Investors oppose Unilever HQ move to the Netherlands
Unilever is likely to be kicked out of the UK’s benchmark stock indices, potentially forcing funds to sell the company’s London-listed shares
London — Unilever faces mounting opposition from UK fund managers over its plan to consolidate its headquarters in the Netherlands. A fund manager at Janus Henderson Group said he would oppose the food and personal-care giant’s move away from a separate British base, joining the likes of Schroders. Unilever is expected to be kicked out of the UK’s benchmark stock indices as a result of the shift, potentially forcing funds to sell the company’s London-listed shares. “I think it preferable for Unilever to remain in the UK FTSE indices and subject to the UK’s more open system for corporate control,” said Job Curtis, who runs Janus Henderson’s City of London Investment Trust. Curtis said on Tuesday that he plans to vote against the Anglo-Dutch consumer giant’s move at a shareholder meeting on October 26. The fund holds 1.15-million shares in Unilever Plc, the Anglo-Dutch company’s UK-listed entity. Morningstar reported the news earlier. On Monday, Schroders said it would oppose the head...
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