IMA defends fund manager role in credit crisis

The IMA has defended fund managers' engagement with firms during the fallout from the credit crisis....

The IMA has defended fund managers' engagement with firms during the fallout from the credit crisis. Its fifth Fund Manager's Engagement Survey, which looks at how fund managers engage with the companies in which they invest, found over the past five years they have increased engagement and shown greater transparency when doing so. The survey found firms were voting in around 95% of resolutions, voting against in 3.3% in 2008 and 3.8% in 2007. This is an increase on the 1.8% reported in 2005 and 2006. Managers contentiously abstained on 1.7% of votes in 2008 and 2.3% in 2007 (2006 1%; 200...