Identifying good corporate governance standards is central to Resolution Capital's security underwriting process. We have a long standing bias against externally managed vehicles due to the high likelihood of a mismatch in the interests of the manager and shareholders. Our quarterly commentary indicates changes in the portfolio, as well as the rationale for such moves. We identify and report adverse changes in corporate governance – both in structure and in policy – when they occur.
Resolution Capital keeps our investor interests paramount, and we support these interests through our voting record. In the past we have voted against proposed remuneration levels when deemed excessive or largely delinked from performance. For instance, we voted against an excessive pay package, granting options up to 10% of the issued shares, proposed at Hysan Development in May 2015.
Our proxy voting record is also disclosed on our website https://www.resolutioncapital.com.au/about/