New guidelines from Pension and Investment Research Consultants (Pirc), a shareholder activist group, explain how its share voting advice for UK companies is derived and how it will translate the new Combined Code provisions on corporate governance into specific voting recommendations.
Alan MacDougall, managing director of Pirc, said: "A number of companies are complying with the new Combined Code." He acknowledged, however, that parts of the code are open to interpretation and that Pirc's assessment of compliance may be more rigorous than those of many investors or their advisers. "We've got strong views â we make no apologies for that," he said.
