UK investment trusts demand voting rights for all shareholders
Updated:
The UK's investment trust industry has launched a campaign to make it easier for shareholders to vote on issues affecting their companies.
Sector body the Association of Investment Companies (AIC) will announce today a petition calling on the Government to change the law so investment platforms are compelled to provide shareholders with the ability to vote on matters proposed at company meetings.
Currently, state investment platforms may pass on voting rights to shareholders but are not compelled to do so.
'All shareholders must be able to vote – it's their fundamental right,' said AIC boss Richard Stone.
Applying pressure: The UK's investment trust industry has launched a campaign to make it easier for shareholders to vote on issues affecting their companies
The AIC's campaign has been backed by former pension minister Baroness Altmann, who said a change in the law was 'vital to ensure better shareholder protection'.
Mark Northway, director of shareholder rights group ShareSoc, also supported the petition.
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