BlackRock Expands Voting Choice to Additional Clients

In response to growing client interest, BlackRock today announces that it is further expanding the opportunity for eligible clients – including public and private pension plans, insurance companies, endowments, foundations and sovereign wealth funds – to participate in proxy voting decisions, where legally and operationally viable.

The expansion of the program reflects BlackRock’s commitment to democratize participation in the financial markets by providing clients the industry’s broadest range of choice to help them meet their investment objectives with the freedom to choose how their votes are cast.

BlackRock today also published a white paper, ‘It’s All About Choice’, that outlines the firm’s ambition to expand Voting Choice to all investors, including individual investors in funds.

Salim Ramji, Global Head of iShares and Index Investments, BlackRock commented:

“BlackRock’s ETF and index investments offer clients thousands of low cost, convenient options for how to invest their money – and that freedom to choose is also extending to proxy voting. Following years of work on technology and regulatory barriers, nearly half of our clients’ index equity assets – including pension funds representing more than 60 million people – have easy and efficient options to vote their preferences. While BlackRock’s Voting Choice program is an industry first, we see it as just a beginning. Our ambition is to make voting choice convenient and efficient for all investors, and we are working with policymakers and industry participants around the world to extend voting choice for our clients”.

Sandy Boss, Global Head of BlackRock Investment Stewardship, commented:

“Our clients have a range of investment horizons, risk preferences and financial needs. We understand that some clients are seeking increased customization, including the opportunity to align their voting with their unique investment philosophies or their views. We are therefore pleased to provide our clients with voting choice options that are the broadest available today. For those clients who authorize BlackRock to manage voting decisions on their behalf, BlackRock Investment Stewardship will continue as an important link between our clients and the companies we invest in on their behalf”.