NEST Voting Report for the period 01 Jan 2023 to 01 Apr 2023

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Table of Contents

 

Vote summary by region

AGM Class Court EGM GM OGM SGM Total
Africa 3 0 0 0 0 0 0 4
Asia & Oceania : Developed 142 0 0 0 0 0 0 156
Asia & Oceania : Emerging 28 0 0 0 0 0 0 253
Europe : Developed 73 0 0 0 0 0 0 89
Europe : Emerging 8 0 0 0 0 0 0 10
Japan 64 0 0 0 0 0 0 65
Latin America & Caribbean 1 0 0 0 0 0 0 6
North America 40 0 0 0 0 0 0 45
South & Central America 16 0 0 0 0 0 0 24
UK & Ireland 18 0 0 0 0 0 0 22
 

Vote summary by issues: Commodities Fund

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 10 2 11 0 0 0
Other 0 0 0 0 0 0
Board 144 4 36 0 0 0
Capital 10 0 9 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 3 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 13 0 3 0 0 0
Remuneration 16 9 17 0 0 0
Charitable Activity 1 0 0 0 0 0
Sustainability 3 0 0 0 0 0
 

Vote summary by issues: UBS

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 3 0 5 0 0 0
Other 0 0 0 0 0 0
Board 43 0 25 0 0 0
Capital 2 0 0 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 1 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 4 0 0 0 0 0
Remuneration 7 9 6 0 0 0
Charitable Activity 0 0 0 0 0 0
Sustainability 2 0 0 0 0 0
 

Votes against management - by region

Region Resolutions
Asia & Oceania : Developed 5
Europe : Developed 42
Japan 7
North America 31
South & Central America 3
 

Votes withheld by manager

Company Event Date Res Num SH Res Resolution Commodities Fund UBS
Hormel Foods Corp AGM 31-Jan-23 1.02 - To re-elect as a director, Gary Bhojwani Against Against
Hormel Foods Corp AGM 31-Jan-23 1.09 - To re-elect as a director, Sally Smith Against Against
Hormel Foods Corp AGM 31-Jan-23 1.10 - To re-elect as a director, James Snee Against Against
Hormel Foods Corp AGM 31-Jan-23 2 - To ratify the appointment of Ernst & Young LLP as auditors Against Against
Hormel Foods Corp AGM 31-Jan-23 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against Against
Hormel Foods Corp AGM 31-Jan-23 5 Y To request that the Board Complies with World Health Organization Guidelines on Antimicrobial Use Throughout Supply Chains For For
Talos Energy Inc SGM 08-Feb-23 1 - To approve the issuance of shares in connection with the EnVen merger Against
Talos Energy Inc SGM 08-Feb-23 2d - To approve that the exclusive forum for claims under the securities act shall be the federal district courts of the US Against
Tyson Foods Inc AGM 09-Feb-23 1a - To re-elect as a director, John H Tyson Against Against
Tyson Foods Inc AGM 09-Feb-23 1i - To re-elect as a director, Kevin McNamara Against Against
Tyson Foods Inc AGM 09-Feb-23 2 - To ratify the appointment of PricewaterhouseCoopers LLP as auditors Against Against
Tyson Foods Inc AGM 09-Feb-23 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against Against
Tyson Foods Inc AGM 09-Feb-23 4.01 - To set the frequency at which the advisory vote on executive compensation shall be held to annually For For
Tyson Foods Inc AGM 09-Feb-23 4.03 - To set the frequency at which the advisory vote on executive compensation shall be held to triennially Abstain Abstain
Tyson Foods Inc AGM 09-Feb-23 5 - To approve the 2000 Stock Incentive Plan Abstain Abstain
Tyson Foods Inc AGM 09-Feb-23 6 Y To request that the Company comply with the WHO guidelines on use of medically important antimicrobials in food producing animals For For
Aurubis AG AGM 16-Feb-23 2 - To appropriate the profit and to approve the dividend for the year ended 30 September 2022 Against
Aurubis AG AGM 16-Feb-23 5 - To appoint the auditors Against
Aurubis AG AGM 16-Feb-23 6 - To approve the remuneration report Against
Aurubis AG AGM 16-Feb-23 7 - To approve the remuneration system for the members of the Management Board Against
Aurubis AG AGM 16-Feb-23 8.04 - To approve further amendments to the Articles of Association Against
Aurubis AG AGM 16-Feb-23 9.02 - To elect as a member of the Supervisory Board, Gunnar Groebler Against
Aurubis AG AGM 16-Feb-23 9.04 - To elect as a member of the Supervisory Board, Stephan Krummer Against
Aurubis AG AGM 16-Feb-23 9.06 - To elect as a member of the Supervisory Board, Fritz Vahrenholt Against
Graincorp Ltd AGM 16-Feb-23 2 - To adopt the remuneration report for the year ended 30 September 2022 Against
Graincorp Ltd AGM 16-Feb-23 3 - To re-elect as a director, Kathy Grigg Against
Graincorp Ltd AGM 16-Feb-23 4 - To approve a grant of Performance Rights to the MD and CEO Against
Deere & Co Inc AGM 22-Feb-23 1c - To re-elect as a director, Alan Heuberger Against Against
Deere & Co Inc AGM 22-Feb-23 1d - To re-elect as a director, Charles Holliday Against Against
Deere & Co Inc AGM 22-Feb-23 1f - To re-elect as a director, Clayton Jones Against Against
Deere & Co Inc AGM 22-Feb-23 1g - To re-elect as a director, John May Against Against
Deere & Co Inc AGM 22-Feb-23 1h - To re-elect as a director, Gregory Page Against Against
Deere & Co Inc AGM 22-Feb-23 1i - To re-elect as a director, Sherry Smith Against Against
Deere & Co Inc AGM 22-Feb-23 2 - To approve an advisory vote on the remuneration of the Company's named executive officers Against Against
Deere & Co Inc AGM 22-Feb-23 4 - To ratify the appointment of Deloitte & Touche LLP as auditors Against Against
Deere & Co Inc AGM 22-Feb-23 5 Y Shareholder proposal regarding termination pay For For
Helmerich & Payne Inc AGM 28-Feb-23 1d - To re-elect as a director, Randy Foutch Against
Helmerich & Payne Inc AGM 28-Feb-23 1e - To re-elect as a director, Hans Helmerich Against
Helmerich & Payne Inc AGM 28-Feb-23 1i - To re-elect as a director, Donald Robillard Against
Helmerich & Payne Inc AGM 28-Feb-23 1j - To re-elect as a director, John Zeglis Against
Helmerich & Payne Inc AGM 28-Feb-23 2 - To ratify the appointment of Ernst & Young LLP as auditors Against
Helmerich & Payne Inc AGM 28-Feb-23 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against
Orsted AS AGM 07-Mar-23 6.04.02 - To elect as a director Peter Korsholm Abstain
Orsted AS AGM 07-Mar-23 6.04.03 - To elect as a director Dieter Wemmer Abstain
Orsted AS AGM 07-Mar-23 8 - To re-appoint PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab as auditors Abstain
Sandfire Resources Ltd GM 21-Mar-23 3 - To approve a grant of FY2023 STI Shares to Brendan Harris Against
Sandfire Resources Ltd GM 21-Mar-23 5 - To approve a grant of Sign-on Rights to Brendan Harris Against
Kubota Corp AGM 24-Mar-23 1.02 - To elect as a director, Masato Yoshikawa Against
Kubota Corp AGM 24-Mar-23 1.07 - To elect as a director, Yuzuru Matsuda Against
Kubota Corp AGM 24-Mar-23 1.11 - To elect as a director, Koichi Kawana Against
Nordex SE EGM 27-Mar-23 1 - To approve the increase of the Company’s share capital against contributions in kind with shareholders’ statutory subscription rights excluded and related amendments to the Articles of Association Against
Nordex SE EGM 27-Mar-23 2 - To approve the creation of a new Authorised Capital I with the dis-application of pre-emption rights and the correspondent amendment to the Articles of Association Against
Nordex SE EGM 27-Mar-23 3 - To approve the creation of a new Authorised Capital ii with the dis-application of pre-emption rights and the correspondent amendment to the Articles of Association Against
Nordex SE EGM 27-Mar-23 4 - To approve the creation of a new Authorised Capital iii with the dis-application of pre-emption rights and the correspondent amendment to the Articles of Association and cancellation of previous Authorized Capital III Against
Nordex SE EGM 27-Mar-23 5 - To approve the authorization to issue convertible bonds and/or warrant linked bonds, the exclusion of subscription rights and the creation of new Contingent Capital I and related amendments to the Articles of Association and the cancellation of previous Contingent Capital I Against
Inpex Corp AGM 28-Mar-23 3.01 - To elect as a director, Toshiaki Kitamura Against
Holmen AB AGM 28-Mar-23 14.10 - To re-elect as Chairman, Fredrik Lundberg Against Against
Holmen AB AGM 28-Mar-23 15 - To appoint auditors Against Against
Holmen AB AGM 28-Mar-23 16 - To approve the board’s report on the remuneration paid, and due to be paid, to senior management Against Against
Holmen AB AGM 28-Mar-23 17 - To approve the guidelines for the determination of remuneration of senior executives Against Against
Holmen AB AGM 28-Mar-23 14.01 - To re-elect as a director, Fredrik Lundberg Against Against
Holmen AB AGM 28-Mar-23 14.03 - To re-elect as a director, Alice Kempe Against Against
Holmen AB AGM 28-Mar-23 14.04 - To re-elect as a director, Louise Lindh Against Against
Holmen AB AGM 28-Mar-23 14.05 - To re-elect as a director, Ulf Lundahl Against Against
Holmen AB AGM 28-Mar-23 14.06 - To re-elect as a director, Fredrik Persson Against Against
Ezaki Glico Co Ltd AGM 29-Mar-23 1.01 - To elect as a director, Katsuhisa Ezaki Against
FLSmidth & Co AS AGM 29-Mar-23 2 - To adopt the report & accounts for the year ended 31 December 2022 Against
FLSmidth & Co AS AGM 29-Mar-23 5 - To approve the remuneration report Against
FLSmidth & Co AS AGM 29-Mar-23 6a - To re-elect as a director Tom Knutzen Abstain
FLSmidth & Co AS AGM 29-Mar-23 6c - To re-elect as a director Anne Eberhard Abstain
FLSmidth & Co AS AGM 29-Mar-23 7 - To re-appoint EY as auditors and to authorise the directors to determine their remuneration Abstain
FLSmidth & Co AS AGM 29-Mar-23 8.01 - To amend the Articles of Association Against
Sumitomo Forestry Co Ltd AGM 30-Mar-23 3.01 - To re-elect as a director, Akira Ichikawa Against Against
Sumitomo Forestry Co Ltd AGM 30-Mar-23 3.02 - To re-elect as a director, Toshiro Mitsuyoshi Against Against
Outokumpu Oyj AGM 30-Mar-23 8 - To appropriate the profit and to approve the dividend for the year ended 31 December 2021 Against
Outokumpu Oyj AGM 30-Mar-23 10 - To adopt the remuneration report for the year ended 31 December 2021 Against
Outokumpu Oyj AGM 30-Mar-23 13.05 - To re-elect as a director, Petter Söderström Against
Outokumpu Oyj AGM 30-Mar-23 14 - To approve the proposal of the Audit Committee that the audit fee be paid according to the auditor's invoice Against
Outokumpu Oyj AGM 30-Mar-23 15 - To re-appoint as auditors, PricewaterhouseCoopers Oy Against
Svenska Cellulosa AB SCA AGM 30-Mar-23 12.02 - To re-elect as a director, Par Boman Against
Svenska Cellulosa AB SCA AGM 30-Mar-23 12.09 - To re-elect as a director, Barbara Thoralfsson Against
Svenska Cellulosa AB SCA AGM 30-Mar-23 13 - To re-elect as Chairman, Pär Boman Against
Svenska Cellulosa AB SCA AGM 30-Mar-23 14 - To re-appoint as auditors, Ernst & Young AB Against
Svenska Cellulosa AB SCA AGM 30-Mar-23 15 - To approve the remuneration report Against
Buenaventura Mining Co Inc AGM 31-Mar-23 3 - To approve remuneration to the Board for 2022 Against
Buenaventura Mining Co Inc AGM 31-Mar-23 4 - To appoint the auditors Against
Buenaventura Mining Co Inc AGM 31-Mar-23 5 - To approve the distribution of dividends Against
 

Glossary

Definitions for all tables

Fund Names
BMO BMO Responsible Global Equity Fund.
HSBC HSBC Economic Scale Index Emerging Markets Equity Fund and HSBC Amanah Global Equity Index Fund.
LGIM FTSE LGIM FTSE EPRA/NAREIT Global Developed Index Fund
LGIM Global LGIM Global Real Estate Equity Index Fund.
NTIF Northern Trust Emerging Markets ESG Equity Index Fund.
UBS UBS Life World Equity Tracker Fund and UBS Life Climate Aware World Equity Fund.
Meeting Types
AGM Annual General Meeting: meeting normally required by law taking place on an annual basis.
Class Class Meeting: shareholders holding a class of share are required to make a decision binding on the company.
Court Court meeting: shareholders can either order an annual meeting or a special meeting.
EGM Extraordinary General Meeting: meeting is required to conduct business of an urgent or extra-ordinary nature. Such business may require a special quorum or approval level.
GM General Meeting: term often used interchangeably with the term EGM,OGM, SGM, depending on the term used by the company in question.
OGM Ordinary General Meeting: term often used interchangeably with the term EGM,GM, SGM, depending on the term used by the company in question.
SGM Special General Meeting: term often used interchangeably with the term EGM,GM, OGM, depending on the term used.
Other Items
SH Shareholder resolution, resolution proposed by shareholders for ratifying or requesting a specified action by a corporate board
Vote withheld Shareholder votes not supporting management recommendations.
Vote Types
Abstain Shareholder's vote not in favour or against the proposed resolution, but shareholder demonstrates lack of confidence towards the rationale behind the resolution.
Against Shareholder's vote against the resolution proposed.
For Shareholder's vote in favour of the resolution proposed.
Withhold For US- board resolutions, shareholder vote not in favour the board election.