F&C Asset Management has claimed to be the first fund manager to in-source the coordination of its proxy voting chain by going direct to its underlying proxy voting platform, rather than operating through a middleman. F&C have retained ADP Investor Communication Services, which is the leading provider of proxy voting services to custodian banks.
The company says this will enable F&C to gain direct control over execution of votes, as well as hand-pick research from a range of best-of-breed providers. The new approach will strengthen F&C’s position as a leading supplier of share voting and engagement services, it says.
“This is the fourth year that we have been exercising voting rights across all of our global holdings,” says Karina Litvack, Head of Governance and Socially Responsible Investment at F&C. “Active engagement of investee companies is a top priority for us, and with a team of 15 dedicated specialists, it’s time we took control of this process and managed it ourselves”.
“At the same time, this frees us up to source research from the best specialists we can find,” adds Litvack. “Our providers will include Board Analyst, GlassLewis, ISS, IVIS and Manifest.”
Research will provide data on each of the items on ballot agendas, such as the independence of directors, remuneration, capital issuance, related-party transactions, share re-purchase and acquisitions.