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OPTrust

PRI reporting framework 2017

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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]

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

OPTrust exercises the voting rights for public securities held within our portfolios.  We look to international standards and initiatives to form our guidelines, particularly when it comes to environmental and social issues. These include ILO conventions, OECD guidelines, UN Global Compact and best practices endorsed by corporate governance associations such as ICGN and CCGG. Given corporate governance practices differ across markets, we will at times vote on a case-by-case basis.

OPTrust uses an external proxy voting service provider to research and vote the majority of our proxies according to OPTrust's proxy voting guidelines which are reviewed annually. These votes are processed electronically on our behalf. Resolutions or shareholder proposals are closely examined to ensure that voting criteria and guidelines are consistently met. OPTrust has internal staff resources who are dedicated to monitoring the proxy voting process and who also regularly review the vote record to ensure that this voting process is followed. 

OPTrust  share lending agreements require lenders to recall all shares that are out on loan before the record date, on a best efforts basis, in order for OPTrust to vote the proxies associated with the shares.

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).

We monitor regularly and will spot check meetings throughout the year to ensure votes are cast accurately.


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]


LEA 19. Percentage of voting recommendations reviewed

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

19.1. Of the voting recommendations that your service provider made in the reporting year, indicate the percentage reviewed by your organisation, giving reasons.

Percentage of voting recommendations your organisation reviewed

Reasons for review

19.2. Additional information [Optional]


LEA 20. Confirmation of votes (Not Completed)


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%)

99 %

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
88 %
Against (opposing) management recommendations
12 %
Abstentions
0 %
100%

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

          We will escalate voting action in the subsequent year if the Board has not been responsive to shareholders. For example, we may vote against directors on the Compensation Committee where there have been ongoing compensation concerns which have been reflected in the company's Say on Pay vote record.
        

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]


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