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As an asset owner, we 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. This is why we take an active interest in the ESG practices of the companies and assets in which we 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 & Governance Policy (PDF, 260kB)

The following information provides summaries of voting activity undertaken during the period 1 July 2023 to 30 September 2023.

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 ‘Withholding’. Occasionally there may be a split vote where our managers have voted differently on a resolution. 

Summary of Voting for Period

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Proxy Voting Details Number of Resolutions % of Total Resolutions
Total Resolutions 3,014  
Resolution Type: Management 2,998 99%
Resolution Type: Shareholder 16 1%
Total Votes "For" 2,526 83%
Total Votes "Against" 449 15%
Total Votes "Abstained" 20 1%
Total "Split" Votes 19 1%
Total "No Votes" / "Withheld" 0 0%

Remuneration Reports

Remuneration Reports include the specific compensation outcomes for companies where changes require shareholder approval. The table below includes outcomes of votes on Remuneration Reports.

Summary of Voting on Remuneration Reports

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Proxy Voting Details Number of Resolutions % of Total Remuneration Resolutions
Total Remuneration Reports 296  
Total Votes "For" 253 85%

Shareholder Raised Resolutions

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

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Proxy Voting Details Number of Resolutions % of Total Shareholder Raised Resolutions
Total Resolutions 16  
Total Votes "For" 7 44%
Total Votes "Against" 9 56%
Total Votes "Abstained" 0 0%
Total Votes "Combination" 0 0%

Voting Summaries

Voting summary for 1 January 2020 to 31 March 2020
Voting summary for 1 October 2020 to 31 December 2020
Voting summary for 1 April 2021 to 30 June 2021
Voting summary for 1 July 2023 to 30 September 2023
Voting summary for 2016-17
Voting summary for 1 January 2023 to 31 March 2023
Voting summary for 1 July 2019 to 30 September 2019
Voting summary for 1 April 2023 to 30 June 2023
Voting summary for 1 July 2021 to 30 September 2021
Voting summary for 1 January 2022 to 31 March 2022
Voting summary for 2017-18
Voting summary for 2015-16
Voting summary for 1 April 2020 to 30 June 2020
Voting summary for 2013-14
Voting summary for 2018-19
Voting summary for 1 October 2022 to 31 December 2022
Voting summary for 2014-15
Voting summary for 1 January 2021 to 31 March 2021
Voting summary for 1 October 2021 to 31 December 2021
Voting summary for 1 October 2019 to 31 December 2019
Voting summary for 1 July 2022 to 30 September 2022
Voting summary for 1 April 2022 to 30 June 2022
Voting summary for 1 July 2020 to 30 September 2020