This report shows public data only. Is this your organisation? If so, login here to view your full report.

Generation Investment Management LLP

PRI reporting framework 2020

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 that your agreed-upon voting policy is adhered to, giving details of your approach when exceptions to the policy are made.

We use ISS as our proxy voting platform, but we our analysts are responsible for voting decisions, although they have access to the research of ISS. We are fortunate that analysts believe in being responsible shareholders and are supported and held accountable by their colleagues. This means that we do not need to have a process to enforce it as our investment process is self-regulating.

12.3. Additional information.[Optional]


LEA 13. Percentage of voting recommendations reviewed (Not Applicable)


LEA 14. Securities lending programme

14.1. Does your organisation have a securities lending programme?

14.2. Describe why your organisation does not lend securities.

We do not stock lend from any of the Generation pooled funds. Where our segregated account clients have made arrangements to stock lend from their own portfolios and have requested us to vote their proxies, and specifically in instances where we are choosing to vote against management, we can, on a best endeavours basis, work with their stock lending agent to recall lent stock in order to vote.

14.4. Additional information. [Optional]


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

15.1. Indicate the proportion of votes participated in within the reporting year in which where you or the service providers acting on your behalf 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 where you, and/or the service provider(s) acting on your behalf, communicated the rationale to companies for abstaining or voting against management recommendations. Indicate this as a percentage out of all eligible votes.

16.3. In cases where your organisation does communicate the rationale for abstaining or voting 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 in which you 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%)

91 %

Specify the basis on which this percentage is calculated

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

While we endeavor to vote 100% of our proxies, a proportion of votes were not cast as a result of operational issues. We have reviewed the issues and implemented changes in order to mitigate the risk of this happening in future.

 

17.3. Additional information. [Optional]


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

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

18.2. Of the voting instructions that you and/or third parties on your behalf have issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
96 %
Against (opposing) management recommendations
3 %
Abstentions
1 %
100%

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

100

18.4. Additional information. [Optional]

For votes against management, these were mostly related to director elections. 


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

20.7. Additional information. [Optional]


LEA 21. Examples of (proxy) voting activities

21.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

ESG Topic
Diversity
Conducted by
Objectives

Shareholder resolution regarding the estalishment of a report including diversity metrics.

Scope and Process

We voted for the resolution and also engaged with the management team and will continue to do so over the course of 2020.

Outcomes
ESG Topic
General ESG
Conducted by
Objectives

Shareholder resolution on reporting on sustainability report.

Scope and Process

We voted in favour of the resolution (against management).

Outcomes
ESG Topic
Executive Remuneration
Conducted by
Objectives

Vote regarding approval of executives compensation.

Scope and Process

We voted against management.

Outcomes

21.2. Additional information. [Optional]

As discussed, our voting occurs in tandem with engagement. Our objective is to enforce our views via our voting, sending a signal to both the company and other shareholders.


Top