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IMPORTANT NEWS: Transition of investment management responsibilities
First Sentier Group, the global asset management organisation, has announced a strategic transition of Stewart Investors' investment management responsibilities to its affiliate investment team, FSSA Investment Managers, effective Friday, 14 November close of business EST.
Voting
We vote on all proposals at annual and extraordinary general meetings.
Voting policy and guidelinesAs active investors and long-term shareholders, we vote on all proposals at annual and extraordinary general meetings. Our decision-making is an inclusive process and every analyst is given the chance to make recommendations.
Our voting decisions are not outsourced. We do look at the advice from third-party sources but we come to our decisions independently on the individual merits of the issues.
We understand that voting against management proposals is one of the tools we have in our interactions with companies, but it is a blunt one. We would rather talk to companies about our concerns as part of the engagement process than go down this route.
If our engagement is effective there should be no need to vote against proposals, but we won’t vote in favour of things we disagree with if there is no commitment to change. In that sense a contrary vote is part of our wider engagement process, and we will follow up with companies to explain our reasoning in a more nuanced way than is possible through a binary yes/no ballot.
The types of issues we vote against most often include overly complex management remuneration packages, a curtailment of minority shareholder rights, and director appointments where we don’t think the candidate has the right character or skills.
Should you wish to see a full list of all voting for the companies held in a strategy, please contact us directly.
A voting tool is also available on the FSI website.
Please contact us to find out more.
An affiliate of First Sentier Group
This website is for institutional investors only.
The website is issued by First Sentier Investors (Singapore) whose company registration number is 196900420D and has not been reviewed by the Monetary Authority of Singapore. First Sentier Group (registration number 53507290B), First Sentier Investors (registration number 53236800B), and Stewart Investors (registration number 53310114W) are business names of First Sentier Investors (Singapore).
Where we use the word affiliate, we are describing investment teams that form part of the First Sentier Group – the legal structure of our affiliate investment teams varies – some affiliates are separate legal entities, some are not.
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