Vanguard’s recent move to distance itself from climate-conscious investing won support from anti-ESG state leaders — but the firm is now getting pushback from some of its clients. Earlier this week Vanguard received at least 1,400 copies of a form letter from the Sierra Club, signed by Vanguard investors. The letter asserts that by leaving…
Tag: vanguard
Vanguard Pulls Out of NZAM
Vanguard explains why it is withdrawing from the climate agreement. Emphasis added More than 30 million individual investors around the world have chosen to entrust Vanguard with their hard-earned savings. We have a singular goal to maximize their long-term returns and give them the best chance for investment success as they save for retirement, a…
Want a Bigger Say on Corporate Behavior? Move Your Money – The New York Times
From our former colleague Jackie Cook — index fund voting patterns may be an unhappy surprise to their investors. [W]hile index funds offered by different companies were often nearly indistinguishable in fees and performance, the voting behavior of the funds was very different. Vanguard and BlackRock, the two biggest fund managers, tended to side with…
Majority Action’s Asset Manager Report 2019 — BlackRock and Vanguard Flunk Again
Majority Action’s latest report on asset manager votes on climate change show little progress: BlackRock and Vanguard voted for 99% of U.S. large capitalization energy and utility company-proposed directors and 100% of their say on pay proposals. BlackRock and Vanguard not only voted with management more often than most of their asset manager peers; they…
Tim Smith on Conflicts and Opportunities in Mutual Fund Proxy Votes: Progress at Vanguard
VEA Vice Chair Nell Minow interviewed Walden’s Tim Smith for the Huffington Post: I’ve written earlier pieces about the failure of the people who manage our money, especially our retirement savings to provide essential feedback to the companies whose stock they buy on behalf of more than 40 percent of working Americans, charging us as many as 16…
Vanguard offers fresh backing for ‘proxy access’ reforms | The Fiscal Times
This is huge news, and possibly the tipping point for widespread adoption of proxy access. BOSTON (Reuters) – Top U.S. mutual fund company Vanguard Group will be more likely to support measures giving shareholders new power over the makeup of corporate boards, a boost for reformers heading into the spring proxy season. A Vanguard spokeswoman…
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