We consider active participation in the voting process to be an integral part of our investment process and in line with our stewardship objectives. We therefore ensure that our voting decisions are aligned with our clients’ long-term interests and investment objectives.
There is no presumption on our part that we will vote with the board of the investee company. We will abstain or vote against management whenever we believe that the governance and investment objectives of our clients are at risk of compromise. When appropriate, we will inform the company of our voting intentions and give them the opportunity to respond.
We will note the advice of ISS, our proxy voting service provider, but we do not default to following their recommendations. When our clients’ interests are served by voting against management, we will not compromise. We will not fear the impact, for example, of harming our relationship with management if we believe that it is in our clients' interests to vote against a particular proposal.
We vote with respect to all the shares that we manage, except in the small minority of cases where share blocking applies. We believe that our voting record should be transparent, and we periodically publish it on our website.