State Street Global Advisors Extends Proxy Voting Choice to More Investors
December 13 2022 - 7:00AM
Business Wire
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced it will offer
more investors the power to direct how shares held in the funds
they own are voted.
The new program will offer eligible investors in certain
institutional funds in the US and the UK a range of voting policies
that will be applied to the voting of shares held in those funds.
Voting policies offered as part of the new program will be made
available to investors through Institutional Shareholder Services
(ISS), a recognized independent proxy voting provider.
State Street Global Advisors’ clients in separately managed
accounts already have the ability to either vote their own shares
directly or delegate proxy voting of their shares to the firm’s
asset stewardship team.
With the addition of this new program, investors in more than
40% of the index equity assets managed by State Street Global
Advisors will have the ability -- by the start of the 2023 proxy
season -- to make choices regarding how shares held in the funds
and separately managed accounts they own are voted. Over time, the
firm intends to expand investor directed voting choice to as many
of its index equity assets under management as possible.
“The new voting choice program is a recognition of how important
participation in proxy voting is to our clients,” said Lochiel
Crafter, executive vice president and head of the Global
Institutional Group of State Street Global Advisors. “Giving even
more investors the chance to choose how to vote shares held in
funds they are invested in will remain a priority.”
More details and information on the proxy voting policies that
will be offered to investors as part of the new program can be
found at the company website. Similar to separately managed
accounts, shareholders of institutional funds that are eligible for
the new program can also still choose to delegate their votes to
the State Street Global Advisors Asset Stewardship team.
For funds where the ability to select a proxy voting policy to
apply to the voting of shares held by the funds is not yet
available, the State Street Global Advisors Asset Stewardship team
will continue to vote proxies for those funds and investors. Please
visit the firm’s website to learn more about our approach to asset
stewardship.
“Our focus is to deliver long-term value for our clients,” said
Lori Heinel, executive vice president and global chief investment
officer at State Street Global Advisors. “Whether our investors
delegate voting responsibility to us or choose a different voting
option, we remain committed to that mission.”
About State Street Global Advisors
For four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of index and
active strategies to create cost-effective solutions. And, as
pioneers in index, ETF, and ESG investing, we are always inventing
new ways to invest. As a result, we have become the world’s
fourth-largest asset manager* with US $3.26 trillion† under our
care.
*Pensions & Investments Research Center, as of 12/31/21.
†This figure is presented as of September 30, 2022 and includes
approximately $55.12 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and
State Street Global Advisors are affiliated. Please note all AUM is
unaudited.
State Street Global Advisors Worldwide Entities
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