Proxy Voting Choice Empowers Investors
The State Street Investment Management proxy voting choice program empowers clients, including those with eligible segregated accounts and those invested in eligible ETFs and mutual funds, to direct the proxy voting of shares attributable to their investments in such accounts and funds
State Street Investment Management is now offering its proxy voting choice program to additional Irish SPDR Funds. Learn more.
Why Voting Choice The Power to Choose
We believe all investors deserve the opportunity to build investment portfolios matched to their goals and preferences.
That’s why we’ve given clients the power to choose — to select the voting option that directs the proxy votes of shares held in the eligible funds and segregated accounts in which they are invested.
Investors want to express their voting preferences with respect to their investments. Clients in segregated mandates already had the ability to do so. Now, technology makes it possible for investors in pooled/commingled funds to direct how shares are voted and clients in eligible segregated mandates to select from a range of proxy voting options offered through the State Street Investment Management proxy voting choice program. We’re excited about what that means for the future.
"As the pioneering force behind many of the world’s first ETFs, we are proud to present yet another innovation that amplifies our ongoing mission to democratize investing. By empowering individuals with greater choice to direct how their shares are voted, we are placing a powerful tool directly in their hands."
About the program Proxy Voting Choice program at a glance
Our proxy voting choice program covers over 80% of the eligible index equity assets1 we manage, including all US institutional index equity funds and a broad range of US index equity SPDR® ETFs and mutual funds. We have also expanded the proxy voting choice program so that it is available in respect of index equity funds within a subset of our Luxembourg SICAV and Irish ETF UCITS fund ranges.
AUM in eligible index equity assets available in the program 1
Of eligible index equity assets available in the program 1
Largest asset manager in the world 2
Third-Party Voting Options Available³
Eligible clients can exercise choice in one of two ways:
This option gives clients the ability to direct the votes of shares held by their eligible segregated accounts and the eligible funds in which they are invested, by selecting a third party Proxy Voting policy offered as part of the program.
Clients who do not opt in will continue to have State Street Investment Management’s Asset Stewardship team vote the shares held by the funds or segregated accounts in which they are invested in accordance with State Street Investment Management’s Global Proxy Voting and Engagement Policy.4 Clients in segregated accounts that have not delegated proxy voting authority to State Street Investment Management will continue to vote their proxies directly.
ISS Socially Responsible Investment Policy
Consistent with the dual objectives of socially responsible shareholders – financial and social, the policy reflects a broad consensus of the SRI community and incorporates the assumption that ESG factors could present material risks to portfolio investments.
ISS Catholic Faith-Based Policy
Based on guidelines for Catholic and other Christian religious institutions that are consistent with the objectives of socially responsible shareholders as well as the teachings of Catholicism and Christianity as a whole.
Glass Lewis Corporate Governance Focused Policy (For US funds only)
Designed to ensure compliance with the fiduciary responsibility to drive long-term, economic shareholder value with additional emphasis on widely accepted components of corporate governance.
ISS Sustainability Policy
Seeks to promote support for recognized global governing bodies promoting sustainable business practices advocating for stewardship of environment, fair labor practices, non-discrimination, and the protection of human rights.
ISS Global Board Aligned Policy (For US funds only)
Focuses on promoting traditional corporate governance standards and best practices. Generally aligned with management on environmental and social matters.
Bowyer Research Policy (for US governmental entities only)
Bowyer Research guidelines represent a back-to-neutral framework that prioritizes an approach to business’s fiduciary responsibility.
Egan-Jones Wealth-Focused policy (For US funds only)
Recommendations of the Wealth-Focused Policy are based only on protecting and enhancing investor wealth.
ISS Taft-Hartley Policy
Based on the AFL-CIO Proxy Voting Guidelines, which comply with all the fiduciary standards delineated by the US Department of Labor.
ISS Benchmark Policy
Guidelines based on ISS’ Global Voting Principles, which provide for four key tenets on accountability, stewardship, independence, and transparency. This policy is organized by continent and, where applicable, by individual country.
Mirror Voting Option (for US securities held by certain eligible ETFs and mutual funds only)
Mirror voting is a proxy voting option under which votes are cast in proportion to the aggregate voting instructions received through the Broadridge proxy network.
Mirror voting is currently available for U.S. equity securities held by eligible ETFs and mutual funds that participate in the program. In certain circumstances, including contested matters or where sufficient voting data is not available, shares subject to the mirror voting option will not be voted.
Vote with Company Board Recommendation Policy (For US funds only)
This option votes in accordance with the portfolio company’s board of directors recommendation in all cases where a portfolio company’s board of directors recommendation exists. In the absence of a recommendation from the portfolio company’s board of directors on a specific proposal, an ABSTAIN vote will be cast. This policy has been developed by ISS for use solely in State Street Investment Management’s proxy voting choice program.
ISS Public Fund Policy
Designed to help ensure that public funds fulfil all statutory and common law obligations governing proxy voting, with the intent of maximizing the long term economic benefits of its plan participants, beneficiaries, and citizens of the state in which the fund resides.
Asset Stewardship A Commitment to Maximizing Long-Term Value
By not opting into the State Street Investment Management proxy voting choice program, investors in eligible funds and eligible segregated accounts that have delegated proxy voting to State Street Investment Management will continue to have State Street Investment Management’s Asset Stewardship team vote the shares held by the funds in which they are invested or held by their eligible segregated accounts in accordance with State Street Investment Management’s Global Proxy Voting and Engagement Policy.4
Questions? For more information? Professional investors can contact their State Street representative. Individual investors can contact their investment advisor, broker, or custodian.
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The State Street Investment Management Proxy Voting Choice program empowers clients to direct how shares held in the eligible funds and segregated accounts they own are voted.
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