Debunking claims that a 'cartel' of asset managers controls major U.S. corporations
Publishing timestamp: 2023-10-23 09:00:01
Summary
The article discusses the role of asset managers such as Vanguard, BlackRock, and State Street in passive investing and their influence on corporate decision-making through proxy voting. It addresses claims that these asset managers "own" or "control" major American corporations and explores the debate around their impact on environmental, social, and governance (ESG) issues. The article also mentions that these asset managers have launched pilot programs to allow shareholders to have a say in how they vote on certain issues.
Sentiment: NEUTRAL
Keywords: american vanguard corp, blackrock inc,
Source: https://www.cnbc.com/2023/10/23/vanguard-blackrock-state-street-dont-own-major-us-corporations.html