The Trustee will retain the right to vote on shareholder resolutions, where equity investments are held directly.
The Trustee uses the ACSI Voting Alert Service, which assesses company votes against the ACSI Governance Guidelines and recommends voting outcomes. These guidelines are a set of practices that ACSI believes companies should follow, and cover topics such as board structure, operation and compensation. The Trustee is in broad agreement with the ACSI Guidelines, but retains the right to vote differently to ACSI recommendations if it believes that it is in the best interests of the members of the Fund and/or the VPST to do so.
The Trustee assesses Managers ESG policies as part of Vision Super’s Manager assessment process. Managers may vote Vision Super’s shares in accordance with their ESG Policies but Vision Super retains the right to override Managers for directly held investments. Vision Super will liaise with Managers where an override is being considered.
The Trustee will exercise the voting rights it has with respect to its directly-held shares in accordance with the ACSI recommendations. Any contentious issues will be referred to the Board for approval. Where cost effective, the Trustee will seek to vote its shares outside of the ACSI voting Alert Service universe.