Forum Home Page [see Broadridge note below]

 The Shareholder ForumTM`

Fair Investor Access

This public program was initiated in collaboration with The Conference Board Task Force on Corporate/Investor Engagement and with Thomson Reuters support of communication technologies. The Forum is providing continuing reports of the issues that concern this program's participants, as summarized  in the January 5, 2015 Forum Report of Conclusions.

"Fair Access" Home Page

"Fair Access" Program Reference

 

Related Projects 2012-2019

For graphed analyses of company and related industry returns, see

Returns on Corporate Capital

See also analyses of

Shareholder Support Rankings

 

 

 

Forum distribution:

Fund manager assures willing to pay any price for private access to information "integral to our investment process"

 

The article below reports the public statement issued by T. Rowe Price, June 28, 2019, "T. Rowe Price Statement on Corporate Access." For previously distributed articles addressing the subject, see

 

Source: IR Magazine, July 9, 2019 article


Andrew Holt

REPORTER

 

T Rowe Price commits to using banks for corporate access

JUL 09, 2019

Asset manager says in-depth meetings with company management are integral to its investment process

US asset manager T Rowe Price has dispelled reports that it is to bypass Wall Street banks on corporate access.

The Wall Street Journal had reported that T Rowe Price and a number of asset managers were organizing private conferences as a way to bypass banks to gain access to management of companies, indicating a possible new trend – especially as Mifid II begins to take a tighter hold in the US.

The move would put at risk millions of dollars in fees that banks make from introducing investors to top executives.

Connecticut-based consultancy Greenwich Associates estimates that corporate access was worth $900 mn to banks last year – about 12 percent of their total equities revenues – boosting trading revenue and helping to draw corporate clients into closer business relationships.

But T Rowe Price put this idea to bed in a statement, which reads: ‘Recent press reports have suggested that big investment firms, including T Rowe Price, plan to discontinue the long-standing practice of [using] Wall Street firms for access to companies in which we invest. In fact, T Rowe Price continues to find value in the access to corporate leaders that Wall Street has facilitated over many years.

‘To best meet our investors’ needs and better serve our clients, we are supplementing that practice by joining with other major asset management firms to plan separate corporate access events that will provide a unique and tailored research experience for our company’s investors. As a fundamental investment research firm, in-depth meetings with company management teams continue to be integral to our investment process and to our ability to make informed investment decisions on behalf of our clients.’

 

Copyright IR Media Group Ltd. 1995 - 2019 All rights reserved.

 

 

This Forum program was open, free of charge, to anyone concerned with investor interests in the development of marketplace standards for expanded access to information for securities valuation and shareholder voting decisions. As stated in the posted Conditions of Participation, the purpose of this public Forum's program was to provide decision-makers with access to information and a free exchange of views on the issues presented in the program's Forum Summary. Each participant was expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

This Forum program was initiated in 2012 in collaboration with The Conference Board and with Thomson Reuters support of communication technologies to address issues and objectives defined by participants in the 2010 "E-Meetings" program relevant to broad public interests in marketplace practices. The website is being maintained to provide continuing reports of the issues addressed in the program, as summarized in the January 5, 2015 Forum Report of Conclusions.

Inquiries about this Forum program and requests to be included in its distribution list may be addressed to access@shareholderforum.com.

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.