BlackRock is expanding its Voting Choice proxy-voting programme, enabling additional clients invested in its equity index funds to vote via proxy. The programme expands the proxy voting opportunities for public and private pension funds, insurance companies, endowments, foundations and sovereign wealth funds.

BlackRock is broadening its Voting Choice programme, which began in October 2021. Since the programme’s launch, eligible institutional investors poured an additional $120 billion into the programme, totaling $530 billion—about 25% of the $2.3 trillion of eligible indexed equity assets contained in the proxy-voting programme. The $2.3 trillion of eligible indexed equity assets is 47% of the firm’s passively managed equity.

In the Voting Choice programme investors can control their own voting, only elect to vote on those issues that are of importance to them, can choose from seven different voting policies, or rely on BlackRock’s stewardship office.

Sandy Boss, senior managing director and global head of BlackRock investment stewardship: “Our clients have a range of investment horizons, risk preferences and financial needs. We understand that some clients are seeking increased customization, including the opportunity to align their voting with their unique investment philosophies or their views.”

Source: https://www.pionline.com/governance/blackrock-expands-proxy-voting-program-investors