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Comgest

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement » Outputs and outcomes

Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort

11.1. Indicate the amount of your listed equities portfolio with which your organisation engaged during the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion (to the nearest 5%)
Specify the basis on which this percentage is calculated

Individual / Internal staff engagements

88 Number of companies engaged
30 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

Collaborative engagements

8
5 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

11.2. Indicate the proportion of engagements that involved multiple, substantive and detailed discussions or interactions with a company during the reporting year relating to ESG issue.

Type of engagement

% Comprehensive engagements

 

 

Individual / Internal staff engagements

 

 

Collaborative engagements

11.3. Indicate the percentage of your collaborative engagements for which you were a leading organisation during the reporting year.

Type of engagement

% Leading role

 

 

Collaborative engagements

11.5. Additional information. [Optional]


LEA 12. Engagement methods

12.1. Indicate which of the following your engagement involved.

12.2. Additional information. [Optional]

Letters include emails to companies


LEA 13. Engagements on E, S and/or G issues

13.1. Indicate if your engagements in the reporting year covered E, S and/or G issues, providing an estimation of the breakdown.

Individual / Internal staff engagements

2 % Environmental only
9 % Social only
74 % Corporate Governance only
15 % Overlapping ESG issues
Total 100%

Collaborative engagements

0 % Environmental only
0 % Social only
50 % Corporate Governance only
50 % Overlapping ESG issues
Total 100%

13.2. Additional information. [optional]


LEA 14. Companies changing practices / behaviour following engagement

14.1. Indicate whether you track the number of cases during the reporting year where a company changed its practices, or made a formal commitment to do so, following your organisation’s and/or your service provider's engagement activities.

14.2. Indicate the number of companies that changed or committed to change in the reporting year following your organisation’s and/or your service provider's engagement activities.

Number of company changes or commitments to change

Individual / Internal staff engagements

3

Collaborative engagements

3

14.3. Additional information [Optional].


LEA 15. Examples of ESG engagements

15.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

Topic or ESG issue
          Remuneration scheme
        
Conducted by
Objectives

Ensure that remuneration committee members are aware of the strong opposition of shareholders (48% of AGAINST votes at AGM) to the remuneration report and why there is such opposition

Scope and Process

The topic has been raised by Comgest at every meeting with the company over the past few years. We requested to talk to the Chair of the remuneration committee and the company put us on a waiting list for at least 2 years. As we thought it was inappropriate behaviour we raised the issue during a conference at which we knew one member of the remuneration committee would be present. We forced the discussion with him on the remuneration topic.

Outcomes

1. the remuneration committee member committed to report all requests from Comgest to the board

2. he committed to request that the peer group list used for remuneration setting be communicated to investors

15.2. Additional information. [Optional]


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