Ways to better engage with proxy advisers

Businesswoman addressing people in meeting

The influence of proxy adviser recommendations on the voting outcomes of company resolutions may be overstated, according to the Australian Securities and Investments Commission (ASIC).

ASIC says it’s been advised by many institutional investors that proxy adviser reports are only one input into their voting decision processes. There were also media reports of institutional investors taking positions regarding certain issues that differed from those of proxy advisers in the 2017 AGM season. Plus, proxy adviser firms often have different views on the same issue and many institutional investors subscribe to more than one adviser’s reports.

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