Where equity investments are held directly, the Trustee determines voting on all shareholder resolutions in accordance with our Proxy Voting Policy.
The Trustee uses the Glass Lewis ESG Policy with some customisation along with internal Investment guidelines. Glass Lewis is Vision Super’s sole proxy voting research provider, an independent company that assists in voting proxies in Australia and internationally.
Vision Super votes on all its equity shareholdings directly (not our fund managers) and carefully considers the items for voting ahead of upcoming company AGMs in order to ensure that they are aligned to the Fund’s policies and beliefs and ensuring that support of resolutions will maximise value for the Fund’s members. On some issues important to the Fund, the Trustee may vote in a different manner than that suggested by the Glass Lewis ESG Policy.
The Trustee assesses fund managers’ ESG policies as part of Vision Super’s fund manager assessment process. However, Vision Super retains voting rights of all its shares in accordance with our ESG Policies and proxy voting guidelines. Vision Super will consult with its fund managers on particularly controversial issues and where a fund manager wants to make an argument for a particular vote. Vision Super makes the final determination in all cases.
The Board regularly reviews Vision Super’s voting record to ensure consistency with policy. Where significant, the Trustee will seek to vote its shares outside of the Glass Lewis ESG Policy universe.