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Plan for Vanguard's Transition in Voting Authority to External Managers

By Randi Morrison posted 04-05-2020 09:49 PM

  
In "Vanguard Transitions Voting Authority of Funds to External Managers: What it Means and How it Impacts the 2020 Proxy Season," Proxy Analytics highlights the potentially significant impact on voting outcomes for particular proxy proposals resulting from Vanguard's announcement last year that it would be relinquishing some of its voting control for actively managed funds to the active equity fund managers (reported on here). The report looks at Vanguard's voting history compared to the two institutions determined to be most significantly impacted by the change - Wellington Management Company and PRIMECAP Management Company - on contested director elections, say-on-pay, and current hot topic shareholder proposals including board leadership, political spending, and climate change and sustainability proposals. The results of the analysis inform Proxy Analytics' suggested action items for companies to prepare for the impacts of this transition.

          This post first appeared in the weekly Society Alert!
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