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.