Voting is one of the cornerstones of our stewardship approach. The exercise of our right to vote is one of the most effective tools we have for holding boards to account and encouraging good governance.
We vote globally on all of our listed investments. Our voting is guided by our UK Voting and Engagement Policy – which is broadly aligned with the UK Corporate Governance Code and Global Stewardship Principles.
We form an independent decision on voting on a case by case basis. We take into account proxy research, the outcomes from engagement meetings, discussions with peers and our portfolio managers’ perspectives. When voting on companies outside the UK, we seek to take account of local practice by engaging local research providers, participating in regional corporate governance forums and working with other institutional investors investing in that market.
Whenever we vote against a resolution, we write to the company to explain our concerns. We see this as an important way of providing feedback as part of our ongoing dialogue with our investee companies.
In accordance with best practice, we publish a list of global equity holdings and voting records. Our voting disclosures tool is currently being amended and we aim to have it back online as soon as possible.