“Asset owners have a crucial role to play in being responsible stewards of this capital and their voice has to be heard.”
The 44 asset managers written to include Baillie Gifford, Abrdn, Ninety One, Schroders, Vanguard and Janus Henderson Group.
The minister’s call for action was echoed by the Occupational Pensions Scheme Stewardship Council (OPSC), which represents asset owners.
The body cited BlackRock as an example to fellow asset managers.
It said the investment manager had set up an internal infrastructure which allows clients to vote directly in pooled funds, through choosing from a range of Institutional Shareholder Services policies.
“BlackRock is demonstrating that client directed voting in pooled funds is possible when it has long been deemed impractical,” the OPSC said.
“We expect that asset managers work to ensure better and more open, honest communication with clients about voting.”
ruby.hinchliffe@ft.com
