The 30% Club, the body that campaigns for increased representation of women on company boards, is preparing to call for fund managers to vote down board appointments where there is insufficient female membership in the boardroom.
The Financial Times reports the group is expected to make the call on Wednesday this week at a round table event chaired by Sir Win Bischoff, chair of the Financial Reporting Council.
According to the FT, some fund managers have already shifted their voting policy. Jupiter Asset Management and Old Mutual Global Investors, the paper reports, have both amended their policies while the Environment Agency Pension Fund, Eden Tree Investment Management and Newton Investment Management have already introduced gender-based voting policies for appointments.
The 30% Club was launched in 2010 to campaign for a minimum of 30% of women in boards among the FTSE 100 companies.
The club runs a separate group to raise awareness among investors and help coordinate the investment case for more women on boards.