Should fund managers do more?As I see it, small retail investors have little influence. Some will vote one way, others the other way; many won’t vote. In the end it’s a wash. Fund managers have expertise and can hire additional expertise to properly assess management’s performance. They control large numbers of votes. If they got together, they could make a more credible push for change where deemed necessary.
I am happy to see a fund manager like FF being more active. To my mind, fund managers should be hands on, more visibly active in protecting unit holder assets.
As to FF’s current proposal, I see little value in going from high growth to moderate growth/ high yield only to reverse course a year or so later (my take on their proposal). Growth investors lost in the first move are not coming back any time soon to drive up share price.
Nothing wrong with moderate growth / high yield; management just need to execute either by making a sale at a reasonable price or continuing to provide that modest growth and keeping expenses down.