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Neuberger Berman Group LLC

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement » Overview

Overview

LEA 01. Description of approach to engagement

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

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Indicate what your engagement policy covers:

01.3. Attach or provide a URL to your engagement policy. [Optional]

01.4. Provide a brief overview of your organization’s approach to engagement

Neuberger Berman's Proxy Committee is responsible for developing, authorizing, implementing and updating the Proxy Voting Policy, overseeing the proxy voting process, and engaging and overseeing any independent third-party vendors as voting delegate to review, monitor and/or vote proxies. In order to apply the Proxy Voting Policy in a timely and consistent manner, Neuberger Berman ("NB") utilizes Glass Lewis ("GL") to vote proxies in accordance with NB's voting guidelines. For socially responsive clients, NB has adopted socially responsive voting guidelines. For non-socially responsive clients, NB's guidelines adopt the voting recommendations of GL to vote proxies in accordance with NB's voting guidelines. NB retains final authority and fiduciary responsibility for proxy voting. NB believes this process is reasonably designed to address material conflicts of interest that may arise between NB and a client as to how proxies are voted. In the event that an investment professional at NB believes that it is in the best interest of a client(s) to vote proxies in a manner inconsistent with NB's voting guidelines or in a manner inconsistent with GL recommendations, the Proxy Committee will review information submitted by the investment professional to determine that there is no material conflict of interest.

01.5. Additional information [optional]

Engagement with management teams is an integral part of our investment process. We've hosted over 1,500 meetings with management teams in our New York offices in 2016. These meetings include one-on-one discussions with senior management on a host of issues including any relevant ESG topics..  Our research analysts monitor progress/resolution on ESG issues raised in discussions with management teams.  This dovetails with our broader support of organizations encouraging greater reporting transparency such as the CDP and the Center for Political Accountability.

This dovetails with our broader support of organizations encouraging greater reporting transparency such as CDP, and the Center for Political Accountability.


LEA 02. Reasoning for interaction on ESG issues (Not Completed)


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