In a marked departure from their earlier approach to the endorsement of promoter decision-making, governance-focused mutual fund managers are adopting a more assertive stance by actively opposing company resolutions they perceive as detrimental to public shareholders. Data from primeinfobase.com showed the percentage of votes opposing resolutions soared to a record high of 8.55% in FY24, a notable leap from 7% in FY23 and 4.62% in FY22.
Inflows into largecap MFs up 731% in a yr, sectoral funds see 289% growth
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