Proxy Voting Policy

Standard options

As set out in the Corporate Governance Policy, the Board is committed to maintain the highest standard of corporate governance excellence and look to a socially responsible philosophy in the companies in which it invests.

The Australian Council of Superannuation Investors (ACSI) provides advice to Media Super on proxy voting for stocks in the ASX200.  Typically, votes default to ACSI recommendations where available, except as set out below.  

Media Super specifically reviews ACSI recommendations (where available) in respect of the following stocks held within the media and materials sector (actual holdings are dependent on the mandates and investment decisions of Media Super’s Australian shares managers): 

Code Stock
AMC Amcor Limited
APN APN News and Media Limited
FXJ  Fairfax Media Ltd
NEC Nine Entertainment Company
NWS News Corporation Class B
ORA Orora Ltd
SWM Seven West Media Limited
SXL Southern Cross Media Group Limited
TEN Ten Network Holdings Limited
PRT Prime Media Group
VRL Village Roadshow Ltd

For these specific stocks, the Investment Team reviews the resolutions prepared by the company as well as ACSI’s associated recommendations.  Further insight can also be gained from Media Super’s directors as well as investment managers that invest in the respective securities on behalf of Media Super.    

This process may also be applied in respect of other stocks listed on the ASX, if a director or the Investment Team proposes a review of the intended voting on resolutions relating to a specific stock held by the Fund.  

The Chief Investment Officer will make any final determination on voting Media Super’s stocks.   

Once voting decisions have been made, as described above, the Investment Team instructs the relevant investment managers to vote Media Super’s shares accordingly.  These decisions are ratified via inclusion in papers for the subsequent Investment Committee meeting.  

In the absence of specific voting instructions as described above, Media Super permits its investment managers to vote in accordance with their own policies. 

Proxy voting summaries for Media Super’s investment managers in the period from 1 July 2016 to 30 June 2017 are available at the links below.

Contango Asset Management

IFM Investors

Perpetual (Concentrated)

Perpetual (Small Companies)

Wavestone

As Media Super does not have mandates with the underlying managers for the range of investment options launched after 30 September 2014, Media Super is not able to direct votes on Australian shares or other investments for these options.

Direct Investment option

Members may provide directions on voting any of their share-holdings, where the trustee has determined that it is appropriate to provide this option at the member level.