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

de Pury Pictet Turrettini & Cie

PRI reporting framework 2020

Export Public Responses
Pdf-img

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

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。

Voting provides our portfolio managers with valuable information about the quality of a company’s governance. It is also a necessary first step before engaging with the management. Few professionals would deny that the skills, independence and availability of a board of directors are critical to a company’s future. The effects of a capital increase, for example, will be felt immediately. For PPT, exercising the right to vote is first and foremost a financial responsibility.
 
The Cadmos portfolio managers define their voting positions by studying the analyses of annual general meetings (AGMs) and the voting recommendations supplied by various proxy advisory firms. They have the rights and the duty to deviate from the proxy’s recommendations, should they find that these do not take full account of the companies’ business models and particularities or do not correspond to their respective internal voting guidelines, which are available on request. For the European, Swiss and the Peace Investment Fund, the selected proxy advisor is Glass Lewis. This independent agency is a leading provider of governance assessment and voting advice and covers more than 23,000 companies in more than a hundred countries. It can supply consistent assessments throughout all the countries represented in the Fund. For the Cadmos Emerging Markets Engagement Fund, Comgest works with Institutional Shareholder Services (ISS) and benefits from its global reach: ISS has nineteen offices worldwide and an experienced research team fluent in twenty-five languages.

12.3. 補足情報[任意]

Portfolio managers exercise their votes directly based on internal guidelines.


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


LEA 14. Securities lending programme

14.1. 貴社では、セキュリティーズレンディングを設定していますか?

14.2. 貴社がセキュリティーズレンディングをしていない理由を説明してください。(最大500語)

Securities Lending is not authorised within the Cadmos Funds.

We have developed a proprietary ESG investment strategy called "Buy & Care".

Please refer to the methodology and results as described within our integrated performance reports: https://www.ppt.ch/buycare/ 

Since 2006, Cadmos has succeeded in simultaneously delivering financial performance and tangible impact. It has done so by engaging with the portfolio companies and helping them to integrate their most material environmental, social and governance (ESG) topics into their corporate strategy. The Cadmos performance and impact report shows that all the Cadmos Funds have outperformed their benchmarks since 2006 and that in 170 cases, companies have implemented our progress recommendations.

The portfolio managers’ participation in the engagement meetings together with our sustainability experts who together formulate progress recommendations remains Cadmos’ unique selling proposition. Through this dialogue, the portfolio managers obtain a deeper insight into the sustaina- bility of each company’s business model while creating additional social impacts potentially contributing to the 17 UN Sustainable Development Goals (SDG’s).

Our engagement goes well beyond simple dialogue with the company’s management. Each year we make clear progress recommendations and provide a thorough analysis of the gaps in the reporting.

Voting provides our portfolio managers with valuable information about the quality of a company’s governance. It is also a necessary first step before engaging with the management. Few professionals would deny that the skills, independence and availability of a board of directors are critical to a company’s future. The effects of a capital increase, for example, will be felt immediately. For PPT, exercising the right to vote is first and foremost a financial responsibility.

14.4. 補足情報 [任意]


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]

Mainly due to lack of transparency or poor reporting.


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]

Our rationale for voting against management is made public at a fund level. For individual companies, this infomratoin is avaible to our investors only or on demand.


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

99 %

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
90.25 %
経営陣の提案に対する反対票
9.75 %
棄権
00 %
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。

80

18.4. 補足情報 [任意]

We have developed a proprietary ESG investment strategy called "Buy & Care".

Please refer to the methodology and results as described within our integrated performance reports:

https://ppt.ch/en/cadmos/buyandcare/


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。

19.2. 棄権後、または経営陣に反対する票を投じた後に貴社が用いるエスカレーション戦略を示してください。

19.3. 補足情報 [任意]

All of the above can be actionated on a case by case basis.


LEA 20. Shareholder resolutions (Private)


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


Top