Sandhurst’s Investment Committee (Committee) has the authority and responsibility for making decisions on voting at Australian company meetings on all resolutions in relation to its ASX listed securities investments held through The Bendigo Superannuation Plan (the Plan).
The Committee’s guiding principle on proxy voting is to consider and vote where it has a reasonable basis for expecting the votes, to some level of materiality, will increase returns for members by more than any costs associated with voting.
Voting is done with a full understanding of the matter at hand and a full consideration of the implications of voting one way or another. The Committee does not make use of proxy advisor services.
Sandhurst will only vote proxies where there is a high likelihood of adding value. The relative scale and exposure of the whole Plan will be considered when voting proxies. In instances where the Plan has a very small number of proxies as a portion of total issuance, it is unlikely these proxies will have a material impact on the company and as such will not be voted.
The voting record (including abstentions) in respect of the Plan will be made publically available no later than 20 business days after the close of financial year.
Proxy voting summary for the period 1 July 2018 - 30 June 2019