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Macquarie Asset Management

PRI reporting framework 2019

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(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.

A proxy voting committee oversees the proxy practices of MIM-Americas investment teams.  The committee is responsible for approving exceptions to the proxy voting policy as well as providing review of the overall proxy voting policy and oversight of our proxy voting service provider.

12.3. Additional information.[Optional]

Proxy voting decisions are determined at the division level; therefore there is not a firm-wide approach to making proxy voting decisions.  The answers to question LEA 12 are based on aggregated responses from multiple investment groups and are not applicable to every independent investment team.


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]

The responses provided above represent an aggregate of different practices employed by our independent investment teams and do not necessarily indicate that each team employs all of these practices.


LEA 14. Securities lending programme (Private)


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.

15.2. Indicate the reasons for raising your concerns with these companies ahead of voting.

Explain

          The above response is applicable to those votes where our service provider, ISS, is utilized.
ISS provides copies of ISS draft reports prior to publication. This helps ensure that ISS research and recommendations are based on the most current and accurate information. Even companies that are not eligible to receive a draft are entitled to a copy of the ISS report (free of charge) after it is published. If the company points out any material factual errors in the report, ISS can issue a Proxy Alert to correct those errors up to five business days before the meeting date.
        

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.

16.2. Indicate the reasons your organisation would communicate to companies, the rationale for abstaining or voting against management recommendations.

Explain

          The above response is applicable to those votes where our service provider, ISS, is utilized.
ISS provides copies of ISS draft reports prior to publication. This helps ensure that ISS research and recommendations are based on the most current and accurate information. Even companies that are not eligible to receive a draft are entitled to a copy of the ISS report (free of charge) after it is published. If the company points out any material factual errors in the report, ISS can issue a Proxy Alert to correct those errors up to five business days before the meeting date.
        

16.3. In cases where your organisation does communicate the rationale for the abstention or the vote against management recommendations, indicate whether this rationale is made public.

16.4. Additional information. [Optional]


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%)

99 %

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
92 %
Against (opposing) management recommendations
8 %
Abstentions
0 %
100%

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

0

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 (Private)


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


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