Press release

LGIM statement on MSCI decision to retain MSCI Global Investable indexes

2 Nov 2018

Commenting on MSCI’s decision to retain the MSCI Global Investable market indexes, Sacha Sadan, Director of Corporate Governance at Legal & General Investment Management said: “LGIM is disappointed to see the U-turn by MSCI on the equal rights of shareholders. This means MSCI default indices will not be taking voting rights into account after a long consultation initially launched in June 2017, despite a majority of investors wanting indices to reflect the equal rights of shareholders. The result is that stocks like SNAP with zero voting rights will be allowed back into MSCI indices.

Voting rights are vital for a well-functioning market by providing critical market mechanisms to hold management to account. The failure to protect investor rights, we believe could damage the ability of the market to function in investor interests.”

Andrew Gates

Senior Communications Manager

Institutional Retirement

T: +44 (0)7702 118262Email Andrew Gates

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at HY25) of which c. 43% (c. £0.5 trillion) is international. We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

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