Manifest, the UK proxy voting agency, says the average number of eligible votes cast by shareholders at AGM of FTSE-100 companies has risen from 50.61 per cent to 52.1 per cent in the last year. This is well below the 60 per cent target set by the government, and occurred despite agreement between major shareholders on a new code of practice that obliges them to vote whenever possible. One explanation for the slow progress is the relatively high proportion of the UK equity market held by overseas investors (32 per cent), who tend not to vote.
Proxy Voting Records Of UK Institutions Failing To Improve, Says Manifest
Manifest, the UK proxy voting agency, says the average number of eligible votes cast by shareholders at AGM of FTSE 100 companies has risen from 50.61 per cent to 52.1 per cent in the last year. This is well below
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