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

Prosperity Capital Management

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.

We have a formalised our Voting Policy which integrates ESG matters. We are committed to voting proxies in a manner consistent with the best interests of our clients. Our Voting Policy stipulates that we are active in voting and try to realise all our corporate rights (we vote in over 80% of votes held and keep records of our voting scores).

All voting instructions are made only after the respective recommendation of Corporate Governance Team, which, among other tasks, ensures compliance with the Policy, with no exceptions.

We monitor 100% of corporate actions and vote on ‘significance’ basis, which is defined through:

(a) reasons –related to our top-50 holdings and/or seriously influence our rights/interests as shareholders and/or generally important for ESG and/or

(b) outcomes – improvement of certain ESG issues at an issuer’s level or generally.

For clients who have retained voting rights and discretion in respect of investments, PCM passes on proxy proposals received to the client and/or its custodian together with a recommendation on how votes should be cast.

 

12.3. Additional information.[Optional]

Prosperity generally seeks to vote in the same manner for all PCM funds and mandates.

Prosperity will oppose share issuances that will dilute shareholders without bringing adequate benefits to the investment, interested party transactions which are designed for asset-stripping or transfer of value in favour of majority shareholder(-s) or third parties.

Prosperity was instrumental in steering regulators towards an electronic system for proxy voting.


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


LEA 14. Securities lending programme

14.1. Does your organisation have a securities lending programme?

14.2. Describe why your organisation does not lend securities.

Very limited market.

14.4. Additional information. [Optional]


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]


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]


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%)

90 %

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
72 %
Against (opposing) management recommendations
27 %
Abstentions
1 %
100%

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

10

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.

19.2. Indicate the escalation strategies used at your organisation following abstentions and/or votes against management.

19.3. Additional information. [Optional]


LEA 20. Shareholder resolutions (Private)


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


Top