Marginal rise in 'against' votes by mutual funds on resolutions in FY20

Over 67,000 corporate resolutions were put before fund houses during the year

Domestic mutual funds (MFs) voted ‘against’ 2,500 resolutions proposed by India Inc across annual general meetings (AGMs), extraordinary general meetings (EGMs), and postal ballots in 2019-20 (FY20).

This took the share of ‘against’ votes to 3.84 per cent, marginally better than the previous financial year’s share of 3.76 per cent, showed the data sourced from 

nseinfobase.com.

In FY20, MFs cast their votes on over 67,000 such proposals. Of these, 85 per cent were in favour. ‘For’ votes increased by 133 basis points in FY20. Experts say the share of ‘against’ votes by MFs is unlikely to see a sharp jump in the near