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 Asia ex-Japan Fund

The table below shows how we have exercised our vote for shares held in the Asia ex-Japan Fund for FY2019.

  Meetings Resolutions Voted For Voted Against Abstained
Number 67 552 495 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 Asia Pacific ex-Japan Fund

The table below shows how we have exercised our vote for shares held in the Asia Pacific ex-Japan Fund for FY2019.

  Meetings Resolutions Voted For Voted Against Abstained
Number 74 666 610 54 2
% 100 100 92 8 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.

Proxy voting outcomes for the Global Infrastructure Fund

The table below shows how we have exercised our vote for global listed infrastructure securities held in the Maple-Brown Abbott Global 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 30 "against" votes, 67% related to the election of a Director, 7% related to remuneration and 26% related to other governance.

This information has not been prepared specifically for Australian investors. It:

  • may contain references to dollar amounts which are not Australian dollars;
  • may contain financial information which is not prepared in accordance with Australian law or practices;
  • may not address risks associated with investment in foreign currency denominated investments; and
  • does not address Australian tax issues.