As an asset owner, we believe that we have an obligation to seek to ensure that the companies and other assets in which we invest in are governed and managed in an appropriate way that will enhance performance over the longer term, and thereby produce the best financial outcome for members. For this reason, Aware Super takes an active interest in the ESG practices of the companies and assets in which they invest, and seek to exert influence on their governance, policies, practices and management through share voting, engagement and advocacy.
We have a significant exposure to listed share investments. Exercising the voting rights attached to shares held in public companies is something we regard as being integral to active ownership. Share voting is an important tool for engaging with companies. Voting is an effective way for the Trustee and other investors to publicly express its views on what a company is doing right, and what a company needs to improve.
Our proxy voting policy can be found in our Responsible Investment: Environmental, Social & Corporate Governance Policy.
The following information provides summaries of voting activity undertaken during the period 1 January 2022 to 31 March 2022.
Our current proxy advisers are: the Australian Council of Superannuation Investors (ACSI) (domestic) and CGI Glass Lewis (international).
We are able to support a proposal by voting ‘For’, against a proposal by voting ‘Against’ or choose not to vote either for or against by ‘Abstaining’ or ‘Withheld’. Occasionally there may be a split vote where our managers have voted differently on a resolution.
Summary of Voting for Period
| Proxy Voting Details | Number of Resolutions | % of Total Resolutions |
|---|---|---|
| Total Resolutions | 4,734 | |
| Resolution Type: Management | 4,655 | 98% |
| Resolution Type: Shareholder | 79 | 2% |
| Total Votes "For" | 4,009 | 85% |
| Total Votes "Against" | 579 | 12% |
| Total Votes "Abstained" | 72 | 1.5% |
| Total "Split" Votes | 59 | 1% |
| Total "No Votes" / "Withheld" | 14 | 0.5% |
Summary of Voting on Remuneration Reports
| Proxy Voting Details | Number of Resolutions | % of Total Remuneration Resolutions |
|---|---|---|
| Total Remuneration Reports | 388 | |
| Total Votes "For" | 334 | 86% |
Companies typically raise proposals to be resolved through proxy voting. On occasion, shareholders may bring proposals to be voted upon. The table below contains a summary of shareholder proposals. Proposals are company proposals unless specified in the text of the proposal. For example, shareholder proposals will generally include the wording: ‘Please Note That This Resolution Is A Shareholder Proposal’, or ‘To consider a shareholder proposal regarding...’.
Summary of Voting on Shareholder Raised Resolutions
| Proxy Voting Details | Number of Resolutions | % of Total Shareholder Raised Resolutions |
|---|---|---|
| Total Resolutions | 79 | |
| Total Votes "For" | 23 | 29% |
| Total Votes "Against" | 53 | 67% |
| Total Votes "Abstain" | 3 | 4% |
| Total Votes "Combination" | 0 | 0% |
