Norway fund wants to exclude voteless shares from indexes

OSLO: The world’s biggest sovereign wealth fund is adding its voice to calls to exclude companies with non-voting shares from key indexes, in a push that’s intended to improve corporate oversight.

As part of a discussion sparked by the voteless initial public offering of Snap Inc, the US$960bil Norwegian wealth fund says it backs a plan to place a “zero investability weight” on companies with no listed shares with voting rights.