How French asset managers exercise voting rights

Related Content Related Video Related Articles

The Association Française de la Gestion Financière (AFG), the French asset management association, has published a survey on the exercise of voting rights at general meetings of shareholders by asset management companies based in France.

Among its main findings, the research reports an increase in the number of participations to general meetings.

“Reflecting portfolio diversification, general meetings of foreign issuers now account for 80% of meetings’ participations by asset management companies,” the survey highlights.

Also, voting practices point to stronger engagement by asset managers. The study reveals that asset management companies rejected one-fifth of proposed resolutions. In 2014, they have voted at least one “no” at over 75% of French general meetings and at 60% of foreign general meetings.

The survey points out that general meetings highlight gaps between issuers’ strategies and management companies’ voting policies.

Finally, the majority of asset managers surveyed feel that the quality of dialogue on governance is improving, particularly with French issuers.

The full report is available here : 2014_04_07_appendix_Survey_Voting_Mancos_France_2014

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

Close Window
View the Magazine

You need to fill all required fields!