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BNP Paribas Asset Management

PRI reporting framework 2017

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

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]

While proxy voting provider are used to help us on the analysis of general meeting, BNPP AM’s will take each voting decision for every general meetings internally with no outsourcing in order to serve its client’s best interests.


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]

The process of dialogue with companies can be engaged on our own initiative or on the request of the issuer and is concentrated on our main holdings, based on our asset under management.

The dialogue with the companies we invest in and that are listed in the main French index (CAC40) is systematic. For the others securities, we engage in dialogue on a case-by-case basis.

The goals of our engagement are:

Outside general meeting season:

  • Promote a constant dialogue with companies
  • Communicate our voting policy to promote good corporate governance and to prepare the next general meeting of the issuer

During general meeting season:

  • Obtain additional information on voting proposals
  • Express our concerns about specific resolutions in contradiction with our voting policy

Depending on specific circumstances, the dialogue may lead to a modification or withdrawal of resolutions from the issuer before the general meetings, or additional information that prompted a change of vote.

We do not contact companies if we do not have issues to raise, of if we consider that we won't have any influence on the company (e.g. controlled companies).


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