LAKE SUCCESS, NY -- (MARKET WIRE) -- 05/27/09 --
Broadridge Financial Solutions, Inc.
(NYSE: BR) today announced that the California State Teachers' Retirement
System (CalSTRS) -- the nation's second-largest public pension fund and an
advocate for good corporate governance -- has become the first
institutional investor to pre-disclose their voting decisions through
Broadridge's ProxyEdge® integrated vote recommendation service. This will
now allow other institutional investors with voting policies similar to
CalSTRS to compare and align their votes with them.
ProxyEdge is Broadridge's suite of electronic voting services that help
simplify the management of institutional proxies by providing access to
third-party recommendations and/or pre-disclosure of third-party vote
decisions. ProxyEdge allows institutions to manage, track, reconcile and
report proxy voting through electronic delivery of ballots, online voting,
and integrated reporting and record keeping to help institutions satisfy
their SEC requirements.
CalSTRS' assets under management totaled $111.6 billion, as of March 31,
2009. As long-term owners and lenders to corporations around the world,
CalSTRS' responsibility is to protect those assets through the pursuit of
good governance and operational accountability.
Broadridge offers a full-range of comprehensive e-solutions that enhance
institutional investor communication. "Our partnership with CalSTRS is an
example of Broadridge's goal to provide more market participants with the
ability to meet their voting objectives thoughtfully and efficiently," said
MaryEllen Andersen, Vice President, Issuer & Institutional Relations,
Broadridge. Ms. Anderson added, "By pre-disclosing votes via ProxyEdge,
institutional investors which have voting policies similar to CalSTRS are
able to weigh their proxy decisions against those of CalSTRS, enabling
greater voting consistency among like-minded investors."
About Broadridge
Broadridge Financial Solutions, Inc., with over $2.2 billion in revenues in
fiscal year 2008 and more than 40 years of experience, is a leading global
provider of technology-based outsourcing solutions to the financial
services industry. Our systems and services include investor communication,
securities processing, and clearing and outsourcing solutions. We offer
advanced, integrated systems and services that are dependable, scalable and
cost-efficient. Our systems help reduce the need for clients to make
significant capital investments in operations infrastructure, thereby
allowing them to increase their focus on core business activities. For more
information about Broadridge, please visit www.broadridge.com.
About CalSTRS
The California State Teachers' Retirement System administers retirement,
disability and survivor benefits for California's 833,000 public school
educators and their families from the state's 1,400 school districts,
county offices of education and community college districts. CalSTRS has
developed robust policies and standards for fair and open governance of
corporations. As long-term owners and lenders to corporations around the
world, the Fund's duty is to protect those assets through the pursuit of
good governance and operational accountability. The investment portfolio
is broadly diversified into six asset categories. For more information,
www.calstrs.com.
Media Contact:
Jennifer ConnellyJCPR, Inc.
(973) 732-3521
Email Contact
Broadridge Media Contact:
Arlene DriscollBroadridge Financial Solutions, Inc.
212-981-1347
Email Contact