Big divide in fund manager voting
The TUC is publishing its tenth Fund Manager Voting Survey today. Once again the Survey shows just how much fund managers vary in their approach to voting at the AGMs of companies whose shares they hold.
Pension fund members and trustees can use the Survey to see how their fund manager compares to others in terms of their approach to voting and engagement.
At one end of the spectrum, three respondents supported over 85% of management proposals included in the Survey; at the other end of the spectrum, three respondents supported less than 25%.
On remuneration reports, the divide is even starker: three respondents supported over 80% of those included in the Survey, while six supported less than 20%.
The message of the report is clear: when it comes to voting and engagement, it matters who your fund manager is.