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BT Financial Group

PRI reporting framework 2020

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

(委任状による)議決権行使および株主決議

LEA 12. Typical approach to (proxy) voting decisions

12.1. (委任状による)議決権行使を通常どのように決定しているかを明示して下さい。

アプローチ

以下に基づいて行う

          We review our investment managers' proxy voting policies for alignment with our stewardship policy. For contentious issues, we may decide how to vote across holdings.
        

12.2. 合意された議決権ポリシーがどのように遵守されているかを概観し、ポリシーの例外が適用された場合(該当する場合)のアプローチの詳細を示してください。

Decisions on how to vote proxies will be made on a company-by-company and resolution-by-resolution basis. Where appropriate and practical to do so, we will seek to cast votes in accordance with the voting principles in the BT Stewardship Policy via our own direct voting activities or through the exercise of voting rights by our external investment managers.

The proxy voting principles detailed in the BT Stewardship Policy apply to Australian and international securities, however consideration may also be given to local market best practice. The overriding principle is that votes are exercised in the long-term best interests of customers.

We provide authority to investment managers to exercise any right to vote attached to a security. From time to time we may direct external investment managers how to vote under certain circumstances or may restrict an investment manager from voting. In the absence of any direction or restriction from us, external investment managers must vote according to their own proxy voting policies, in the long-term best interests of customers. We will review our investment managers’ proxy voting policies for consistency with the BT Stewardship Policy. If an inconsistency arises, we may accept an investment manager’s policy with reasonable explanation for the differences and their application, or alternatively require the manager to exercise voting rights according to the BT Stewardship Policy.Where an investment manager elects not to vote, the investment manager is expected to keep records demonstrating the rationale for such a decision and only not vote for a good reason.

Resolutions involving contentious issues will generally be considered by the BT investment team and applied across the options issued by BT entities where we act as investment manager. To assist in decision-making, we may seek the views of our external investment managers, may conduct research internally, may use the resources of external advisory services and may meet with the company subject to the vote. In the event that we give a direction to external investment managers in relation to the appointment of a proxy and the way in which the proxy should be voted, the investment manager must use its best endeavours to implement the direction. If a voting situation arises that is not covered by either the external investment manager’s policy or the BT Stewardship Policy, and no direction has been given, the investment manager must vote as if it were a fiduciary investing for the long-term (over 10 years). The external investment manager may also contact the BT investment team to agree an approach.

12.3. 補足情報[任意]


LEA 13. Percentage of voting recommendations reviewed

13.1. 報告年度において貴社のサービスプロバイダーが行った議決権行使に関する提言の中で、貴社が検討したものの割合およびその理由を記載してください。

貴社が検討した議決権行使の推奨の割合

検討した理由

その他(説明してください)

          Other contentious issues, e.g. remuneration, director elections
        

13.2. 補足情報[任意]


LEA 14. Securities lending programme (Private)


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

15.1. 報告年度内に関与した議決権行使のうち、貴社、または貴社の代理を務めるサービスプロバイダーが議決権行使に先立って企業に懸念を表明したものの割合を示してください。

15.2. これらの企業に対し、議決権行使に先立って懸念を表明した理由を示してください。

15.3. 補足情報 [任意]


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

16.1. 貴社または貴社の代理を務めるサービスプロバイダーが、議決権行使を棄権する場合、または経営陣の提案に反対票を投じる場合に、当該企業にその根拠を伝えた議決権の割合を示してください。これは行使可能な全議決権の中で占める割合とします。

16.2. 貴社が議決権行使を棄権する場合、または経営陣の提案に反対票を投じる場合に、企業にその根拠を伝える理由を示してください。

16.3. 貴社が議決権行使を棄権するまたは経営陣の提案に反対票を投じる根拠を伝える場合、この根拠を公表しているか示してください。

16.4. 補足情報[任意]


LEA 17. Percentage of (proxy) votes cast

17.1. 貴社やサービスプロバイダーが(代理)投票の指示を発行するマンデートを有している上場株式について、報告年度中に行った投票の割合を記載してください。

1%単位の投票率

96 %

この投票率の計算基準を明記してください

17.2. 一定の株式保有分について議決権を行使しない理由を説明して下さい:

17.3. 補足情報[任意]


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

18.1. 貴社または貴社の代理を務めるサービスプロバイダーが出した議決権行使に係る指示を追跡しているか示してください。

18.2. 貴社または貴社の代理を務める第三者が出した議決権行使に係る指示のうち、各投票項目の占める割合を示してください。

議決権行使に係る指示の対象
投票の内訳(%)
経営陣の提案に対する賛成票
89 %
経営陣の提案に対する反対票
10 %
棄権
1 %
100%

18.3. 貴社が経営陣の提案に対する反対票を投じたケースにおいて、貴社がエンゲージメントを行った企業の占める割合を示してください。

18.4. 補足情報 [任意]

Some of our investment managers will engage with companies prior to an annual general meeting, or before the notice of meeting has been prepared. 

Figures provided above repesent majority of our managers, and are indicative of total votes cast. 


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

19.1. 不首尾に終わった議決権行使後の正式なエスカレーション戦略が貴社にあるか示してください。

19.3. 補足情報 [任意]


LEA 20. Shareholder resolutions (Private)


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


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