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Women on boards
As previously mentioned, 36.2% or 68 of the FTSE 100 index companies have now met or exceeded the 33% target, up from 32.4% in 2019. This encompasses 374 women on FTSE 100 boards out of a total of 1,032 directorships, with 34 women in either the chair and senior independent director role.
The review noted companies such as St James’s Place, Tio Tinto and Smiths Group “substantially” increased the representation of women on boards in the final year, while M&G was also included in the top ten companies that had 50% gender balance on the board.
“The key drivers of progress are the turnover rate and the appointment rate of women, both of which have increased by around 4% this year and are at the highest yet,” the review said. “In particular, the appointment rate of 39% is helping fuel faster progress. The number of women in chair and senior independent director roles continues to increase, with three more women to take up chair roles in the coming month
Kermitted Asset Management: We need to talk about Devan
The chairman of the insignificantly-sized investment company Kermitted Asset Management has a plan to eradicate world hunger – but let’s not get too excited just yet.
“Isn’t it the most extraordinary development?” exclaimed the chairman of the insignificantly-sized investment company Kermitted Asset Management as we caught up on-screen the other day. “And a very good morning to you too,” I said pointedly. “Who has time for pleasantries when we could be discussing this potentially enormous breakthrough for the future of humanity?” snapped the chairman.
“Well, of course it is a massive step in the right direction,” I replied. “But I’m not sure we should be counting our chickens on this vaccine breakthrough just yet – there’s still a long way to go and …” “What on earth are you going on about?” interrupted the chairman. “Yes, yes, the vaccine’s cheery enough news but I was talking about
Morningstar updated Analyst Ratings for 1,458 fund share classes, exchange-traded funds, and separately managed accounts/collective investment trusts in November 2020. Of these, 1,071 maintained their previous rating; 96 were downgrades; 56 were upgrades; 224 were new to coverage; and 11 came Under Review due to material changes, such as manager departures.
Sifting out multiple share classes and vehicles, Morningstar rated 271 unique strategies in November 2020. Of these, 10 received a rating for the first time, with the rest having at least one investment vehicle type that a Morningstar analyst previously covered. Below are some highlights of the upgrades, downgrades, and funds new to coverage.
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