Broadridge Financial Solutions has introduced a new feature in its ProxyVote platform that allows eligible investors to select a pass-through voting policy immediately after submitting a proxy ballot.
According to the company, investors accessing proxy materials via email links, mobile devices or desktops will now be able to review and choose their voting policy within the same process used to cast their vote, rather than through a separate platform.
Vanguard will be the first asset manager to use the capability as part of its Investor Choice programme. The programme allows certain index fund investors to influence how shares held by their funds are voted.
Broadridge says the integration is intended to make participation easier for investors and advisers who hold Vanguard funds through third-party brokerage platforms.
Expansion
The update is the latest development in Broadridge’s pass-through voting offering. The company says the solution is currently available to shareholders in more than 600 funds representing over US$8 trillion in assets, compared with around 100 funds two years ago.
Each year, tens of millions of individual investors use ProxyVote’s web and mobile channels to cast proxy ballots. With the new functionality, eligible investors can also select or update pass-through voting preferences during the same process.
Broadridge said additional asset managers are expected to adopt the capability after the upcoming proxy season.
