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Investing: Funds to Allow Individual Shareholders Greater Say in Proxy Voting
November 8, 2022Several major asset managers last week announced plans to expand programs providing investors with greater say over how their shares are voted, some of which announced similar plans for some individual index fund shareholders. Vanguard’s pilot program will commence in early 2023, with Vanguard intending to offer “a number of proxy voting policy options for individual investors” in several of its equity funds. For BlackRock, this program will only be available, at least initially, to UK index fund investors. BlackRock’s CEO, Laurence Fink, announced in a letter that it was “working with a digital investor communications platform in the UK to enable investors in select mutual funds to exercise choice in how their portion of eligible shareholder votes are cast.”
