Fund managers turn up heat on UK companies over diversity, pensions, audit
Britain’s big public companies will face a grilling by asset managers over their track record on diversity, excessive pension payouts to bosses and poor quality audits when they hold annual shareholder meetings over the coming weeks.
A committee of 15 asset managers at the Investment Association has picked the three issues that annoy investors the most to try to increase pressure for change.
It is the first time the IA has specifically set out what changes it wants to see in the annual general meeting season. It also marks a step-up in its campaigning efforts as Britain’s corporate governance and stewardship rules are increasingly tightened by policymakers.
“These are three key things which are very topical at the moment and… we want to see significant change on going forward,” Andrew Ninian, director of stewardship at the IA, said.
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