Aviva Investors and Nick Train rail against Unilever proposals

Plans for sole Dutch HQ

Aviva Investors has asserted it will vote against Unilever's plans to move its headquarters to the Netherlands, with chief investment officer David Cumming warning Unilever will not be a British company if the relocation goes ahead, which will result in some investment funds becoming forced sellers of the shares.

Aviva Investors, the ninth-largest holder of Unilever's UK-listed stocks, said it was not convinced ditching the dual UK-Dutch structure was in the best interests of either the group or its investors ahead of votes next month, with support required from 75% of UK shareholders and 50% of Dutch investors for the proposals to pass. If the consumer goods group receives approval at the meetings on October 25 and 26, Unilever will be removed from the FTSE 100 index, making numerous passive funds as well as many active funds forced sellers. Aviva multi-asset funds turn 'defensive' amid tight...