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Ausbil Investment Management

PRI reporting framework 2018

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



LEA 15. Voting policy & approach



15.1. 貴社において正式な議決権行使ポリシーを設定しているかどうかを明示してください。

15.2. 議決権行使ポリシーの対象範囲を記載してください。

15.3. 議決権行使ポリシーを添付するか記載されたURLを提示してください [任意]



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

Voting is captured by Ausbil’s Corporate Governance Policy. Ausbil acts on corporate governance issues in accordance with its documented Board-endorsed Corporate Governance Policy. The Policy document details formal procedures designed to ensure the consistent application of the policy.

The Corporate Governance Policy outlines the core corporate governance principles that Ausbil subscribes to, e.g. the rights of shareholders, the equal treatment of shareholders, the accountability of the board, transparency and integrity of financial statements. The policy also outlines the roles and responsibilities of Ausbil’s corporate governance committee and proxy voting procedures as well as the decision framework relating to board structure and composition (e.g. size, diversity, competence, independence, time commitment) and remuneration (e.g. committee structure, disclosure and transparency, basic salary, short-term incentives, long-term incentives, quantum, termination provisions and more) as well as audit and financial reporting, share capital and other issues (e.g. shareholder resolutions, related-party transactions and more). While the policy seeks to define a preferred framework the policy states that it should not be applied at the expense of pragmatism and suitability.


LEA 16. Typical approach to (proxy) voting decisions

16.1. (委任状による)議決権行使を通常どのように決定しているかを明示して下さい。



          Ausbil consults a proxy advisor for voting decisions but ultimately makes our own voting decisions on a case-by-case basis, supported and guided by Ausbil’s policy.

16.2. 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).

Ausbil engages with investee companies in several forms of direct contact to exercise the rights of ownership on behalf of clients and Ausbil votes on all matters in accordance with client instructions, otherwise in accordance with the corporate governance policy. In the absence of any guidance, or in any instance whereby voting authority has been delegated by the client in writing, Ausbil directs votes in a manner consistent with the investment objectives of each Ausbil Investment Trust, as disclosed in the respective Product Disclosure Statement, or Investment Management Agreement, in the case of discrete mandates. With respect to the periodic reporting of corporate governance activity to clients, Ausbil will comply with specific instructions provided by the client.

16.3. Additional information.[Optional]

LEA 17. Percentage of voting recommendations reviewed (Not Applicable)

LEA 18. Confirmation of votes



18.1. 議決権行使に係る証跡の改善や議決権行使の結果を確認するためのプロジェクトにどのように関与しているのかを記載して下さい。

          In 2017, Ausbil created a new database, which facilitates tracking of historical votes.

18.2. 補足情報 [任意]


LEA 19. Securities lending programme (Private)

LEA 20. Informing companies of the rationale of abstaining/voting against management



20.1. 貴社または貴社に代わって行動するサービスプロバイダーは、議決権の行使に先立って、当該企業に対し懸念等を表明しているかどうか明示してください。

20.2. 貴社や貴社に代わって行動するサービスプロバイダーは、議決を棄権したり、経営陣の提案に反対票を投じる場合に、当該企業にその理由を伝えているかどうかを明示してください。

20.3. Additional information. [Optional]

Ausbil has frequent contact with Australian companies where we discuss any concern with AGM resolutions. Ausbil responds to companies’ request for information about our voting decisions / intentions.


LEA 21. Percentage of (proxy) votes cast

21.1. 貴社やサービスプロバイダーが(代理)投票の指示を発行するマンデートを有している上場株式について、報告年度中に行った投票の割合を記載してください。


100 %


21.2. 一定の株式保有分について議決権を行使しない理由を説明して下さい:

          Ausbil voted on 100% of the applicable resolutions.

21.3. Additional information. [Optional]

LEA 22. Proportion of ballot items that were for/against/abstentions

22.1. あなたの貴社では、貴社や貴社に代わって行動するサービスプロバイダーが出した議決権行使に係る指示を追跡しているかどうか明示してください。

22.2. 貴社または貴社の代理である第3者機関が出した議決権行使に係る指示について投票の割合を記載してください。

93 %
5 %
2 %

22.3. 経営陣の提案に反対票を投じた後にあなたの貴社が取る措置について記載して下さい。

          Ausbil typically engages the company in question before voting on controversial resolutions and often communicates our voting intentions to the company.

22.4. Additional information. [Optional]

LEA 23. Shareholder resolutions (Private)

LEA 24. Examples of (proxy) voting activities (Not Completed)