Proxy Voting Policy
Club Plus Super holds voting rights in relation to shares of Australian listed companies that we invest in. Voting rights are an important aspect of share ownership and exercising them is a means by which we can express our views regarding a company’s strategy, leadership, remuneration, mergers and acquisitions and its ESG practices and disclosure.
Our approach to proxy voting (extract from Investment Policy Statment)
The Trustee recognises that voting rights are an important aspect of share ownership and should be managed effectively. Voting rights should be exercised and proxy votes should be cast in a manner that seeks to improve the long-term investment performance of the Fund in the best interests of members.
For the Trustee’s investments in Australian share mandates, the Trustee requires the investment managers to have a written Board approved policy on the exercising of proxy votes and formal internal procedures to ensure the policy is applied consistently. The Trustee has delegated the authority and responsibility for exercising the Trustee’s proxy votes to these investment managers and directs them to actively participate in all corporate actions and voting rights and requires its voting to be in the best interests of members of the Fund.
While the investment managers will retain autonomy for exercising proxy votes, the Trustee retains the ability to direct investment managers in relation to the exercise of proxy voting and corporate actions but will only do so where it is deemed to be in the best interests of the Fund. The exercise of proxy votes by investment managers is monitored by the Trustee on an annual basis.
It is recognised that the Trustee’s investment in international shares is via pooled unit trusts where the investment manager owns the voting rights and, accordingly, the Trustee does not have the opportunity to influence voting decisions.
In accordance with the SIS Act (2.38), the Trustee discloses its policy with regards proxy voting on the Fund’s website, as well as a summary of how the entity has exercised its voting rights in relation to shares in listed companies during the previous financial year.