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ABN AMRO Bank N.V.

PRI reporting framework 2017

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(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.

ABN AMRO Investment Solutions and/or Neuflize OBC Investissements (“AA-IS”) votes for its mandates and investment funds, with the exception of cases examined by the general meetings commission of AA-IS. AA-IS exercises its voting rights for all “Undertaking for Collective Investments” (“UCIs”), including French and foreign open-ended investment funds managed by it directly or indirectly (if the latter is entrusted to delegates). The voting scope takes into account all of the custodians with which AA-IS works, subject to operational interfacing. In the context of our fiduciary role, they consider that adequately taking into account environmental, social and governance issues can have a positive impact on performance and should therefore be taken into consideration in the investment policy and in their relations with listed companies. So, AA-IS shareholder voting policy is based on ABN AMRO group’s shareholder engagement policy and on AFG’s recommendations (AFG is the French professional organisation for asset managers).

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).

Please see attached document.


Process

LEA 18. Typical approach to (proxy) voting decisions

18.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

          We have developed a customized voting policy using the service provider's standards combined with the approach of ABN AMRO Investment Solutions
        

18.2. Additional information.[Optional]

The voting policy of ABN AMRO Investment Solutions is based on a threshold approach. The entity only votes on case of a minimum of €2mln per fund and per issuer. All funds consolidated, we vote if each issuer amount is larger than, €5mln for French stocks, €7,5mln for European stocks, €10mln for international stocks. 


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


LEA 20. Confirmation of votes (Private)


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%)

11 %

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]

In order to guarantee the efficiency of the voting mechanism, AA-IS has decided that minimum investment limits must be defined (assessed both on a consolidated basis for all of the voting scope, and for each portfolio within such scope) in order to determine whether it must take part in a general meeting or not. With regard to temporary share transfers, AA-IS does not authorise the use of voting rights by third party borrowers.


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
89 %
Against (opposing) management recommendations
11 %
Abstentions
0 %
100%

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

          ABN AMRO IS tracks the total 'For' and 'Against' votes.
        

24.4. Additional information. [Optional]

In 2016 AA-IS exercised the voting rights attached to the main holdings in its portfolios, eg. 293 annual general meetings (ordinary and extraordinary) in connection with 4,543 resolutions. Of these meetings, AA-IS voted against or abstained at total of 551 resolutions and 183 meetings.


LEA 25. Shareholder resolutions (Private)


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.

27.8. Additional information. [Optional]

This is in line with our voting policy you can find on the website: http://www.abnamroinvestmentsolutions.fr/fr/methodologie-isr 


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