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).