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Edmond de Rothschild Asset Management (France) (EDRAM)

PRI reporting framework 2018

Export Public Responses

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


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。


92 %


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:

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。

75 %
22 %
3 %

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。

          In 2017, there was a large-scale voting activity with the participation in 540 shareholders meetings against  654 in 2016  and  755 in 2015 . With a 25% rate of votes "against" (including abstentions), Edmond de Rothschild Asset Management (France) shows strong stances on themes such as board members election

22.4. Additional information. [Optional]

Edmond de Rothschild Asset Management (France)'s investment decisions are closely linked to the company's longterm prospects and require:

  • the aim to deliver long-term value;
  • deep understanding of economic and financial issues;
  • concern for good governance;
  • the development of a sound and stimulating work environment;
  • efforts to reduce environmental footprint;
  • equitable relations with stakeholders (e.g., clients, suppliers, civil partnership, etc.);
  • management of sustainable development risks and opportunities.

Consequently, concerning the analysis and voting of ESG (Environmental, Social and Governance) resolutions, they are guided by the adherence to these principles and the relevance of proposed solutions to each company's own situation. In involving itself in the social, societal or environmental resolutions proposed by company management or submitted by shareholders, Edmond de Rothschild Asset Management (France) seeks to act in the best interests of the clients who buy its mutual funds.

By way of illustration, Edmond de Rothschild Asset Management (France) is in favour of models for compensating managers that reflect their performances, as defined by an independent compensations committee whose reports are clear and detailed. For environmental resolutions, which are most often submitted by minority shareholders, Edmond de Rothschild Asset Management (France) shall vote systematically in favour of resolutions that call for enhanced disclosure of potential risks.

Finally, note that Edmond de Rothschild Asset Management (France) adapts its criteria to each country's circumstances. With this in mind, the percentage of independent directors required shall be lower for controlled companies.

In accordance with Article 319-21 of the General Rules of the French Financial Markets Authority, Edmond de Rothschild Asset Management (France) has set out in the voting policy how it exercises the voting rights embedded in shares held in all its portfolios

LEA 23. Shareholder resolutions (Private)

LEA 24. Examples of (proxy) voting activities


24.1. 報告年度に貴社またはサービスプロバイダーが実行した(委任状による)議決権行使の例を提供してください。

ESG Factors

Apply the principle "one share one vote"


Cofiled a resolution at Accor's general shareholder meeting


the resolution  gained 52.4% support but required a two-thirds majority to be passed.


24.2. Additional information. [Optional]