Showing posts with label Dual-Class Shares. Show all posts
Showing posts with label Dual-Class Shares. Show all posts

Dual-class voting shares - are our Fiduciaries standing firm?

Canny insiders - with the help of advisers among investment banks - are steadily eroding shareholder rights. There is opposition but it is piecemeal and split. Reality is, if the major fiduciaries in the asset management business would get together and put their feet down this unhealthy development would be stopped very quickly. I would not go so far as to call these structures the biggest threat to financial markets but they are just one more factor behind the continuous increase in Inequality.
(27-Mar-2019)
Dual-class structures biggest threat to financial markets

Multiple Share Classes - Easy Solution

While MSCI mulls over what to do about Multiple Share Classes I see an obvious solution: publish indices with and without these shares and give the investors the choice of yardstick they prefer.
But give end investors the same option, so ask pension fund sponsors and clients of mutual funds and private banks which index they want to have used as a benchmark. (3- Nov-2017)
Bloomberg

Never-ending Debate about dual-class Shares

If the main purpose of dual-class shares is the sheltering of a business from raiders (now calling themselves 'Activists') this can easily achieved by setting a limit to the voting rights of each shareholder. (17-Oct-2017)
Financial Times (Pay Wall)

Dual-Class: The Consequences of Depriving Institutional Investors of Corporate Voting Rights

Dual-Class: The Consequences of Depriving Institutional Investors of Corporate Voting Rights
(25-May-2017)

Non-Voting Shares Don't Have a Pretty History

History or not, they must be banned. Lame Financial 'Fiduciaries' (aka Investment Managers, Private Banks, Insurance firms, Pension and Mutual Fuds) must state their intention and be rated accordingly. Good Governance must be a first stop for any marketing and sales effort by these firms.
Non-Voting Shares Don't Have a Pretty History