Association of Institutional Private Investors
|Association of Institutional Private Investors V.
|purpose||Representation of shareholders|
|Establishment date:||July 27, 1999|
|Seat :||Bonn , Germany|
The Association of Institutional Private Investors e. V. (VIP) is a German shareholders' association . According to its own information, it is a member of the UNEP Finance Initiative (UNEP FI) and a signatory of the Principles for Responsible Investment (PRI). The association has offices in Bonn , Cologne and three other locations. The main activity is the representation of institutional shareholders at general meetings of German and international listed stock corporations . In this context, VIP has set itself the task of observing the behavior of management boards and supervisory boards of stock corporations in the interests of good corporate governance and of voting on behalf of institutional investors where they see a conflict of interest in exercising their voting rights . On the part of the VIP, the right to speak and propose to general meetings is mainly exercised by its chairman, Hans-Martin Buhlmann.
While the term institutional investor is usually used for “professional customers” under the Securities Trading Act , a private investor is understood to mean someone who is entitled to special legal protection due to poor financial education or limited investment experience. However, the VIP only represents “professional customers” who usually exercise the voting rights for the shares they hold themselves. The VIP nevertheless calls its professional clients “private investors” because they appoint the VIPs as deputies to represent unofficial and thus “private” points of view at general meetings. This is done, for example, to avoid conflicts of interest or to represent positions that are contrary to the public orientation of the respective customer. The ordering investor thus remains anonymous.
In contrast to other shareholders' associations, the VIP does not give any recommendations for specific voting behavior prior to a general meeting and does not collect voting proxy assignments from shareholders who want to join the VIP's positions. The VIP exercises the voting rights strictly according to the instructions of the client and modifies the voting behavior in consultation with the customer up to ten minutes before the vote.
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