DWS, Northern Trust, Minerva Analytics and Asset Management Exchange (AMX) are behind a new service that lets asset owners express their voting preferences in pooled funds.
AMX, a UK-based investment platform provider set up by Willis Towers Watson in 2017, has worked with DWS, the €759bn asset management arm of Deutsche Bank on the new Investor Stewardship Service. It was developed in conjunction with ESG and proxy advisory Minerva Analytics and investment giant Northern Trust.
The move responds to growing friction between asset owners and their managers over pooled fund stewardship rights. Traditionally, investors in pooled funds, which generally have lower fees than segregated accounts, have been forced to accept the voting policy of the investment manager. Cost and complexity, particularly around splitting the votes, have been cited by managers as reasons why investor preferences could not be reflected in voting decisions.
But the ne…