ISIS claims a first on transparencyJune 2003
A leading socially responsible investment fund manager is claiming to have become the first European fund management company to disclose its entire voting record at corporate annual general meetings.
Isis Asset Management, which was created by the merger of Friends Ivory & Sime and Royal & SunAlliance Investment, has issued a document detailing exactly how it has voted on 13,866 resolutions at meetings over the past year.
It says it hopes the move, which comes at a time when pressure is mounting for more disclosure in the fund management industry, will prompt others to follow suit.
The report shows that Isis, one of the UK’s largest fund managers with more than £60bn ($97.5bn) in assets under management, opposed management in five per cent of votes.
Isis has held talks with pharmaceutical companies on the issue of access to drugs in developing countries. It met AstraZeneca, GSK, Novartis and Novo Nordisk to encourage them to ‘develop a practical response to the global health crisis’.
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