PRESS RELEASE
Major UK Fund Management Groups Fail to hit the Governance Spot, says Well Money Clinic founder Robin Keyte
Well Money Clinic, a new financial website, has launched a survey that shows that 2/3 of fund managers surveyed are unable to demonstrate that they are Responsible Investors.
When asked for the name of the person whose job it was to deal with responsible share ownership, half of the 12 fund managers surveyed said that no one was dealing with that job. Even of the positive respondents, 2 were unable to explain how responsible share ownership was practised, with one CSR team head saying that they did not understand the concept of ‘engaging with the board of the PLCs they invest in.’
In response to the complacency of fund managers who fail to carry out any shareholder engagement in respect of the shares held in their funds, Well Money Clinic has launched the G Spot campaign. Consumers can and should challenge the providers of any pensions or investments they use on the substantial economic risks they are taking with their investments. They can download a template letter from www.wellmoneyclinic.com and send their providers the message that they want Responsible Share Ownership.
Dr Robin Keyte, Chartered Financial Planner and Well Money Clinic founder said: “The research shows most fund managers and product providers are effectively sleeping on the job, and the public are completely unaware of it. It is only consumer power that can put this right. Investors should write to their product provides and tell them they want Responsible Share Ownership -- they can do this through the G Spot campaign. “
-ENDS-
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