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Sycomore Asset Management

PRI reporting framework 2017

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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Process

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]

Since 2015, Sycomore AM has worked with ISS, a proxy voting advisory company. Prior to that, Sycomore AM used to work with Proxinvest. 

Sycomore AM has defined its own voting policy according to which ISS makes voting recommendations. Sycomore AM's governance team (the ESG team + one person who works in the middle office) reviews ISS research and voting recommandations to help them make their voting decisions but ultimately Sycomore AM always votes according to its own voting policy.


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


LEA 20. Confirmation of votes

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

20.1. Describe your involvement in any projects to improve the voting trail and/or to obtain vote confirmation .

          We engaged our depository to obtain vote confirmation but only received negative answers so far. It seems that there are not equiped to deal with such requests. We will continue to stress the importance of receiving vote confirmations for us, as we believe that a growing and repeated demand  for this service by investors will be key to solve the problem.
        

20.2. Additional information. [OPTIONAL]

          
        

LEA 21. Securities lending programme

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

21.1. Indicate if your organisation has a securities lending programme.

21.3. Additional information.

          
        

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]

We track the reason why we abstain or we vote against management recommendations for all votes cast within the ISS platform.

For significant shareholdings, we systematically inform the company of the rationales of our votes against management, most often by email or telephone. 

We also do so when we are engaging with the company around the AGM.

Finally, we will always give and explain our voting intentions ahead of the AGM if a company asks for them.


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