Votes and elections are consistently exercised in the interests of the insureds on all shares held directly by the Pension Fund Swiss Re in Swiss companies listed in Switzerland or abroad.
Indirectly held shares in Swiss companies are voted in cases where the Pension Fund Swiss Re is granted a vote.
This applies to the following types of proposals in particular:
- Elections (of members of the board of directors, the president, members of the remuneration committee or the independent proxy)
- Compensation to be paid to the board of directors, management board and advisory board (Art. 18 and Art. 21 of the Ordinance Against Excessive Compensation, VegüV)
- Any provisions of the company bylaws or amendment thereof, in accordance with Art. 12 of the Ordinance (VegüV)
In considering these and any other proposals placed on an AGM's agenda, the key concerns are the sustainable performance of the Pension Fund Swiss Re (Art. 71, Para. 1 of the Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans, or Occupational Pensions Act, FSOPP) and safeguarding the interests of the insureds.
These interests are deemed to be protected if all rules of sound corporate governance in a broader sense are observed and if votes and elections are based on economic, social, ecological and long-term criteria.
To exercise votes based on the aforementioned rules and criteria, external consultants on share voting rights are used. Their voting recommendations are generally followed but may be amended by the Pension Fund Board if and as appropriate.
As of 2018 all votes are based on recommendations of the firm ISS (Institutional Shareholder Services). ISS develops its recommendations based on socially responsible investment (SRI) criteria.
At the end of January 2019, directly held Swiss equities were invested in the passive UBS Index Fund Equities Switzerland. UBS votes on these shares in accordance with its voting guidelines. Below you will find a list of the voting behavior on these shares.
Vote Summary Report UBS
Vote Summary Report ISS
Board Statistic Report ISS
ISS SRI Voting Guidelines
ISS SRI International Policy Updates
Please find below the voting behavior for emerging markets equities for our investment with UBS.