UK - UK investors will soon have better access to corporate governance analysis and electronic voting as a result of a joint venture between the National Association of Pension Funds and the US-based governance organisation, Institutional Shareholder Services.
The new venture, announced today at the NAPF's Annual Conference in Glasgow, will result in the creation of a new UK company, Research, Recommendations and Electronic Voting, or RREV, equally owned by the NAPF and ISS. RREV will be launched in London in January next year.
The new service will include corporate governance analysis and recommendations, based on NAPF policy, extended to all FTSE All-Share companies, and not just the current top 350. It will also provide global access to analysis of some 22,000 companies in around 80 countries including the US as well as electronic capability on UK global securities.
The service would also provide access to corporate governance policy and research services offered by the NAPF and ISS and a new web portal allowing easy access to the new services at any time.
NAPF chief executive Christine Farnish said: "Today is a very important day for the NAPF and shows the determination of the NAPF to build on its position at the cutting edge of the corporate governance debate."
She added: "This venture bring together two of the world’s most recognised leaders in corporate governance and electronic voting. For the first time UK pension funds and other institutional investors will have access to analysis and recommendations on thousands of companies worldwide through the same portal.
ISS chief executive James Heard said: "We are delighted to be the NAPF's partner in this venture."
He added: "Today, more than ever, it is critical that investors actively manage portfolio holdings and influence better corporate behaviour through informed proxy voting."
Both organisations will be putting in place a comprehensive schedule of training and information to unable current and new customers to make the most of the service.