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SchrodersVoting, December 2016
Schroders is required to publish records of voting in order to achieve compliance with the UK
Stewardship Code. According, voting in accordance with our house policy is set out on the following pages.
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
CNOOC Ltd.
Meeting Date: 12/01/2016 Country: Hong Kong
Meeting Type: Special Ticker: 883
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Non-exempt Continuing Connected Transactions
1
For For Approve Proposed Caps for Each Category of the Non-exempt Continuing Connected
Transactions
2
Hotel Chocolat Group Plc
Meeting Date: 12/01/2016 Country: United Kingdom
Meeting Type: Annual Ticker: HOTC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Elect Andrew Gerrie as Director 3
For For Elect Peter Harris as Director 4
For For Elect Matthew Margereson as Director 5
For For Elect Matthew Pritchard as Director 6
For For Elect Angus Thirlwell as Director 7
For For Elect Sophie Tomkins as Director 8
For For Appoint BDO LLP as Auditors and Authorise
Their Remuneration
9
For For Authorise Issue of Equity with Pre-emptive
Rights
10
For For Authorise Issue of Equity without Pre-emptive
Rights
11
For For Authorise Market Purchase of Ordinary Shares 12
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Hyprop Investments Ltd
Meeting Date: 12/01/2016 Country: South Africa
Meeting Type: Annual Ticker: HYP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports for the Year Ended 30 June 2016
For For
For For Re-elect Pieter Prinsloo as Director 2
For For Re-elect Lindie Engelbrecht as Director 3
For For Re-elect Mike Lewin as Director 4
For For Re-elect Lindie Engelbrecht as Chairperson of the Audit Committee
5.1
For For Re-elect Gavin Tipper as Member of the Audit Committee
5.2
For For Re-elect Thabo Mokgatlha as Member of the Audit Committee
5.3
For For Appoint KPMG as Auditors of the Company with Peter MacDonald as Engagement Partner
6
For For Place Authorised but Unissued Shares under Control of Directors
7
For For Authorise Board to Issue Shares for Cash 8
For For Approve Remuneration Policy 9
For For Authorise Repurchase of Issued Share Capital 1
For For Approve Financial Assistance to Related and Inter-related Parties
2
For For Approve Non-executive Directors' Fees 3.1
For For Approve the Annual Increase Not Exceeding Inflation of Non-executive Directors' Fees
3.2
For For Authorise Ratification of Approved Resolutions 10
Myriad Genetics, Inc.
Meeting Date: 12/01/2016 Country: USA
Meeting Type: Annual Ticker: MYGN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Mark C. Capone For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Myriad Genetics, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Heiner Dreismann 1.2
Against For Amend Omnibus Stock Plan 2
Voter Rationale: Potential to accelerate vesting
For For Ratify Ernst & Young LLP as Auditors 3
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
4
Voter Rationale: Pay for performance disconnect
Revolution Bars Group plc
Meeting Date: 12/01/2016 Country: United Kingdom
Meeting Type: Annual Ticker: RBG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Keith Edelman as Director 4
For For Re-elect Michael Shallow as Director 5
For For Re-elect Mark McQuater as Director 6
For For Elect Chris Chambers as Director 7
For For Reappoint KPMG LLP as Auditors 8
For For Authorise Board to Fix Remuneration of Auditors 9
For For Authorise EU Political Donations and
Expenditure
10
For For Authorise Issue of Equity with Pre-emptive
Rights
11
For For Authorise Issue of Equity without Pre-emptive
Rights
12
For For Authorise Issue of Equity without Pre-emptive
Rights
13
For For Authorise Market Purchase of Ordinary Shares 14
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
15
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Singapore Press Holdings Limited
Meeting Date: 12/01/2016 Country: Singapore
Meeting Type: Annual Ticker: T39
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Adopt Financial Statements and Directors' and Auditors' Reports
For For
For For Approve Final Dividend and Special Dividend 2
For For Elect Lee Boon Yang as Director 3.1
For For Elect Chong Siak Ching as Director 3.2
For For Elect Tan Chin Hwee as Director 3.3
For For Elect Janet Ang Guat Har as Director 3.4
For For Elect Ng Yat Chung as Director 4
For For Approve Directors' Fees 5
For For Approve Auditors and Authorize Board to Fix Their Remuneration
6
For For Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights
7.1
For For Authorize Share Repurchase Program 7.2
For For Adopt SPH Performance Plan 2016 and Approve Grant of Awards and Issuance of Shares Under
the Plan
7.3
For For Adopt New Constitution 7.4
St Ives plc
Meeting Date: 12/01/2016 Country: United Kingdom
Meeting Type: Annual Ticker: SIV
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Reappoint Deloitte LLP as Auditors 4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
St Ives plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Board to Fix Remuneration of Auditors 5
For For Re-elect Matt Armitage as Director 6
For For Re-elect Brad Gray as Director 7
For For Re-elect Mike Butterworth as Director 8
For For Re-elect Ben Gordon as Director 9
For For Elect Nigel Pocklington as Director 10
For For Re-elect Helen Stevenson as Director 11
For For Re-elect Richard Stillwell as Director 12
For For Authorise Issue of Equity with Pre-emptive
Rights
13
For For Authorise Issue of Equity without Pre-emptive
Rights
14
For For Authorise Issue of Equity without Pre-emptive
Rights
15
For For Authorise Market Purchase of Ordinary Shares 16
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
17
The Brighton Pier Group PLC
Meeting Date: 12/01/2016 Country: United Kingdom
Meeting Type: Annual Ticker: PIER
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 2
For For Elect Anne Martin as Director 3
For For Elect Joseph Tager as Director 4
For For Appoint Grant Thornton UK LLP as Auditors 5
For For Authorise Board to Fix Remuneration of Auditors 6
For For Authorise Issue of Equity with Pre-emptive Rights
7
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
The Brighton Pier Group PLC Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Issue of Equity without Pre-emptive
Rights
8
African Rainbow Minerals Ltd
Meeting Date: 12/02/2016 Country: South Africa
Meeting Type: Annual Ticker: ARI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Re-elect Frank Abbott as Director For For
For For Re-elect Tom Boardman as Director 2
For For Re-elect Mangisi Gule as Director 3
For For Reappoint Ernst & Young Inc as Auditors of the Company with Lance Tomlinson as the Designated Auditor
4
For For Re-elect Tom Boardman as Member of the Audit and Risk Committee
5.1
Against For Re-elect Frank Abbott as Member of the Audit and Risk Committee
5.2
Voter Rationale: Lack of independent representation on the board/key committees.
For For Re-elect Dr Manana Bakane-Tuoane as Member of the Audit and Risk Committee
5.3
For For Re-elect Anton Botha as Member of the Audit and Risk Committee
5.4
For For Re-elect Alex Maditsi as Member of the Audit and Risk Committee
5.5
For For Re-elect Dr Rejoice Simelane as Member of the Audit and Risk Committee
5.6
Against For Approve Remuneration Policy 6
Voter Rationale: Lack of disclosure around bonus targets.
For For Approve Increase in the Annual Retainer Fees
for Non-executive Directors
7
For For Approve Increase in Committee Attendance
Fees for Non-executive Directors
8
DFS Furniture plc
Meeting Date: 12/02/2016 Country: United Kingdom
Meeting Type: Annual Ticker: DFS
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
DFS Furniture plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Final Dividend 2
For For Approve Remuneration Report 3
For For Re-elect Richard Baker as Director 4
For For Re-elect Ian Filby as Director 5
For For Elect Nicola Bancroft as Director 6
For For Re-elect Luke Mayhew as Director 7
For For Re-elect Gwyn Burr as Director 8
For For Re-elect Julie Southern as Director 9
For For Reappoint KPMG LLP as Auditors 10
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
11
For For Authorise Issue of Equity with Pre-emptive
Rights
12
For For Authorise Issue of Equity without Pre-emptive
Rights
13
For For Authorise Issue of Equity without Pre-emptive
Rights
14
For For Authorise Market Purchase of Ordinary Shares 15
For For Authorise the Company to Call EGM with Two
Weeks' Notice
16
For For Authorise EU Political Donations and
Expenditure
17
Earthport plc
Meeting Date: 12/02/2016 Country: United Kingdom
Meeting Type: Annual Ticker: EPO
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For Against
Voter Rationale: One off retention payment to CEO with no performance targets.
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Earthport plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect Hank Uberoi as Director 2
For For Re-elect Vinode Ramgopal as Director 3
For For Elect Simon Adamiyatt as Director 4
For For Elect John McCoy as Director 5
For For Reappoint RSM UK Audit LLP as Auditors and
Authorise Their Remuneration
6
For For Authorise Issue of Equity with Pre-emptive
Rights
7
For For Authorise Issue of Equity without Pre-emptive
Rights
8
Performance Food Group Co.
Meeting Date: 12/02/2016 Country: USA
Meeting Type: Annual Ticker: PFGC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director George L. Holm For Withhold
Voter Rationale: Board adopted adverse charter and bylaw provisions and has not submitted the provisions to the vote.
Withhold For Elect Director Arthur B. Winkleblack 1.2
Voter Rationale: Board adopted adverse charter and bylaw provisions and has not submitted the provisions to the vote.
Withhold For Elect Director John J. Zillmer 1.3
Voter Rationale: Board adopted adverse charter and bylaw provisions and has not submitted the provisions to the vote.
For For Ratify Deloitte & Touche LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
One Year One Year Advisory Vote on Say on Pay Frequency 4
President Energy plc
Meeting Date: 12/02/2016 Country: United Kingdom
Meeting Type: Special Ticker: PPC
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
President Energy plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorise Issue of Equity Pursuant to the Placing, Subscription and the Loan Restructuring
For For
For For Authorise Issue of Equity without Pre-emptive Rights Pursuant to the Placing, Subscription and the Loan Restructuring
2
For For Authorise Issue of Equity with Pre-emptive
Rights
3
For For Authorise Issue of Equity without Pre-emptive
Rights
4
PT Indocement Tunggal Prakarsa Tbk
Meeting Date: 12/02/2016 Country: Indonesia
Meeting Type: Special Ticker: INTP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Director and Commissioners For For
Severstal PJSC
Meeting Date: 12/02/2016 Country: Russia
Meeting Type: Special Ticker: SVST
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Interim Dividends for First Nine Months
of Fiscal 2016
For For
Severstal PJSC
Meeting Date: 12/02/2016 Country: Russia
Meeting Type: Special Ticker: SVST
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Severstal PJSC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Interim Dividends for First Nine Months
of Fiscal 2016
For For
Banco BTG Pactual SA
Meeting Date: 12/05/2016 Country: Brazil
Meeting Type: Special Ticker: BBTG11
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Ratify Board Composition and Elect Marcelo Kalim as Chairman of the Board
For For
For For Amend Article Re: CEO 1.2
For For Elect Guillermo Ortiz Martinez as Director 2
For For Amend Article 5 to Reflect Changes in Capital 3
For For Eliminate Class C, Class D and Class E Preferred Shares and Remove Article 58 of the Company's
Bylaws
4
For For Amend Article 14 5
For For Amend Articles 29 and 31 6
For For Consolidate Bylaws 7
Cashbuild Limited
Meeting Date: 12/05/2016 Country: South Africa
Meeting Type: Annual Ticker: CSB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Auditors' Report For For
For For Accept Financial Statements and Statutory
Reports for the Year Ended 30 June 2016
2
For For Re-elect Hester Hickey as Director 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Cashbuild Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect Dr Simo Lushaba as Director 4
For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company with I Buys as the Audit Partner
5
For For Re-elect Nomahlubi Simamane as Member of
the Audit and Risk Committee
6.1
For For Re-elect Dr Simo Lushaba as Member of the
Audit and Risk Committee
6.2
For For Re-elect Hester Hickey as Member of the Audit
and Risk Committee
6.3
For For Approve Remuneration Policy 7
For For Approve Remuneration of Non-Executive
Directors
8
For For Approve Financial Assistance in Terms of
Section 45 of the Companies Act
9
For For Amend Memorandum of Incorporation 10
Coloplast A/S
Meeting Date: 12/05/2016 Country: Denmark
Meeting Type: Annual Ticker: COLO B
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Accept Financial Statements and Statutory Reports
For For
For For Approve Allocation of Income 3
For For Approve Creation of DKK 15 Million Pool of Capital without Preemptive Rights
4.1
For For Approve Remuneration of Directors 4.2
For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board
4.3
For For Authorize Share Repurchase Program 4.4
For For Reelect Michael Rasmussen (Chairman) as Director
5.1
For For Reelect Niels Louis-Hansen (Vice Chairman) as Director
5.2
For For Reelect Per Magid as Director 5.3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Coloplast A/S Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Reelect Birgitte Nielsen as Director 5.4
For For Reelect Jette Nygaard-Andersen as Director 5.5
For For Reelect Brian Petersen as Director 5.6
For For Reelect Jorgen Tang-Jensen as Director 5.7
For For Ratify PricewaterhouseCoopers as Auditors 6
GO UCITS ETF Solutions plc - ETFS Longer Dated All Commodities GO UCITS ETF
Meeting Date: 12/05/2016 Country: Ireland
Meeting Type: Annual Ticker: COMF
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Jason Kennard as a Director For For
For For Ratify KPMG as Auditors 2
For For Authorize Board to Fix Remuneration of Auditors 3
GO UCITS ETF Solutions plc - ETFS Russell 2000 US Small Cap GO UCITS ETF
Meeting Date: 12/05/2016 Country: Ireland
Meeting Type: Annual Ticker: N/A
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Jason Kennard as a Director For For
For For Ratify KPMG as Auditors 2
For For Authorize Board to Fix Remuneration of Auditors 3
Independent News & Media plc
Meeting Date: 12/05/2016 Country: Ireland
Meeting Type: Special Ticker: IPDC
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Independent News & Media plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve the Capital Reduction For For
For For Approve Cancellation of Authorised Deferred
Share Capital
2
Lukoil PJSC
Meeting Date: 12/05/2016 Country: Russia
Meeting Type: Special Ticker: LKOH
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Interim Dividends for First Nine Months of Fiscal 2016
For For
For For Approve Remuneration of Directors 2
Regus plc
Meeting Date: 12/05/2016 Country: United Kingdom
Meeting Type: Special Ticker: RGU
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Introduction of a New Jersey
Incorporated Holding Company
For For
For For Adopt New Articles of Association 2
For For Approve Reduction of Share Premium Account 3
For For Approve Share Option Plan 4
For For Approve Deferred Share Bonus Plan 5
For For Approve Performance Share Plan 6
For For Approve Co-Investment Plan 7
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
8
For For Amend Articles of Association 9
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Regus plc
Meeting Date: 12/05/2016 Country: United Kingdom
Meeting Type: Court Ticker: RGU
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Scheme of Arrangement For For
SQN Asset Finance Income Fund Ltd
Meeting Date: 12/05/2016 Country: Guernsey
Meeting Type: Special Ticker: SQN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Issuance of C Shares without
Pre-emptive Rights in Connection with the Issue
For For
SVG Capital plc
Meeting Date: 12/05/2016 Country: United Kingdom
Meeting Type: Special Ticker: SVI
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Investment Objective and Policy For For
For For Authorise Market Purchase of Ordinary Shares Pursuant to the Tender Offer
2
Technip
Meeting Date: 12/05/2016 Country: France
Meeting Type: Special Ticker: TEC
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Technip
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Merger by Absorption of the Company
by TechnipFMC
For For
For For Remove Double-Voting Rights for Long-Term
Registered Shareholders
2
For For Authorize Dissolution Without Liquidation of the
Company
3
For For Authorize Filing of Required Documents/Other
Formalities
4
Aspen Pharmacare Holdings Ltd
Meeting Date: 12/06/2016 Country: South Africa
Meeting Type: Annual Ticker: APN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports for the Year Ended 30 June 2016
For For
For For Receive and Note the Social & Ethics Committee Report
2
For For Re-elect John Buchanan as Director 3a
For For Re-elect Maureen Manyama as Director 3b
For For Elect Babalwa Ngonyama as Director 3c
For For Re-elect David Redfern as Director 3d
For For Re-elect Sindi Zilwa as Director 3e
For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company with Tanya Rae as the
Individual Registered Auditor
4
For For Re-elect Roy Andersen as Member of the Audit and Risk Committee
5a
For For Re-elect John Buchanan as Member of the Audit and Risk Committee
5b
For For Re-elect Maureen Manyama as Member of the Audit and Risk Committee
5c
For For Elect Babalwa Ngonyama as Member of the Audit and Risk Committee
5d
For For Re-elect Sindi Zilwa as Member of the Audit and Risk Committee
5e
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Aspen Pharmacare Holdings Ltd Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Place Authorised but Unissued Shares under
Control of Directors
6
For For Authorise Board to Issue Shares for Cash 7
For For Approve Remuneration Policy 8
For For Authorise Ratification of Approved Resolutions 9
For For Approve Remuneration of Board Chairman 1.1a
For For Approve Remuneration of Board Members 1.1b
For For Approve Remuneration of Audit & Risk
Committee Chairman
1.2a
For For Approve Remuneration of Audit & Risk
Committee Members
1.2b
For For Approve Remuneration of Remuneration &
Nomination Committee Chairman
1.3a
For For Approve Remuneration of Remuneration &
Nomination Committee Members
1.3b
For For Approve Remuneration of Social & Ethics
Committee Chairman
1.4a
For For Approve Remuneration of Social & Ethics
Committee Members
1.4b
For For Approve Financial Assistance to Related or
Inter-related Company
2
For For Authorise Repurchase of Issued Share Capital 3
Christian Dior
Meeting Date: 12/06/2016 Country: France
Meeting Type: Annual/Special Ticker: CDI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Financial Statements and Statutory Reports
For For
For For Approve Consolidated Financial Statements and Statutory Reports
2
Against For Approve Auditors' Special Report on Related-Party Transactions
3
Voter Rationale: Lack of disclosure on price-setting process.
For For Approve Allocation of Income and Dividends of EUR 3.55 per Share
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Christian Dior Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Ratify Appointment of Denis Dalibot as Director 5
Voter Rationale: Lack of independence on board.
Against For Reelect Denis Dalibot as Director 6
Voter Rationale: Lack of independence on board.
For For Reelect Renaud Donnedieu de Vabres as Director
7
For For Reelect Segolene Gallienne as Director 8
Against For Reelect Christian de Labriffe as Director 9
Voter Rationale: Non-independent chair of the audit committee.
Against For Advisory Vote on Compensation of Bernard
Arnault, Chairman
10
Voter Rationale: Lack of disclosure.
Against For Advisory Vote on Compensation of Sidney
Toledano, CEO
11
Voter Rationale: Lack of disclosure.
For For Authorize Repurchase of Up to 10 Percent of Issued Share Capital
12
Against For Authorize Capitalization of Reserves of Up to EUR 80 Million for Bonus Issue or Increase in
Par Value
13
Voter Rationale: Could be used for anti-takeover purposes
For For Authorize Decrease in Share Capital via
Cancellation of Repurchased Shares
14
For For Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 80 Million
15
Against For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 80 Million
16
Voter Rationale: Concerns of excessive dilution to existing shareholders as the stock that could be issued represents more than 10% of the current outstanding shares.
Against For Approve Issuance of Equity or Equity-Linked Securities for up to 20 Percent of Issued Capital Per Year for Private Placements, up to Aggregate Nominal Amount of EUR 80 Million
17
Voter Rationale: Concerns of excessive dilution to existing shareholders as the stock that could be issued represents more than 10% of the current outstanding shares.
Against For Authorize Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to
Issue Authority without Preemptive Rights
18
Voter Rationale: Concerns of excessive dilution to existing shareholders as the stock that could be issued represents more than 10% of the current outstanding shares.
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Christian Dior Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above
19
Voter Rationale: Not in all shareholders' interests
Against For Authorize Capital Increase of Up to EUR 80
Million for Future Exchange Offers
20
Voter Rationale: Exceeds the guidelines for the maximum discount allowed.
For For Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind
21
For For Authorize up to 1 Percent of Issued Capital for Use in Stock Option Plans
22
For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans
23
For For Set Total Limit for Capital Increase to Result from All Issuance Requests at EUR 80 Million
24
OSI Systems, Inc.
Meeting Date: 12/06/2016 Country: USA
Meeting Type: Annual Ticker: OSIS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Deepak Chopra For For
For For Elect Director Ajay Mehra 1.2
For For Elect Director Steven C. Good 1.3
For For Elect Director Meyer Luskin 1.4
For For Elect Director William F. Ballhaus 1.5
For For Elect Director James B. Hawkins 1.6
For For Elect Director Gerald Chizever 1.7
For For Ratify Moss Adams LLP as Auditors 2
For For Amend Qualified Employee Stock Purchase Plan 3
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Transocean Partners LLC
Meeting Date: 12/06/2016 Country: Marshall Isl
Meeting Type: Special Ticker: RIGP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Merger Agreement For For
Unibet Group PLC
Meeting Date: 12/06/2016 Country: Malta
Meeting Type: Special Ticker: UNIB SDB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Change of Company Name and
Amendment in Bylaws
For For
Barry Callebaut AG
Meeting Date: 12/07/2016 Country: Switzerland
Meeting Type: Annual Ticker: BARN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
3.1 Accept Annual Report For For
Against For Approve Remuneration Report 3.2
Voter Rationale: Performance targets attached to the LTIP may not be sufficiently aligned with long-term shareholder value.
For For Accept Financial Statements and Consolidated
Financial Statements
3.3
For For Approve Transfer of CHF 23 Million from Capital
Contribution Reserves to Free Reserves
4.1
For For Approve Dividends of CHF 4.19 per Share 4.2
For For Approve Allocation of Income 4.3
For For Approve CHF 62.1 Million Reduction in Share Capital via Reduction of Nominal Value and Repayment of CHF 11.31 per Share
4.4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Barry Callebaut AG Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Discharge of Board and Senior
Management
5
For For Elect Patrick De Maeseneire as Director 6.1.1
For For Elect Fernando Aguirre as Director 6.1.2
For For Elect Jakob Baer as Director 6.1.3
For For Elect James Lloyd Donald as Director 6.1.4
Against For Elect Nicolas Jacobs as Director 6.1.5
Voter Rationale: Lack of independence on the audit committee.
For For Elect Wai Ling Liu as Director 6.1.6
For For Elect Timothy E. Minges as Director 6.1.7
Against For Elect Andreas Schmid as Director 6.1.8
Voter Rationale: Lack of independence on the audit committee.
For For Elect Juergen B. Steinemann as Director 6.1.9
For For Elect Patrick De Maeseneire as Board Chairman 6.2
For For Appoint James Lloyd Donald as Member of the Compensation Committee
6.3.1
For For Appoint Fernando Aguirre as Member of the Compensation Committee
6.3.2
For For Appoint Wai Ling Liu as Member of the Compensation Committee
6.3.3
Against For Appoint Juergen B. Steinemann as Member of the Compensation Committee
6.3.4
Voter Rationale: Lack of independent representation on a key committees.
For For Designate Andreas G. Keller as Independent
Proxy
6.4
For For Ratify KPMG AG as Auditors 6.5
For For Approve Maximum Remuneration of Board of
Directors in the Amount of CHF 2.2 Million
7.1
For For Approve Maximum Fixed Remuneration of Executive Committee in the Amount of CHF 6.3 Million
7.2
For For Approve Variable Remuneration of Executive
Committee in the Amount of CHF 16.5 Million
7.3
Against For Transact Other Business (Voting) 8
Voter Rationale: Other business not disclosed.
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Better Capital PCC Ltd.
Meeting Date: 12/07/2016 Country: Guernsey
Meeting Type: Special Ticker: BC12
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Conversion of 2009 Shares to Redeemable Shares
For For
For For Approve the Buyback Proposal 2
For For Amend Memorandum of Incorporation 3
For For Adopt New Articles of Incorporation 4
Better Capital PCC Ltd.
Meeting Date: 12/07/2016 Country: Guernsey
Meeting Type: Special Ticker: BC12
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve the Redemption Share Proposal For For
For For Adopt New Articles of Incorporation 2
Bioventix plc
Meeting Date: 12/07/2016 Country: United Kingdom
Meeting Type: Annual Ticker: BVXP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Reappoint James Cowper LLP as Auditors and Authorise Their Remuneration
2
For For Re-elect Peter Harrison as Director 3
For For Authorise Issue of Equity with Pre-emptive Rights
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Bioventix plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Authorise Issue of Equity without Pre-emptive
Rights
5
Voter Rationale: Excessive dilution.
For For Authorise Market Purchase of Ordinary Shares 6
Corporacion Moctezuma S.A.B de C.V.
Meeting Date: 12/07/2016 Country: Mexico
Meeting Type: Special Ticker: CMOCTEZ *
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Cash Dividends of MXN 2.50 Per Share from Retained Earnings from Fiscal Year Ended
2015
For For
For For Appoint Legal Representatives 2
First Gulf Bank PJSC
Meeting Date: 12/07/2016 Country: United Arab Emirates
Meeting Type: Special Ticker: FGB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Issuance of 1.254 New NBAD Share for Every 1 Share in FGB in Connection with The Merger
For For
For For Approve Merger Agreement Between First Gulf
Bank and National Bank of Abu Dhabi
2
For For Approve Resolutions Adopted by the
Shareholders of NBAD Re: The Merger
3
For For Approve Dissolution of the Company Subject to
The Merger
4
For For Authorize Board to Ratify and Execute Approved
Resolutions
5
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Greencore Group plc
Meeting Date: 12/07/2016 Country: Ireland
Meeting Type: Special Ticker: GNC
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Acquisition of CB-Peacock Holdings, Inc.
For For
For For Approve Increase in Authorised Share Capital 2
For For Authorise Issue of Equity in Connection with the Acquisition
3
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with the Acquisition
4
For For Approve Reduction of Share Premium Account 5
JRP Group plc
Meeting Date: 12/07/2016 Country: United Kingdom
Meeting Type: Special Ticker: JRG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorise EU Political Donations and
Expenditure
For For
For For Authorise Issue of Equity with Pre-emptive
Rights
2
For For Authorise Issue of Equity without Pre-emptive
Rights
3
For For Authorise Issue of Equity without Pre-emptive
Rights
4
For For Authorise Market Purchase of Ordinary Shares 5
KGHM Polska Miedz S.A.
Meeting Date: 12/07/2016 Country: Poland
Meeting Type: Special Ticker: KGH
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
KGHM Polska Miedz S.A.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
Against None Recall Supervisory Board Member 5.1
Voter Rationale: Lack of disclosure
Against None Elect Supervisory Board Member 5.2
Voter Rationale: Lack of disclosure
Against None Approve Remuneration Policy for Management Board Members
6
Voter Rationale: Lack of disclosure
Against None Approve Remuneration Policy for Supervisory
Board Members
7
Voter Rationale: Lack of disclosure
Mexichem S.A.B. de C.V.
Meeting Date: 12/07/2016 Country: Mexico
Meeting Type: Special Ticker: MEXCHEM *
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Cash Dividends of USD 105 Million For For
For For Approve Stock Dividend at a Rate of 0.025
Shares per Share
2
For For Authorize Board to Ratify and Execute Approved
Resolutions
3
National Bank of Abu Dhabi
Meeting Date: 12/07/2016 Country: United Arab Emirates
Meeting Type: Special Ticker: NBAD
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
National Bank of Abu Dhabi
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Merer Agreement to be Effected through the Issuance of 1.254 New NBAD Shares for Every 1 Share in FGB in Connection
with The Merger
For For
For For Approve Merger Agreement Between National
Bank of Abu Dhabi and FGB
2
For For Approve Increase in Share Capital from AED 5.254 Billion up to AED 10.897 Billion Subject to the Terms and Conditions of the Merger
3.a
For For Amend Article 1 of Association to Include New
Definitions Re: Transaction, Related Party
3.b
For For Amend Article 6 of Bylaws to Reflect Changes in Capital, Subject to the Terms and Conditions of the Merger
3.c
For For Amend Article 17 of Bylaws Re: Board Size,
Board Requirements and Cumulative Voting
3.d
For For Amend Article 18 of Bylaws Re: Corporate
Governance Regulations
3.e
For For Amend Article 58 of Bylaws Re: Related Party
Transactions
3.f
For For Elect Tahnoon Al Nahyan as Director 4.1
For For Elect Nasser Al Suwaidi as Director 4.2
For For Elect Mohammed Al Nahyan as Director 4.3
For For Elect Khaldoon Al Mubarak as Director 4.4
For For Elect Ahmed Al Dhaheri as Director 4.5
For For Elect Mohammed Al Romaithi as Director 4.6
For For Elect Khalifa Al Suwaidi as Director 4.7
For For Elect Jassem Al Sadeeqi as Director 4.8
For For Elect Mohammed Al Suwaidi as Director 4.9
For For Authorize Board to Ratify and Execute Approved
Resolutions
5
Noevir Holdings Co., Ltd.
Meeting Date: 12/07/2016 Country: Japan
Meeting Type: Annual Ticker: 4928
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Noevir Holdings Co., Ltd.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Okura, Hiroshi For For
For For Elect Director Okura, Takashi 1.2
For For Elect Director Yoshida, Ikko 1.3
For For Elect Director Kaiden, Yasuo 1.4
For For Elect Director Nakano, Masataka 1.5
For For Elect Director Tanaka, Sanae 1.6
For For Elect Director Kikuma, Yukino 1.7
Banco BTG Pactual SA
Meeting Date: 12/08/2016 Country: Brazil
Meeting Type: Special Ticker: BBTG11
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Guillermo Ortiz Martinez as Director For For
First NBC Bank Holding Company
Meeting Date: 12/08/2016 Country: USA
Meeting Type: Annual Ticker: FNBC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director William D. Aaron, Jr. For For
For For Elect Director William M. Carrouche 1.2
For For Elect Director Leander J. Foley, III 1.3
For For Elect Director John F. French 1.4
For For Elect Director Leon L. Giorgio, Jr. 1.5
For For Elect Director Shivan Govindan 1.6
For For Elect Director L. Blake Jones 1.7
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
First NBC Bank Holding Company Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Louis V. Lauricella 1.8
For For Elect Director Mark G. Merlo 1.9
For For Elect Director Ashton J. Ryan, Jr. 1.10
For For Elect Director Charles C. Teamer 1.11
For For Elect Director Joseph F. Toomy 1.12
Magnit PJSC
Meeting Date: 12/08/2016 Country: Russia
Meeting Type: Special Ticker: MGNT
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Interim Dividends for First Nine Months of Fiscal 2016
For For
For For Approve Early Termination of Powers of Audit Commission
2
For For Elect Roman Efimenko as Member of Audit Commission
3.1
For For Elect Anzhela Udovichenko as Member of Audit Commission
3.2
For For Elect Lyubov Shaguch as Member of Audit Commission
3.3
For For Approve Large-Scale Related-Party Transaction Re: Loan Agreement
4.1
For For Approve Large-Scale Related-Party Transaction Re: Guarantee Agreement
4.2
MJ Gleeson plc
Meeting Date: 12/08/2016 Country: United Kingdom
Meeting Type: Annual Ticker: GLE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
MJ Gleeson plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Final Dividend 2
For For Re-elect Stefan Allanson as Director 3
For For Re-elect Dermot Gleeson as Director 4
For For Re-elect Jolyon Harrison as Director 5
For For Re-elect James Ancell as Director 6
For For Re-elect Christopher Mills as Director 7
For For Re-elect Colin Dearlove as Director 8
For For Appoint PricewaterhouseCoopers LLP as
Auditors
9
For For Authorise Board to Fix Remuneration of Auditors 10
For For Approve Remuneration Report 11
For For Approve Remuneration Policy 12
For For Approve Annual and Deferred Bonus Plan 13
For For Approve Long-Term Incentive Plan 14
For For Authorise Issue of Equity with Pre-emptive
Rights
15
For For Authorise Issue of Equity without Pre-emptive
Rights
16
For For Authorise Issue of Equity without Pre-emptive
Rights
17
For For Authorise Market Purchase of Ordinary Shares 18
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
19
Palo Alto Networks, Inc.
Meeting Date: 12/08/2016 Country: USA
Meeting Type: Annual Ticker: PANW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director Mark D. McLaughlin For For
For For Elect Director Asheem Chandna 1b
For For Elect Director James J. Goetz 1c
For For Ratify Ernst & Young LLP as Auditors 2
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Palo Alto Networks, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
Voter Rationale: Pay for performance disconnect
PAREXEL International Corporation
Meeting Date: 12/08/2016 Country: USA
Meeting Type: Annual Ticker: PRXL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director A. Dana Callow, Jr. For For
For For Elect Director Christopher J. Lindop 1.2
For For Elect Director Josef H. von Rickenbach 1.3
For For Advisory Vote to Ratify Named Executive Officers' Compensation
2
For For Ratify Ernst & Young LLP as Auditors 3
Romgaz SA
Meeting Date: 12/08/2016 Country: Romania
Meeting Type: Special Ticker: SNG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Documentation Prepared to Obtain
Ownership Certificate for Real Estate
For For
For For Approve Conclusion of Legal Consultancy
Contract
2
For For Approve Record Date for Effectiveness of This
Meeting's Resolutions
3
For For Authorize Filing of Required Documents/Other
Formalities
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Romgaz SA
Meeting Date: 12/08/2016 Country: Romania
Meeting Type: Special Ticker: SNG
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Reduction in Capital of AGRI LNG Project Company SRL
For For
For For Amend Article 7 of AGRI LNG Project Company SRL's Bylaws
2
For For Amend Amended Set of Bylaws of AGRI LNG Project Company SRL
3
For For Empower Individual to Sign Amended Bylaws of AGRI LNG Project Company SRL and Complete
any Necessary Formalities
4
For For Approve Record Date for Effectiveness of This Meeting's Resolutions
5
For For Authorize Filing of Required Documents/Other Formalities
6
Softcat PLC
Meeting Date: 12/08/2016 Country: United Kingdom
Meeting Type: Annual Ticker: SCT
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Remuneration Policy 3
For For Approve Final Dividend 4
For For Approve Special Dividend 5
For For Elect Brian Wallace as Director 6
For For Elect Martin Hellawell as Director 7
For For Elect Graham Charlton as Director 8
For For Elect Lee Ginsberg as Director 9
For For Elect Peter Ventress as Director 10
For For Elect Vin Murria as Director 11
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Softcat PLC Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Appoint Ernst & Young LLP as Auditors 12
For For Authorise Board to Fix Remuneration of Auditors 13
For For Authorise EU Political Donations and
Expenditure
14
For For Authorise Issue of Equity with Pre-emptive
Rights
15
For For Authorise Issue of Equity without Pre-emptive
Rights
16
For For Authorise Issue of Equity without Pre-emptive
Rights
17
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
18
Associated British Foods plc
Meeting Date: 12/09/2016 Country: United Kingdom
Meeting Type: Annual Ticker: ABF
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
Against For Approve Remuneration Report 2
Voter Rationale: Lack of disclosure.
Against For Approve Remuneration Policy 3
Voter Rationale: Lack of disclosure.
For For Approve Final Dividend 4
For For Re-elect Emma Adamo as Director 5
For For Re-elect John Bason as Director 6
For For Re-elect Ruth Cairnie as Director 7
For For Re-elect Timothy Clarke as Director 8
For For Re-elect Javier Ferran as Director 9
For For Re-elect Wolfhart Hauser as Director 10
For For Elect Richard Reid as Director 11
For For Re-elect Charles Sinclair as Director 12
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Associated British Foods plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect George Weston as Director 13
For For Reappoint Ernst & Young LLP as Auditors 14
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
15
For For Authorise Issue of Equity with Pre-emptive
Rights
16
For For Authorise Issue of Equity without Pre-emptive
Rights
17
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
18
For For Approve 2016 Long Term Incentive Plan 19
JBS S.A.
Meeting Date: 12/09/2016 Country: Brazil
Meeting Type: Special Ticker: JBSS3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Ratify Apsis Consultoria Empresarial Ltda. as the Independent Firm to Appraise Proposed Transactions
For For
For For Ratify Acquisition of Comercio e Industria de Massas Alimenticias Mssa Leve Ltda. (Participacao Societaria)
2
For For Approve Independent Firm's Appraisal 3
For For Ratify Election of Directors 4
For For Elect Fiscal Council Member and Alternate 5
For For Elect Director 6
Korea District Heating Corp.
Meeting Date: 12/09/2016 Country: South Korea
Meeting Type: Special Ticker: A071320
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Korea District Heating Corp.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.2 Elect Jang Jin-young as Outside Director For For
Medtronic plc
Meeting Date: 12/09/2016 Country: Ireland
Meeting Type: Annual Ticker: MDT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Richard H. Anderson For For
For For Elect Director Craig Arnold 1b
For For Elect Director Scott C. Donnelly 1c
For For Elect Director Randall J. Hogan, III 1d
For For Elect Director Omar Ishrak 1e
For For Elect Director Shirley Ann Jackson 1f
For For Elect Director Michael O. Leavitt 1g
For For Elect Director James T. Lenehan 1h
For For Elect Director Elizabeth G. Nabel 1i
For For Elect Director Denise M. O'Leary 1j
For For Elect Director Kendall J. Powell 1k
For For Elect Director Robert C. Pozen 1l
For For Elect Director Preetha Reddy 1m
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
For For Provide Proxy Access Right 4
For For Amend Articles of Association 5a
For For Amend Memorandum of Association 5b
For For Amend Articles to Clarify the Board's Sole Authority to Determine its Size Within the Fixed
Limits
6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
MegaFon PJSC
Meeting Date: 12/09/2016 Country: Russia
Meeting Type: Special Ticker: MFON
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Interim Dividends for First Nine Months of Fiscal 2016
For For
MY E.G. Services Berhad
Meeting Date: 12/09/2016 Country: Malaysia
Meeting Type: Annual Ticker: MYEG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Final Dividend For For
For For Approve Remuneration of Directors 2
For For Elect Munir Shah Bin Raja Mustapha as Director 3
For For Elect Ng Fook Ai, Victor as Director 4
For For Elect Muhammad Rais Bin Abdul Karim as
Director
5
For For Approve Crowe Horwath as Auditors and
Authorize Board to Fix Their Remuneration
6
For For Approve Mohd Jimmy Wong Bin Abdullah to Continue Office as Independent Non-Executive Director
7
For For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights
8
For For Authorize Share Repurchase Program 9
For For Amend Articles of Association 1
MY E.G. Services Berhad
Meeting Date: 12/09/2016 Country: Malaysia
Meeting Type: Special Ticker: MYEG
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
MY E.G. Services Berhad
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Bonus Issue For For
Spur Corporation Ltd
Meeting Date: 12/09/2016 Country: South Africa
Meeting Type: Annual Ticker: SUR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Re-elect Keith Getz as Director For For
For For Re-elect Dean Hyde as Director 1.2
For For Re-elect Keith Madders as Director 1.3
For For Reappoint KPMG Inc as Auditors of the Company with Bronvin Heuvel as the Individual Designated Auditor and Authorise Their Remuneration
2
For For Re-elect Dean Hyde as Chairman of the Audit Committee
3.1
For For Re-elect Dineo Molefe as Member of the Audit Committee
3.2
For For Re-elect Muzi Kuzwayo as Member of the Audit Committee
3.3
For For Re-elect Mntungwa Morojele as Member of the Audit Committee
3.4
For For Approve Remuneration Policy 4
For For Authorise Repurchase of Issued Share Capital 1
For For Approve Financial Assistance to Related or Inter-related Company
2
Thor Industries, Inc.
Meeting Date: 12/09/2016 Country: USA
Meeting Type: Annual Ticker: THO
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Thor Industries, Inc.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Peter B. Orthwein For For
For For Elect Director Robert W. Martin 1.2
For For Elect Director James L. Ziemer 1.3
For For Ratify Deloitte & Touche LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
For For Approve Omnibus Stock Plan 4
Westpac Banking Corporation
Meeting Date: 12/09/2016 Country: Australia
Meeting Type: Annual Ticker: WBC
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve the Remuneration Report For For
For For Approve the Grant of Equity Awards to Brian Hartzer, Managing Director and Chief Executive
Officer of the Company
3
For For Elect Ewen Crouch as Director 4a
For For Elect Peter Marriott as Director 4b
Oil & Natural Gas Corporation Ltd.
Meeting Date: 12/10/2016 Country: India
Meeting Type: Special Ticker: ONGC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorize Capitalization of Reserves for Bonus
Issue
For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Vedanta Ltd.
Meeting Date: 12/10/2016 Country: India
Meeting Type: Special Ticker: VEDL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Vedanta Limited Employees Stock Option Scheme - 2016 (ESOS)
For For
For For Approve Vedanta Limited Employees Stock Option Scheme - 2016 to Employees of the
Holding/Subsidiary Company(ies)
2
For For Authorize Vedanta ESOS Trust for Secondary Acquisition
3
Ambu A/S
Meeting Date: 12/12/2016 Country: Denmark
Meeting Type: Annual Ticker: AMBU B
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Accept Financial Statements and Statutory
Reports
For For
For For Approve Allocation of Income and Dividends of
DKK 1.55 Per Share
3
For For Approve Remuneration of Directors 4
For For Amend Articles Re: Registration of A Shares with VP Securities and Cancellation of Existing A Share Certificates
5
For For Reelect Jens Bager (Chairman) as Director 6
For For Reelect Mikael Worning (Vice Chairman) as
Director
7
For For Reelect Oliver Johansen as Director 8a
For For Reelect Allan Søgaard Larsen as Director 8b
For For Reelect Christian Sagild as Director 8c
For For Reelect Henrik Ehlers Wulff as Director 8d
For For Ratify PricewaterhouseCoopers as Auditors 9
For For Authorize Editorial Changes to Adopted Resolutions in Connection with Registration with Danish Authorities
10
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Cisco Systems, Inc.
Meeting Date: 12/12/2016 Country: USA
Meeting Type: Annual Ticker: CSCO
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Carol A. Bartz For For
For For Elect Director M. Michele Burns 1b
For For Elect Director Michael D. Capellas 1c
For For Elect Director John T. Chambers 1d
For For Elect Director Amy L. Chang 1e
For For Elect Director John L. Hennessy 1f
For For Elect Director Kristina M. Johnson 1g
For For Elect Director Roderick C. McGeary 1h
For For Elect Director Charles H. Robbins 1i
For For Elect Director Arun Sarin 1j
Against For Elect Director Steven M. West 1k
Voter Rationale: Concerns about lack of independence on the audit committee.
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
For For Ratify PricewaterhouseCoopers LLP as Auditors 3
For Against Report on Lobbying Payments and Policy 4
Voter Rationale: This is material information for shareholders and they would benefit from greater transparency in order to assess risks and opportunities to these activities.
Against Against Report on Arab and non-Arab Employees using EEO-1 Categories
5
Against Against Establish Board Committee on Operations in Israeli Settlements
6
Itausa, Investimentos Itau S.A.
Meeting Date: 12/12/2016 Country: Brazil
Meeting Type: Special Ticker: ITSA4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Itausa, Investimentos Itau S.A.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Dismiss Director and Alternate Director
Appointed by Minority Shareholder
None For
For None Elect Walter Mendes de Oliveira Filho as
Director Appointed by Minority Shareholder
2.1
For None Elect Henrique Andrade Trinckquel Filho as Alternate Director Appointed by Minority Shareholder
2.2
Kernel Holding S.A.
Meeting Date: 12/12/2016 Country: Luxembourg
Meeting Type: Annual Ticker: KER
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Receive and Approve Board's and Auditor's Reports
For For
For For Approve Consolidated Financial Statements and Statutory Reports
2
For For Approve Financial Statements 3
For For Approve Allocation of Income and Payment of Dividends of USD 0.25 per Share
4
For For Approve Discharge of Directors 5
For For Reelect Andrzej Danilczuk as Director 6
For For Approve Resignation of Ton Schurink as Director 7
For For Reelect Nathalie Bachich as Director 8
For For Reelect Sergei Shibaev as Director 9
For For Reelect Anastasiia Usachova as Director 10
For For Reelect Viktoriia Lukianenko as Director 11
For For Reelect Yuriy Kovalchuk as Director 12
For For Reelect Kostiantyn Lytvynskyi as Director 13
For For Approve Remuneration of Independent Directors
14
For For Approve Director Fees for Executive Directors 15
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Kernel Holding S.A. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Discharge of Auditors 16
For For Renew Appointment of Deloitte as Auditor 17
Light S.A.
Meeting Date: 12/12/2016 Country: Brazil
Meeting Type: Special Ticker: LIGT3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Ratify Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2015
For For
Aryzta AG
Meeting Date: 12/13/2016 Country: Switzerland
Meeting Type: Annual Ticker: ARYN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Share Re-registration Consent For For
Aryzta AG
Meeting Date: 12/13/2016 Country: Switzerland
Meeting Type: Annual Ticker: ARYN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 1.2
For For Approve Allocation of Income 2.1
For For Approve Dividends of CHF 0.57 per Share from Capital Contribution Reserves
2.2
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Aryzta AG Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Discharge of Board and Senior
Management
3
For For Elect Gary McGann as Director and Chairman 4.1.1
For For Elect Charles Adair as Director 4.1.2
For For Reelect Dan Flinter as Director 4.1.3
For For Reelect Annette Flynn as Director 4.1.4
For For Reelect Owen Killian as Director 4.1.5
For For Reelect Andrew Morgan as Director 4.1.6
For For Reelect Wolfgang Werle as Director 4.1.7
For For Elect Rolf Watter as Director 4.1.8
For For Appoint Charles Adair as Member of the
Compensation Committee
4.2.1
For For Appoint Gary McGann as Member of the
Compensation Committee
4.2.2
For For Appoint Rolf Watter as Member of the
Compensation Committee
4.2.3
For For Ratify PricewaterhouseCoopers AG as Auditors 4.3
For For Designate Patrick ONeill as Independent Proxy 4.4
For For Approve Remuneration of Directors in the
Amount of CHF 1 Million
5.1
For For Approve Remuneration of Executive Committee
in the Amount of CHF 15.05 Million
5.2
Against For Transact Other Business (Voting) 6
Voter Rationale: Other business not disclosed.
Bellway plc
Meeting Date: 12/13/2016 Country: United Kingdom
Meeting Type: Annual Ticker: BWY
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 2
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Bellway plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Final Dividend 3
For For Re-elect John Watson as Director 4
For For Re-elect Ted Ayres as Director 5
For For Re-elect Keith Adey as Director 6
For For Re-elect Mike Toms as Director 7
For For Re-elect John Cuthbert as Director 8
For For Re-elect Paul Hampden Smith as Director 9
For For Re-elect Denise Jagger as Director 10
For For Reappoint KPMG LLP as Auditors 11
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
12
For For Approve Sale of a Property by Bellway Homes
Limited to Ted Ayres
13
For For Authorise Issue of Equity with Pre-emptive
Rights
14
For For Authorise Issue of Equity without Pre-emptive
Rights
15
For For Authorise Issue of Equity without Pre-emptive
Rights
16
For For Authorise Market Purchase of Ordinary Shares 17
For For Amend Savings Related Share Option Scheme 18
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
19
Champion Real Estate Investment Trust
Meeting Date: 12/13/2016 Country: Hong Kong
Meeting Type: Special Ticker: 2778
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve 2016 Waiver Extension and Modification and the New Annual Caps for Connected Party Transactions
For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Champion Technology Holdings Ltd.
Meeting Date: 12/13/2016 Country: Bermuda
Meeting Type: Annual Ticker: 92
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Elect Cheng Yang as Director 2.1
For For Elect Liu Ka Lim as Director 2.2
For For Elect Zhang Jingzhi as Director 2.3
For For Authorize Board to Fix Remuneration of Directors
2.4
For For Approve Moore Stephens CPA Limited as Auditor and Authorize Board to Fix Their Remuneration
3
Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
4A
Voter Rationale: The stock that could be issued represents more than 10 percent of the current outstanding shares or exceeds the recommended pre-emption guidelines.
For For Authorize Repurchase of Issued Share Capital 4B
Against For Authorize Reissuance of Repurchased Shares 4C
Voter Rationale: Discount limit not disclosed.
Chesnara plc
Meeting Date: 12/13/2016 Country: United Kingdom
Meeting Type: Special Ticker: CSN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorise Issue of Equity with Pre-emptive
Rights
For For
For For Authorise Issue of Equity without Pre-emptive Rights
2
For For Authorise Issue of Shares Pursuant to the Firm Placing and Placing and Open Offer
3
For For Approve Acquisition of Legal & General Nederland Levensverzekering Maatschappij N.V.
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Fidelity Special Values plc
Meeting Date: 12/13/2016 Country: United Kingdom
Meeting Type: Annual Ticker: FSV
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
For For Re-elect Andy Irvine as Director 3
For For Re-elect Sharon Brown as Director 4
For For Re-elect Dean Buckley as Director 5
For For Re-elect Nigel Foster as Director 6
For For Re-elect Nicky McCabe as Director 7
For For Approve Remuneration Report 8
For For Reappoint Ernst & Young LLP as Auditors 9
For For Authorise Board to Fix Remuneration of Auditors 10
For For Authorise Issue of Equity with Pre-emptive Rights
11
For For Authorise Issue of Equity without Pre-emptive Rights
12
For For Authorise Market Purchase of Ordinary Shares 13
For For Approve Continuation of Company as Investment Trust
14
Henderson Far East Income Ltd
Meeting Date: 12/13/2016 Country: Jersey
Meeting Type: Annual Ticker: HFEL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Reelect John Russell as a Director 3
For For Reelect David Mashiter as a Director 4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Henderson Far East Income Ltd Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Nicholas George as a Director 5
For For Ratify KPMG Channel Islands as Auditors 6
For For Authorize Board to Fix Remuneration of Auditors 7
For For Approve Share Repurchase Program 8
For For Authorize the Company to Hold its Own Shares
as Treasury Shares
9
For For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights
10
For For Approve Interim Dividends 11
KazMunaiGas Exploration Production JSC
Meeting Date: 12/13/2016 Country: Kazakhstan
Meeting Type: Special Ticker: KMG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Corporate Purpose For For
For None Recall Director 2
For None Elect Director 3
Monsanto Company
Meeting Date: 12/13/2016 Country: USA
Meeting Type: Special Ticker: MON
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Merger Agreement For For
For For Advisory Vote on Golden Parachutes 2
For For Adjourn Meeting 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Square Pharmaceuticals Ltd.
Meeting Date: 12/13/2016 Country: Bangladesh
Meeting Type: Annual Ticker: SQURPHARMA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Dividend 2
For For Reelect Ratna Patra as Director 3.1
For For Reelect Anjan Chowdhury as Director 3.2
For For Approve Ahmed Zaker and Co. as Auditors and Authorize Board to Fix their Remuneration
4
For For Reelect Nihad Kabir as Independent Director 5
Tata Consultancy Services Ltd.
Meeting Date: 12/13/2016 Country: India
Meeting Type: Special Ticker: TCS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Remove C. P. Mistry as Director For Against
Voter Rationale: Not enough evidence of malpractice to warrant a vote against.
The Scottish Oriental Smaller Companies Trust plc
Meeting Date: 12/13/2016 Country: United Kingdom
Meeting Type: Annual Ticker: SST
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports For For
For For Approve Final Dividend 2
For For Re-elect Anne West as Director 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
The Scottish Oriental Smaller Companies Trust plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect James Ferguson as Director 4
For For Re-elect Alexandra Mackesy as Director 5
For For Re-elect Dr Janet Morgan as Director 6
For For Reappoint Ernst & Young LLP as Auditors and
Authorise Their Remuneration
7
For For Approve Remuneration Report 8
For For Authorise Issue of Equity with Pre-emptive
Rights
9
For For Authorise Issue of Equity without Pre-emptive
Rights
10
For For Authorise Market Purchase of Ordinary Shares 11
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
12
Arca Continental S.A.B. de C.V.
Meeting Date: 12/14/2016 Country: Mexico
Meeting Type: Special Ticker: AC *
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Balance Sheet For For
For For Approve Merger by Absorption of Carismed XXI, S de RL de CV, Including Agreements to Carry Out Merger
2
For For Approve Capital Increase via Issuance of Shares in Connection with Merger
3
For For Authorize Board to Ratify and Execute Approved Resolutions
4
For For Approve Minutes of Previous Meeting 5
AutoZone, Inc.
Meeting Date: 12/14/2016 Country: USA
Meeting Type: Annual Ticker: AZO
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
AutoZone, Inc.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Douglas H. Brooks For For
For For Elect Director Linda A. Goodspeed 1.2
For For Elect Director Sue E. Gove 1.3
For For Elect Director Earl G. Graves, Jr. 1.4
For For Elect Director Enderson Guimaraes 1.5
For For Elect Director J. R. Hyde, III 1.6
For For Elect Director D. Bryan Jordan 1.7
For For Elect Director W. Andrew McKenna 1.8
For For Elect Director George R. Mrkonic, Jr. 1.9
For For Elect Director Luis P. Nieto 1.10
For For Elect Director William C. Rhodes, III 1.11
For For Ratify Ernst & Young LLP as Auditors 2
For For Amend Nonqualified Employee Stock Purchase
Plan
3
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
4
Voter Rationale: CEO granted a one-time $11.1 million stock option award
BACIT Ltd.
Meeting Date: 12/14/2016 Country: Guernsey
Meeting Type: Special Ticker: BACT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Discontinuation of Company as
Investment Trust Against Against
For For Approve Related Party Share Subscription 2
For For Approve New Investment Policy 3
For For Amend Investment Management Agreement
with BACIT (UK) Ltd
4
For For Amend Long Term Incentive Plan 5
For For Elect Nigel Keen as a Director 6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
BACIT Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Ellen Strahlman as a Director 7
For For Waive Requirement for Mandatory Offer to All
Shareholders
8
For For Approve Issuance of Ordinary Shares in
Connection with the Issue and Firm Placing
9
For For Change Company Name to Syncona Ltd 10
For For Adopt New Articles 11
For For Approve Issuance of Ordinary Shares in Connection with the Firm Placing and the Placing
12
Bowleven plc
Meeting Date: 12/14/2016 Country: United Kingdom
Meeting Type: Annual Ticker: BLVN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Re-elect David Clarkson as Director 2
For For Re-elect Kevin Hart as Director 3
For For Reappoint Ernst & Young LLP as Auditors 4
For For Authorise Board to Fix Remuneration of Auditors 5
For For Authorise Issue of Equity with Pre-emptive Rights
6
For For Authorise Issue of Equity without Pre-emptive Rights
7
For For Authorise Market Purchase of Ordinary Shares 8
China Lodging Group, Limited
Meeting Date: 12/14/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: HTHT
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
China Lodging Group, Limited
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Director Sebastien Bazin For For
For For Elect Director Shangzhi Zhang 2
For For Appoint Deloitte Touche Tohmatsu Certified
Public Accountants LLP as Auditors
3
Duluxgroup Ltd
Meeting Date: 12/14/2016 Country: Australia
Meeting Type: Annual Ticker: DLX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2.1 Elect Graeme Liebelt as Director For For
For For Elect Andrew Larke as Director 2.2
For For Approve the Remuneration Report 3
For For Approve the Grant of Shares to Patrick Houlihan, Managing Director and Chief
Executive Officer of the Company
4.1
For For Approve the Grant of Shares to Stuart Boxer, Chief Financial Officer and Executive Director of
the Company
4.2
For For Approve the Leaving Entitlements Under the Long Term Equity Incentive Plan
5
For For Approve the Grant of Share Rights to Non-Executive Directors
6
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
7
Intrum Justitia AB
Meeting Date: 12/14/2016 Country: Sweden
Meeting Type: Special Ticker: IJ
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Intrum Justitia AB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Chairman of Meeting For For
For For Prepare and Approve List of Shareholders 3
For For Approve Agenda of Meeting 4
For For Designate Inspector(s) of Minutes of Meeting 5
For For Acknowledge Proper Convening of Meeting 6
For For Approve Merger Agreement with Lindorff; Authorize Issuance of Shares in Connection with Merger
7
Light S.A.
Meeting Date: 12/14/2016 Country: Brazil
Meeting Type: Special Ticker: LIGT3
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Director and Alternate For For
Mitsubishi Motors Corp.
Meeting Date: 12/14/2016 Country: Japan
Meeting Type: Special Ticker: 7211
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles to Amend Provisions on Number of Directors - Clarify Director Authority on Board Meetings
For For
For For Elect Director Carlos Ghosn 2.1
Against For Elect Director Masuko, Osamu 2.2
Voter Rationale: Masuko should be held responsible for the fuel economy test data falsification incident.
For For Elect Director Yamashita, Mitsuhiko 2.3
For For Elect Director Shiraji, Kozo 2.4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Mitsubishi Motors Corp. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Ikeya, Koji 2.5
For For Elect Director Sakamoto, Harumi 2.6
For For Elect Director Miyanaga, Shunichi 2.7
For For Elect Director Kobayashi, Ken 2.8
For For Elect Director Isayama, Takeshi 2.9
For For Elect Director Kawaguchi, Hitoshi 2.10
For For Elect Director Karube, Hiroshi 2.11
Against For Approve Compensation Ceiling for Directors and
Equity Compensation Plan
3
Voter Rationale: Lack of disclosure
Orpea
Meeting Date: 12/14/2016 Country: France
Meeting Type: Special Ticker: ORP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Brigitte Lantz as Director For For
For For Elect Laure Baume-Brunel as Director 2
For For Authorize Filing of Required Documents/Other Formalities
3
PGE Polska Grupa Energetyczna SA
Meeting Date: 12/14/2016 Country: Poland
Meeting Type: Special Ticker: PGE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
For For Resolve Not to Elect Members of Vote Counting
Commission
5
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
PGE Polska Grupa Energetyczna SA Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against None Approve Remuneration Policy for Management
Board Members
6
Voter Rationale: Lack of disclosure
Against None Approve Remuneration Policy for Supervisory
Board Members
7
Voter Rationale: Lack of disclosure
For None Amend Statute Re: Corporate Purpose 8
For None Approve Decision on Covering Costs of Convocation of General Meeting of Shareholders
9
Schroder Oriental Income Fund Ltd
Meeting Date: 12/14/2016 Country: Guernsey
Meeting Type: Annual Ticker: SOI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports For For
For For Approve Remuneration Report 2
For For Elect Paul Meader as a Director 3
For For Reelect Robert Sinclair as a Director 4
For For Reelect Peter Rigg as a Director 5
For For Ratify Ernst & Young LLP as Auditors 6
For For Authorize Board to Fix Remuneration of Auditors 7
For For Approve Share Repurchase Program 8
For For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights
9
Skandiabanken ASA
Meeting Date: 12/14/2016 Country: Norway
Meeting Type: Special Ticker: SKBN
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Skandiabanken ASA
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Chairman of Meeting For For
For For Approve Notice of Meeting and Agenda 2
For For Approve Creation of NOK 50 Million Pool of
Capital without Preemptive Rights
4.2
For For Authorize Share Repurchase Program and
Reissuance of Repurchased Shares
4.3
Yahoo Japan Corporation
Meeting Date: 12/14/2016 Country: Japan
Meeting Type: Special Ticker: 4689
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Director Jonathan Bullock For For
Ares Capital Corporation
Meeting Date: 12/15/2016 Country: USA
Meeting Type: Special Ticker: ARCC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Authority to Issue Shares Below Net
Asset Value
For For
For For Issue Shares in Connection with Merger 2
For For Adjourn Meeting 3
Edinburgh Dragon Trust plc
Meeting Date: 12/15/2016 Country: United Kingdom
Meeting Type: Annual Ticker: EFM
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Edinburgh Dragon Trust plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Allan McKenzie as Director 4
For For Re-elect Kathryn Langridge as Director 5
For For Re-elect Peter Maynard as Director 6
For For Re-elect Iain McLaren as Director 7
For For Elect Charlie Ricketts as Director 8
For For Reappoint KPMG LLP as Auditors 9
For For Authorise Board to Fix Remuneration of Auditors 10
For For Authorise Issue of Equity with Pre-emptive
Rights
11
For For Authorise Issue of Equity without Pre-emptive
Rights
12
For For Authorise Market Purchase of Ordinary Shares 13
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
14
Enbridge Inc.
Meeting Date: 12/15/2016 Country: Canada
Meeting Type: Special Ticker: ENB
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Issue Shares in Connection with the Merger For For
For For Amend By-Law No.1 2
ENEA S.A.
Meeting Date: 12/15/2016 Country: Poland
Meeting Type: Special Ticker: ENA
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
ENEA S.A.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
Against None Approve Remuneration Policy for Members of
Management Board
5
Voter Rationale: Lack of disclosure.
Against None Approve Remuneration Policy for Members of Supervisory Board
6
Voter Rationale: Lack of disclosure.
Fabrinet
Meeting Date: 12/15/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: FN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Homa Bahrami For For
For For Elect Director Rollance E. Olson 1.2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
2
For For Ratify PricewaterhouseCoopers ABAS Ltd. as Auditors
3
John Laing Environmental Assets Group Ltd
Meeting Date: 12/15/2016 Country: Guernsey
Meeting Type: Special Ticker: JLEN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Issuance of Equity Without Preemptive Rights Pursuant to the Placing Programme
For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
KongZhong Corporation
Meeting Date: 12/15/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: KZ
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Leilei Wang as Director For For
For For Elect Xiaoxin Chen as Director 2
For For Approve Appointment of Auditor 3
KWS Saat SE
Meeting Date: 12/15/2016 Country: Germany
Meeting Type: Annual Ticker: KWS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Allocation of Income and Dividends of
EUR 3.00 per Share
For Against
Voter Rationale: Payout ratio is consistently below 30%.
For For Approve Discharge of Management Board for Fiscal 2015/2016
3
For For Approve Discharge of Supervisory Board for Fiscal 2015/2016
4
For For Ratify Ernst & Young GmbH as Auditors for Fiscal 2016/2017
5
For For Elect Marie Theres Schnell to the Supervisory Board
6
For For Approve Affiliation Agreements with Subsidiary Agromais GmbH
7.1
For For Approve Affiliation Agreements with Subsidiary Betaseed GmbH
7.2
For For Approve Affiliation Agreements with Subsidiary Delitzsch Pflanzenzucht Gesellschaft mit
beschraenkter Haftung
7.3
For For Approve Affiliation Agreements with Subsidiary Kant-Hartwig & Vogel Gesellschaft mit
beschraenkter Haftung
7.4
For For Approve Affiliation Agreements with Subsidiary KWS Services Deutschland GmbH
7.5
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Orica Ltd.
Meeting Date: 12/15/2016 Country: Australia
Meeting Type: Annual Ticker: ORI
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2.1 Elect Lim Chee Onn as Director For For
For For Elect Maxine Brenner as Director 2.2
For For Elect Gene Tilbrook as Director 2.3
For For Elect Karen Moses as Director 2.4
For For Approve the Remuneration Report 3
For For Approve the Grant of Performance Rights to Alberto Calderon, Managing Director of the
Company
4
For For Approve the Proportional Takeover Provisions 5
Riverstone Energy Limited
Meeting Date: 12/15/2016 Country: Guernsey
Meeting Type: Special Ticker: RSE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend the Company's Investment Policy For For
Sinotrans Ltd.
Meeting Date: 12/15/2016 Country: China
Meeting Type: Special Ticker: 598
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Song Dexing as Director and Authorize Board to Fix His Remuneration
For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Spectra Energy Corp
Meeting Date: 12/15/2016 Country: USA
Meeting Type: Special Ticker: SE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Merger Agreement For For
For For Advisory Vote on Golden Parachutes 2
Tauron Polska Energia SA
Meeting Date: 12/15/2016 Country: Poland
Meeting Type: Special Ticker: TPE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
For For Waive Secrecy of Voting When Electing
Members of Vote Counting Commission
5
For For Elect Members of Vote Counting Commission 6
Against None Approve Remuneration Policy for Management
Board Members
7
Voter Rationale: Lack of disclosure
Against None Approve Remuneration Policy for Supervisory Board Members
8
Voter Rationale: Lack of disclosure
The Leisure Fund Unit Trust
Meeting Date: 12/15/2016 Country: Jersey
Meeting Type: Special Ticker: N/A
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
A Approve Investment Policy Amendments For For
For For Approve Further Subscription Amendment B
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Tiso Blackstar Group SE
Meeting Date: 12/15/2016 Country: Malta
Meeting Type: Annual Ticker: TBGR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Eliminate Pre-emptive Rights For For
For For Authorize Share Repurchase Program 2
For For Accept Statutory Reports 3
For For Accept Financial Statements 4
For For Accept Consolidated Financial Statements 5
For For Approve Auditors and Authorize Board to Fix Their Remuneration
6
For For Re-elect Marcel Ernzer as Director 7
For For Re-elect Harishkumar Mehta as Director 8
For For Re-elect John Mills as Director 9
For For Approve Dividends 10
For For Authorize Share Capital Increase 11
51Job, Inc.
Meeting Date: 12/16/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: JOBS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect David K. Chao as Director For For
For For Elect Li-Lan Cheng as Director 2
For For Elect Eric He as Director 3
For For Elect Kazumasa Watanabe as Director 4
For For Elect Rick Yan as Director 5
For For Approve Appointment of Auditor 6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Akorn, Inc.
Meeting Date: 12/16/2016 Country: USA
Meeting Type: Special Ticker: AKRX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Qualified Employee Stock Purchase Plan
For For
For For Amend Omnibus Stock Plan 2
Australia and New Zealand Banking Group Ltd.
Meeting Date: 12/16/2016 Country: Australia
Meeting Type: Annual Ticker: ANZ
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve the Remuneration Report For For
For For Approve the Grant of Performance Rights to Shayne Elliot, Chief Executive Officer of the Company
3
For For Elect S. J. Halton as Director 4a
For For Elect G. R. Liebelt as Director 4b
Autohome Inc.
Meeting Date: 12/16/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: ATHM
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Director Junling Liu For For
For For Elect Director Tianruo Pu 2
For For Elect Director Dazong Wang 3
For For Approve Restricted Stock Plan 4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
BT Investment Management Ltd.
Meeting Date: 12/16/2016 Country: Australia
Meeting Type: Annual Ticker: BTT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2a Elect Les Vance as Director For For
For For Elect Kathryn Matthews as Director 2b
For For Approve the Remuneration Report 3
Chaoda Modern Agriculture (Holdings) Limited
Meeting Date: 12/16/2016 Country: Cayman Islands
Meeting Type: Annual Ticker: 682
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Elect Yang Gang as Director 2A
For For Elect Zhang Chang Man as Director 2B
Against For Elect Ip Chi Ming as Director 2C
Voter Rationale: Nil
For For Approve Elite Partners CPA Limited as Auditors and Authorize Board to Fix Their Remuneration
3
For For Authorize Repurchase of Issued Share Capital 4A
Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
4B
Voter Rationale: The stock that could be issued represents more than 10 percent of the current outstanding shares or exceeds the recommended pre-emption guidelines.
Against For Authorize Reissuance of Repurchased Shares 4C
Voter Rationale: Discount limit not disclosed.
COLOPL, Inc.
Meeting Date: 12/16/2016 Country: Japan
Meeting Type: Annual Ticker: 3668
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
COLOPL, Inc.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 17
For For
For For Elect Director Baba, Naruatsu 2.1
For For Elect Director Tsuchiya, Masahiko 2.2
For For Elect Director Hasebe, Jun 2.3
For For Elect Director Yoshioka, Shohei 2.4
For For Elect Director Ishiwatari, Ryosuke 2.5
For For Elect Director Morisaki, Kazunori 2.6
For For Elect Director Sugai, Kenta 2.7
For For Elect Director Ishiwatari, Shinsuke 2.8
For For Elect Director Yanagisawa, Koji 2.9
For For Elect Director Tamesue, Dai 2.10
Copart, Inc.
Meeting Date: 12/16/2016 Country: USA
Meeting Type: Annual Ticker: CPRT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Willis J. Johnson For For
For For Elect Director A. Jayson Adair 1.2
For For Elect Director Matt Blunt 1.3
For For Elect Director Steven D. Cohan 1.4
For For Elect Director Daniel J. Englander 1.5
For For Elect Director James E. Meeks 1.6
For For Elect Director Vincent W. Mitz 1.7
For For Elect Director Thomas N. Tryforos 1.8
Against For Amend Omnibus Stock Plan 2
Voter Rationale: Potential to accelerate vesting
For For Eliminate Cumulative Voting 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Copart, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
4
Voter Rationale: Pay for performance disconnect
For For Ratify Ernst & Young LLP as Auditors 5
CyberAgent, Inc.
Meeting Date: 12/16/2016 Country: Japan
Meeting Type: Annual Ticker: 4751
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Allocation of Income, with a Final Dividend of JPY 50
For For
Against For Elect Director Fujita, Susumu 2.1
Voter Rationale: Senior management should be held responsible for not adhering to the Governance Code guidelines in terms of board independence.
For For Elect Director Hidaka, Yusuke 2.2
For For Elect Director Okamoto, Yasuo 2.3
For For Elect Director Nakayama, Go 2.4
For For Elect Director Koike, Masahide 2.5
For For Elect Director Yamauchi, Takahiro 2.6
For For Elect Director Ukita, Koki 2.7
For For Elect Director Soyama, Tetsuhito 2.8
For For Elect Director Nakamura, Koichi 2.9
Incitec Pivot Ltd
Meeting Date: 12/16/2016 Country: Australia
Meeting Type: Annual Ticker: IPL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Kathryn Fagg as Director For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Incitec Pivot Ltd Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Grant of Performance Rights to
James Fazzino
2
For For Approve the Amendment to the Company's
Constitution
3
For For Approve the Remuneration Report 4
Inside Secure
Meeting Date: 12/16/2016 Country: France
Meeting Type: Special Ticker: INSD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorize up to 1.2 Million Shares for Use in Stock Option Plans
For For
For For Authorize up to 820,000 Shares for Use in Restricted Stock Plans
2
For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans
3
Lai Sun Development Co., Ltd.
Meeting Date: 12/16/2016 Country: Hong Kong
Meeting Type: Annual Ticker: 488
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports For For
For For Approve Final Dividend 2
For For Elect U po Chu as Director 3A1
For For Elect Ip Shu Kwan, Stephen as Director 3A2
For For Authorize Board to Fix Remuneration of
Directors
3B
For For Approve Ernst and Young, Certified Public Accountants as Independent Auditors and Authorize Board to Fix Their Remuneration
4
For For Authorize Repurchase of Issued Share Capital 5A
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Lai Sun Development Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights
5B
Voter Rationale: Excessive dilution
Against For Authorize Reissuance of Repurchased Shares 5C
Voter Rationale: Excessive dilution
Lai Sun Garment (International) Ltd.
Meeting Date: 12/16/2016 Country: Hong Kong
Meeting Type: Annual Ticker: 191
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports For For
For For Approve Final Dividend 2
For For Elect Lam Kin Ngok, Peter as Director 3A1
For For Elect U Po Chu as Director 3A2
For For Elect Chow Bing Chiu as Director 3A3
For For Authorize Board to Fix Remuneration of
Directors
3B
For For Approve Ernst & Young, Certified Public Accountants as Independent Auditors and Authorize Board to Fix Their Remuneration
4
For For Authorize Repurchase of Issued Share Capital 5A
Against For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights
5B
Voter Rationale: Excessive dilution
Against For Authorize Reissuance of Repurchased Shares 5C
Voter Rationale: Excessive dilution
MMC Norilsk Nickel PJSC
Meeting Date: 12/16/2016 Country: Russia
Meeting Type: Special Ticker: MNOD
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
MMC Norilsk Nickel PJSC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Interim Dividends for First Nine Months
of Fiscal 2016
For For
National Australia Bank Limited
Meeting Date: 12/16/2016 Country: Australia
Meeting Type: Annual Ticker: NAB
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2a Elect Anthony Yuen as Director For For
For For Elect Philip Chronican as Director 2b
For For Elect Douglas McKay as Director 2c
Against For Approve the Remuneration Report 3
Voter Rationale: Retention award considered excessive and not in the best interests of shareholders.
For For Approve the Grant of Performance Rights to
Andrew Thorburn, Group Chief Executive Officer
4
Sanne Group plc
Meeting Date: 12/16/2016 Country: Jersey
Meeting Type: Special Ticker: SNN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve the Acquisition Agreement For For
For For Approve Capital Raising 2
SK-Electronics Co. Ltd.
Meeting Date: 12/16/2016 Country: Japan
Meeting Type: Annual Ticker: 6677
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
SK-Electronics Co. Ltd.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 18
For For
For For Amend Articles to Indemnify
Directors - Indemnify Statutory Auditors
2
For For Elect Director Ishida, Masanori 3.1
For For Elect Director Fujiwara, Hidehiro 3.2
For For Elect Director Ishida, Keisuke 3.3
For For Elect Director Maeno, Ryuichi 3.4
For For Elect Director Shiojiri, Kazuya 3.5
For For Elect Director Ueno, Tokuo 3.6
For For Elect Director Mukaida, Yasuhisa 3.7
For For Elect Director Hori, Shushi 3.8
For For Appoint Alternate Statutory Auditor Takagi,
Motaichi
4
Swedish Match Ab
Meeting Date: 12/16/2016 Country: Sweden
Meeting Type: Special Ticker: SWMA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Open Meeting; Elect Chairman of Meeting For For
For For Prepare and Approve List of Shareholders 2
For For Designate Inspector(s) of Minutes of Meeting 3
For For Acknowledge Proper Convening of Meeting 4
For For Approve Agenda of Meeting 5
For For Approve Extraordinary Dividends of SEK 9.50 Per Share
6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
JSW Steel Ltd.
Meeting Date: 12/17/2016 Country: India
Meeting Type: Special Ticker: 500228
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Stock Split For For
For For Amend Memorandum of Association to Reflect Changes in Capital
2
For For Amend Articles of Association to Reflect Changes in Capital
3
For For Approve Related Party Transactions with JSW International Tradecorp Pte. Ltd., Singapore
4
GMO PAYMENT GATEWAY INC
Meeting Date: 12/18/2016 Country: Japan
Meeting Type: Annual Ticker: 3769
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 27
For For
For For Amend Articles to Amend Provisions on Number
of Directors
2
For For Elect Director Kumagai, Masatoshi 3.1
For For Elect Director Ainoura, Issei 3.2
For For Elect Director Muramatsu, Ryu 3.3
For For Elect Director Isozaki, Satoru 3.4
For For Elect Director Hisada, Yuichi 3.5
For For Elect Director Kimura, Yasuhiko 3.6
For For Elect Director Murakami, Tomoyuki 3.7
For For Elect Director Sugiyama, Shinichi 3.8
For For Elect Director Arai, Yusuke 3.9
For For Elect Director Onagi, Masaya 3.10
For For Elect Director Sato, Akio 3.11
For For Elect Director Yasuda, Masashi 3.12
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
GMO PAYMENT GATEWAY INC Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Yoshioka, Masaru 3.13
For For Appoint Statutory Auditor Yoshida, Kazutaka 4
For For Appoint Alternate Statutory Auditor Okamoto,
Kazuhiko
5
For For Approve Aggregate Compensation Ceiling for
Directors
6
Bank Hapoalim Ltd.
Meeting Date: 12/19/2016 Country: Israel
Meeting Type: Special Ticker: POLI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Compensation Policy for the Directors and Officers of the Company
For For
For For Approve Employment Terms of the Company's CEO
2
Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager
A
Voter Rationale: Vote against is warranted due to the administrative nature of the proposal.
Against None If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR.
Otherwise, vote against.
B1
Voter Rationale: Vote against is warranted due to the administrative nature of the proposal.
Against None If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.
B2
Voter Rationale: Vote against is warranted due to the administrative nature of the proposal.
For None If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.
B3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
BR Malls Participacoes S.A.
Meeting Date: 12/19/2016 Country: Brazil
Meeting Type: Special Ticker: BRML3
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Ratify IAUD Auditores Independentes S/S as the Independent Firm to Appraise Proposed
Transactions
For For
For For Approve Independent Firm's Appraisal 2
For For Approve Absorption of Ecisa Engenharia, Comercio e Industria Ltda (Ecisa)
3
Mitsubishi Research Institute, Inc.
Meeting Date: 12/19/2016 Country: Japan
Meeting Type: Annual Ticker: 3636
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 35
For For
For For Elect Director Omori, Kyota 2.1
For For Elect Director Morisaki, Takashi 2.2
For For Elect Director Yoshikawa, Shigeaki 2.3
For For Elect Director Matsushita, Takehiko 2.4
For For Elect Director Kuroyanagi, Nobuo 2.5
For For Elect Director Sasaki, Mikio 2.6
For For Elect Director Tsukuda, Kazuo 2.7
For For Elect Director Sota, Taga 2.8
For For Appoint Statutory Auditor Nishioka, Koichi 3.1
Against For Appoint Statutory Auditor Matsumiya, Toshihiko 3.2
Voter Rationale: Concerned about statutory auditor's affiliation with the company's previous audit firm.
For For Approve Trust-Type Equity Compensation Plan 4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
VANGUARD FUNDS PLC - Vanguard FTSE 100 ETF
Meeting Date: 12/19/2016 Country: Ireland
Meeting Type: Annual Ticker: VUKE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration
2
VANGUARD FUNDS PLC- Vanguard S&P 500 ETF
Meeting Date: 12/19/2016 Country: Ireland
Meeting Type: Annual Ticker: N/A
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve PricewaterhouseCoopers as Auditors
and Authorize Board to Fix Their Remuneration
2
British Empire Trust plc
Meeting Date: 12/20/2016 Country: United Kingdom
Meeting Type: Annual Ticker: BTEM
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
For For Approve Special Dividend 3
For For Re-elect Strone Macpherson as Director 4
For For Re-elect Steven Bates as Director 5
For For Re-elect Andrew Robson as Director 6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
British Empire Trust plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect Susan Noble as Director 7
For For Re-elect Nigel Rich as Director 8
For For Appoint KPMG LLP as Auditors 9
For For Authorise Audit Committee to Fix Remuneration
of Auditors
10
For For Approve Remuneration Report 11
For For Approve Remuneration Policy 12
For For Authorise Issue of Equity with Pre-emptive
Rights
13
For For Authorise Issue of Equity without Pre-emptive
Rights
14
For For Authorise Market Purchase of Ordinary Shares 15
FactSet Research Systems Inc.
Meeting Date: 12/20/2016 Country: USA
Meeting Type: Annual Ticker: FDS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Malcolm Frank For For
For For Elect Director Sheila B. Jordan 1.2
For For Elect Director James J. McGonigle 1.3
For For Elect Director F. Philip Snow 1.4
For For Ratify Ernst & Young LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Hosokawa Micron Corp.
Meeting Date: 12/20/2016 Country: Japan
Meeting Type: Annual Ticker: 6277
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Hosokawa Micron Corp.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 10
For For
For For Approve Reverse Stock Split to Comply with Exchange Mandate and Decrease Authorized Capital in Proportion to Reverse Stock Split
2
For For Elect Director Miyata, Kiyomi 3.1
For For Elect Director Hosokawa, Yoshio 3.2
For For Elect Director Kihara, Hitoshi 3.3
For For Elect Director Inoue, Tetsuya 3.4
For For Elect Director Shimosaka, Masao 3.5
For For Elect Director Takagi, Katsuhiko 3.6
For For Elect Director Fujioka, Tatsuo 3.7
Nishio Rent All Co. Ltd.
Meeting Date: 12/20/2016 Country: Japan
Meeting Type: Annual Ticker: 9699
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Allocation of Income, with a Final Dividend of JPY 57
For For
For For Elect Director Nishio, Masashi 2.1
For For Elect Director Tonomura, Yoshihiro 2.2
For For Elect Director Nitta, Kazuso 2.3
For For Elect Director Shibamoto, Kazunori 2.4
For For Elect Director Tsujimura, Toshio 2.5
For For Elect Director Hamada, Masayoshi 2.6
For For Elect Director Hashimoto, Koji 2.7
For For Elect Director Kitayama, Takashi 2.8
For For Elect Director Kamada, Hiroaki 2.9
For For Elect Director Shimanaka, Tetsumi 2.10
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Nishio Rent All Co. Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Hasegawa, Masahiro 2.11
For For Approve Restricted Stock Plan 3
Obara Group Inc.
Meeting Date: 12/20/2016 Country: Japan
Meeting Type: Annual Ticker: 6877
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final Dividend of JPY 60
For For
Tritax Big Box REIT plc
Meeting Date: 12/20/2016 Country: United Kingdom
Meeting Type: Special Ticker: BBOX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Amend the Investment Management Agreement For For
Banco Santander Brasil SA
Meeting Date: 12/21/2016 Country: Brazil
Meeting Type: Special Ticker: SANB4
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Directors For For
For For Ratify Remuneration of Company's Management for Fiscal Year 2016
2
For For Approve Local Long-Term Incentive Program 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Charles Stanley Group plc
Meeting Date: 12/21/2016 Country: United Kingdom
Meeting Type: Special Ticker: CAY
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Employed Investment Managers Share Plan
For For
For For Amend Performance Share Plan 2
For For Amend SAYE Option Plan 3
Empiric Student Property plc
Meeting Date: 12/21/2016 Country: United Kingdom
Meeting Type: Special Ticker: ESP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Change of Company's Investment
Policy
For For
Against For Approve Remuneration Policy 2
Voter Rationale: Individual limit under proposed Value Delivery Plan may potentially provide substantial payments to the participants.
Against For Approve Value Delivery Plan 3
Voter Rationale: The individual limit, being a percentage of the reward pool, may mean excessive payments to participants.
Formula Systems (1985) Ltd.
Meeting Date: 12/21/2016 Country: Israel
Meeting Type: Annual Ticker: FORTY
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Reelect Marek Panek as Director Until the End of the Next Annual General Meeting
For For
For For Reelect Rafal Kozlowski as Director Until the End of the Next Annual General Meeting
2
For For Reelect Dafna Cohen as Director Until the End of the Next Annual General Meeting
3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Formula Systems (1985) Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Compensation Policy for the Directors
and Officers of the Company
4
Voter Rationale: Unable to make an informed decision due to a lack of disclosure.
For None Vote FOR if you are NOT a controlling shareholder or do NOT have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain.
4A
Voter Rationale: Vote against is warranted due to the administrative nature of the proposal.
For For Reappoint Kost, Forer, Gabbay, and Kasierer as Auditors and Authorize Board to Fix Their
Remuneration
5
JX Holdings, Inc.
Meeting Date: 12/21/2016 Country: Japan
Meeting Type: Special Ticker: 5020
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Share Exchange Agreement with
TonenGeneral Sekiyu K.K. For For
For For Amend Articles to Change Company Name 2
For For Elect Director Muto, Jun 3.1
For For Elect Director Onoda, Yasushi 3.2
For For Elect Director Hirose, Takashi 3.3
For For Elect Director Miyata, Yoshiiku 3.4
For For Appoint Statutory Auditor Kuwano, Yoji 4.1
For For Appoint Statutory Auditor Takahashi, Nobuko 4.2
Speymill Deutsche Immobilien Company plc
Meeting Date: 12/21/2016 Country: Isle of Man
Meeting Type: Annual Ticker: SDIC
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Speymill Deutsche Immobilien Company plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Reelect Denham Eke as a Director 2
For For Ratify KPMG Audit LLC, Isle of Man as Auditors 3
For For Authorize Board to Fix Remuneration of Auditors 4
TonenGeneral Sekiyu K.K.
Meeting Date: 12/21/2016 Country: Japan
Meeting Type: Special Ticker: 5012
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Share Exchange Agreement with JX Holdings, Inc.
For For
For For Approve Merger Agreement with JX Nippon Oil & Energy Corp.
2
For For Approve Merger by Absorption with EMG Marketing Godo Kaisha
3
EPS Holdings Inc.
Meeting Date: 12/22/2016 Country: Japan
Meeting Type: Annual Ticker: 4282
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 15
For For
For For Elect Director Takaya, Masayuki 2
For For Appoint Statutory Auditor Tsuji, Junichiro 3
For For Appoint Alternate Statutory Auditor Tochigi,
Toshiaki
4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Grupa Lotos SA
Meeting Date: 12/22/2016 Country: Poland
Meeting Type: Special Ticker: LTS
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
Against None Approve Remuneration Policy for Management Board Members
5
Voter Rationale: Lack of disclosure
Against None Approve Remuneration Policy for Supervisory
Board Members
6
Voter Rationale: Lack of disclosure
Against None Recall Supervisory Board Member 7.1
Voter Rationale: Lack of disclosure
Against None Elect Supervisory Board Member 7.2
Voter Rationale: Lack of disclosure
Hellenic Telecommunications Organization SA
Meeting Date: 12/22/2016 Country: Greece
Meeting Type: Special Ticker: HTO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Service Arrangement between OTE S.A., OTE Group Companies, Deutsche Telecom
AG and Telekom Deutschland Gmbh
For For
For For Approve Related Party Transactions 2
Kato Sangyo Co. Ltd.
Meeting Date: 12/22/2016 Country: Japan
Meeting Type: Annual Ticker: 9869
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Kato Sangyo Co. Ltd.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 23
For For
For For Elect Director Kato, Kazuya 2.1
For For Elect Director Fukushima, Kazunari 2.2
For For Elect Director Kimura, Toshihiro 2.3
For For Elect Director Kozuki, Yutaka 2.4
For For Elect Director Yamanaka, Kenichi 2.5
For For Elect Director Ota, Takashi 2.6
For For Elect Director Nakamura, Toshinao 2.7
For For Elect Director Suga, Kimihiro 2.8
For For Elect Director Hibi, Keisuke 2.9
For For Elect Director Miyai, Machiko 2.10
For For Elect Director Yasokawa, Yusuke 2.11
For For Appoint Statutory Auditor Sagara, Hiroki 3.1
For For Appoint Statutory Auditor Yamamura, Koji 3.2
For For Appoint Statutory Auditor Moriuchi, Shigeyuki 3.3
Against For Approve Director and Statutory Auditor
Retirement Bonus
4
Voter Rationale: Use of company funds not in the best interests of shareholder investment.
Qingling Motors Co Ltd
Meeting Date: 12/22/2016 Country: China
Meeting Type: Special Ticker: 1122
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Luo Yuguang as Director and Authorize
Board to Fix His Remuneration For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Tata Motors Ltd.
Meeting Date: 12/22/2016 Country: India
Meeting Type: Special Ticker: 500570
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Remove Cyrus P. Mistry as Director None For
Voter Rationale: To minimize conflicts going forward, removal of the director is warranted.
Against None Remove Nusli N. Wadia as Director 2
Voter Rationale: Strong case not provided by the company to warrant a vote against.
Tata Motors Ltd.
Meeting Date: 12/22/2016 Country: India
Meeting Type: Special Ticker: 500570
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Remove Cyrus P. Mistry as Director None For
Voter Rationale: Having Mr Mistry on the board of Tata will create long-term instability and conflict.
Against None Remove Nusli N. Wadia as Director 2
Voter Rationale: Board not providing a strong enough rationale to warrant a vote against.
TKC Corp.
Meeting Date: 12/22/2016 Country: Japan
Meeting Type: Annual Ticker: 9746
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 40 For For
For For Amend Articles to Amend Business Lines 2
For For Elect Director Sumi, Kazuyuki 3.1
For For Elect Director Iwata, Hitoshi 3.2
For For Elect Director Iizuka, Masanori 3.3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
TKC Corp. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Ito, Makoto 3.4
For For Elect Director Yuzawa, Masao 3.5
For For Elect Director Uotani, Hitoshi 3.6
For For Elect Director Hitaka, Satoshi 3.7
For For Elect Director Ashikawa, Hiroshi 3.8
For For Elect Director Nakamura, Hiroshi 3.9
For For Elect Director Igarashi, Yasuo 3.10
For For Elect Director Taguchi, Misao 3.11
For For Appoint Statutory Auditor Takashima, Yoshiki 4.1
For For Appoint Statutory Auditor Miyashita, Tsuneo 4.2
Aspeed Technology Inc.
Meeting Date: 12/23/2016 Country: Taiwan
Meeting Type: Special Ticker: 5274
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Changes in Acquisition Agreement For For
Against For Approve Issuance of Shares via a Private Placement
2
Voter Rationale: Discounted issue price is excessive.
Against None Other Business 3
Voter Rationale: Other business not disclosed.
Athens Water Supply & Sewage (EYDAP)
Meeting Date: 12/23/2016 Country: Greece
Meeting Type: Special Ticker: EYDAP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Distribution of Prior Years' Profits For For
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Athens Water Supply & Sewage (EYDAP) Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Other Business 2
Voter Rationale: Other business not disclosed.
M.P. Evans Group plc
Meeting Date: 12/23/2016 Country: United Kingdom
Meeting Type: Special Ticker: MPE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Sale by the Company's Subsidiary M.P. Evans & Co. Limited of its Interest in PT Agro
Muko
For For
For For Approve Interim Special Dividend 2
MTI Ltd.
Meeting Date: 12/23/2016 Country: Japan
Meeting Type: Annual Ticker: 9438
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 8
For For
For For Elect Director Maeta, Toshihiro 2.1
For For Elect Director Izumi, Hiroshi 2.2
For For Elect Director Shimizu, Yoshihiro 2.3
For For Elect Director Osawa, Katsunori 2.4
For For Elect Director Matsumoto, Hiroshi 2.5
For For Elect Director Onagi, Masaya 2.6
For For Elect Director Shu, Bokushi 2.7
For For Elect Director Yamamoto, Hikaru 2.8
For For Appoint Statutory Auditor Nakamura, Yoshinobu 3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Novolipetsk Steel
Meeting Date: 12/23/2016 Country: Russia
Meeting Type: Special Ticker: NLMK
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Interim Dividends for First Nine Months of Fiscal 2016
For For
For For Approve New Edition of Charter 2.1
For For Approve New Edition of Regulations on General Meetings
2.2
For For Approve New Edition of Regulations on Board of Directors
2.3
For For Approve New Edition of Regulations on Management
2.4
TransForce Inc.
Meeting Date: 12/23/2016 Country: Canada
Meeting Type: Special Ticker: TFI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Change Company Name to TFI International
Inc.
For For
China Life Insurance Co. Limited
Meeting Date: 12/27/2016 Country: China
Meeting Type: Special Ticker: 2628
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve 13th Five-Year Developmental Plan Outline
For For
For For Approve Ernst & Young Hua Ming as US Form 20-F Auditor for 2016
2
For For Approve Company Framework Agreement, 2017-2019 Annual Caps and Related
Transactions
3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
China Life Insurance Co. Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve CLIC Framework Agreement and CLP&C Framework Agreement, 2017-2019 Annual Caps and Related Transactions
4
For For Approve Renewal of Framework Agreement for Daily Connected Transactions Between the Company and China Guangfa Bank Co., Ltd.
5
Asian Citrus Holdings Ltd.
Meeting Date: 12/28/2016 Country: Bermuda
Meeting Type: Annual Ticker: ACHL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Ng Hoi Yue as Director For For
For For Elect Lui Ming Wah as Director 2
For For Approve HLB Hodgson Impey Cheng Limited as Independent Auditor and Authorize Board to Fix Their Remuneration
3
First Real Estate Investment Trust
Meeting Date: 12/28/2016 Country: Singapore
Meeting Type: Special Ticker: AW9U
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve the SHLB Acquisition and the SHLB
Master Lease For For
Forbidden Technologies plc
Meeting Date: 12/28/2016 Country: United Kingdom
Meeting Type: Special Ticker: FBT
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Forbidden Technologies plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorise Issue of Equity without Pre-emptive
Rights Pursuant to the Capital Raising
For For
Ituran Location and Control Ltd.
Meeting Date: 12/28/2016 Country: Israel
Meeting Type: Annual Ticker: ITRN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Reappoint Fahn Kanne as Auditors and Authorize Board to Fix Their Remuneration
For For
For For Reelect Eyal Sheratzky as Director for a Three-Year Period
3.1
For For Reelect Efraim Sheratzky as Director for a Three-Year Period
3.2
For For Reelect Tal Sheratzky-Jaffa as Director for a Three-Year Period
3.3
Against For Reelect Yoav Kahane as Director for a Three-Year Period
3.4
Voter Rationale: Lack of independent representation on the audit committee.
For For Reelect Gideon Kotler as External Director for a
Three-Year Period
4
Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager
4A
Voter Rationale: Administrative
Lojas Americanas S.A.
Meeting Date: 12/28/2016 Country: Brazil
Meeting Type: Special Ticker: LAME4
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Lojas Americanas S.A.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Increase in Authorized Capital and
Amend Article 5
For For
For For Consolidate Bylaws 2
Zhejiang Expressway Co., Ltd.
Meeting Date: 12/28/2016 Country: China
Meeting Type: Special Ticker: 576
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Share Purchase Agreement and Related Transactions
For For
For For Approve Interim Dividend 2
For For Elect He Meiyun as Supervisor 3
Against For Approve Issuance of H Share Convertible Bonds and Related Transactions
4
Voter Rationale: Concerns of excessive dilution to existing shareholders.The stock that could be issued represents more than 10 percent of the current outstanding shares or exceeds the recommended pre-emption guidelines.
For For Amend Articles of Association 5
Ipsos
Meeting Date: 12/29/2016 Country: France
Meeting Type: Special Ticker: IPS
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Merger Agreement between LT
Participations and the Company For For
For For Pursuant to Approval of Item 1, Issue 8.88 Million Shares in Connection with Acquisition of LT Participations
2
For For Authorize Decrease in Share Capital via Cancellation of Shares Previously Held by LT Participations
3
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Ipsos Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Allocation of Merger Premium 4
For For Acknowledge the Completion of the Merger and the Dissolution without Liquidation of LT Participations
5
For For Authorize Filing of Required Documents/Other
Formalities
6
New World Development Co. Ltd.
Meeting Date: 12/29/2016 Country: Hong Kong
Meeting Type: Special Ticker: 17
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Sale and Purchase Agreement and Related Transactions
For For
NMC Health plc
Meeting Date: 12/29/2016 Country: United Kingdom
Meeting Type: Special Ticker: NMC
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Policy For Against
Voter Rationale: remuneration not in line with best practice.
Against For Amend Long Term Incentive Plan 2
Voter Rationale: remuneration not in line with best practice.
NMC Health plc
Meeting Date: 12/29/2016 Country: United Kingdom
Meeting Type: Special Ticker: NMC
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
NMC Health plc
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Acquisition of the Al Zahra Hospital For For
NWS Holdings Limited
Meeting Date: 12/29/2016 Country: Bermuda
Meeting Type: Special Ticker: 659
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Sale and Purchase Agreement and Related Transactions
For For
Shanghai Electric Group Co., Ltd.
Meeting Date: 12/29/2016 Country: China
Meeting Type: Special Ticker: 2727
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Approve Parties to the Transaction in Relation to the Proposed Assets Acquisition by Issuance of Shares
For For
For For Approve Transaction Subjects in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.2
For For Approve Basis of Pricing and Transaction Price in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.3
For For Approve Arrangement for Profit or Loss for the Period in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.4
For For Approve Procedures for Transfer of Ownership and Liability for Breach of Contract in Relation to the Proposed Assets Acquisition by Issuance
of Shares
1.5
For For Approve Class and Nominal Value of Shares to be Issued in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.6
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Shanghai Electric Group Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Target Subscribers for Shares to be Issued in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.7
For For Approve Method of Issuance and Subscription for Shares in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.8
For For Approve Pricing Benchmark Date, Basis of Pricing and Issue Price for the Issuance of Shares in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.9
For For Approve Number of Shares to be Issued in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.10
For For Approve Lock-up Period Arrangement in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.11
For For Approve Listing Place of the Shares to be Issued in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.12
For For Approve Treatment for the Company's Undistributed Retained Earnings Prior to the Shares Issuance in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.13
For For Approve Validity of the Resolutions in Relation to the Proposed Assets Acquisition by Issuance of Shares
1.14
For For Approve Class and Nominal Value of Shares to be Issued in Relation to the Issuance of Shares for Supporting Funds Raising
1.15
For For Approve Target Subscribers and Methods of Subscription in Relation to the Issuance of Shares for Supporting Funds Raising
1.16
For For Approve Issue Price in Relation to the Issuance
of Shares for Supporting Funds Raising
1.17
For For Approve Number of Shares to be Issued in Relation to the Issuance of Shares for Supporting Funds Raising
1.18
For For Approve Use of Proceeds in Relation to the
Issuance of Shares for Supporting Funds Raising
1.19
For For Approve Lock-up Period Arrangement in Relation to the Issuance of Shares for Supporting Funds Raising
1.20
For For Approve Listing Place of the Shares to be Issued in Relation to the Issuance of Shares for Supporting Funds Raising
1.21
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Shanghai Electric Group Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Validity of the Resolutions in Relation to the Issuance of Shares for Supporting Funds Raising
1.22
For For Approve the Report for Assets Acquisition by Issuance of Shares and Supporting Funds Raising by the Company and Its Summary
2
For For Approve Execution of the Assets Acquisition by
Issuance of Shares Agreement
3
For For Approve Execution of the Profit Compensation
Agreement
4
For For Approve Execution of Share Subscription
Agreement
5
For For Approve Possible Dilution of the Company's
Current Earnings per Share
6
For For Authorize Board to Ratify and Execute Approved
Resolutions
7
For For Approve the Report on the Use of Proceeds
from Previous Fund Raising Activities
8
For For Amend Articles of Association 9
For For Approve Connected Transactions Involving Assets Acquisition by Issuance of Shares and Supporting Funds Raising
1
For For Approve Independence of Appraisal Firms, Reasonableness of Appraisal Assumptions, Relevance of Appraisal Methodology and Purpose and Fairness of Valuation
2
For For Approve Relevant Reports Issued by Audit Firms
and Asset Appraisal Firms
3
For For Approve Compliance with Relevant Laws and Regulations of the Assets Acquisition by Issuance of Shares and Supporting Funds Raising
4
For For Approve Compliance with Clause 4 Under Requirements on Certain Issues Concerning Regulating the Material Asset Reorganizations of Listed Companies
5
For For Approve Continuing Connected Transactions and Proposed Annual Caps Under the SEC Framework Deposit Agreement
6
For For Approve Continuing Connected Transactions and Proposed Annual Caps Under the SEC Framework Loan Agreement
7
For For Approve Continuing Connected Transactions and Proposed Annual Caps Under the MESMEE Framework Purchase Agreement
8
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Taro Pharmaceutical Industries Ltd.
Meeting Date: 12/29/2016 Country: Israel
Meeting Type: Annual Ticker: TARO
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve and Update the Compensation Policy of the Company
For Against
Voter Rationale: Lack of disclosure.
For For Reelect Dilip Shanghvi as Director Until the End
of the Next Annual General Meeting
2.1
For For Reelect Sudhir Valia as Director Until the End of
the Next Annual General Meeting
2.2
For For Reelect James Kedrowski as Director Until the
End of the Next Annual General Meeting
2.3
For For Reelect Dov Pekelman as Director Until the End
of the Next Annual General Meeting
2.4
For For Approve Employment Terms of Dilip Shanghvi,
Chairman
3
For For Approve Employment Terms of Sudhir Valia,
Director
4
For For Approve Compensation of Dov Pekelman,
Director
5
Against For Elect Uday Baldota as Director and Approve
Director's Remuneration
6
Voter Rationale: Lack of disclosure.
For For Elect Linda Benshoshan as External Director for
a Three-Year Period
7.1
For For Elect Elhanan Streit as External Director for a
Three-Year Period
7.2
For For Elect Abhay Gandhi as Director and Approve Director's Remuneration
8
For For Reappoint Ziv Haft as Auditors and Authorize Board to Fix Their Remuneration
9
For None Vote FOR if you are a not a controlling shareholder or do not have a personal interest in one or several resolutions, as indicated in the proxy card; You may not abstain. If you do not vote FOR, please provide an explanation to your
account manager
A
Voter Rationale: Administrative
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Exxaro Resources Ltd
Meeting Date: 12/30/2016 Country: South Africa
Meeting Type: Special Ticker: EXX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Authorise Specific Repurchase of Shares from Main Street 333 Proprietary Limited
For For
For For Approve Revocation of Special Resolution 1 if the Scheme is Terminated
2
For For Authorise Ratification of Approved Resolutions 1
Lucky Cement Limited
Meeting Date: 12/30/2016 Country: Pakistan
Meeting Type: Special Ticker: LUCK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Minutes of Previous Meeting For For
For For Approve Acquisition of Shares in Associated
Project Company
2
Against For Other Business 3
Voter Rationale: Other business not disclosed.
Migdal Insurance & Financial Holdings Ltd.
Meeting Date: 12/30/2016 Country: Israel
Meeting Type: Special Ticker: MGDL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Compensation Policy for the Directors
and Officers of the Company For For
For For Approve Compensation of Yohanan Danino,
Chairman
2
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Migdal Insurance & Financial Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Empoyment Terms of Ofer Eliahu, CEO of Migdal Insurance Company Ltd., Subsidiary, and Son of the Controlling Shareholder
3
For For Approve Employment Terms of Eran Czerninski,
CEO
4
For For Approve Framework Terms of Annual Bonus for
2017-2019 to Eli Eliahu, Business Manager
5
For For Approve Indemnification Agreements to Shlomo
Eliahu, Ofer Eliahu, and Israel Eliahu
6
For For Approve Exemption Agreements to Officers who
Are Not Among the Controlling Shareholders
7
For For Approve Exemption Agreements to Officers who
have a Personal Interest
8
Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager
A
Voter Rationale: Administrative
For None If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.
B1
Voter Rationale: Administrative
For None If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR.
Otherwise, vote against.
B2
Voter Rationale: Administrative
For None If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.
B3
Voter Rationale: Administrative
Red Star Macalline Group Corporation Ltd
Meeting Date: 12/30/2016 Country: China
Meeting Type: Special Ticker: 1528
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Red Star Macalline Group Corporation Ltd
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Che Jianxing as Director For For
For For Elect Zhang Qi as Director 2
For For Elect Che Jianfang as Director 3
For For Elect Jiang Xiaozhong as Director 4
For For Elect Chen Shuhong as Director 5
For For Elect Xu Guofeng as Director 6
For For Elect Joseph Raymond Gagnon as Director 7
For For Elect Zhang Qiqi as Director 8
For For Elect Li Zhenning as Director 9
For For Elect Ding Yuan as Director 10
Against For Elect Lee Kwan Hung as Director 11
Voter Rationale: Overboarding
Against For Elect Qian Shizheng as Director 12
Voter Rationale: Overboarding
For For Elect Ng Ellen Hoi Ying as Supervisor 13
For For Elect Zheng Hongtao as Supervisor 14
For For Elect Chen Gang as Supervisor 15
RedT Energy plc
Meeting Date: 12/30/2016 Country: Jersey
Meeting Type: Special Ticker: RED
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Issuance of Ordinary Shares Pursuant
to the Placing and Open Offer
For For
Romgaz SA
Meeting Date: 12/30/2016 Country: Romania
Meeting Type: Special Ticker: SNG
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Romgaz SA
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Establish Fixed Monthly Remuneration for
Directors Elected on Nov. 15, 2016
None For
Voter Rationale: With management
Against None Approve Contract of Mandate for Directors Elected on Nov. 15, 2016
2
Voter Rationale: Lack of disclosure
Against None Empower Representative to Sign Contracts with Directors Elected on Nov. 15, 2016
3
Voter Rationale: Lack of disclosure
For For Approve Activity Report for Q1-Q3 2016 4
Voter Rationale: With management
For For Approve Record Date for Effectiveness of This Meeting's Resolutions
5
Voter Rationale: With management
For For Authorize Filing of Required Documents/Other Formalities
6
Voter Rationale: With management
Sinopharm Group Co., Ltd.
Meeting Date: 12/30/2016 Country: China
Meeting Type: Special Ticker: 1099
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Issuance of Accounts Receivable Asset-backed Securities in the PRC and Related
Transactions
For For
Woori Bank
Meeting Date: 12/30/2016 Country: South Korea
Meeting Type: Special Ticker: A000030
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Woori Bank
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles of Incorporation For For
For For Elect Ro Sung-tae as Outside Director 2.1
For For Elect Park Sang-yong as Outside Director 2.2
For For Elect Zhiping Tian as Outside Director 2.3
For For Elect Chang Dong-woo as Outside Director 2.4
For For Elect Shin Sang-hoon as Outside Director 3
For For Elect Chang Dong-woo as Member of Audit
Committee
4
Zijin Mining Group Co., Ltd.
Meeting Date: 12/30/2016 Country: China
Meeting Type: Special Ticker: 2899
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Change of Business Scope and Amend Articles of Association
For For
For For Approve Remuneration and Assessment Proposal of Directors and Supervisors
3
For For Approve One-off Use of Personal Option Bonus Remuneration by Executive Directors and Chairman of the Supervisory Committee for Partial Subscription Under the Employee Stock
Ownership Scheme
4
For For Approve Amendments to the Administrative Measures of Connected Transactions
5
For For Elect Chen Jinghe as Director 6.1
For For Elect Lan Fusheng as Director 6.2
For For Elect Zou Laichang as Director 6.3
For For Elect Lin Hongfu as Director 6.4
For For Elect Fang Qixue as Director 6.5
For For Elect Lin Hongying as Director 6.6
For For Elect Li Jian as Director 6.7
Vote Summary Report Reporting Period: 12/01/2016 to 12/31/2016
Zijin Mining Group Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Lu Shihua as Director 7.1
For For Elect Zhu Guang as Director 7.2
For For Elect Sit Hoi Wah, Kenneth as Director 7.3
For For Elect Cai Meifeng as Director 7.4
For For Elect Lin Shuiqing as Supervisor 8.1
For For Elect Xu Qiang as Supervisor 8.2
For For Elect Fan Wensheng as Supervisor 8.3