Voting & Engagement

AXA Investment Managers' (AXA IM) approach to corporate governance derives from our strongly held belief that company management, directors and investors all have critical yet unique roles to play in sustaining the health of financial markets and ensuring the efficient allocation of capital.

Our goal is to work actively and openly to encourage companies in which we invest to align their policy and practices with good corporate governance standards.

Our organisation

AXA IM has a Corporate Governance Committee which guides and oversees our corporate governance work.  Members include senior AXA IM personnel who have well established corporate governance profiles.

The Committee also includes representatives of fund management teams who bring investment perspectives to the Committee's deliberations and members of the Responsible Investment team.

Voting

We believe that voting at company meetings is an important part of the dialogue between a company and its shareholders and a fundamental aspect of our fiduciary duty to our clients.  Considered voting is at the core of our corporate governance activity.

We recognise that corporate governance practices vary in different jurisdictions and that the companies in which we invest are subject to different local laws and regulations on governance matters. When reviewing resolutions proposed at general meetings we judge resolutions against fundamental principles of good corporate governance, while taking account of best practice standards pertinent to the relevant market and the Company's particular circumstances.

Engagement

AXA IM holds regular discussions with the executives and board members of investee companies on issues that are material to the long-term success of the company.  These discussions cover a range of topics including company strategy, operational performance, acquisition and disposal strategy; board issues, executive/board performance, and material environmental, social and governance issues.