Aviva Investors, the £331bn asset manager, is considering action against two of the UK’s biggest construction companies for failing to adequately increase the number of women in their boardrooms.

Steve Waygood, chief responsible investment officer at Aviva Investors, said the London-headquartered fund manager could vote against management once more at Balfour Beatty and Bovis Homes if both fail to set out convincing plans to address poor levels of gender diversity.