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BNP Paribas Asset Management

PRI reporting framework 2017

Export Public Responses

You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Outputs and outcomes

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%)

90 %

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]

Our voting scope is made of companies for which aggregated holding positions meet at least one of the three following conditions:

 Represent 90% of accrued total of our stock positions

 Consist in 1% or more of the company market capitalization.

 Ad hoc demand

The choices of the shares for which we exercise the voting rights aim at both concentrating our efforts on positions held in a wide proportion in our assets under management, and participating to shareholders' meetings of companies in which our collective investment schemes hold a significant part of the capital.

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
82.4 %
Against (opposing) management recommendations
12 %
5.6 %

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

          In 2016, our opposition was mainly concentrated on three topics: financial operations, executive pay and board election. We may engage with a company following the AGM on a case-by-case basis, depending on the issue raised at the AGM.
We wish to stress out that, we do not hesitate to vote against proposals, i.e. in 2016, we did not support nearly 18% of the resolutions.

24.4. Additional information. [Optional]

LEA 25. Shareholder resolutions (Private)

LEA 26. Examples of (proxy) voting activities (Private)