Richard Stone, chief executive of the Association of Investment Companies (AIC), welcomed the engagement programme.
He added: “Investment trusts’ independent boards of directors are important guardians of shareholders’ interests. Boards have been particularly proactive this year in their pursuit of shareholder value, proposing mergers, reducing fees and even proposing the winding-up of companies.
“Shareholder engagement is a critical component of good governance.”
Quilter Cheviot said for the investment trusts where red areas of concern have been identified, it will be in touch very soon.
In the most serious cases it has already escalated its engagement with a formal letter to the board indicating that unless the situation is remediated, the firm will be voting against management at the next shareholder meeting.
Quilter Cheviot said it will monitor progress of this engagement and make a start on the next phase with a focus on investment trusts in the private equity space, before moving on to those involved in infrastructure and real estate.
tara.o'connor@ft.com
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