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Salt Funds Management

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.

17.2. Indicate what your voting policy covers:

17.3. Attach or provide a URL to your voting policy. [Optional]

URL

Attach document


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

The Proxy Voting Policy is designed to reasonably ensure that proxies are voted in the best interests of our clients.  We recognize this duty requires us to vote client securities in a timely manner and make voting decisions that are intended to maximize long-term shareholder value.

Our guiding principles are principle-based rather than rule based and we see proxy votes as an extension of the investment decision. Accordingly, we analyse each proxy proposal in light of these principles on a case-by-case basis, based on the views of the Head of Research, research analysts and Portfolio Managers.

Salt’s policy in relation to securities for which a voting right exists, is to vote on company resolutions as appropriate where it has voting authority and responsibility to do so. Decisions on how to vote proxies are made on a company-by-company and resolution basis, whilst preserving and increasing the value of the investment in the best interests of our clients.

Our guiding principles in performing proxy voting are to make decisions that favour proposals that have the potential to maximize a company’s shareholder value and are not influenced by conflicts of interest.

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).

The responsibility for our proxy voting activities lies with the Portfolio Manager(s) who make decisions on a company-by-company and individual resolution basis.  Both Portfolio Managers, where practical, are required to have input into the decision making process and provide oversight on adherence to our principles-based 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]


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]


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.

24.4. 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.

27.5. Indicate the voting information your organisation proactively discloses to clients/beneficiaries.

Indicate how much of your voting record you disclose

Indicate what level of explanation you provide

27.6. Indicate how frequently you report voting information.

27.8. Additional information. [Optional]


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