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Genesis Investment Management, LLP

PRI reporting framework 2018

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

(Proxy) voting and shareholder resolutions

Overview

LEA 15. Voting policy & approach

New selection options have been added to this indicator. Please review your prefilled responses carefully.

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.

We view proxy voting as an investment function and all decisions are made by a member of the Investment Team. For those clients who have given us authority to vote their shares, we aim to vote all of their shares in all markets.  We provide feedback to boards and management on significant voting matters where appropriate and this in turn informs our ongoing investment strategy and company engagements.  We provide detailed reports to clients on voting activities and our voting record is made publicly available on our website.


Process

LEA 16. Typical approach to (proxy) voting decisions

16.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

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).

We have set out proxy voting guidelines for our Investment Team and these guidelines are applied across 30+ countries and many sectors.  Whenever we vote against management, a summary of the reasoning is included and this summary also appears in the reports provided to our clients.

16.3. Additional information.[Optional]

Genesis has contracted with Institutional Shareholder Services, Inc. (ISS), an independent third-party provider of proxy voting and corporate governance services. Specifically, ISS has been retained to provide proxy research and recommendations, execute votes as instructed by Genesis and keep various records necessary for tracking proxy voting materials and proxy voting actions taken for our clients’ accounts.  ISS services, performance and potential conflicts of interest are reviewed on a periodic basis.

 

ISS recommendations are one form of external research which is factored into the decision-making process by our Investment Team. We analyse each voting issue independently and do not necessarily vote in line with company management or the ISS recommendations.


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


LEA 18. Confirmation of votes (Private)


LEA 19. Securities lending programme (Private)


LEA 20. 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.

20.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

20.2. 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.

          Where appropriate, in connection with material voting issues and in particular where we vote against management, we will contact the company to explain our decision-making process and promote best practice.
        

20.3. Additional information. [Optional]

If sufficient information is not included in the proxy materials, we will often contact the company directly for clarifiation.


Outputs and outcomes

LEA 21. Percentage of (proxy) votes cast

21.1. 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%)

96 %

Specify the basis on which this percentage is calculated

21.2. Explain your reason(s) for not voting certain holdings

21.3. Additional information. [Optional]


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

22.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

22.2. 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
90.4 %
Against (opposing) management recommendations
6.4 %
Abstentions
3.2 %
100%

22.3. Describe the actions you take in relation to voting against management recommendations.

          Where appropriate, in connection with material voting issues and in particular where we vote against management, we will contact the company to explain our decision-making process and promote best practice.
        

22.4. Additional information. [Optional]


LEA 23. Shareholder resolutions (Private)


LEA 24. Examples of (proxy) voting activities (Private)


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