View more on these topics

BlackRock hands shareholders director voting rights


BlackRock has handed shareholders the ability to nominate directors to its board, after backing the same rights on investee companies.

The world’s largest asset manager will now allow shareholders, or groups of up to 20 shareholders, that have owned more than 3 per cent of its stock for more than three years the ability to nominate individuals for election to the board, granting so-called ‘proxy access’.

BlackRock founder and chief executive Larry Fink says: “We continually evaluate our governance policies to ensure they reflect the latest best practices, and we are pleased to propose proxy access for shareholders with true long-term economic ownership.”

The asset manager has backed such rights on the companies in which it invests for some time, but has until now not afforded its shareholders the same rights.

BlackRock will only allow shareholders to nominate up to 25 per cent of the board. The asset manager has also placed a “economic ownership” caveat on the proxy access, meaning investors have to have “full economic interest” in the shares, ruling out those shorting the stock.

The practice has been growing in popularity, with data firm ISS predicting that by the next proxy season 6 per cent of S&P 500 firms will have proxy access rules in place.

BlackRock’s proposal requires shareholder approval and will be voted on at the AGM in May.



BlackRock pairs with Tavistock to launch model portfolios

BlackRock has paired up with Tavistock Investments to launch blended passive and active portfolios. The eight products will build on the existing Tavistock Acumen Portfolios, which use passives, to blend them with actively-managed funds. The discretionary fund management fee for the portfolios will be 0.125 per cent plus VAT. The funds will be volatility targeted, […]


BlackRock acquires robo-advice firm

Asset manager BlackRock has acquired US digital advice firm FutureAdvisor as it targets expanding into robo-advice. The deal, for an undisclosed sum, will allow BlackRock to offer corporate clients personalised advice, portfolio management and web and mobile apps to clients. BlackRock says the acquisition will allow it to help financial institutions grow their own advice […]

My three big calls: BlackRock’s Justin Christofel

Investors in this fund are looking for attractive income but are unwilling to take significant risk in order to achieve this. With this in mind, we have to concentrate not only on the reward but also the risk, both in terms of volatility and drawdown. We tend to be cautious and avoid asset classes that […]


BlackRock cuts passive fund fees

BlackRock has cut the charges on five of its tracker funds, slashing fees by half for many of its products. The asset manager has reduced the fees on funds within the BlackRock Collective Investment Funds, selecting the core funds for the charges cut. A BlackRock spokesman says: “We picked key exposures that have the most […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm