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Alliance Bernstein

PRI reporting framework 2018

Export Public Responses

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LEA 15. Voting policy & approach

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15.1. Indicate whether your organisation has a formal voting policy.

15.2. Indicate what your voting policy covers:

15.3. Attach or provide a URL to your voting policy. [Optional]

15.4. Provide a brief overview of your organization’s approach to (proxy) voting.

As an investment adviser, we are shareholder advocates and have a fiduciary duty to make investment decisions that are in our clients’ best interests by maximizing the value of their shares. Proxy voting is an integral part of this process, through which we support strong corporate governance structures, shareholder rights, and transparency.  We believe a company’s environmental, social and governance (“ESG”) practices may have a significant effect on the value of the company, and we take these factors into consideration when voting. We approach our proxy voting responsibilities with the same commitment to rigorous research and engagement that we apply to all of our investment activities.  Our policy is to vote all proxies in a timely manner, for the full number of shares, for all securities held in client accounts for which we have proxy voting authority, whenever it is administratively and logistically possible to do so.

Our Proxy and Governance Committee has ultimate oversight for our proxy voting policy and procedures.  This group is comprised of portfolio managers, the Head of Responsible Investment, our Governance analyst, ESG analyst, Legal and Operations who meet several times a year to address policy and procedural issues.