The Advisors' Blog

This Jasper Street Partners September insight shares some details about say-on-pay support this year, highlighting nuances within the overall positive trend.

Among the largest investors, BlackRock recorded notably higher support levels than previous years, and Vanguard and SSIM again supported 95+%.

At the same time, support among many large active managers – including Fidelity, Capital, Invesco, Franklin, Wellington and Nuveen – has declined.

Jasper Street is seeing many active managers vote differently than the “default” recommendation by their firm’s proxy voting team — which can either help or hurt companies.

Investor concerns that go unaddressed can fester and have more meaningful consequences. This is particularly the case if the “against” vote was driven by the firm’s portfolio managers.

Even with 80%+ support levels, it says companies cannot afford to ignore ‘against’ votes from large shareholders.

– Meredith Ervine