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Message from Sophia Rahmani, CEO & MD, Maple-Brown Abbott - COVID-19 (Coronavirus)
Message from Sophia Rahmani, CEO & MD, Maple-Brown Abbott - COVID-19 (Coronavirus)

Proxy voting

Maple-Brown Abbott has a strong history of incorporating governance, including proxy voting, into our investment process. It is our policy to vote on all proxy resolutions at all shareholder meetings for shares that we directly hold on behalf of our clients. We acknowledge however, that in some jurisdictions we may not receive timely notification of the proxy resolutions. We will not “abstain” from any resolution unless we are prevented from lodging an “against” vote by regulations in the company’s country of domicile or unless there is insufficient information on which to make an informed decision.

Voting recommendations are made after consideration of all relevant information, and may include consultation with the company and proxy advisers, for further information. The guiding principle in reaching the voting decision is what, in our opinion, is in the best interests of our clients as shareholders. For Australian investments, where our voting recommendation is counter to the Board, each analyst will provide a written explanation justifying their voting recommendation.


Proxy voting outcomes for the Australian Equity Trust

The table below shows how we have exercised our vote for Australian-listed shares held in the Maple-Brown Abbott Australian Equity Trust (including those held via the Maple-Brown Abbott Small Companies Trust) for FY2019. In accordance with our proxy voting policy we voted on all resolutions put to us for the year in question.

  Meetings Resolutions Voted For Voted Against Abstained
Number 57 331 313 18 0
% 100 100 95 5 0

Please note that the data above has been adjusted for shareholder sponsored resolutions. Of the 18 "against" votes, 67% related to remuneration and 33% related to the election of a Director.

Proxy voting outcomes for the Asian Investment Trust

The table below shows how we have exercised our vote for Asian listed shares held in the Asian Investment Trust for FY2019.

  Meetings Resolutions Voted For Voted Against Abstained
Number 68 563 506 51 6
% 100 100 90 9 1

Please note that the data above has been adjusted for shareholder sponsored resolutions. Of the 51 "against" votes, 25% related to the election of a Director, 2% related to remuneration and 73% related to other governance.

Proxy voting outcomes for the Global Listed Infrastructure Fund

The table below shows how we have exercised our vote for global listed infrastructure securities held in the Maple-Brown Abbott Global Listed Infrastructure Fund for FY2019.

  Meetings Resolutions Voted For Voted Against Abstained
Number 41 468 438 30 0
% 100 100 94 6 0

Please note that the data above has been adjusted for shareholder sponsored resolutions. Of the 54"against" votes, 26% related to the election of a Director, 2% related to remuneration and 72% related to other governance.