Question and Response:
Q.1 Please may you provide me with the proxy voting records of the Northumberland County Council Pension Fund for the period of 1st July 2018 to 31st December 2018. For the avoidance of doubt, I am referring to the investments made by the Pension Fund rather than any electoral voting.
Ideally, I would like to have the following information in electronic format:
· Name of Issuer
· Issuer Identifier e.g. Ticker or CUSIP
· Date of Shareholder Meeting
· Type of Shareholder Meeting (Annual, Special etc.)
· Proposal No.
· Proposer (Management / Shareholder)
· Vote cast by Northumberland County Council Pension Fund
· Entity responsible for vote decision (Internal/ external asset manager (if external, please name) / proxy voting advisor (ISS, Glass Lewis etc.)
In addition, please indicate whether the Northumberland County Council Pension Fund has its own proxy voting policy or whether you use that of an external provider (Please Name).
A.1 Please see attached, these documents hold the above information you have requested. Please also see below, for more information: (from NCCPF's Investment Strategy Statement)
The exercise of rights (including voting rights) attaching to investments
The Panel has delegated the exercise of voting rights to Legal and General with a requirement to:
· follow Legal and General’s own share voting policy for all public equities except the FTSE 350 companies; and
· follow PIRC’s share voting advice for the Fund’s effective shareholding in the FTSE 350 companies.
The Panel reviews PIRC’s and Legal and General’s share voting policies periodically. The Panel considers that the Fund’s and Legal and General’s interests are aligned, as both seek to enhance long term shareholder value.
The Fund encourages Legal and General to vote shares in all markets, where practical.