|
|
Christoph Ryter's comments come after ASIP, in conjunction with proxy voting company Ethos, business lobby group economiesuisse, first-pillar fund AHV and others published a new voluntary code of conduct on engagement covering all of the country's institutional investors.
"This voluntary engagement is precisely what's important for us", Ryter said. He said investors in Switzerland were closely monitoring costs and had therefore shifted assets into index-tracking funds. "Therefore, it is important funds not be forced to engage with every single Swiss company in which they may have a minor holding." He noted that all steps leading up to a shareholder vote being cast were time- and cost-intensive.
Ryter said the new code of conduct for institutional investors, published last month, was not a direct reaction to the March plebiscite, and stressed the importance of the guidelines covering all institutions. He explained that ASIP was already involved in drafting a Swiss Code of Best Practice in Corporate Governance, which informed the new guidelines.
Full article (IPE registration required)