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Mazi Asset Management (Pty) Ltd

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.

Proxies are filled by the company analyst and the portfolio manager using our proxy voting policy as a  guideline. We provide detailed feedback on proxy voting to clients on request.

12.3. Additional information.[Optional]

We are active shareholders and vote on behalf of our clients where relevant.


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


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 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.

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

Explain

          We engage frequently with company management. If we have any concerns about any ESG issues we would not wait for a proxy voting opportunity to express our concerns. We would endeavour to address our concerns as soon as possible. Examples would be remuneration policies. If we feel that a published remuneration policy is not aligned with shareholder value we would address this concern with management. We would not just wait for the proxy voting opportunity to vote against the policy.
        

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.

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

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]

We are finding that clients increasingly are requesting proxy voting reporting including reporting on reasons why we voted against resolutions or abstained.


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.

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

We aim to vote in all instances.

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.

18.4. Additional information. [Optional]

Since we regularly engage with management we ensure that we voice our concerns on recommendations that we do not agree with.


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]

Whilst we do not have a formal escalation strategy we would escalate issues where relevant and when our concerns cannot be addressed by management we may decide to disinvest from a company.


LEA 20. Shareholder resolutions (Private)


LEA 21. Examples of (proxy) voting activities (Private)


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