Corporate governance

Transparency

To assist our clients in achieving the returns on their investments that they expect, we seek high standards of transparency, corporate governance and social responsibility from the companies in which we invest. This involves monitoring and entering into dialogue with companies on key aspects of their corporate governance and their relationship with society as a whole.

Proxy voting

Recognising that we can influence company policy on matters of corporate governance by virtue of the shareholdings under our management, we lodge considered proxy votes on all resolutions and engage with companies on issues such as executive remuneration, board composition and risk management. All this is done in the interest of driving better long term investment outcomes for our clients. View our Proxy Voting Policy.

Detailed analysis

For us flashing lights appear when companies lack transparency, when boards are not representative of their public shareholders, or when pay structures reward management for actions contrary to shareholder interests. Diligent analysis of these issues can help identify which companies to invest in and which to avoid.

Proxy Voting disclosure

• AFS Extended Alpha Fund Proxy Voting disclosure 2017
• AMP Capital Australian Equity Income Fund Proxy Voting disclosure 2017
• AMP Capital Equity Opportunities Fund Proxy Voting disclosure 2017
• AMP Capital Equity Fund Proxy Voting disclosure 2017
• Australian Equity Concentrated Fund Proxy Voting disclosure 2017
• Sustainable Share Fund Proxy Voting disclosure 2017
• Value Plus Australian Share Fund Proxy Voting disclosure 2017

Vote disclosure

We believe it is our fiduciary duty to exercise voting rights at companies where we hold shares

For more than 20 years we have submitted considered proxy voting instructions on all resolutions where we have the authority to vote.

Since 2005 AMP Capital’s Corporate Governance Reports have included a summary of votes cast

Each edition contains an explanation of our proxy voting activity and lists the companies where votes were cast against director-election or remuneration-related resolutions.

Proxy voting needs to be disclosed on a per scheme, per investment and per resolution basis

2015 marks the first year of this requirement by the Financial Services Council*. Schemes are required to disclose votes within three months of their financial year-end. One AMP Capital scheme (the Blue Chip Trust) meets that criteria and disclosure of its proxy voting activity is available below. Disclosure of votes cast for other schemes will be made after their financial year ends on 31 December 2015

* FSC Standard No.13: voting policy, voting record and disclosure

Use of proxy consultants

We have dedicated internal resources that deal with the analysis and execution of proxy voting

Having been a pioneer of shareholder engagement and proxy voting in Australia, our proxy analysis benefits from strong corporate access and a comprehensive in-house database.

We supplement our internal research by subscribing to proxy advisor research

We currently subscribe to proxy advice from Ownership Matters, Glass Lewis and ISS. Each proxy advisor is contracted to provide advice on a different region. The nature of advice received, and the extent to which it influences our voting decisions, varies between advisers and regions.

After each proxy season AMP Capital publishes a comprehensive corporate governance report. This report discloses our voting statistics, names companies where resolutions were voted against and presents various topical articles and research on governance.