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La Française Group

PRI reporting framework 2019

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

(Proxy) voting and shareholder resolutions

LEA 12. Typical approach to (proxy) voting decisions

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

Approach

Based on

12.2. 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.

La Française AM, together with IPLF (Inflection Point by La Française), has developed a custom Voting Policy. This Voting Policy incorporates the ISS Sustainability Policy and special instructions for (i) CDP (ex Carbon Disclosure Project) non-disclosure, (ii) lack of Board diversity and (iii) lack of shareholdings by the Chief Executive. 

La Française AM’s objective is to vote all resolutions at AGMs and EGMs. The fund manager can review and amend all voting instructions before submission. The vote execution is conducted by Institutional Shareholder Services (ISS).

LFAM and IPLF receive pre-set alerts on specific topics, in particular shareholder resolutions and ESG-specific resolutions, especially if they are not covered by the Voting Policy. IPMF can then provide information to the fund manager  and offer voting recommendations on these topics.

12.3. Additional information.[Optional]

The voting policy of LFAM is available at:

https://www.la-francaise.com/fileadmin/docs/Actualites_reglementaires/Politique_de_vote_LFAM.pdf 


LEA 13. Percentage of voting recommendations reviewed

13.1. Of the voting recommendations that your service provider made in the reporting year, indicate the percentage reviewed by your organisation, giving reasons.

Percentage of voting recommendations your organisation reviewed

Reasons for review

13.2. Additional information [Optional]


LEA 14. Securities lending programme

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

14.2. Describe why your organisation does not lend securities.

We do not lend securities to allow portfolio managers to immediately react to new information including divestment decisions.

14.4. Additional information.


LEA 15. Informing companies of the rationale of abstaining/voting against management

15.1. Indicate the proportion of votes where you or the service providers acting on your behalf have raised concerns with companies ahead of voting.

15.3. Additional information. [Optional]


LEA 16. Informing companies of the rationale of abstaining/voting against management

16.1. Indicate the proportion of votes participated in within the reporting year in which, you and/or the service provider(s) acting on your behalf, have communicated to companies the rationale for abstaining or voting against management recommendations.

16.4. Additional information. [Optional]

To be noted: the reason for voting against is published on our website.


LEA 17. Percentage of (proxy) votes cast

17.1. 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%)

98 %

Specify the basis on which this percentage is calculated

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

17.3. Additional information. [Optional]


LEA 18. Proportion of ballot items that were for/against/abstentions

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

18.2. 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
79 %
Against (opposing) management recommendations
20 %
Abstentions
1 %
100%

18.3. In cases where your organisation voted against management recommendations, indicate the percentage of companies you have engaged.

18.4. Additional information. [Optional]


LEA 19. Proportion of ballot items that were for/against/abstentions

19.1. Indicate whether your organisation has a formal escalation strategy following unsuccessful voting.

19.3. Additional information. [Optional]


LEA 20. Shareholder resolutions

20.1. Indicate if your organisation directly or through a service provider filed or co-filed any ESG shareholder resolutions during the reporting year.

20.6. Describe whether your organisation reviews ESG shareholder resolutions filed by other investors.

We systematically reviews ESG shareholder resolutions filed by other investors. We are using the ISS voting platform and we have established a process that alerts the Inflection Point team about any ESG-related resolutions and any shareholder resolutions.

In cases where we would disagree with the ISS voting recommendation the Inflection Point analysts submits an assessment to the portfolio manager for discussion. The portfolio manager can then overwrite the ISS recommendation.

20.7. Additional information. [Optional]


LEA 21. Examples of (proxy) voting activities (Not Completed)


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