HYDERABAD and BANGALORE, India, September 15, 2011 – Broadridge Financial Solutions, Inc. (NYSE:BR) and InGovern Research Services Pvt. Ltd today jointly announced an alliance for the sale and distribution of InGovern’s proxy research and vote recommendations for listed Indian companies through Broadridge’s ProxyEdge® voting platform. This will immediately allow institutional investors, who are current users of the ProxyEdge platform, access to insights on governance of listed companies in India. Also, this will enable institutional investors to exercise their votes at shareholder meetings of Indian companies in a more informed manner.
Mr. V. Laxmikanth, Managing Director, Broadridge Financial Solutions, India, commented, “Broadridge is a leader in the area of investor communications with a number of offerings for retail and institutional investors, especially for electronic voting. ProxyEdge, our leading platform, serves more than 3,500 institutions globally and carries vote recommendations from multiple agencies. Having a link on our platform with InGovern to offer vote research and recommendations for listed Indian securities enhances our offering to our institutional clients globally. We are very excited about this relationship.”
Mr. Shankar Jaganathan, advisor to InGovern and leading corporate governance expert, said, “The alliance of InGovern and Broadridge has enormous potential for institutional investors owning listed Indian securities. For the first time, investors can access Indian voting recommendations from corporate governance specialists on the Broadridge ProxyEdge platform. Institutional fund managers have a fiduciary duty to their investors to actively campaign for better corporate governance, and this alliance provides them with the necessary inputs.”
Mr. Shriram Subramanian, Managing Director of InGovern, stated, “We are extremely pleased to have developed this relationship with Broadridge. Institutional investors – foreign and domestic – have significant shareholdings in many Indian companies, and our alliance with Broadridge enables us to support the higher levels of governance that investors are now seeking. The independent research and insights provided by InGovern, combined with the wide global reach of Broadridge, offer clients a unique proposition.”
The alliance with InGovern further extends Broadridge’s commitment to provide solutions for the India market. In 2010, Broadridge launched its new market connectivity solutions for the Bombay Stock Exchange and National Stock Exchange to support institutional brokerage firms operating in the India markets, either domestically or on a cross-border basis.