Fund groups push for more women on boards

Board-Room-Meeting-Room-Business-700.pngJupiter Asset Management and Old Mutual Global Investors have vowed to vote against appointing men to companies’ boards which do not have enough women executives.

The fund giants will take part in a statement of intent today by the 30 per cent Club, which campaigns for greater representation for women in executive boards. The event will call more fund managers and industry representatives to join the initiative, the FT reports.

“It is vital that investors engage with companies on the issue and, where appropriate, exercise their ownership rights through voting in the event of inadequate responses by boards,” says Brenda Trenowden, the head the financial institutions group for Europe at ANZ bank and chair of the 30 per cent Club.

She says: “This could involve voting actions in listed companies in two areas: disclosure expectations and exercise of ownership rights regarding directors’ elections and reporting.”

Newton Investment Management, the Environment Agency Pension Fund and Eden Tree Investment Management have also shown their commitment to the cause.

The 30 per cent Club will gather today at the London Stock Exchange with chair of the Financial Reporting Council Sir Win Bischoff, undersecretary of state for women and equalities Caroline Dinenage, Aviva chief executive Euan Munro and other leaders in the asset management industry.