How does your firm manage voting rights?

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valuequest

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Does your firm employ consultants to advise it on voting the shares under its control? Does the firm employ more than one consultant? How does the firm select consultants? Does the firm ALWAYS vote shares as recommended?

Does the firm make some or all of its voting decisions internally? Who are the people who perform this function and how do they go about doing this?

So that we may interpret your response, please also specify what type of firm that you describe (i.e. investment company, endowment/pension fund, trust, etc.)

Those with significant portfolio management experience are welcome to reframe or embellish the question(s).
 
its taken very seriously here
we have one person doing nothing else

Does your firm employ consultants to advise it on voting the shares under its control?
yes, ISS


Does the firm employ more than one consultant? dunno, might depend on region
How does the firm select consultants? dunno
Does the firm ALWAYS vote shares as recommended? no, its a base for discussion/reflection only

Does the firm make some or all of its voting decisions internally? Who are the people who perform this function and how do they go about doing this?
one experienced person full time
analysts, PMs and SRI team informed about every vote
in case of probs: consultation with the IR first (meetings or conf call), if escalating conf call if management ie CFO, we try to avoid conflicts and try to understand y certain resolutions are formulated the way they are
slightest prob: a committee with PM, analyst, SRI and if necessary CIO and above decides

So that we may interpret your response, please also specify what type of firm that you describe (i.e. investment company, endowment/pension fund, trust, etc.)

AM arm for large French retail bank - about 500bn+ of AUM, in mutual funds and institutional

Those with significant portfolio management experience are welcome to reframe or embellish the question(s).

hope this helps
 
I've been at two medium-sized Private Wealth Management Groups and neither has voted.

The problem is that the 'voice' option is very high cost vis-a-vis the 'exit' option. Also, there is a massive free-rider problem.


Bambi - if i may be devil's advocate: given that you have only one person doing this for �500bn of assets, that's not really "taking it very seriously" is it?
 
it is
its never that person that decides on her own, its always a committee ans as i mentioned the CIO (and the CEO) sits on teh committee if the question is tricky
 
Bambi: Thanks for your alertness to a factor that I overlooked by specifying your firm's AUM.

Others: So that we may interpret responses even better, please also give some indication of the SIZE and APPROXIMATE NUMBER of your firm's equity investments and associated voting rights.
 
I think you are confusing a discussion thread with a market research questionnaire.
 
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