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In the course of the past few years, financial institutions have adopted several measures aimed at making information on investment funds more readily available to investors. In 2005, the coming into force of an important regulation stemming from the Canadian Securities Administrators led to many changes in this regard.
True to its reputation and philosophy, the Desjardins Group conformed with enthusiasm to the new requirements of this regulation. Even if we were not required to do so, Gestion placements Desjardins (GPD) also brought these modifications into force for the sake of integrity, openness and rigour.
It is in this perspective that in addition, we have implemented the whole of the provisions of the regulation respecting information on proxy voting, a process that allows GPD to vote on your behalf at the meetings of shareholders of companies whose securities we hold in our portfolios. Following are the main elements of our policy on this issue.
A detailed, comprehensible and accessible policy
Since keeping you well informed is one of our priorities, we have drawn up the Policy on the Exercise of Proxy Voting Rights for Private Funds and Portfolios Managed by GPD.
This policy lays down the conditions that GPD undertakes to uphold with regard to the exercise of voting rights related to the securities held in the Funds’ portfolios, with the overarching concern being the interest of the unitholders. It namely includes detailed information on GPD’s preferred position as regards the various proposals put to a vote at an assembly: election of the members of the Board of Directors, adoption of a stock option plan, approval of a merger, an acquisition or other.
DIM Private Funds and securities on which proxy votes can be exercised
Several DIM Private Funds and securities in portfolios under management by GPD directly hold shares or units on which proxy votes can be exercised.
Refer to the list of DIM Private Funds and securities in portfolios under management by GPD holding voting shares.
Easy online access to the results of proxy votes
As a unitholder of DIM Private Funds or of securities in your portfolios under management by GPD, you are entitled to know how we exercise our proxy voting rights.
The proxy voting season stretches over a period of 12 months, from July 1 to June 30. The results of the exercise of proxy voting rights are published on our website by August 31 of each year. The information provided for each of the proposals put to a vote includes: the name of the issuer, the date of the meeting, the questions put to a vote, and how we voted. You can also obtain a print copy of this file as soon as it is posted on the website.
The Policy on the Exercise of Proxy Voting Rights:
A Question of Integrity, Openness and Rigour
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