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North East Scotland Pension Fund

PRI reporting framework 2017

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.


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]

As a long term shareholder one of the main tools open to the NESPF is to use its influence is by exercising its voting power on governance, social and environmental factors with the companies in which it invests. Apart from our Pooled Passive Fund we vote in-house on at all AGM’s and EGM’s where the Fund is entitled to vote. The Fund’s voting advice is provided by P.I.R.C (Pensions & Investment Research Consultants Ltd). PIRC is the UK’s leading independent research and advisory consultancy. In additional the Local Authority Pension Fund Forum (LAPFF) also provides us with research including the receipt of regular alerts on companies with serious corporate governance failings. Both sources of information are taken into account when making our voting decisions


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


LEA 20. Confirmation of votes (Not Completed)


LEA 21. Securities lending programme (Not Completed)


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]

When LAPFF issues voting alerts, the alerts contain the rationale for the vote recommended and are regularly sent to target companies for comment.


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%)

100 %

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
67 %
Against (opposing) management recommendations
27 %
Abstentions
6 %
100%

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

          We Vote In-house on our Active Equity holdings, this was decided so that we had total control over the Funds Voting responses, and we quarterly add our Voting Record to our webpage, and information is also included in our Annual Report.
LAPFF of which we are active member have continued engagement with many companies with any issues included voting against at meetings would be included in their discussions.
        

24.4. Additional information. [Optional]


LEA 25. Shareholder resolutions (Not Completed)


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

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 and/or to clients/beneficiaries.

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.

27.8. Additional information. [Optional]

All the Funds voting records can be found on our website and are updated quarterly.


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