At M&G, we believe that as an institutional investor, our policy on voting should be clear.

An active and informed voting policy is an integral part of M&G’s investment philosophy and voting should never be divorced from the underlying investment management activity. By exercising our votes, we both add value to our clients, and protect our interests as shareholders. We consider the issues, meet the management if necessary, and vote accordingly.

How we vote

  • For UK-listed holdings in actively managed portfolios, we seek to vote on all resolutions proposed at general meetings – we typically vote by proxy, but where our clients’ interests are best served by us attending, we will do so
  • In determining our vote, several factors will be taken into consideration including our voting guidelines (which we review regularly), company specific information and the extent to which we have been able to obtain any additional information required to make an informed decision
  • A responsible board should consult significant shareholders in advance of a company meeting rather than risk putting forward resolutions which may be voted down
  • We are generally supportive of management and aim to be pragmatic, but will abstain or vote against the company if a resolution conflicts with our voting guidelines – we always seek to discuss any contentious resolutions before casting our votes to ensure our objectives are understood; confrontation with boards at shareholder meetings represents a failure of corporate governance
  • The annual general meeting (AGM) reinforces the board’s accountability to shareholders – where accountability is lacking, we will use these meetings to remind the board of their obligations to shareholders
  • For our actively managed portfolios holding UK-listed shares, we seek to vote on all resolutions at shareholder meetings
  • We may not vote in favour of resolutions if we can’t make an informed decision on the resolution because of poor quality disclosure or an unsatisfactory response to questions raised on specific issues – we endeavour to discuss our concerns with the company in advance of voting against a resolution
  • Any shares on loan are recalled whenever there is a vote on any issue affecting the value of shares held, or any issue deemed to be material to the interests of our clients
  • We publish our voting records on this website each quarter

The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested.