Liontrust Sustainable Investment Engagement and Voting Annual Review 2021 - Flipbook - Page 10
Voting in 2019
We communicate our voting intentions to companies and engage
with them on issues of contention to effect change so that we can
vote in favour in subsequent years.
As stated earlier, we are very active owners, typically voting against
management at around 60% of voteable meetings on at least one
vote in 2019. Our Sustainable Investment voting policies are publicly
available on our website (at www.liontrust.co.uk/sustainable) and
divided by geographic area. We also publicly disclose all our
decisions and the rationale for each vote.
Re-election of chair
Remuneration
27
29%
The re-election of the Chair of the
Nomination Committee (which
related to gender diversity, as
per the section above)
Re-election of directors
Ratification of auditors
42
17
31
30%
of eligible
meetings
65
In 2019, we voted at 98% (137 of 140) of votable meetings and
voted against management or abstained on proposals in at least one
vote in 62% (87 of 144) of votable meetings. We voted to abstain or
voted against:
40%
of eligible
meetings
16%
of eligible
meetings
71
of eligible
meetings
89
64
The re-election of one or more
company directors (due to lengthy
terms of office, bundled director
elections or lack of independence)
The approval of the
company’s remuneration
report/compensation
The ratification of auditors/
authorisation for the Board to fix
remuneration of external auditors
Independent assessment of our engagement
The information below summarises the 2019 Assessment Report from
the PRI (covering our work in 2018).
We are reviewed each year by the Principles for Responsible
Investment (PRI) and have also been assessed by the UK’s Financial
Reporting Council (FRC) on the quality of our commitment to the UK
Stewardship Code.
2018
Comments
Strategy & Governance
A+
29 out of a possible 30 scored
Listed Equity: Incorporation
A
13 out of possible 15 scored
Listed Equity: Screening
A
13 out of possible 15 scored
Listed Equity: Integration
A
17 out of possible 21 scored
Listed Equity: Active Ownership
A
Individual Engagement: 22 out of possible 30 scored
Listed Equity: Engagement
(based on B for Individual Engagement, B for Collaborative
Engagement and A for Proxy Voting Engagement)
B
Collaborative Engagements: 20 out of possible 30 scored
Fixed Income: SSA
A
31 out of possible 39 scored
Fixed Income: Corporate (Financial)
A
34 out of possible 42 scored
Fixed Income: Corporate (Non-financial)
A
34 out of possible 42 scored
Fixed Income: Securitised
A
34 out of possible 42 scored
Liontrust Investment Limited (LIL) is a signatory to the UK
Stewardship Code. The FRC gave Liontrust Investment Limited
‘Tier 1’ status (the highest ranking) based on the quality of our
Code statements and recognising we provide a good-quality and
transparent description of our approach to stewardship. LIL was
deregistered in November 2018 as the Sustainable Investment
Proxy Voting Engagements: 19 out of possible 21 scored
team was integrated into Liontrust Asset Management Plc.
Liontrust Asset Management will report against the revised FRC
Stewardship Code on outcomes and activities for the year 2020
in March 2021.
For details of our stewardship policy, go to liontrust.co.uk/sustainable
10 - Liontrust Sustainable Investment: Engagement and Voting: Annual Review 2019
