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APG Asset Management

PRI reporting framework 2018

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Overview

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.

The right to vote is an essential part of a well-functioning corporate governance system and APG therefore exercises this right, wherever possible, at all companies in which it invests. Voting decisions are primarily based on investment considerations. When deciding how to vote, APG takes into account the specific context and market in which the company is domiciled.

The underlying principles of the voting policy are:

  • Optimise returns for shareholders
  • Accountability
  • Transparency
  • One share, one vote
  • Informed votes

We work with our proxy research provider to implement APG's detailed voting policy for the majority of company meetings via their electronic voting platform. We have centralised voting activities in-house to ensure that votes are consistent across all funds in order to send one single message to companies. APG actively seeks input from external managers when voting in markets where they have specialist expertise.

APG actively votes on shareholder proposals. We carefully consider every proposal and support proposals we believe are in the interest of the company and its shareholders. In general, APG supports resolutions that seek to generate greater transparency and accountability about how companies address key environmental and social issues, and/or bring corporate governance into line with best practices.


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