– Mercer reports increase shareholder activism coupled with public and government pressure is the single biggest trend in driving change in executive remuneration this year.
– The focus on shareholder activism on value-destructive M&A activity continues as over 30% of BAE investors, including Invesco Perpetual, registered their opposition to the merger, which would require support from 75% of BAE shareholders. Political wrangling appears to have halted the deal for now.
– Members of the Local Authority Pension Fund Forum have failed in a resolution seeking the appointment of an independent chair at News Corporation. The motion for Rupert Murdoch to step down as chairman was also supported by proxy advisory firms Glass Lewis and ISS, the Australian Council of Superannuation Investment and Hermes Equity Ownership Services, but was easily defeated at the company’s AGM.
– Eurosif and UKSIF’s bi-annual European SRI study has highlighted the UK’s leading position in responsible investment within Europe with the highest total of assets subject to engagement/voting and one of only two European countries with over €1trn in assets managed responsibly.
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