Mutual funds (MFs) may be still hesitant to take on India Inc head-on, but their share of votes against managements has seen an uptick in the last calendar year. The percentage of ‘against’ votes has risen to 4.23 per cent in calendar year 2019, the highest in the past five years for which data was analyzed.
The figure was 3.4 per cent in 2018. In developed markets, institutional investors typically vote against five to 10 per cent of management resolutions. The percentage of ‘abstain’ votes, on the other hand, dipped to 10.9 per cent last year from 12.5 per ...
