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GAM Holding AG

PRI reporting framework 2017

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Organisational Overview
Basic Information [OO 01 - 09] Gateway asset class implementation indicators [OO 10 - 12]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Implementation not in other modules [SG 12 - 16]
Direct - Listed Equity Incorporation
Overview [LEI 01 - 02] ESG incorporation in actively managed listed equities [LEI 03 - 12] Implementation processes [LEI 03 - 12] (A) Implementation: Screening [LEI 06 - 08] (C) Implementation: Integration of ESG issues [LEI 10 - 12] Outputs and outcomes [LEI 14 - 16] Communication [LEI 17]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 16] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 15] Communication [LEA 16] (Proxy) voting and shareholder resolutions [LEA 17 - 27] Overview [LEA 17] Process [LEA 18 - 22] Outputs and outcomes [LEA 23 - 26] Communication [LEA 27]
Direct - Fixed Income
Overview [FI 01 - 03] ESG incorporation in actively managed fixed income [FI 04 - 16] Implementation processes [FI 04 - 06] (A) Implementation: Screening [FI 07 - 10] (C) Implementation: Integration [FI 14 - 16] Fixed income - Engagement [FI 18 - 20] Outputs and outcomes [FI 21 - 22] Communication [FI 23]
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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions

(Proxy) voting and shareholder resolutions

Overview

LEA 17. Voting policy & approach

New selection options have been added to this indicator. Please review your prefilled responses carefully.

17.1. Indicate whether your organisation has a formal voting policy.

17.2. Indicate what your voting policy covers:

17.3. Attach or provide a URL to your voting policy. [Optional]

URL

Attach document


17.4. Provide a brief overview of your organization’s approach to (proxy) voting.

The overarching philosophy is that proxy votes are valuable assets and the authority to vote can be delegated or retained but should always be voted in the best interests of investors. As a general rule, we abide by the recommendations  provided by Institutional Shareholder Services ("ISS") when determining when and how to exercise voting rights.  Having carried out due diligence on the specialist service providers in this area we have appointed ISS to undertake the required research and provide recommendations to allow us to vote in the best interests of our investors.    

17.5. Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).

GAM has formulated a group proxy voting approach. Our various entities now retain the same proxy voting service provider, ISS, as we work to ensure all elements of our various processes are aligned and understood across the Group.

Process

LEA 18. Typical approach to (proxy) voting decisions

18.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

18.2. Additional information.[Optional]

We retain the right to override any recommendation from ISS. If an Investment Manager wishes to vote against the recommendations made by ISS in relation to one or more agenda items, there is a process in place to do so.

This is to ensure we have a safeguard in place to fulfil our duty to protect the best interests of our investors, in line with our overarching philosophy detailed in LEA 17.4.

LEA 19. Percentage of voting recommendations reviewed (Not Applicable)

LEA 20. Confirmation of votes (Private)

LEA 21. Securities lending programme (Private)

LEA 22. Informing companies of the rationale of abstaining/voting against management

New selection options have been added to this indicator. Please review your prefilled responses carefully.

22.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

22.2. Indicate whether you and/or the service provider(s) acting on your behalf, communicate the rationale to companies, when , you abstain or vote against management recommendations.

22.3. Additional information. [Optional]

Outputs and outcomes

LEA 23. Percentage of (proxy) votes cast

23.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

93 %

Specify the basis on which this percentage is calculated

23.2. Explain your reason(s) for not voting certain holdings

23.3. Additional information. [Optional]

LEA 24. Proportion of ballot items that were for/against/abstentions

24.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

24.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
89 %
Against (opposing) management recommendations
11 %
Abstentions
0 %
100%

24.3. Describe the actions you take after voting against management recommendations. 

          Our approach is to use the recommendation provided by ISS when determining when and how to exercise voting rights, including in the case of shareholder resolutions. We believe that ISS undertakes sufficient and detailed research to provide reasoned recommendations to allow us to vote in accordance with our funds' investment objectives.

24.4. Additional information. [Optional]

LEA 25. Shareholder resolutions (Private)

LEA 26. Examples of (proxy) voting activities (Not Completed)

Communication

LEA 27. Disclosing voting activities

27.1. Indicate if your organisation proactively discloses information on your voting activities.

provide URL https://www.gam.com/en/our-company-content/csr/corporate-responsibility/
provide URL

27.2. Indicate if the information disclosed to the public is the same as that disclosed to clients/beneficiaries.

27.3. Indicate the voting information your organisation proactively discloses to the public.

Indicate how much of your voting record you disclose

Indicate what level of explanation you provide

27.4. Indicate how frequently you typically report voting information to the public.

27.5. Indicate the voting information your organisation proactively discloses to clients/beneficiaries.

Indicate how much of your voting record you disclose

Indicate what level of explanation you provide

27.6. Indicate how frequently you report voting information to clients/beneficiaries.

27.7. Describe any other differences in the information being disclosed. [Optional]

We provide further details on proxy voting activities to clients on request.

27.8. Additional information. [Optional]

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