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Nykredit Realkredit Group

PRI reporting framework 2018

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

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).

Nykredit decides the vote on each individual AGM.

The Nykredit policy is used as a templeplate for the initial screening and voting recommendation from our proxy voting advisor. 

The AGM agenda and the recommendation is then reviewed by internal Nykredit staff. In the case of any issues with the agende items or the recommendation, or if there are any specific issues in our active ownership plans with the company, this is discussed between the ESG-team and the PM-team. The PM-team has the final say unless the issue is related to the ESG-policy. 

If at all possible Nykredit will contact the company before casting votes against management recommendation. If this is not possible or if the issue is lack of compliance with international governance standards Nykredit will take this up with the company in our dialogue as part of our active ownership.

Thus the Nykredit approach is a mix of template screens and a more hands on approach. To our experience this is necessary as the issues change from year to year and especially with ESG-issues other engagement efforts should be taken into account.

 

16.3. Additional information.[Optional]

We use recommendations from proxy voting advisors aligned to our policy and use ESG-reports on top of this, but each vote on each AGM is confirmed or adjusted accordingly by the PM/ESG-team. Annually the voting activities and records are evaluated by the RI-committee as well as by the boards of the mutuals. In this case any adjustments to the policy are discussed as well. 


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


LEA 18. Confirmation of votes

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

18.1. Describe your involvement in any projects to improve the voting trail and/or to obtain vote confirmation .

          We support our proxy advisors efforts to improve this, and we are working with our own depositary services as well.
        

18.2. Additional information. [OPTIONAL]

          
        

LEA 19. Securities lending programme

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

19.1. Indicate if your organisation has a securities lending programme.

19.3. Indicate how voting is addressed in your securities lending programme.


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.

20.3. Additional information. [Optional]

If at all possible Nykredit will contact the company before casting votes against management recommendation. If this is not possible or if the issue is lack of compliance with international governance standards Nykredit will take this up with the company in our dialogue as part of our active ownership.


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