Page 10 - Ausbil 2024 Annual ESG Report

Exercising our voting powers
Exercising our voting powers
In terms of corporate governance, proxy voting is a crucial ‘pinch point’ where, in conjunction with other investors, may influence companies to improve on their performance across ESG issues. Ausbil takes an active approach in the annual proxy voting season. Ausbil’s voting policy includes the principles underpinning our voting decisions, but ultimately the key consideration is to maximise the value of our clients’ investments. Ausbil’s voting statistics for 2024 are outlined in Figure 2.
Figure 2: How we exercised voting power on behalf of clients in 2024 Ausbil 2024 Voting Snapshot
Key against statistics
Resolutions
Vote against proxy recommendation
37
Vote against board recommendations
31
Shareholder proposed resolutions
8
All voting statistics
Votes
%*
All FOR vote
114
74
AGAINST on at least one resolution
34
22
ABSTAIN on at least one resolution
7
4
Total proxy meeting votes executed over AGM season 2024 155
*If percentages add to over 100% it is because of rounding up to no decimal places. Source: Ausbil Investment Management Limited as at December 31, 2024.
The 2024 Annual General Meeting (AGM) season had the second highest number of strikes against remuneration reports since 2011 and more second strikes driven by poor shareholder returns, performance issues, and deeper analysis of short-term remuneration approaches considered to lack ‘skin in the game’.
This led to several engagements with companies on these issues during the AGM season. We gained insight into the intentions behind the company’s decisions and had the opportunity to propose our preferred outcomes or suggest any changes we would like to see in the future.
All voting statistics by resolution
Resolutions
%*
For
911
94
Against
51
5
Abstain
9
1
Total resolution voted on in 2024
971
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Annual ESG Report l March 2025