As of Q1 2024 we have changed our procedures, and will now pre-disclose our voting decisions five days in advance of shareholder annual general meetings (AGMs).
We have begun this new procedure as part of our commitment to transparency towards clients, for its signaling effect towards companies, and to maximise the potential influence of our decisions on other shareholders.
There is some evidence of the potential value of pre-disclosure in rallying votes for change. One of these is in a recent research study published by the European Corporate Governance Institute. The study analysed voting by Norges Bank Investment Management (NBIM), which runs the Norwegian sovereign wealth fund and is the world’s largest single shareholder. The study found that NBIM’s pre-disclosures of its votes led to an average increase of 2.7 percent in shareholder votes “against” management recommendations.
To see all our voting choices, including advance notification of decisions for all upcoming meetings over the upcoming five-day period, please visit our proxy voting dashboard.
