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

UEthical

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.

Voting decisions are reviewed and discussed by the team formally at the fortnightly Portfolio Management Meeting, which is minuted. Furthermore, voting decisions are recorded internally on the Voting Register, reviewed on a quarterly basis by the Board Investment Committee, and audited on an annual basis. 

12.3. Additional information.[Optional]


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.

15.3. Additional information. [Optional]

It is our policy to engage with companies prior to casting our votes. Due to a lack of resource and team restructure throughout 2019, many engagements were held after the event to inform companies of how we voted and why. 

 


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]

Engagement principles:

We will strive to write to domestic companies soon after investing to inform them of our values, ethical investment policy, and voting policy and guidelines. Throughout the voting season, U Ethical will aim to engage with companies as and when we feel that we can genuinely effect positive change.
Board diversity - Whilst our board diversity expectations are not explicitly outlined in the voting policy, diversity is a material factor to U Ethical which we champion in our advocacy efforts. We will use our power as shareholders to vote and engage with companies who do not meet the ACSI recommended 30% female diversity threshold, following the process outlined in our engagement principles.

Shareholder resolutions – U Ethical votes all shareholder resolutions, considering each on a case by case basis in relation to the U Ethical values and ensuring they are in the best interests of our clients. Where votes are cast against management, U Ethical will aim to write to the company to outline our votes cast, and why.


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%)

96 %

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 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
76.44 %
Against (opposing) management recommendations
23.56 %
Abstentions
0 %
100%

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

5

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 (Private)


Top