So just to be absolutely clear this is what they say:
we do not believe that our regulatory requirements prevent collective engagement by institutional shareholders designed to raise legitimate concerns on particular corporate issues, events or matters of governance with the management of investee companies.More broadly if a fund manager doesn't want to do all this engagement stuff I don't see why they don't just say so rather than trotting out disingenuous arguments for why it's problematic. Unfortunately there are plenty of clients who aren't interested easier. And those that are bothered can take that bit of the job off you and do it themselves.
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