View more on these topics

Myners wants company voting rethink to aid shareholders

A new report from Paul Myners has recommended that company voting should be integrated fully into the investment process.

The report was commissioned by the shareholder voting working party, an organisation involving the AITC, the ABI, the IMA and the NAPF aimed at providing a better system of voting for shareholders in the UK.

Myners&#39 recommendations are not binding on the Treasury but the working party says it hopes its findings will persuade the Government to implement changes.

The AITC says it agrees with the report, saying that shareholder voting is a crucial element in the drive to improve corporate performance.

The AITC says it needs to ensure that its members are able to play a part in making the corporate voting system easier.

Director general Daniel Godfrey says good corporate governance combined with active and responsible shareholder stewardship will contribute to improved corporate performance.

The TUC agrees with the report&#39s emphasis on giving pension funds a more active role in invested companies&#39 AGMs but it believes the process should be taken further.

The TUC says it thinks that institutional investors should be required to disclose publicly how they have voted.

Another area that the TUC thinks should be further explored is pooled and other collective investment vehicles, where it suggests that clients are unable to make use of their own voting policy.

General secretary Brendan Barber says: “Pension fund trustees have a responsibility to hold managers to account for votes cast in AGMs and to ensure that voting policies are implemented.

“Voting is a service issue and if trustees are not happy with the service being provided, they should be prepared to look elsewhere.”


Skills Council accused of dumbing down tests

The Financial Services Skills Council is believed to be planning an inter-mediate exam between FPC and AFPC based on multiple-choice questions, prompting fears of “dumbing down” ahead of next week&#39s examination review update. The FSSC is scheduled to unveil its plans to move from approved to appropriate examinations and it is believed that it will […]

Bill may not achieve key objective of reform – ACA

The Association of Consulting Actuaries is concerned that the key proposals in the Pensions Bill will not meet the objective of greater employer pension provision. It says it is worried about the cost of pitching initial Pension Protection Fund benefits too high, particularly if the risk based levy is delayed in its introduction. Chairman Gordon […]

Acorns and oaks for First State fund

First State Investments&#39 global resources fund has grown to £32m since its launch in October as UK investors seek similar returns to those generated by the highly-rated version offered by its Australian parent. The UK-registered fund&#39s unit price has shown a good rise since launch, growing from £1 in October to £1.15 at the end […]

GE Life – Capital Secure Investment Plan

Type: Capital-protected bond Aim: Growth linked to the performance of the FTSE 100 and Halifax House Price indices Minimum-maximum investment: £7,000-£1m, Isa/Pep transfers £3,000 Term: Five years Return: Up to 100% growth in the FTSE 100 and Halifax House Price Indices Guarantee: Original capital returned in full regardless of performance of indices Closing date: May […]


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