Vanguard’s Investment Stewardship Report for the year ended June 2018 reinforces its commitment to the four pillars: board composition, executive compensation, risk and oversight, and governance structures.
First, the data. Vanguard engaged with 721 companies, a 63% increase from 2014. These companies represented $1.6 trillion, or 47%, of total fund equity assets under management. The fund voted on 168,786 proposals at 19,357 company meetings across the world. 76% of its equity fund assets under management are invested in the US, and 86% of the assets with which it engaged were US-based.
Independent directors were included in 40% of its engagements, and board composition and compensation were part of the discussions half the time.