Monday, 10 December 2007

More City donations to the Tories - UPDATED

I've had a look for any institutions' voting decisions on Caledonia Investments' proposed £60k donation to the Tories back in July (see previous blog). I've only been able to find two voted on it so far. Co-operative Insurance voted against (you'll need to search here). They argued:

"We do not consider that the payment of political donations is an appropriate use of shareholder funds, except in exceptional circumstances."

But surprisingly Insight Investment voted FOR it (it's resolution 15).

UPDATE - F&C voted AGAINST. See page 849 of their report here.

Most of the handful of shareholder voting records that are in the public domain are updated infrequently. The most recent reports I can find for many managers relate to company meetings in Q2, whereas the Caledonia AGM was in July. I'll update and repost this if I find any more info.

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