I am a complete geek about this issue, and in my spare time I've been rounding up a load more data from asset managers' disclosures. Some examples below, based on disclosures relating to the last couple of seasons, of how voting data doesn't tell you anything include -
- At least three well-known asset managers appear to be abstaining much less often on remuneration reports, and either voting for or against (and in practice voting against more often).
- Most managers oppose 10% to 20% of remuneration reports at big PLCs.
- Three well-known managers (not necessarily the same three as above) failed to back more than a quarter of the remuneration reports that I've looked at.
- In contrast two well-known managers supported 95% of the remuneration reports I looked at (and one of these two would be a real surprise to most people I suspect).
Except, of course, that the votes tell you nothing, and the information is meaningless.