ESG & Investing
Vanguard to Test Giving Retail Investors More Voting Power
- Index-fund behemoth to roll out pilot program early next year
- Asset managers’ power over proxy voting faces greater scrutiny
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Vanguard Group is planning a trial to give retail clients more say over how their shares are voted at corporate meetings, as large money managers’ influence over hot-button issues faces mounting scrutiny.
Instead of making decisions exclusively on its own, Vanguard will give individual investors in several equity index funds more options about how their shares are voted, the Valley Forge, Pennsylvania-based company said Wednesday in a statement. It will begin testing the strategy early next year.