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Service Providers Framework 2020

You are in Active Ownership Services » Voting


AOS 11. ESG in voting recommendations

11.1. Describe how ESG factors are taken into consideration in voting recommendations.

          The exercising of shareholder and creditor rights by the capital management company is part of the proper management of investment funds. The decisive decision criterion for Universal-Investment for exercising or not exercising voting rights according to the BVI rules of conduct is the interests of the investors and the integrity of the market as well as the benefits for the investment fund concerned and its investors according to Regulation (EU) 231/2013. Universal-Investment also uses the “analysis guidelines for shareholder meetings” of the BVI which is considered ESG compliant as the basis for its voting behaviour.This industry standard lays the foundation for a responsible handling of investors' capital and rights. This industry standard is aligned with the interests of investment funds managed by Universal-Investment and is therefore generally applied to all investment funds, unless it is necessary to deviate from these voting rights guidelines for individual investment funds in the interest of investors, market integrity or the benefit to the relevant investment fund.

11.2. Additional information [OPTIONAL]


AOS 12. Raising concerns with companies ahead of voting (Private)

AOS 13. Voting against management

13.1. Indicate the proportion of votes where you have communicated the rationale to companies when you, on behalf of your clients, abstain or vote against management proposals.

13.3. Additional information [OPTIONAL]


AOS 14. Monitoring voting outcomes

14.1. Describe how you monitor voting outcomes.

          The voting is done through our service provider Hauck & Aufhäuser who also monitor that the execution is in line with our recommendation. We then receive a confirmation of the vote from our service provider.

14.2. Describe how you typically decide what recommendations for next steps to give to clients.

14.3. Additional information [OPTIONAL]

AOS 15. Mechanisms for clients to review voting recommendations

15.1. Indicate whether you have formal mechanisms in place for clients to review your voting recommendations.

15.3. Additional information [OPTIONAL]

Information is available but not tracked, since the voting was conducted manually in 2019.

AOS 16. Involvement in projects to improve voting trail and obtaining confirmation

16.1. Describe your involvement in any project to improve the voting trail and/or to obtain vote confirmation for your clients.

Currently, we are in the process of adjusting our voting process in line with ARUG II.

16.2. Additional information [OPTIONAL]