Corporate governance
The board of Martin Currie Pacific Trust has considered the principles and recommendations of the Association of Investment Companies Code of Corporate Governance (AIC code) by reference to the AIC Corporate Governance Guide for investment companies (AIC guide). The AIC code, as explained by the AIC guide, addresses all the principles set out in the UK Corporate Governance Code, as well as setting out additional principles and recommendations on issues that are of specific relevance to Martin Currie Pacific Trust.
The AIC Code is made up of 21 principles, which we report on each year in the Company’s annual report, the latest edition of which you can link to under latest documents.
The company gives discretionary voting powers to Martin Currie. With respect to voting on behalf of clients, Martin Currie’s policy is to:
- Vote at all general meetings of companies in which its clients are invested
- Vote in favour of proposals which Martin Currie expects to enhance shareholder value; on routine issues Martin Currie is generally supportive of management
- Vote against proposals which it believes may damage shareholders’ rights or economic interests
- Abstain on proposals which it feels unable to support, but where Martin Currie believes that it could be against its clients’ interests to oppose publicly
- Ensure in all situations that the economic interests of its clients are paramount
- Vote consistently on behalf of all clients who are invested in the particular company.
The directors are aware that Martin Currie gives consideration to operational performance, corporate social responsibility and corporate governance issues, among many other factors, when investment decisions are taken.
The board has noted Martin Currie’s adoption of the UK Stewardship Code, and a copy of the policies and voting records can be found on the Martin Currie website.