Yesterday, U.S.-based AST Fund Solutions announced the launch of ProxyIQ, a blockchain-based proxy campaign management solution for mutual fund issuers.
AST provides proxy solicitation and shareholder communication services to mutual funds. It has a range of solutions to reduce the cost of proxy campaigns and regulatory mailings. By using blockchain to capture voting data, the firm aims to make proxy campaigns more secure, efficient and allow greater control to its clients.
The whole point of proxy voting is to enable broader participation by shareholders in decision making. But that’s often a challenge.
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