Voting Policy

Instilling proper governance across our investments

Voting at company meetings is an important part of the dialogue between a company and its shareholders. As an asset manager, it is a fundamental aspect of our fiduciary duty to our clients. 

Our Corporate Governance & Voting Policy is based on principles of good corporate governance which serve to protect the long-term interests of shareholders.

Guidelines for different jurisdictions and circumstances

We have developed voting guidelines for specific markets in recognition 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 them against fundamental principles of good corporate governance, taking into account best practice standards pertinent to the relevant market and that company’s particular circumstances.

Global voting overview

During 2016, we exercised our clients’ voting rights globally in line with our investment footprint.

We do not vote in markets that still require investors to block shares or have imposed onerous administrative requirements on the exercise of voting rights.

We voted at 5,408 general meetingsRepresenting 94% of general meetings held by companies in our investment universeWe voted on 56,904 proposed company resolutions

Source: AXA IM, for the 12 months ending 31 December 2016

Votes against management

We did not fully support management at 2,163 meetings or 40% of the meetings we voted at.

We voted against or abstained on 5,270 resolutions, or more than 9% of resolutions voted.

Votes against management

Votes against management visual

Source: AXA IM, for the 12 months ending 31 December 2016

Find out more about our Voting Policy in our latest RI annual Review.