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Pensionfund Metalektro (PME)

PRI reporting framework 2017

Export Public Responses

You are in Direct - Listed Equity Active Ownership » (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.

On behalf of PME, MN executes all the voting and engagement on the basis of PME's policy. MN exercises voting rights for all internally managed equities and for the majority of externally managed equities. MN has a custom policy and is advised by ISS on its votes. We vote in all markets except for markets, where due to administrative burdens, the process is inefficient.
ESG related shareholder resolutions are generally supported by MN. We will generally do not support shareholder resolutions that limit the company's business activities or capabilities or result in significant costs being incurred with little or no benefit, unless the company faces a risk of non-compliance with international treaties and/or established market and/or industry standards.

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).

On behalf of PME, MN executes all the voting and engagement on the basis of PME's policy. For the executing of its voting rights, MN makes use of the services of Institutional Shareholder Services (ISS). ISS gives a voting advice for each voting item that is placed on an agenda of a general meeting on the basis of the customized voting policy. Issues where our policy guidelines mention a case-by-case approach are implemented in our custom policy in line with the ISS recommendations. Note that MN can choose not to follow this voting advice and is able to vote differently. In cooperation with Eumedion, MN attends and votes at several general meetings per year. In all other cases votes are submitted electronically and on the website of our fiduciary manager MN and the our own website there is a reporting tool on all the votes that have been submitted by MN.