UK - Fund managers which neglect their shareholder voting rights have come under fire from corporate governance experts.
Isis Asset Management believes these managers should seek advice from others who are “more active”.
Corporate governance director Richard Singleton said: “There are managers who essentially ride on the work of others who are active. They say that because they are small, they are not going to have much impact and are happy for others to put the effort in.”
But the managing director of proxy voting agency Manifest Information Systems, Sarah Wilson, insists that no votes should simply go to waste.She explained: “Changes are based on the number of votes counted; everyone needs to put their votes in on these issues for it to have maximum impact.”
Insight Investment’s joint head of UK equities, William Claxton-Smith, has offered to help fund managers who lack experience on corporate governance.
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Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.