A shareholder spring is one of those regular investing tropes that get wheeled out each year like ‘sell in May and go away’, the ‘Santa rally’, and how you can never get hold of your broker when the Test Match is on.
It’s usually mentioned around the peak of the season for annual meetings. An annual appraisal of companies and their management, annual meetings are the chance for shareholders to voice their opinions and even vote down decisions. Usually nothing much occurs – there’s the odd minor revolt over executive pay, but it rarely amounts to much.
But now we are in the midst of a developing trend in European and UK equities that goes a stage further: shareholder activism.