About our voting policy
Sandhurst Trustees (Sandhurst, we, our), as responsible entity, may hold direct investment in shares listed on the Australian Securities Exchange (ASX) as part of our managed fund investments. Sandhurst recognises the strong link between good corporate governance and investment value. We are of the view that corporate governance and the exercise of voting rights are an important aspect of any investment decision process. To assist our investors in understanding our approach to exercising our voting rights with regards to shares listed on the ASX, Sandhurst has developed a voting policy that sets out its guiding principles.
Our voting record for shares listed on the ASX for the year ended 30 June 2025 is available here.
What is this policy about?
Sandhurst aims to create wealth for investors by providing managed funds that are either directly or indirectly managed by specialised investment managers. This policy details the approach that Sandhurst will follow, where we have the ability to participate in the governance of investment in shares listed on the ASX by exercising voting rights. The guiding principle of this policy is that, generally, where Sandhurst has ‘direct’ voting rights, they should be exercised.
This document is consistent with the Financial Services Council's (FSC's) Standard 13 Voting Policy, Voting Record and Disclosure and sets out Sandhurst's policy in relation to voting.
Which products does this policy apply to?
At the date of approval, this policy is applicable for the following unlisted managed investment scheme/s:
- Sandhurst Industrial Share Fund (ARSN 090 472 325)
Investment Manager: Investors Mutual Limited
What are our voting principles?
Sandhurst recognises the strong link between good corporate governance and investment value. Corporate governance deals with the way in which companies are directed and controlled.
Sandhurst is of the view that corporate governance and the exercise of voting rights are an important aspect of any investment decision process. We appreciate that in some cases there is the potential to influence corporate governance and policy by the exercise of our voting rights.
Sandhurst considers the following in exercising its voting rights (whether to vote or abstain from voting):
- Is the action in the best interests of investors with the objective of preserving and increasing the value of investments;
- Is the action allowable under the Corporations Act or other laws; and
- Does the action cause a conflict of interest, can it be resolved lawfully or appropriately in accordance with our policies for managing conflicts.
Where an investment management agreement is in place for outsourced management of ASX-listed investments, we provide the specialised investment manager(s) with the authorisation and responsibility of voting that is consistent with our Voting Policy and our voting principles. Although we do not otherwise engage a voting or proxy consultant, our investment managers may do so from time to time. Nevertheless, we will at all times retain voting and other rights in relation to scheme investments and can instruct a manager on how to vote.
In accordance with the principles above, Sandhurst will abstain from voting in relation to its parent company Bendigo and Adelaide Bank.
Can I review the voting records?
Each financial year, a summary of all Sandhurst's voting records for the previous year will be published, in accordance with FSC Standard 13.
Responsibility for this Policy
This policy is reviewed and approved annually by the Sandhurst Board of Directors. The General Manager Margin Lending and Wealth Management, and the Head of Investments, Credit and Market Risk are responsible for implementation of this policy.
