A second major proxy firm has urged shareholders in listed firm Electra Private Equity to vote against board changes proposed by Edward Bramson’s Sherborne Investors ahead of a general meeting on October 6.

ISS said in a note sent to clients this week that Electra is performing better than its peers and that a change in the board is unwarranted. "Electra has outperformed the relevant indices and peers over the past three and five years," ISS said.