If you take executive remuneration seriously, it might be time to look into who is managing your money.
If you like to think your money manager interrogates remuneration policies and only votes on them after careful consideration of the issues, it may be time to think of dumping Coronation Fund Managers, Investec Asset Management and Stanlib Asset Management, and turn instead to Allan Gray or perhaps Old Mutual. Tucked away on page 17 of PwC’s latest report on executive remuneration is one of the most useful and chilling bits of information you’re likely to come across in the highly charged environment of executive pay. It’s an account of how the big fund managers voted on executive pay at the JSE top 40 companies in 2016.Coronation voted in support of remuneration policies in a remarkable 94.3% of the cases; Stanlib voted in favour 90% of the time; Investec voted in favour 85% of the time and Old Mutual voted in favour 67% of the time. The hands-down winner, in terms of applying its mind to a highly sensitive matter, is Allan Gray, which voted in favour of remuneration policies in on...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.