In more than one third of those US meetings, it voted against at least one management recommendation, though it only voted against 7% of all management proposals. Those proposals were counted at nearly 15,000 global meetings and 3,724 US meetings. In recent years, the firm has become more aggressive in voicing its concerns with management behind the scenes, though it is rare that it would seek to go public.Īccording to the report on 2012, BlackRock voted on a total of 129,814 proposals across the globe, including nearly 30,000 in the US. 'We have to look with a different lens,' he added.īlackRock issues annual reports that detail how it has engaged companies among its vast holdings over corporate governance issues. 'We are not going to leave.'įor instance, loading a company will billions in debt to pay a dividend or conduct stock repurchase may be good short-term economics, 'but it may be terrible in the long cycle,' he said. 'In my mind activists are trying to improve the company, in most cases, in the short term because they improve the company and then leave,' Fink said. He said he thinks BlackRock should push when needed, and it does, but cautioned he doesn't view hedge fund activists as the best solution. That doesn't mean as an investor BlackRock will always ally itself with management. 'We are an active voice, we work with companies, but we need to work for the long-term interest,' Fink said after reporting a record full-year profit and revenue.

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