Firms think fund managers are better qualified to vote than stewardship teams: FRC report

In this article, Sophie Robinson-Tillett, IPE's ESG contributing editor, reports on the findings of a report published by the UK's Financial Reporting Council (FRC). The report reveals that many companies believe voting decisions should be left to fund managers rather than stewardship and responsible investment teams.

The research, conducted by Morrow Sodali and Durham University Business School, aimed to understand the influence of proxy advisors and ESG rating agencies on investor voting. The FRC plans to review the UK Stewardship Code and other regulatory tools to determine their effectiveness in promoting stewardship. The article provides additional updates on pension fund stewardship and asset manager stewardship.

Click here to read the full article.