Proxy Governance and Administration Team
Invesco's Regional Guidelines
Proxy voting is an integral part of Invesco's Investment process. We believe that the right to vote proxies should be managed with the same care as all other elements of the investment process.
From our investor led, investor driven proxy voting and corporate governance approach to our fundamental research process and engagement, Responsible Investment is core to our practice and ensures that we are delivering robust results and outcomes for our clients.
Invesco’s Global Policy sets forth the framework of Invesco’s corporate governance approach, broad philosophy and guiding principles that inform the proxy voting practices of Invesco’s investment teams around the world. Given the different nature of these teams and their respective investment processes, as well as the significant differences in regulatory regimes and market practices across jurisdictions, not all aspects of this Policy may apply to all Invesco investment teams at all times. In the case of a conflict between this Policy and the operating guidelines and procedures of a regional investment center the latter will control.
Well-governed companies are characterized by a primary focus on the interests of shareholders, accountable boards of directors, ample transparency in financial disclosure, performance-driven cultures and appropriate consideration of all stakeholders. Invesco conducts deep research, including consideration of the environmental and social impacts, which guides our voting on the company’s resolutions and leads to robust voting outcomes for our clients.
Invesco votes for proposals that maximize long-term shareholder value. Invesco believes in corporate accountability and supports governance structures reinforcing management's accountability to its board of directors as well as board of directors' accountability to its shareholders. In addition to the performance-driven considerations noted above, Invesco also believes that environmental, social and corporate governance proposals can influence long-term shareholder value and should be voted in a manner that maximizes such long-term shareholder value.
Our four-step approach to engagement:
In order to enhance Invesco’s engagement with corporate issuers, please direct all requests to our global centralized mailbox at firstname.lastname@example.org.
Once the request is received, we look at all of our holdings by issuer, pull historical voting data and relevant research and identify all internal investors that hold the respective issuer across Invesco.
In advance of any call, we ask that all of our issuers provide a “key topics” list of discussion points as well as any material changes to key items such as compensation, management or strategy.
These requests are funneled to our internal governance team which reviews the nature of the request. At Invesco, we believe that the most productive dialogue with our portfolio companies occurs outside peak voting season. Therefore, we suggest reaching out to Invesco in the early fall of each year. The governance team consults with the appropriate investors and decides whether to (a) gather feedback on a topic and provide that feedback to an issuer, (b) schedule a call if it is deemed to be necessary, or (c) engage directly and serve as a liaison. Our proxy governance team will set up the calls with our investors and issuers when and if a call is deemed necessary.