewed also agreed with Paul Myners’ view that fund managers should tackle corporate under-performance. Additionally, 75% agreed that managers should make greater use of their voting rights.
About 95% of respondents felt that trustee education is a good idea; only 12% felt that the fees for active funds are justified by the performance; and 62% agreed that more attention should be given to strategic asset allocation. *The survey had 76 responses, including finance directors from more than 25% of companies in the FTSE 100.
By Madhu Kalia
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