National Employment Savings Trust Corporation - NEST Pensions

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National Employment Savings Trust Corporation Quarterly accounting report to 31 March 2016

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

27 Jan 16

Aberdeen Asset Management plc

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

27 Jan 16

Aberdeen Asset Management plc

AGM

2

For

Agenda item : Approve Final Dividend.

27 Jan 16

Aberdeen Asset Management plc

AGM

3

For

Agenda item : Appoint PricewaterhouseCoopers LLP as Auditors.

27 Jan 16

Aberdeen Asset Management plc

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Auditors.

27 Jan 16

Aberdeen Asset Management plc

AGM

5

For

Agenda item : Re-elect Julie Chakraverty as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

6

For

Agenda item : Re-elect Roger Cornick as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

7

For

Agenda item : Re-elect Martin Gilbert as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

8

For

Agenda item : Re-elect Andrew Laing as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

9

For

Agenda item : Re-elect Rod MacRae as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

10

For

Agenda item : Re-elect Richard Mully as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

11

For

Agenda item : Re-elect Jim Pettigrew as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

12

For

Agenda item : Re-elect Bill Rattray as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

13

For

Agenda item : Re-elect Anne Richards as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

14

For

Agenda item : Re-elect Jutta af Rosenborg as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

15

For

Agenda item : Re-elect Akira Suzuki as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

16

For

Agenda item : Re-elect Simon Troughton as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

17

For

Agenda item : Re-elect Hugh Young as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

18

For

Agenda item : Elect Val Rahmani as Director.

27 Jan 16

Aberdeen Asset Management plc

AGM

19

Opposed

Agenda item : Approve Remuneration Report.

27 Jan 16

Aberdeen Asset Management plc

AGM

20

For

Agenda item : Authorise Issue of Equity with Pre-emptive Rights.

27 Jan 16

Aberdeen Asset Management plc

AGM

21

For

Agenda item : Authorise Issue of Equity without Pre-emptive Rights.

27 Jan 16

Aberdeen Asset Management plc

AGM

22

For

Agenda item : Authorise the Company to Call EGM with Two Weeks' Notice.

27 Jan 16

Aberdeen Asset Management plc

AGM

23

For

Agenda item : Authorise Market Purchase of Ordinary Shares.

27 Jan 16

Aberdeen Asset Management plc

AGM

24

For

Agenda item : Authorise EU Political Donations and Expenditure.

27 Jan 16

Royal Dutch Shell plc

EGM

1

For

Agenda item : Approve the Cash and Share Offer for BG Group plc.

UBS note : Transparency in compensation is desired.

28 Jan 16

BG Group plc

Court

1

For

Agenda item : Approve Scheme of Arrangement.

28 Jan 16

BG Group plc

EGM

1

For

Agenda item : Approve Matters Relating to the Cash and Share Offer for BG

03 Feb 16

Imperial Tobacco Group plc

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

03 Feb 16

Imperial Tobacco Group plc

AGM

2

For

Agenda item : Approve Remuneration Report.

Group plc by Royal Dutch Shell plc.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

03 Feb 16

Imperial Tobacco Group plc

AGM

3

For

Agenda item : Approve Final Dividend.

03 Feb 16

Imperial Tobacco Group plc

AGM

4

For

Agenda item : Re-elect Alison Cooper as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

5

For

Agenda item : Re-elect David Haines as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

6

For

Agenda item : Re-elect Michael Herlihy as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

7

For

Agenda item : Re-elect Matthew Phillips as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

8

For

Agenda item : Re-elect Oliver Tant as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

9

For

Agenda item : Re-elect Mark Williamson as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

10

For

Agenda item : Re-elect Karen Witts as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

11

For

Agenda item : Re-elect Malcolm Wyman as Director.

03 Feb 16

Imperial Tobacco Group plc

AGM

12

For

Agenda item : Reappoint PricewaterhouseCoopers LLP as Auditors.

03 Feb 16

Imperial Tobacco Group plc

AGM

13

For

Agenda item : Authorise the Audit Committee to Fix Remuneration of

03 Feb 16

Imperial Tobacco Group plc

AGM

14

For

Agenda item : Authorise EU Political Donations and Expenditure.

03 Feb 16

Imperial Tobacco Group plc

AGM

15

For

Agenda item : Authorise Issue of Equity with Pre-emptive Rights.

03 Feb 16

Imperial Tobacco Group plc

AGM

16

For

Agenda item : Authorise Issue of Equity without Pre-emptive Rights. Agenda item : Authorise Market Purchase of Ordinary Shares.

Auditors.

03 Feb 16

Imperial Tobacco Group plc

AGM

17

For

03 Feb 16

Imperial Tobacco Group plc

AGM

18

For

Agenda item : Approve Change of Company Name to Imperial Brands plc.

03 Feb 16

Imperial Tobacco Group plc

AGM

19

For

Agenda item : Authorise the Company to Call General Meeting with Two Weeks' Notice.

04 Feb 16

Compass Group plc

AGM

1

For

04 Feb 16

Compass Group plc

AGM

2

For

Agenda item : Accept Financial Statements and Statutory Reports. Agenda item : Approve Remuneration Report. UBS note : Discretionary awards issued by remuneration committee not considered appropriate.

04 Feb 16

Compass Group plc

AGM

3

For

Agenda item : Approve Final Dividend.

04 Feb 16

Compass Group plc

AGM

4

For

Agenda item : Elect Nelson Silva as Director.

04 Feb 16

Compass Group plc

AGM

5

For

Agenda item : Elect Johnny Thomson as Director.

04 Feb 16

Compass Group plc

AGM

6

For

Agenda item : Elect Ireena Vittal as Director.

04 Feb 16

Compass Group plc

AGM

7

For

Agenda item : Re-elect Dominic Blakemore as Director.

04 Feb 16

Compass Group plc

AGM

8

For

Agenda item : Re-elect Richard Cousins as Director.

04 Feb 16

Compass Group plc

AGM

9

For

Agenda item : Re-elect Gary Green as Director.

04 Feb 16

Compass Group plc

AGM

10

For

Agenda item : Re-elect Carol Arrowsmith as Director.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

04 Feb 16

Compass Group plc

AGM

11

For

Agenda item : Re-elect John Bason as Director.

04 Feb 16

Compass Group plc

AGM

12

For

Agenda item : Re-elect Susan Murray as Director.

04 Feb 16

Compass Group plc

AGM

13

For

Agenda item : Re-elect Don Robert as Director.

04 Feb 16

Compass Group plc

AGM

14

For

Agenda item : Re-elect Paul Walsh as Director.

04 Feb 16

Compass Group plc

AGM

15

For

Agenda item : Reappoint KPMG LLP as Auditors.

04 Feb 16

Compass Group plc

AGM

16

For

Agenda item : Authorise the Audit Committee to Fix Remuneration of Auditors.

04 Feb 16

Compass Group plc

AGM

17

For

Agenda item : Authorise EU Political Donations and Expenditure.

04 Feb 16

Compass Group plc

AGM

18

For

Agenda item : Authorise Issue of Equity with Pre-emptive Rights.

04 Feb 16

Compass Group plc

AGM

19

For

Agenda item : Authorise Issue of Equity without Pre-emptive Rights.

04 Feb 16

Compass Group plc

AGM

20

For

Agenda item : Authorise Market Purchase of Ordinary Shares.

04 Feb 16

Compass Group plc

AGM

21

For

Agenda item : Authorise the Company to Call General Meeting with 14

09 Feb 16

TUI AG

AGM

2

For

Working Days' Notice. Agenda item : Approve Allocation of Income and Dividends of EUR 0.56 per Share. 09 Feb 16

TUI AG

AGM

3.1

For

09 Feb 16

TUI AG

AGM

3.2

For

Agenda item : Approve Discharge of Management Board Member Friedrich Joussen for Fiscal 2014/2015. Agenda item : Approve Discharge of Management Board Member Peter Long for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

3.3

For

09 Feb 16

TUI AG

AGM

3.4

For

Agenda item : Approve Discharge of Management Board Member Horst Baier for Fiscal 2014/2015. Agenda item : Approve Discharge of Management Board Member David Burling for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

3.5

For

09 Feb 16

TUI AG

AGM

3.6

For

Agenda item : Approve Discharge of Management Board Member Sebastian Ebel for Fiscal 2014/2015. Agenda item : Approve Discharge of Management Board Member Johan Lundgren for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

3.7

For

09 Feb 16

TUI AG

AGM

4.1

For

Agenda item : Approve Discharge of Management Board Member William Waggott for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Klaus Mangold for Fiscal 2014/2015.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

09 Feb 16

TUI AG

AGM

4.10

For

Agenda item : Approve Discharge of Supervisory Board Member Dierk Hirschel

09 Feb 16

TUI AG

AGM

4.11

For

09 Feb 16

TUI AG

AGM

4.12

For

09 Feb 16

TUI AG

AGM

4.13

For

09 Feb 16

TUI AG

AGM

4.14

For

09 Feb 16

TUI AG

AGM

4.15

For

09 Feb 16

TUI AG

AGM

4.16

For

09 Feb 16

TUI AG

AGM

4.17

For

09 Feb 16

TUI AG

AGM

4.18

For

09 Feb 16

TUI AG

AGM

4.19

For

09 Feb 16

TUI AG

AGM

4.2

For

09 Feb 16

TUI AG

AGM

4.20

For

09 Feb 16

TUI AG

AGM

4.21

For

09 Feb 16

TUI AG

AGM

4.22

For

09 Feb 16

TUI AG

AGM

4.23

For

09 Feb 16

TUI AG

AGM

4.3

For

for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Vladimir Lukin for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Timothy Powell for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Coline McConville for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Janis Kong for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Michael Poenipp for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Wilfired Rau for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Carmen Riu Gueell for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Carola Schwirn for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Maxim Shemetov for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Frank Jakobi for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Anette Strempel for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Christian Strenger for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Ortwin Strubelt for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Marcell Witt for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Michael

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

09 Feb 16

TUI AG

AGM

4.4

Comments Hodgkinson for Fiscal 2014/2015.

For

Agenda item : Approve Discharge of Supervisory Board Member Andreas Barczewski for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

4.5

For

09 Feb 16

TUI AG

AGM

4.6

For

Agenda item : Approve Discharge of Supervisory Board Member Peter Bremme for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Arnd Dunse for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

4.7

For

09 Feb 16

TUI AG

AGM

4.8

For

Agenda item : Approve Discharge of Supervisory Board Member Edgar Ernst for Fiscal 2014/2015. Agenda item : Approve Discharge of Supervisory Board Member Angelika Gifford for Fiscal 2014/2015.

09 Feb 16

TUI AG

AGM

4.9

For

09 Feb 16

TUI AG

AGM

5

For

Agenda item : Approve Discharge of Supervisory Board Member Valerie Gooding for Fiscal 2014/2015. Agenda item : Ratify PricewaterhouseCoopers AG as Auditors for Fiscal 2015/2016.

09 Feb 16

TUI AG

AGM

6

For

09 Feb 16

TUI AG

AGM

7

Opposed

Agenda item : Approve Creation of EUR 150 Million Pool of Capital without Pre-emptive Rights. Agenda item : Approve Creation of EUR 570 Million Pool of Capital without Pre-emptive Rights. UBS note : In aggregate, the requests for authority to issue share instruments exceed what we consider to be in shareholders' interests.

09 Feb 16

TUI AG

AGM

8

For

Agenda item : Approve Issuance of Warrants/Bonds with Warrants Attached/Convertible Bonds without Pre-emptive Rights up to Aggregate Nominal Amount of EUR 2 Billion; Approve Creation of EUR 150 Million Pool of Capital to Guarantee Conversion Rights.

09 Feb 16

TUI AG

AGM

9

For

Agenda item : Authorise Share Repurchase Program and Reissuance or Cancellation of Repurchased Shares.

09 Feb 16

TUI AG

AGM

10.1

For

Agenda item : Elect Edgar Ernst to the Supervisory Board.

09 Feb 16

TUI AG

AGM

10.2

For

Agenda item : Elect Angelika Gifford to the Supervisory Board.

09 Feb 16

TUI AG

AGM

10.3

For

Agenda item : Elect Michael Hodgkinson to the Supervisory Board.

09 Feb 16

TUI AG

AGM

10.4

For

Agenda item : Elect Peter Long to the Supervisory Board.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

09 Feb 16

TUI AG

AGM

10.5

For

Agenda item : Elect Klaus Mangold to the Supervisory Board.

09 Feb 16

TUI AG

AGM

10.6

For

Agenda item : Elect Alexey Mordashov to the Supervisory Board.

09 Feb 16

TUI AG

AGM

10.7

For

Agenda item : Elect Carmen Riu Gueell to the Supervisory Board.

09 Feb 16

TUI AG

AGM

11

For

Agenda item : Amend Articles Re: Board-Related.

09 Feb 16

TUI AG

AGM

12

For

Agenda item : Approve Remuneration of Supervisory Board.

10 Feb 16

Next plc

EGM

1

For

Agenda item : Approve Matters Relating to the Relevant Distributions.

11 Feb 16

easyJet plc

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

11 Feb 16

easyJet plc

AGM

2

For

Agenda item : Approve Remuneration Report.

11 Feb 16

easyJet plc

AGM

3

For

Agenda item : Approve Ordinary Dividend.

11 Feb 16

easyJet plc

AGM

4

For

Agenda item : Elect Andrew Findlay as Director.

11 Feb 16

easyJet plc

AGM

5

For

Agenda item : Elect Chris Browne as Director.

11 Feb 16

easyJet plc

AGM

6

For

Agenda item : Re-elect John Barton as Director.

11 Feb 16

easyJet plc

AGM

7

For

Agenda item : Re-elect Charles Gurassa as Director.

11 Feb 16

easyJet plc

AGM

8

For

Agenda item : Re-elect Dame Carolyn McCall as Director.

11 Feb 16

easyJet plc

AGM

9

For

Agenda item : Re-elect Adele Anderson as Director.

11 Feb 16

easyJet plc

AGM

10

For

Agenda item : Re-elect Dr Andreas Bierwirth as Director.

11 Feb 16

easyJet plc

AGM

11

For

Agenda item : Re-elect Keith Hamill as Director.

11 Feb 16

easyJet plc

AGM

12

For

Agenda item : Re-elect Andy Martin as Director.

11 Feb 16

easyJet plc

AGM

13

For

Agenda item : Re-elect Francois Rubichon as Director.

11 Feb 16

easyJet plc

AGM

14

For

Agenda item : Reappoint PricewaterhouseCoopers LLP as Auditors.

11 Feb 16

easyJet plc

AGM

15

For

Agenda item : Authorise the Audit Committee to Fix Remuneration of

11 Feb 16

easyJet plc

AGM

16

For

Agenda item : Approve EU Political Donations and Expenditure.

11 Feb 16

easyJet plc

AGM

17

For

Agenda item : Authorise Issue of Equity with Pre-emptive Rights.

11 Feb 16

easyJet plc

AGM

18

For

Agenda item : Authorise Issue of Equity without Pre-emptive Rights.

11 Feb 16

easyJet plc

AGM

19

For

Agenda item : Authorise Market Purchase of Ordinary Shares.

11 Feb 16

easyJet plc

AGM

20

For

Agenda item : Authorise the Company to Call General Meeting with Two

16 Feb 16

The Berkeley Group Holdings plc

EGM

1

Opposed

Auditors.

Weeks' Notice. Agenda item : Amend 2011 Long Term Incentive Plan. UBS note : Dilution of executive remuneration scheme exceeds best practice guidelines.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

19 Feb 16

Hikma Pharmaceuticals plc

EGM

1

For

Agenda item : Approve Acquisition of Boehringer Ingelheim Roxane Inc. and

19 Feb 16

Hikma Pharmaceuticals plc

EGM

2

For

Agenda item : Authorise Issue of Equity in Connection with the Acquisition.

19 Feb 16

Hikma Pharmaceuticals plc

EGM

3

For

Agenda item : Authorise Off-Market Purchase of Shares on the Terms of the

01 Mar 16

The Sage Group plc

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

01 Mar 16

The Sage Group plc

AGM

2

For

Agenda item : Approve Final Dividend.

01 Mar 16

The Sage Group plc

AGM

3

For

Agenda item : Re-elect Donald Brydon as Director.

01 Mar 16

The Sage Group plc

AGM

4

For

Agenda item : Re-elect Neil Berkett as Director.

01 Mar 16

The Sage Group plc

AGM

5

For

Agenda item : Re-elect Drummond Hall as Director.

01 Mar 16

The Sage Group plc

AGM

6

For

Agenda item : Re-elect Steve Hare as Director.

01 Mar 16

The Sage Group plc

AGM

7

For

Agenda item : Re-elect Jonathan Howell as Director.

01 Mar 16

The Sage Group plc

AGM

8

For

Agenda item : Re-elect Stephen Kelly as Director.

01 Mar 16

The Sage Group plc

AGM

9

For

Agenda item : Re-elect Inna Kuznetsova as Director.

01 Mar 16

The Sage Group plc

AGM

10

For

Agenda item : Re-elect Ruth Markland as Director.

Roxane Laboratories Inc.

Contract.

01 Mar 16

The Sage Group plc

AGM

11

For

Agenda item : Reappoint Ernst & Young LLP as Auditors.

01 Mar 16

The Sage Group plc

AGM

12

For

Agenda item : Authorise the Audit and Risk Committee to Fix Remuneration

01 Mar 16

The Sage Group plc

AGM

13

For

Agenda item : Approve Remuneration Report.

01 Mar 16

The Sage Group plc

AGM

14

For

Agenda item : Approve Remuneration Policy.

01 Mar 16

The Sage Group plc

AGM

15

For

Agenda item : Authorise Issue of Equity with Pre-emptive Rights.

01 Mar 16

The Sage Group plc

AGM

16

For

Agenda item : Approve the Sage Save and Share Plan.

01 Mar 16

The Sage Group plc

AGM

17

For

Agenda item : Authorise Issue of Equity without Pre-emptive Rights.

of Auditors.

01 Mar 16

The Sage Group plc

AGM

18

For

Agenda item : Authorise Market Purchase of Ordinary Shares.

01 Mar 16

The Sage Group plc

AGM

19

For

Agenda item : Authorise the Company to Call General Meeting with Two

24 Mar 16

ICAP plc

Court

1

For

Agenda item : Approve Scheme of Arrangement.

Weeks' Notice. 24 Mar 16

ICAP plc

EGM

1

For

Agenda item : Approve Matters Relating to the Scheme of Arrangement.

24 Mar 16

ICAP plc

EGM

2

For

Agenda item : Amend Articles of Association.

24 Mar 16

ICAP plc

EGM

3

For

Agenda item : Authorise Issue of Equity with and without Pre-emptive Rights.

24 Mar 16

ICAP plc

EGM

4

For

Agenda item : Approve the Transaction.

Corporate governance – UK proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

24 Mar 16

ICAP plc

EGM

5

For

Agenda item : Approve Newco Reduction of Capital, the Demerger and the

24 Mar 16

ICAP plc

EGM

6

For

Agenda item : Approve Newco 2016 Performance Share Plan. Agenda item : Approve Newco 2016 Long Term Incentive Plan.

Share Consolidation. 24 Mar 16

ICAP plc

EGM

7

For

24 Mar 16

ICAP plc

EGM

8

For

Agenda item : Approve Newco 2016 Deferred Share Bonus Plan.

24 Mar 16

ICAP plc

EGM

9

For

Agenda item : Approve Newco 2016 Unapproved Company Share Option Plan.

24 Mar 16

ICAP plc

EGM

10

For

Agenda item : Approve Newco 2016 Sharesave Plan.

24 Mar 16

ICAP plc

EGM

11

For

Agenda item : Authorise Directors to Modify Employee Share Plans.

24 Mar 16

ICAP plc

EGM

12

For

Agenda item : Authorise Directors to Establish Further Employee Share Plans.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

11 Jan 16

ENEL SpA

EGM

1

For

Agenda item : Approve Partial Non-Proportional Demerger of Enel Green

14 Jan 16

Zodiac Aerospace

Annual/Special

1

For

Agenda item : Approve Financial Statements and Statutory Reports.

14 Jan 16

Zodiac Aerospace

Annual/Special

2

For

Agenda item : Approve Consolidated Financial Statements and Statutory

14 Jan 16

Zodiac Aerospace

Annual/Special

3

For

Power SpA in Favor of Enel SpA.

Reports. Agenda item : Approve Allocation of Income and Dividends of EUR 0.32 per Share. 14 Jan 16

Zodiac Aerospace

Annual/Special

4

For

14 Jan 16

Zodiac Aerospace

Annual/Special

5

For

Agenda item : Approve Auditors' Special Report on Related-Party Transactions. Agenda item : Authorise Repurchase of Up to 10 Percent of Issued Share Capital.

14 Jan 16

Zodiac Aerospace

Annual/Special

6

For

14 Jan 16

Zodiac Aerospace

Annual/Special

7

For

Agenda item : Re-elect Didier Domange as Supervisory Board Member. Agenda item : Re-elect Elisabeth Domange as Supervisory Board Member.

14 Jan 16

Zodiac Aerospace

Annual/Special

8

For

Agenda item : Acknowledge End of Mandate of Marc Assa as Member of the Supervisory Board.

14 Jan 16

Zodiac Aerospace

Annual/Special

9

For

Agenda item : Acknowledge End of Mandate of Robert Marechal as Member

14 Jan 16

Zodiac Aerospace

Annual/Special

10

For

Agenda item : Elect Estelle Brachlianoff as Supervisory Board Member.

14 Jan 16

Zodiac Aerospace

Annual/Special

11

For

Agenda item : Elect Fonds Strategique de Participation as Supervisory Board

14 Jan 16

Zodiac Aerospace

Annual/Special

12

For

14 Jan 16

Zodiac Aerospace

Annual/Special

13

For

Agenda item : Renew Appointment of Auditex as Alternate Auditor.

14 Jan 16

Zodiac Aerospace

Annual/Special

14

For

Agenda item : Advisory Vote on Compensation of Olivier Zarrouati,

14 Jan 16

Zodiac Aerospace

Annual/Special

15

For

14 Jan 16

Zodiac Aerospace

Annual/Special

16

For

14 Jan 16

Zodiac Aerospace

Annual/Special

17

Opposed

of the Supervisory Board.

Member. Agenda item : Renew Appointment of Ernst and Young Audit as Auditor.

Management Board Chairman. Agenda item : Advisory Vote on Compensation of Maurice Pinault, Management Board Member. Agenda item : Authorise Decrease in Share Capital via Cancellation of Repurchased Shares. Agenda item : Authorise up to 0.6 Percent of Issued Capital for Use in Restricted Stock Plans. UBS note : Transparency in compensation is desired.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

14 Jan 16

Zodiac Aerospace

Annual/Special

18

For

Agenda item : Subject to Approval of Item 17, Approve Cancellation of

14 Jan 16

Zodiac Aerospace

Annual/Special

19

For

14 Jan 16

Zodiac Aerospace

Annual/Special

20

Opposed

Delegation Authorised by the Jan 8, 2014 General Meeting under Item 19. Agenda item : Authorise Capital Issuances for Use in Employee Stock Purchase Plans. Agenda item : Amend Article 36 of Bylaws Re: Powers of the General Shareholder's Meeting. UBS note : Not in shareholders' interests. 14 Jan 16

Zodiac Aerospace

Annual/Special

21

For

Agenda item : Authorise Filing of Required Documents/Other Formalities.

18 Jan 16

National Bank of Greece SA

EGM

1

For

Agenda item : Approve Sale of Equity Holding in Finansbank AS and Finans

18 Jan 16

National Bank of Greece SA

EGM

2

Opposed

Agenda item : Other Business.

26 Jan 16

Siemens AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of EUR 3.50 per

26 Jan 16

Siemens AG

AGM

3

For

26 Jan 16

Siemens AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board for Fiscal 2014/2015.

26 Jan 16

Siemens AG

AGM

5

For

Agenda item : Ratify Ernst & Young GmbH as Auditors for Fiscal 2015/2016.

26 Jan 16

Siemens AG

AGM

6.1

For

Agenda item : Re-elect Nicola Leibinger-Kammueller to the Supervisory Board. Agenda item : Re-elect Jim Hagemann Snabe to the Supervisory Board.

Leasing. UBS note : Lack of details available regarding this proposal. Share. Agenda item : Approve Discharge of Management Board for Fiscal 2014/2015.

26 Jan 16

Siemens AG

AGM

6.2

For

26 Jan 16

Siemens AG

AGM

6.3

For

Agenda item : Re-elect Werner Wenning to the Supervisory Board.

26 Jan 16

Siemens AG

AGM

7

For

Agenda item : Approve Creation of EUR 90 Million Pool of Capital for Employee Stock Purchase Plan.

26 Jan 16

Siemens AG

AGM

8

For

26 Jan 16

Sodexo

Annual/Special

1

For

Agenda item : Approve Spin-Off and Takeover Agreement with Siemens Healthcare GmbH. Agenda item : Approve Financial Statements and Consolidated Financial Statements.

26 Jan 16

Sodexo

Annual/Special

2

For

26 Jan 16

Sodexo

Annual/Special

3

Opposed

Agenda item : Approve Allocation of Income and Dividends of EUR 2.20 per Share. Agenda item : Acknowledge Auditors' Special Report on Related-Party Transactions Mentioning the Absence of New Transactions.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

26 Jan 16

Sodexo

Annual/Special

4

For

Agenda item : Re-elect Robert Baconnier as Director.

26 Jan 16

Sodexo

Annual/Special

5

For

Agenda item : Re-elect Astrid Bellon as Director.

Comments UBS note : Lack of details available regarding this proposal.

26 Jan 16

Sodexo

Annual/Special

6

For

Agenda item : Re-elect Francois-Xavier Bellon as Director.

26 Jan 16

Sodexo

Annual/Special

7

For

Agenda item : Elect Emmanuel Babeau as Director.

26 Jan 16

Sodexo

Annual/Special

8

For

Agenda item : Advisory Vote on Compensation of Pierre Bellon, Chairman.

26 Jan 16

Sodexo

Annual/Special

9

For

Agenda item : Advisory Vote on Compensation of Michel Landel, CEO.

26 Jan 16

Sodexo

Annual/Special

10

For

Agenda item : Authorise Repurchase of Up to 10 Percent of Issued Share

26 Jan 16

Sodexo

Annual/Special

11

For

Capital. Agenda item : Authorise Decrease in Share Capital via Cancellation of Repurchased Shares. 26 Jan 16

Sodexo

Annual/Special

12

For

26 Jan 16

Sodexo

Annual/Special

13

For

Agenda item : Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of EUR 100 Million. Agenda item : Authorise Capitalization of Reserves of Up to EUR 100 Million for Bonus Issue or Increase in Par Value.

26 Jan 16

Sodexo

Annual/Special

14

Opposed

Agenda item : Authorise up to 2.5 Percent of Issued Capital for Use in Restricted Stock Plans. UBS note : The vesting conditions are inappropriate.

26 Jan 16

Sodexo

Annual/Special

15

For

Agenda item : Authorise Capital Issuances for Use in Employee Stock Purchase

26 Jan 16

Sodexo

Annual/Special

16

For

26 Jan 16

Sodexo

Annual/Special

17

For

Agenda item : Authorise Filing of Required Documents/Other Formalities.

29 Jan 16

ThyssenKrupp AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of EUR 0.15 per

29 Jan 16

ThyssenKrupp AG

AGM

3

For

29 Jan 16

ThyssenKrupp AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board for Fiscal 2014/2015.

29 Jan 16

ThyssenKrupp AG

AGM

5

For

Agenda item : Ratify PricewaterhouseCoopers AG as Auditors for Fiscal

16 Feb 16

Osram Licht AG

AGM

2

For

Plans. Agenda item : Amend Article 16.2 of Bylaws Re: Record Date.

Share. Agenda item : Approve Discharge of Management Board for Fiscal 2014/2015.

2015/2016. Agenda item : Approve Allocation of Income and Dividends of EUR 0.90 per Share.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

16 Feb 16

Osram Licht AG

AGM

3

For

Agenda item : Approve Discharge of Management Board for Fiscal

16 Feb 16

Osram Licht AG

AGM

4

For

16 Feb 16

Osram Licht AG

AGM

5.1

For

Agenda item : Ratify Ernst & Young GmbH as Auditors for Fiscal 2015/2016.

16 Feb 16

Osram Licht AG

AGM

5.2

For

Agenda item : Ratify Ernst & Young GmbH as Auditors for the First Half for

16 Feb 16

Osram Licht AG

AGM

5.3

For

2014/2015. Agenda item : Approve Discharge of Supervisory Board for Fiscal 2014/2015.

Fiscal 2015/2016. Agenda item : Ratify Ernst & Young GmbH as Auditors for any Additional Condensed Interim Reports for Fiscal 2015/2016 and for the First Quarter of Fiscal 2016/2017. 18 Feb 16

Infineon Technologies AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of EUR 0.20 per Share.

18 Feb 16

Infineon Technologies AG

AGM

3

For

Agenda item : Approve Discharge of Management Board for Fiscal

18 Feb 16

Infineon Technologies AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board for Fiscal 2014/2015.

18 Feb 16

Infineon Technologies AG

AGM

5.1

For

Agenda item : Ratify KPMG AG as Auditors for Fiscal 2015/2016.

18 Feb 16

Infineon Technologies AG

AGM

5.2

For

Agenda item : Ratify KPMG AG as Auditors for the First Quarter of Fiscal

18 Feb 16

Infineon Technologies AG

AGM

6

For

Agenda item : Approve Cancellation of Capital Authorization.

18 Feb 16

Infineon Technologies AG

AGM

7

For

Agenda item : Approve Qualified Employee Stock Purchase Plan.

2014/2015.

2016/2017.

18 Feb 16

Infineon Technologies AG

AGM

8

For

Agenda item : Approve Remuneration of Supervisory Board.

19 Feb 16

Metro AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.00 per

19 Feb 16

Metro AG

AGM

3

For

19 Feb 16

Metro AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board for Fiscal 2014/2015.

19 Feb 16

Metro AG

AGM

5

For

Agenda item : Ratify KPMG AG as Auditors for Fiscal 2015/2016.

19 Feb 16

Metro AG

AGM

6.1

For

Agenda item : Re-elect Ann-Kristin Achleitner to the Supervisory Board.

19 Feb 16

Metro AG

AGM

6.2

For

Agenda item : Elect Karin Dohm to the Supervisory Board.

19 Feb 16

Metro AG

AGM

6.3

For

Agenda item : Re-elect Peter Kuepfer to the Supervisory Board.

19 Feb 16

Metro AG

AGM

6.4

For

Agenda item : Elect Juergen Steinemann to the Supervisory Board.

19 Feb 16

Metro AG

AGM

7

Opposed

Agenda item : Approve Creation of EUR 325 Million Pool of Capital without

Ordinary Share and EUR 1.06 per Preference Share. Agenda item : Approve Discharge of Management Board for Fiscal 2014/2015.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Pre-emptive Rights. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

19 Feb 16

Metro AG

AGM

8

For

Agenda item : Approve Remuneration of Supervisory Board.

23 Feb 16

Novartis AG

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

23 Feb 16

Novartis AG

AGM

2

For

Agenda item : Approve Discharge of Board and Senior Management.

23 Feb 16

Novartis AG

AGM

3

For

Agenda item : Approve Allocation of Income and Dividends of CHF 2.70 per

23 Feb 16

Novartis AG

AGM

4

For

23 Feb 16

Novartis AG

AGM

5

For

23 Feb 16

Novartis AG

AGM

6.1

For

23 Feb 16

Novartis AG

AGM

6.2

For

23 Feb 16

Novartis AG

AGM

6.3

Opposed

Share. Agenda item : Approve CHF 24.9 Million Reduction in Share Capital via Cancellation of Repurchased Shares. Agenda item : Authorise Repurchase of up to CHF 10 Billion in Issued Share Capital. Agenda item : Approve Maximum Remuneration of Board of Directors in the Amount of CHF 8.16 Million. Agenda item : Approve Maximum Remuneration of Executive Committee in the Amount of CHF 93 Million. Agenda item : Approve Remuneration Report (Non-Binding). UBS note : We will not support the remuneration policy of a company if we have concerns regarding it's alignment with shareholder interests. 23 Feb 16

Novartis AG

AGM

7.1

For

Agenda item : Re-elect Joerg Reinhardt as Director and Chairman.

23 Feb 16

Novartis AG

AGM

7.10

For

Agenda item : Re-elect William Winters as Director.

23 Feb 16

Novartis AG

AGM

7.11

For

Agenda item : Elect Tom Buechner as Director.

23 Feb 16

Novartis AG

AGM

7.12

For

Agenda item : Elect Elizabeth Doherty as Director.

23 Feb 16

Novartis AG

AGM

7.2

For

Agenda item : Re-elect Nancy Andrews as Director.

23 Feb 16

Novartis AG

AGM

7.3

For

Agenda item : Re-elect Dimitri Azar as Director.

23 Feb 16

Novartis AG

AGM

7.4

For

Agenda item : Re-elect Srikant Datar as Director.

23 Feb 16

Novartis AG

AGM

7.5

For

Agenda item : Re-elect Ann Fudge as Director.

23 Feb 16

Novartis AG

AGM

7.6

For

Agenda item : Re-elect Pierre Landolt as Director.

23 Feb 16

Novartis AG

AGM

7.7

For

Agenda item : Re-elect Andreas von Planta as Director.

23 Feb 16

Novartis AG

AGM

7.8

For

Agenda item : Re-elect Charles Sawyers as Director.

23 Feb 16

Novartis AG

AGM

7.9

For

Agenda item : Re-elect Enrico Vanni as Director.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

23 Feb 16

Novartis AG

AGM

8.1

For

Agenda item : Appoint Srikant Datar as Member of the Compensation

23 Feb 16

Novartis AG

AGM

8.2

For

23 Feb 16

Novartis AG

AGM

8.3

For

23 Feb 16

Novartis AG

AGM

8.4

For

23 Feb 16

Novartis AG

AGM

9

For

Agenda item : Ratify PricewaterhouseCoopers AG as Auditors.

23 Feb 16

Novartis AG

AGM

10

For

Agenda item : Designate Peter Andreas Zahn as Independent Proxy.

23 Feb 16

Novartis AG

AGM

11

Opposed

Agenda item : Transact Other Business (Voting).

26 Feb 16

Intesa SanPaolo SPA

EGM

1

For

Agenda item : Adopt New Bylaws.

03 Mar 16

Wartsila Oyj

AGM

3

For

Agenda item : Designate Inspector or Shareholder Representative(s) of

Committee. Agenda item : Appoint Ann Fudge as Member of the Compensation Committee. Agenda item : Appoint Enrico Vanni as Member of the Compensation Committee. Agenda item : Appoint William Winters as Member of the Compensation Committee.

UBS note : Lack of details available regarding this proposal.

Minutes of Meeting. 03 Mar 16

Wartsila Oyj

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

03 Mar 16

Wartsila Oyj

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

03 Mar 16

Wartsila Oyj

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

03 Mar 16

Wartsila Oyj

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.20 Per

03 Mar 16

Wartsila Oyj

AGM

9

For

Agenda item : Approve Discharge of Board and President.

03 Mar 16

Wartsila Oyj

AGM

10

For

Agenda item : Approve Remuneration of Directors in the Amount of EUR

Share.

132,000 for Chairman, EUR 99,000 for Vice Chairman, and EUR 66,000 for Other Directors; Approve Meeting Fees; Approve Remuneration for Committee Work. 03 Mar 16

Wartsila Oyj

AGM

11

For

Agenda item : Fix Number of Directors at Eight.

03 Mar 16

Wartsila Oyj

AGM

12

For

Agenda item : Re-elect Maarit Aarni-Sirvio, Kaj-Gustaf Bergh, Sune Carlsson, Tom Johnstone, Mikael Lilius (Chairman), Risto Murto, Gunilla Nordstrom, and Markus Rauramo as Directors.

03 Mar 16

Wartsila Oyj

AGM

13

For

Agenda item : Approve Remuneration of Auditors.

03 Mar 16

Wartsila Oyj

AGM

14

For

Agenda item : Ratify KPMG as Auditors.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Authorise Share Repurchase Program.

03 Mar 16

Wartsila Oyj

AGM

15a

For

03 Mar 16

Wartsila Oyj

AGM

15b

For

Agenda item : Authorise Reissuance of Repurchased Shares.

03 Mar 16

Wartsila Oyj

AGM

16

For

Agenda item : Amend Articles Re: Corporate Purpose; Convocation to General

03 Mar 16

Wartsila Oyj

AGM

17

For

Agenda item : Approve Charitable Donations of up to EUR 1.3 Million.

07 Mar 16

KONE Corporation

AGM

3

For

Agenda item : Designate Inspector or Shareholder Representative(s) of

Meeting.

Minutes of Meeting. 07 Mar 16

KONE Corporation

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

07 Mar 16

KONE Corporation

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

07 Mar 16

KONE Corporation

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

07 Mar 16

KONE Corporation

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.3975 per

07 Mar 16

KONE Corporation

AGM

9

For

Agenda item : Approve Discharge of Board and President.

07 Mar 16

KONE Corporation

AGM

10

For

Agenda item : Approve Remuneration of Directors in the Amount of EUR

Class A Share and EUR 1.40 per Class B Share.

54,000 for Chairman, EUR 44,000 for Vice Chairman, and EUR 33,000 for Other Directors; Approve Attendance Fees for Board and Committee Work. 07 Mar 16

KONE Corporation

AGM

11

For

Agenda item : Fix Number of Directors at Eight.

07 Mar 16

KONE Corporation

AGM

12

Opposed

Agenda item : Re-elect Matti Alahuhta, Anne Brunila, Antti Herlin, Iiris Herlin, Jussi Herlin, Ravi Kant, Juhani Kaskeala, and Sirpa Pietikainen as Directors. UBS note : A bundled resolution for the election of directors is not appropriate.

07 Mar 16

KONE Corporation

AGM

13

For

Agenda item : Approve Remuneration of Auditors.

07 Mar 16

KONE Corporation

AGM

14

For

Agenda item : Fix Number of Auditors at Two. Agenda item : Ratify PricewaterhouseCoopers and Niina Vilske as Auditors.

07 Mar 16

KONE Corporation

AGM

15

For

07 Mar 16

KONE Corporation

AGM

16

For

Agenda item : Authorise Share Repurchase Program.

10 Mar 16

ArcelorMittal

EGM

1

For

Agenda item : Approve Reduction in Share Capital Without Distribution to Shareholders.

10 Mar 16

ArcelorMittal

EGM

2

For

Agenda item : Authorise Board to Issue Shares.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

1.1

For

Agenda item : Approve Consolidated and Standalone Financial Statements.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

1.2

For

Agenda item : Approve Allocation of Income and Dividends.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

1.3

For

Agenda item : Approve Discharge of Board.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

2.1

Opposed

Comments Agenda item : Re-elect Francisco GonzÃ¡lez RodrÃguez as Director. UBS note : The election of this nominee to the board would not serve the interests of long term investors.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

2.2

For

Agenda item : Ratify Appointment of and Elect Carlos Torres Vila as Director.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

2.3

For

Agenda item : Elect James Andrew Stott as Director.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

2.4

For

Agenda item : Elect Sunir Kumar Kapoor as Director.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

3.1

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

3.2

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

3.3

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

3.4

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

4

For

Agenda item : Approve Deferred Share Bonus Plan.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

5

For

Agenda item : Renew Appointment of Deloitte as Auditor.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

6

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

10 Mar 16

Banco Bilbao Vizcaya Argentaria, S.A.

AGM

7

For

Agenda item : Advisory Vote on Remuneration Policy Report.

11 Mar 16

Mapfre S.A.

AGM

1

For

Agenda item : Approve Consolidated and Standalone Financial Statements.

11 Mar 16

Mapfre S.A.

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends.

11 Mar 16

Mapfre S.A.

AGM

3

For

Agenda item : Approve Discharge of Board.

11 Mar 16

Mapfre S.A.

AGM

4

For

Agenda item : Re-elect Esteban Tejera Montalvo as Director.

11 Mar 16

Mapfre S.A.

AGM

5

For

Agenda item : Re-elect Ignacio Baeza GÃ³mez as Director.

11 Mar 16

Mapfre S.A.

AGM

6

For

Agenda item : Ratify Appointment of and Elect MarÃa Leticia de Freitas Costa

11 Mar 16

Mapfre S.A.

AGM

7

For

as Director. Agenda item : Ratify Appointment of and Elect JosÃ© Antonio Colomer Guiu as Director. 11 Mar 16

Mapfre S.A.

AGM

8

For

Agenda item : Amend Article 22 Re: Audit Committee.

11 Mar 16

Mapfre S.A.

AGM

9

For

Agenda item : Authorise Share Repurchase Program.

11 Mar 16

Mapfre S.A.

AGM

10

Opposed

Agenda item : Approve Remuneration Policy. UBS note : Transparency in compensation is desired.

11 Mar 16

Mapfre S.A.

AGM

11

Opposed

Agenda item : Advisory Vote on Remuneration Report.

11 Mar 16

Mapfre S.A.

AGM

12

For

Agenda item : Authorise Board to Delegate the Powers Conferred by the

UBS note : Transparency in compensation is desired. General Meeting in Favor of the Executive Committee.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

11 Mar 16

Mapfre S.A.

AGM

13

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

11 Mar 16

Mapfre S.A.

AGM

14

For

Agenda item : Authorise Board to Clarify or Interpret Preceding Resolutions.

14 Mar 16

Koninklijke Ahold NV

EGM

2

For

Agenda item : Approve Merger Agreement with SA Groupe Delhaize.

14 Mar 16

Koninklijke Ahold NV

EGM

3.a

For

Agenda item : Elect F. Muller to Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.b

For

Agenda item : Elect P. Bouchut to Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.c

For

Agenda item : Elect K. Holt to Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.d

For

Agenda item : Elect M. Jansson to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.e

For

Agenda item : Elect J. de Vaucleroy to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.f

For

Agenda item : Elect P. De Maeseneire to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.g

For

Agenda item : Elect D. Leroy to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.h

For

Agenda item : Elect W.G. McEwan to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.i

For

Agenda item : Elect J.L. Stahl to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

3.j

For

Agenda item : Elect J. Thijs to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

4

For

Agenda item : Approve Reduction in Capital with EUR 1 Billion Repayment.

14 Mar 16

Koninklijke Ahold NV

EGM

5

Opposed

Agenda item : Amend Articles Re: Option Right to Stichting Ahold ContinuÃ¯teit. UBS note : Not in shareholders' interests.

14 Mar 16

Koninklijke Ahold NV

EGM

6.a

For

Agenda item : Elect Mr. J. Carr to Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

6.b

For

Agenda item : Elect J.E. McCann to Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

7.a

For

Agenda item : Elect M.G. McGrath to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

7.b

For

Agenda item : Elect M.A. Citrino to Supervisory Board.

14 Mar 16

Koninklijke Ahold NV

EGM

8

For

Agenda item : Amend the Remuneration Policy of the Management Board.

14 Mar 16

Koninklijke Ahold NV

EGM

9

For

Agenda item : Amend the Remuneration Policy of the Supervisory Board.

14 Mar 16

SA Groupe Delhaize

EGM

3

For

Agenda item : Approve Cross-Border Merger with Koninklijke Ahold N.V.

14 Mar 16

SA Groupe Delhaize

EGM

4

Opposed

Agenda item : Approve EUR 1.5 Million PSU Award to Frans Muller. UBS note : Remuneration policy insufficiently aligned with shareholders' interests.

14 Mar 16

SA Groupe Delhaize

EGM

5

For

Agenda item : Approve Discharge of Directors for the Period until EGM.

14 Mar 16

SA Groupe Delhaize

EGM

6

For

Agenda item : Authorise Implementation of Approved Resolutions and Filing

14 Mar 16

SGS SA

AGM

1.1

For

of Required Documents/Formalities at Trade Registry. Agenda item : Accept Financial Statements and Statutory Reports.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Approve Remuneration Report.

14 Mar 16

SGS SA

AGM

1.2

For

14 Mar 16

SGS SA

AGM

2

For

Agenda item : Approve Discharge of Board and Senior Management.

14 Mar 16

SGS SA

AGM

3

For

Agenda item : Approve Allocation of Income and Dividends of CHF 68 per

14 Mar 16

SGS SA

AGM

4.1.a

Opposed

14 Mar 16

SGS SA

AGM

4.1.b

Opposed

Share. Agenda item : Re-elect Paul Desmarais as Director. UBS note : Nominee holds an excessive number of board positions. Agenda item : Re-elect August Von Finck as Director. UBS note : Candidate for the Compensation Committee is not considered independent and the level of independence is insufficient. 14 Mar 16

SGS SA

AGM

4.1.c

Opposed

Agenda item : Re-elect August Francois Von Finck as Director. UBS note : Candidate for the Audit Committee is not considered independent and the level of independence is insufficient.

14 Mar 16

SGS SA

AGM

4.1.d

Opposed

Agenda item : Re-elect Ian Gallienne as Director. UBS note : Candidate for the Compensation Committee is not considered independent and the level of independence is insufficient.

14 Mar 16

SGS SA

AGM

4.1.e

For

Agenda item : Re-elect Cornelius Grupp as Director.

14 Mar 16

SGS SA

AGM

4.1.f

For

Agenda item : Re-elect Peter Kalantzis as Director.

14 Mar 16

SGS SA

AGM

4.1.g

For

Agenda item : Re-elect Christopher Kirk as Director.

14 Mar 16

SGS SA

AGM

4.1.h

Opposed

Agenda item : Re-elect Gerard Lamarche as Director. UBS note : Candidate for the Audit Committee is not considered independent and the level of independence is insufficient.

14 Mar 16

SGS SA

AGM

4.1.i

Opposed

Agenda item : Re-elect Sergio Marchionne as Director. UBS note : As Board Chairman the nominee has ultimate responsibility for the Corporate Governance of the company, over which we have concerns.

14 Mar 16

SGS SA

AGM

4.1.j

For

14 Mar 16

SGS SA

AGM

4.2

Opposed

Agenda item : Re-elect Shelby Du Pasquier as Director. Agenda item : Re-elect Sergio Marchionne as Board Chairman. UBS note : As Board Chairman the nominee has ultimate responsibility for the Corporate Governance of the company, over which we have concerns.

14 Mar 16

SGS SA

AGM

4.3.a

Opposed

Agenda item : Appoint August Von Finck as Member of the Compensation Committee. UBS note : Candidate for the Compensation Committee is not considered

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

14 Mar 16

SGS SA

AGM

4.3.b

Comments independent and the level of independence is insufficient.

Opposed

Agenda item : Appoint Ian Gallienne as Member of the Compensation Committee. UBS note : Candidate for the Compensation Committee is not considered independent and the level of independence is insufficient.

14 Mar 16

SGS SA

AGM

4.3.c

For

Agenda item : Appoint Shelby Du Pasquier as Member of the Compensation Committee.

14 Mar 16

SGS SA

AGM

4.4

For

14 Mar 16

SGS SA

AGM

4.5

For

Agenda item : Ratify Deloitte SA as Auditors. Agenda item : Designate Jeandin & Defacqz as Independent Proxy.

14 Mar 16

SGS SA

AGM

5.1

For

Agenda item : Approve Remuneration of Directors in the Amount of CHF 2,1 Million.

14 Mar 16

SGS SA

AGM

5.2

For

14 Mar 16

SGS SA

AGM

5.3

For

Agenda item : Approve Fixed Remuneration of Executive Committee in the Amount of CHF 9.2 Million for Fiscal 2017. Agenda item : Approve Variable Remuneration of Executive Committee in the Amount of CHF 5.6 Million for Fiscal 2015.

14 Mar 16

SGS SA

AGM

6

Opposed

Agenda item : Transact Other Business (Voting).

15 Mar 16

Bankia SA

AGM

1.1

For

Agenda item : Approve Standalone Financial Statements.

15 Mar 16

Bankia SA

AGM

1.2

For

Agenda item : Approve Consolidated Financial Statements.

15 Mar 16

Bankia SA

AGM

1.3

For

Agenda item : Approve Discharge of Board.

15 Mar 16

Bankia SA

AGM

1.4

For

Agenda item : Approve Allocation of Income and Dividends.

15 Mar 16

Bankia SA

AGM

2.1

For

Agenda item : Elect Antonio GreÃ±o Hidalgo as Director.

15 Mar 16

Bankia SA

AGM

2.2

For

Agenda item : Re-elect JosÃ© Sevilla Ã lvarez as Director.

UBS note : Lack of details on proposals.

15 Mar 16

Bankia SA

AGM

2.3

For

Agenda item : Re-elect JoaquÃn Ayuso GarcÃa as Director.

15 Mar 16

Bankia SA

AGM

2.4

For

Agenda item : Re-elect Francisco Javier Campo GarcÃa as Director.

15 Mar 16

Bankia SA

AGM

2.5

For

Agenda item : Re-elect Eva Castillo Sanz as Director.

15 Mar 16

Bankia SA

AGM

3

For

Agenda item : Renew Appointment of Ernst & Young as Auditor.

15 Mar 16

Bankia SA

AGM

4.1

Opposed

Agenda item : Amend Articles Re: Issuance of Bonds and Other Securities.

15 Mar 16

Bankia SA

AGM

4.2

Opposed

UBS note : Lack of details available regarding this proposal. Agenda item : Amend Articles Re: General Meetings. UBS note : Lack of details available regarding this proposal.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

15 Mar 16

Bankia SA

AGM

4.3

For

Agenda item : Amend Articles Re: Board of Directors.

15 Mar 16

Bankia SA

AGM

4.4

For

Agenda item : Amend Articles Re: Board Committees.

15 Mar 16

Bankia SA

AGM

4.5

For

Agenda item : Amend Article 49 Re: Director Remuneration.

15 Mar 16

Bankia SA

AGM

4.6

Opposed

Agenda item : Amend Article53 Re: Fiscal Year and Annual Accounts.

15 Mar 16

Bankia SA

AGM

4.7

For

Agenda item : Amend Transitional Provision.

15 Mar 16

Bankia SA

AGM

5.1

Opposed

Agenda item : Amend Article 2 of General Meeting Regulations Re:

UBS note : Lack of details available regarding this proposal.

Competencies. UBS note : Not in shareholders' interests. 15 Mar 16

Bankia SA

AGM

5.2

For

Agenda item : Amend Articles of General Meeting Regulations Re: Available Information and Right to Information Prior to the Meeting.

15 Mar 16

Bankia SA

AGM

5.3

Opposed

Agenda item : Amend Article 11 of General Meeting Regulations Re: Development of the Meeting. UBS note : Not in shareholders' interests.

15 Mar 16

Bankia SA

AGM

6

Opposed

Agenda item : Authorise Increase in Capital up to 50 Percent via Issuance of Equity or Equity-Linked Securities, Excluding Pre-emptive Rights of up to 20 Percent. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

15 Mar 16

Bankia SA

AGM

7

Opposed

Agenda item : Authorise Issuance of Non-Convertible and/or Convertible Bonds, Debentures, Warrants, and Other Debt Securities up to EUR 1.5 Billion with Exclusion of Pre-emptive Rights up to 20 Percent of Capital. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

15 Mar 16

Bankia SA

AGM

8

For

Agenda item : Authorise Issuance of Non-Convertible Bonds/Debentures and/or Other Debt Securities up to EUR 30 Billion and Issuance of Notes up to EUR 15 Billion.

15 Mar 16

Bankia SA

AGM

9

For

Agenda item : Authorise Share Repurchase Program.

15 Mar 16

Bankia SA

AGM

10

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

15 Mar 16

Bankia SA

AGM

11

For

Agenda item : Advisory Vote on Remuneration Report.

17 Mar 16

Banco Santander S.A.

AGM

1.A

For

Agenda item : Approve Consolidated and Standalone Financial Statements.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Approve Discharge of Board.

17 Mar 16

Banco Santander S.A.

AGM

1.B

For

17 Mar 16

Banco Santander S.A.

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends.

17 Mar 16

Banco Santander S.A.

AGM

3.A

For

Agenda item : Ratify Appointment of and Elect BelÃ©n Romana GarcÃa as

17 Mar 16

Banco Santander S.A.

AGM

3.B

For

17 Mar 16

Banco Santander S.A.

AGM

3.C

For

Agenda item : Re-elect Sol Daurella ComadrÃ¡n as Director.

17 Mar 16

Banco Santander S.A.

AGM

3.D

For

Agenda item : Re-elect Ã ngel Jado Becerro de Bengoa as Director.

17 Mar 16

Banco Santander S.A.

AGM

3.E

For

Agenda item : Re-elect Javier BotÃn-Sanz de Sautuola y O'Shea as Director.

17 Mar 16

Banco Santander S.A.

AGM

3.F

For

Agenda item : Re-elect Isabel Tocino Biscarolasaga as Director.

17 Mar 16

Banco Santander S.A.

AGM

3.G

For

Agenda item : Re-elect Bruce Carnegie-Brown as Director.

17 Mar 16

Banco Santander S.A.

AGM

4

For

Agenda item : Appoint PricewaterhouseCoopers as Auditor.

17 Mar 16

Banco Santander S.A.

AGM

5.A

For

Agenda item : Amend Article 23 Re: Convening of General Meetings.

17 Mar 16

Banco Santander S.A.

AGM

5.B

For

Agenda item : Amend Articles Re: Shareholder Value and Secretary of the

Director. Agenda item : Ratify Appointment of and Elect Ignacio Benjumea Cabeza de Vaca as Director.

Board. 17 Mar 16

Banco Santander S.A.

AGM

5.C

For

Agenda item : Amend Articles Re: Board Committees.

17 Mar 16

Banco Santander S.A.

AGM

6.A

For

Agenda item : Amend Article 6 of General Meeting Regulations Re:

17 Mar 16

Banco Santander S.A.

AGM

6.B

For

17 Mar 16

Banco Santander S.A.

AGM

7

For

17 Mar 16

Banco Santander S.A.

AGM

8

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends.

17 Mar 16

Banco Santander S.A.

AGM

9

For

Agenda item : Authorise Issuance of Non-Convertible Debt Securities up to

17 Mar 16

Banco Santander S.A.

AGM

10

For

Agenda item : Approve Remuneration Policy.

17 Mar 16

Banco Santander S.A.

AGM

11

For

Agenda item : Approve Remuneration of Directors.

17 Mar 16

Banco Santander S.A.

AGM

12

For

Agenda item : Fix Maximum Variable Compensation Ratio.

17 Mar 16

Banco Santander S.A.

AGM

13.A

For

Agenda item : Approve Deferred Share Bonus Plan.

17 Mar 16

Banco Santander S.A.

AGM

13.B

For

Agenda item : Approve Deferred Share Bonus Plan.

17 Mar 16

Banco Santander S.A.

AGM

13.C

For

Agenda item : Approve Buy-out Policy.

17 Mar 16

Banco Santander S.A.

AGM

13.D

For

Agenda item : Approve Employee Stock Purchase Plan.

Information Available as of Date of Notice of Meeting. Agenda item : Amend Article 21 of General Meeting Regulations Re: Voting of Proposals. Agenda item : Approve Capital Raising.

EUR 50 Billion.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

17 Mar 16

Banco Santander S.A.

AGM

14

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

17 Mar 16

Banco Santander S.A.

AGM

15

For

Agenda item : Advisory Vote on Remuneration Report.

17 Mar 16

Bankinter S.A.

AGM

1

For

Agenda item : Approve Consolidated and Standalone Financial Statements.

17 Mar 16

Bankinter S.A.

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends.

17 Mar 16

Bankinter S.A.

AGM

3

For

Agenda item : Approve Discharge of Board.

17 Mar 16

Bankinter S.A.

AGM

4

For

Agenda item : Appoint PricewaterhouseCoopers as Auditor.

17 Mar 16

Bankinter S.A.

AGM

5

For

Agenda item : Approve a Restricted Capitalization Reserve Pursuant to Section

17 Mar 16

Bankinter S.A.

AGM

6.1

For

Agenda item : Re-elect Gonzalo de la Hoz Lizcano as Director.

17 Mar 16

Bankinter S.A.

AGM

6.2

For

Agenda item : Re-elect Jaime Terceiro Lomba as Director.

17 Mar 16

Bankinter S.A.

AGM

6.3

For

Agenda item : Fix Number of Directors at 10.

17 Mar 16

Bankinter S.A.

AGM

7.1

For

Agenda item : Approve Remuneration Policy.

17 Mar 16

Bankinter S.A.

AGM

7.2

For

Agenda item : Approve Deferred Share Bonus Plan for FY 2015.

17 Mar 16

Bankinter S.A.

AGM

7.3

Opposed

25.1.b) of Law 27/2014 of 27 November on Corporate Income Tax.

Agenda item : Approve Deferred Share Bonus Plan for FY 2013. UBS note : Remuneration policy insufficiently aligned with shareholders' interests.

17 Mar 16

Bankinter S.A.

AGM

7.4

For

Agenda item : Fix Maximum Variable Compensation Ratio.

17 Mar 16

Bankinter S.A.

AGM

8

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

17 Mar 16

Bankinter S.A.

AGM

9

For

Agenda item : Advisory Vote on Remuneration Report.

17 Mar 16

Enagas S.A.

AGM

1

For

Agenda item : Approve Consolidated and Standalone Financial Statements.

17 Mar 16

Enagas S.A.

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends.

17 Mar 16

Enagas S.A.

AGM

3

For

Agenda item : Approve Discharge of Board.

17 Mar 16

Enagas S.A.

AGM

4

For

Agenda item : Appoint Ernst & Young as Auditor.

17 Mar 16

Enagas S.A.

AGM

5

For

Agenda item : Re-elect Sociedad Estatal de Participaciones Industriales as

17 Mar 16

Enagas S.A.

AGM

6.1

For

Director. Agenda item : Amend Article 3 Re: Registered Office, Branches and Corporate Website. 17 Mar 16

Enagas S.A.

AGM

6.2

For

Agenda item : Amend Articles Re: Exceptional Convening of Meetings and

17 Mar 16

Enagas S.A.

AGM

6.3

For

Agenda item : Amend Article 44 Re: Audit and Compliance Committee.

17 Mar 16

Enagas S.A.

AGM

6.4

For

Agenda item : Amend Article 45 Re: Appointments, Remuneration and

Appointment of Auditors.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

17 Mar 16

Enagas S.A.

AGM

7

For

Agenda item : Approve Remuneration Policy.

17 Mar 16

Enagas S.A.

AGM

8

For

Agenda item : Approve Restricted Stock Plan.

Comments Corporate Social Responsibility Committee.

17 Mar 16

Enagas S.A.

AGM

9

For

Agenda item : Advisory Vote on Remuneration Report.

17 Mar 16

Enagas S.A.

AGM

10

For

Agenda item : Authorise Issuance of Non-Convertible Bonds/Debentures

17 Mar 16

Enagas S.A.

AGM

11

Opposed

and/or Other Debt Securities up to EUR 5 Billion. Agenda item : Authorise Issuance of Convertible Bonds, Debentures, Warrants, and Other Debt Securities up to EUR 1 Billion with Exclusion of Pre-emptive Rights up to 20 Percent of Capital. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests. 17 Mar 16

Enagas S.A.

AGM

13

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

17 Mar 16

Givaudan SA

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

17 Mar 16

Givaudan SA

AGM

2

For

Agenda item : Approve Remuneration Report.

17 Mar 16

Givaudan SA

AGM

3

For

Agenda item : Approve Allocation of Income and Dividends of CHF 54 per

17 Mar 16

Givaudan SA

AGM

4

For

Agenda item : Approve Discharge of Board of Directors.

17 Mar 16

Givaudan SA

AGM

5.1.1

For

Agenda item : Re-elect Werner Bauer as Director.

17 Mar 16

Givaudan SA

AGM

5.1.2

For

Agenda item : Re-elect Lilian Biner as Director.

Share.

17 Mar 16

Givaudan SA

AGM

5.1.3

For

Agenda item : Re-elect Michael Carlos as Director.

17 Mar 16

Givaudan SA

AGM

5.1.4

For

Agenda item : Re-elect Ingrid Deltenre as Director.

17 Mar 16

Givaudan SA

AGM

5.1.5

For

Agenda item : Re-elect Calvin Grieder as Director.

17 Mar 16

Givaudan SA

AGM

5.1.6

For

Agenda item : Re-elect Thomas Rufer as Director.

17 Mar 16

Givaudan SA

AGM

5.1.7

For

Agenda item : Re-elect Juerg Witmer as Director.

17 Mar 16

Givaudan SA

AGM

5.2

For

Agenda item : Elect Victor Bali as Director.

17 Mar 16

Givaudan SA

AGM

5.3

For

Agenda item : Elect Juerg Witmer as Board Chairman.

17 Mar 16

Givaudan SA

AGM

5.4.1

For

Agenda item : Appoint Werner Bauer as Member of the Compensation

17 Mar 16

Givaudan SA

AGM

5.4.2

For

17 Mar 16

Givaudan SA

AGM

5.4.3

For

Committee. Agenda item : Appoint Ingrid Deltenre as Member of the Compensation Committee. Agenda item : Appoint Calvin Grieder as Member of the Compensation

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

17 Mar 16

Givaudan SA

AGM

5.5

For

Agenda item : Designate Manuel Isler as Independent Proxy.

17 Mar 16

Givaudan SA

AGM

5.6

For

Agenda item : Ratify Deloitte SA as Auditors.

17 Mar 16

Givaudan SA

AGM

6.1

For

Agenda item : Approve Remuneration of Board of Directors in the Amount of

17 Mar 16

Givaudan SA

AGM

6.2.1

For

Comments Committee.

CHF 3.3 Million. Agenda item : Approve Short Term Variable Remuneration of Executive Committee for Fiscal 2015 in the Amount of CHF 2.4 Million. 17 Mar 16

Givaudan SA

AGM

6.2.2

For

17 Mar 16

Givaudan SA

AGM

7

Opposed

Agenda item : Approve Maximum Fixed and Long Term Remuneration of Executive Committee for Fiscal 2016 in the Amount of CHF 19.8 Million. Agenda item : Transact Other Business (Voting). UBS note : In certain instances when we do not have enough information we may choose to abstain or vote against a particular proposal.

21 Mar 16

Metso Corporation

AGM

3

For

Agenda item : Designate Inspector or Shareholder Representative(s) of

21 Mar 16

Metso Corporation

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

21 Mar 16

Metso Corporation

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

21 Mar 16

Metso Corporation

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

21 Mar 16

Metso Corporation

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.05 Per

Minutes of Meeting.

Share. 21 Mar 16

Metso Corporation

AGM

9

For

Agenda item : Approve Discharge of Board and President.

21 Mar 16

Metso Corporation

AGM

10

For

Agenda item : Approve Remuneration of Directors in the Amount of EUR 110,000 for Chairman, EUR 62,000 for Vice Chairman and EUR 50,000 for Other Directors; Approve Meeting Fees; Approve Remuneration for Committee Work.

21 Mar 16

Metso Corporation

AGM

11

For

Agenda item : Fix Number of Directors at Eight.

21 Mar 16

Metso Corporation

AGM

12

For

Agenda item : Re-elect Mikael Lilius (Chairman), Christer Gardell (Vice Chairman), Wilson Brumer, Ozey Horton, Lars Josefsson and Nina Kopola as Directors; Elect Peter Carlsson and Arja Talma as New Director.

21 Mar 16

Metso Corporation

AGM

13

For

Agenda item : Approve Remuneration of Auditors.

21 Mar 16

Metso Corporation

AGM

14

For

Agenda item : Ratify Ernst & Young as Auditors.

21 Mar 16

Metso Corporation

AGM

15

For

Agenda item : Authorise Share Repurchase Program.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

21 Mar 16

Metso Corporation

AGM

16

For

Agenda item : Approve Issuance of up to 15.0 Million Shares and Conveyance

22 Mar 16

Orion Oyj

AGM

3

For

22 Mar 16

Orion Oyj

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

22 Mar 16

Orion Oyj

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

22 Mar 16

Orion Oyj

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

22 Mar 16

Orion Oyj

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.30 Per

22 Mar 16

Orion Oyj

AGM

9

For

Agenda item : Approve Discharge of Board and President.

22 Mar 16

Orion Oyj

AGM

10

For

Agenda item : Approve Remuneration of Directors in the Amount of EUR

of up to 10.0 Million Shares without Pre-emptive Rights. Agenda item : Designate Inspector or Shareholder Representative(s) of Minutes of Meeting.

Share.

76,000 for Chairman, EUR 51,000 for Vice Chairman, and EUR 38,000 for Other Directors; Approve Meeting Fees. 22 Mar 16

Orion Oyj

AGM

11

For

Agenda item : Fix Number of Directors at Seven.

22 Mar 16

Orion Oyj

AGM

12

For

Agenda item : Re-elect Sirpa Jalkanen, Timo Maasilta, Mikael Silvennoinen, Hannu Syrjanen, Heikki Westerlund and Jukka Ylppo as Directors; Elect Eija Ronkainen as New Director.

22 Mar 16

Orion Oyj

AGM

13

For

Agenda item : Approve Remuneration of Auditors.

22 Mar 16

Orion Oyj

AGM

14

For

Agenda item : Ratify PricewaterhouseCoopers as Auditors.

22 Mar 16

Orion Oyj

AGM

15

For

Agenda item : Authorise Share Repurchase Program.

22 Mar 16

Orion Oyj

AGM

16

For

Agenda item : Approve Issuance of up to 600,000 B-Shares without

22 Mar 16

Schindler Holding AG

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

22 Mar 16

Schindler Holding AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of CHF 2.70 per

22 Mar 16

Schindler Holding AG

AGM

3

For

Agenda item : Approve Discharge of Board and Senior Management.

22 Mar 16

Schindler Holding AG

AGM

4.1

For

Agenda item : Approve Fixed Remuneration of Directors in the Amount of

22 Mar 16

Schindler Holding AG

AGM

4.2

For

22 Mar 16

Schindler Holding AG

AGM

4.3

For

Pre-emptive Rights.

Share and Participation Certificate.

CHF 8.9 Million for Fiscal 2016. Agenda item : Approve Fixed Remuneration of Executive Committee in the Amount of CHF 9.4 Million for Fiscal 2016. Agenda item : Approve Variable Remuneration of Directors in the Amount of

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

22 Mar 16

Schindler Holding AG

AGM

4.4

Comments CHF 8.3 Million for Fiscal 2015.

For

Agenda item : Approve Variable Remuneration of Executive Committee in the Amount of CHF 11 Million for Fiscal 2015.

22 Mar 16

Schindler Holding AG

AGM

5

For

Agenda item : Amend Articles Re: Nationality of Board Chairman and Board

22 Mar 16

Schindler Holding AG

AGM

6.1

For

Agenda item : Elect Silvio Napoli as Director.

22 Mar 16

Schindler Holding AG

AGM

6.2

For

Agenda item : Re-elect Alfred Schindler as Director.

22 Mar 16

Schindler Holding AG

AGM

6.3.1

For

Agenda item : Re-elect Pius Baschera as Director and Member of the

22 Mar 16

Schindler Holding AG

AGM

6.3.2

For

Size.

Remuneration Committee. Agenda item : Re-elect Rudolf Fischer as Director and Member of the Remuneration Committee. 22 Mar 16

Schindler Holding AG

AGM

6.3.3

For

Agenda item : Re-elect Rolf Schweiger as Director and Member of the

22 Mar 16

Schindler Holding AG

AGM

6.4.1

For

Agenda item : Re-elect Monika Buetler as Director.

22 Mar 16

Schindler Holding AG

AGM

6.4.2

For

Agenda item : Re-elect Carole Vischer as Director.

Remuneration Committee.

22 Mar 16

Schindler Holding AG

AGM

6.4.3

For

Agenda item : Re-elect Luc Bonnard as Director.

22 Mar 16

Schindler Holding AG

AGM

6.4.4

For

Agenda item : Re-elect Patrice Bula as Director.

22 Mar 16

Schindler Holding AG

AGM

6.4.5

For

Agenda item : Re-elect Karl Hofstetter as Director.

22 Mar 16

Schindler Holding AG

AGM

6.4.6

For

Agenda item : Re-elect Anthony Nightingale as Director.

22 Mar 16

Schindler Holding AG

AGM

6.4.7

For

Agenda item : Re-elect Klaus Wellershoff as Director.

22 Mar 16

Schindler Holding AG

AGM

6.5

For

Agenda item : Designate Adrian von Segesser as Independent Proxy.

22 Mar 16

Schindler Holding AG

AGM

6.6

For

Agenda item : Ratify Ernst & Young AG as Auditors.

22 Mar 16

Schindler Holding AG

AGM

7.1

For

Agenda item : Approve CHF 98,435 Reduction in Share Capital via

22 Mar 16

Schindler Holding AG

AGM

7.2

For

22 Mar 16

Schindler Holding AG

AGM

8

Opposed

30 Mar 16

Andritz AG

AGM

2

For

Agenda item : Approve Allocation of Income.

30 Mar 16

Andritz AG

AGM

3

For

Agenda item : Approve Discharge of Management Board.

30 Mar 16

Andritz AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board.

Cancellation of Repurchased Shares. Agenda item : Approve CHF 351,948 Reduction in Share Capital via Cancellation of Repurchased Participation Certificates. Agenda item : Transact Other Business (Voting). UBS note : Lack of details available regarding this proposal.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Andritz AG

AGM

5

For

Agenda item : Approve Remuneration of Supervisory Board Members.

30 Mar 16

Andritz AG

AGM

6

For

Agenda item : Ratify Auditors.

30 Mar 16

Andritz AG

AGM

7.1

For

Agenda item : Elect Supervisory Board Member.

30 Mar 16

Andritz AG

AGM

7.2

For

Agenda item : Elect Supervisory Board Member.

30 Mar 16

Andritz AG

AGM

8

For

Agenda item : Authorise Share Repurchase Program and Reissuance or

30 Mar 16

Andritz AG

AGM

9

For

Agenda item : Approve Stock Option Plan for Key Employees.

30 Mar 16

Banco de Sabadell S.A

AGM

1

For

Agenda item : Approve Consolidated and Standalone Financial Statements,

30 Mar 16

Banco de Sabadell S.A

AGM

2

For

Cancellation of Repurchased Shares.

Allocation of Income, and Discharge Directors. Agenda item : Approve a Capitalization Reserve Pursuant to Act 27/2014 of 27 November on Corporate Income Tax, Charged to Voluntary Reserves. 30 Mar 16

Banco de Sabadell S.A

AGM

3.1

For

30 Mar 16

Banco de Sabadell S.A

AGM

3.2

For

Agenda item : Authorise Capitalization of Reserves for Scrip Dividends. Agenda item : Approve Special Stock Dividends Funded by Treasury Shares.

30 Mar 16

Banco de Sabadell S.A

AGM

4.1

Opposed

Agenda item : Amend Articles Re: Right of Attendance of the General Shareholders Meeting. UBS note : Not in shareholders' interests.

30 Mar 16

Banco de Sabadell S.A

AGM

4.2

For

Agenda item : Amend Articles Re: Technical Adjustments.

30 Mar 16

Banco de Sabadell S.A

AGM

4.3

Opposed

Agenda item : Amend Articles Re: Update to Applicable Legal Provisions. UBS note : Not in shareholders' interests.

30 Mar 16

Banco de Sabadell S.A

AGM

4.4

Opposed

Agenda item : Approve Restated Articles of Association.

30 Mar 16

Banco de Sabadell S.A

AGM

5

Opposed

Agenda item : Amend Articles and Approve Restated General Meeting

UBS note : Not in shareholders' interests. Regulations. UBS note : Not in shareholders' interests. 30 Mar 16

Banco de Sabadell S.A

AGM

7

Opposed

Agenda item : Increase in Number of Designated Group Members Re: Maximum Variable Compensation Ratio. UBS note : Lack of details available regarding this proposal.

30 Mar 16

Banco de Sabadell S.A

AGM

8

For

Agenda item : Approve Share Appreciation Rights Plan.

30 Mar 16

Banco de Sabadell S.A

AGM

9

Opposed

Agenda item : Authorise Increase in Capital up to 50 Percent via Issuance of Equity or Equity-Linked Securities, Excluding Pre-emptive Rights of up to 20 Percent.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

30 Mar 16

Banco de Sabadell S.A

AGM

10

Opposed

Agenda item : Authorise Issuance of Convertible Bonds, Debentures, Warrants, and Other Debt Securities up to EUR 2 Billion with Exclusion of Pre-emptive Rights up to 20 Percent of Capital. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

30 Mar 16

Banco de Sabadell S.A

AGM

11

For

30 Mar 16

Banco de Sabadell S.A

AGM

12

Opposed

Agenda item : Authorise Share Repurchase and Capital Reduction via Amortization of Repurchased Shares. Agenda item : Approve Remuneration Policy. UBS note : Transparency in compensation is desired.

30 Mar 16

Banco de Sabadell S.A

AGM

13

Opposed

Agenda item : Advisory Vote on Remuneration Report.

30 Mar 16

Banco de Sabadell S.A

AGM

14

For

Agenda item : Renew Appointment of PricewaterhouseCoopers as Auditor.

30 Mar 16

Banco de Sabadell S.A

AGM

15

For

Agenda item : Authorise Board to Ratify and Execute Approved Resolutions.

30 Mar 16

DKSH Holding AG

AGM

1

For

Agenda item : Accept Financial Statements and Statutory Reports.

30 Mar 16

DKSH Holding AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of CHF 1.30 per

30 Mar 16

DKSH Holding AG

AGM

3

For

Agenda item : Approve Discharge of Board and Senior Management.

30 Mar 16

DKSH Holding AG

AGM

4.1

For

Agenda item : Approve Remuneration of Directors in the Amount of CHF 2.6

30 Mar 16

DKSH Holding AG

AGM

4.2

For

UBS note : Transparency in compensation is desired.

Share.

Million. Agenda item : Approve Remuneration of Executive Committee in the Amount of CHF 16.5 Million. 30 Mar 16

DKSH Holding AG

AGM

5.1.1

For

Agenda item : Elect Adrian Keller as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.2

For

Agenda item : Elect Rainer-Marc Frey as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.3

For

Agenda item : Elect Frank Gulich as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.4

For

Agenda item : Elect David Kemenetzky as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.5

For

Agenda item : Elect Andreas Keller as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.6

Opposed

Agenda item : Elect Robert Peugeot as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.7

For

UBS note : Nominee currently sits on an excessive number of boards. Agenda item : Elect Theo Siegert as Director.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

DKSH Holding AG

AGM

5.1.8

For

Agenda item : Elect Hans Tanner as Director.

30 Mar 16

DKSH Holding AG

AGM

5.1.9

For

Agenda item : Elect Joerg Wolle as Director.

30 Mar 16

DKSH Holding AG

AGM

5.2

For

Agenda item : Elect Adrian Keller as Board Chairman.

30 Mar 16

DKSH Holding AG

AGM

5.3.1

For

Agenda item : Appoint Andreas Keller as Member of the Compensation

30 Mar 16

DKSH Holding AG

AGM

5.3.2

For

Committee. Agenda item : Appoint Frank Gulich as Member of the Compensation Committee. 30 Mar 16

DKSH Holding AG

AGM

5.3.3

Opposed

Agenda item : Appoint Robert Peugeot as Member of the Compensation Committee. UBS note : Nominee currently sits on an excessive number of boards.

30 Mar 16

DKSH Holding AG

AGM

5.4

For

Agenda item : Ratify Ernst & Young AG as Auditors.

30 Mar 16

DKSH Holding AG

AGM

5.5

For

Agenda item : Designate Ernst Widmer as Independent Proxy.

30 Mar 16

DKSH Holding AG

AGM

6

Opposed

Agenda item : Transact Other Business (Voting).

30 Mar 16

Neste OYJ

AGM

3

For

Agenda item : Designate Inspector or Shareholder Representative(s) of

30 Mar 16

Neste OYJ

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

30 Mar 16

Neste OYJ

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

30 Mar 16

Neste OYJ

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

30 Mar 16

Neste OYJ

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.00 Per

30 Mar 16

Neste OYJ

AGM

9

For

Agenda item : Approve Discharge of Board and President.

30 Mar 16

Neste OYJ

AGM

10

For

Agenda item : Approve Remuneration of Directors in the Amount of EUR

UBS note : Lack of details available regarding this proposal. Minutes of Meeting.

Share.

66,000 for Chairman, EUR 49,200 for Vice Chairman, and EUR 35,400 for Other Directors; Approve Attendance Fees for Board and Committee Work. 30 Mar 16

Neste OYJ

AGM

11

For

Agenda item : Fix Number of Directors at Seven.

30 Mar 16

Neste OYJ

AGM

12

For

Agenda item : Reeelct Jorma Eloranta, Maija-Liisa Friman, Laura Raitio, Jean-Baptiste Renard, Willem Schoeber, Kirsi Sormunen, and Marco Wiren as Directors.

30 Mar 16

Neste OYJ

AGM

13

For

Agenda item : Approve Remuneration of Auditors.

30 Mar 16

Neste OYJ

AGM

14

For

Agenda item : Ratify PricewaterhouseCoopers Oy as Auditors.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Neste OYJ

AGM

15

For

Agenda item : Approve Charitable Donations.

30 Mar 16

Zurich Insurance Group AG

AGM

1.1

For

Agenda item : Accept Financial Statements and Statutory Reports.

30 Mar 16

Zurich Insurance Group AG

AGM

1.2

For

Agenda item : Approve Remuneration Report.

30 Mar 16

Zurich Insurance Group AG

AGM

2.1

For

Agenda item : Approve Allocation of Income.

30 Mar 16

Zurich Insurance Group AG

AGM

2.2

For

Agenda item : Approve Dividends of CHF 17.00 per Share from Capital

30 Mar 16

Zurich Insurance Group AG

AGM

3

For

30 Mar 16

Zurich Insurance Group AG

AGM

4.1a

Opposed

Contribution Reserves. Agenda item : Approve Discharge of Board and Senior Management. Agenda item : Re-elect Tom de Swaan as Director and Board Chairman. UBS note : The election of this nominee to the board would not serve the interests of long term investors. 30 Mar 16

Zurich Insurance Group AG

AGM

4.1b

For

Agenda item : Re-elect Joan Amble as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1c

For

Agenda item : Re-elect Susan Bies as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1d

For

Agenda item : Re-elect Alison Carnwath as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1e

For

Agenda item : Re-elect Christoph Franz as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1f

For

Agenda item : Re-elect Fred Kindle as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1g

For

Agenda item : Re-elect Monica Maechler as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1h

For

Agenda item : Re-elect Kishore Mahbubani as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1i

For

Agenda item : Elect Jeffrey Hayman as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.1j

For

Agenda item : Elect David Nish as Director.

30 Mar 16

Zurich Insurance Group AG

AGM

4.2.1

Opposed

Agenda item : Appoint Tom de Swaan as Member of the Compensation Committee. UBS note : Not in shareholders' interests.

30 Mar 16

Zurich Insurance Group AG

AGM

4.2.2

For

Agenda item : Appoint Christoph Franz as Member of the Compensation

30 Mar 16

Zurich Insurance Group AG

AGM

4.2.3

For

30 Mar 16

Zurich Insurance Group AG

AGM

4.2.4

For

30 Mar 16

Zurich Insurance Group AG

AGM

4.3

For

30 Mar 16

Zurich Insurance Group AG

AGM

4.4

For

Agenda item : Ratify PricewaterhouseCoopers AG as Auditors.

30 Mar 16

Zurich Insurance Group AG

AGM

5.1

For

Agenda item : Approve Remuneration of Board of Directors Until 2017 AGM

Committee. Agenda item : Appoint Fred Kindle as Member of the Compensation Committee. Agenda item : Appoint Kishore Mahbubani as Member of the Compensation Committee. Agenda item : Designate Andreas Keller as Independent Proxy.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

30 Mar 16

Zurich Insurance Group AG

AGM

5.2

Comments in the Amount of CHF 4.7 Million.

For

Agenda item : Approve Remuneration of Executive Committee for 2017 Fiscal Year in the Amount of CHF 74.3 Million.

30 Mar 16

Zurich Insurance Group AG

AGM

6

For

30 Mar 16

Zurich Insurance Group AG

AGM

7

Opposed

Agenda item : Extend Duration of Existing CHF 1 Million Pool of Capital without Pre-emptive Rights. Agenda item : Transact Other Business (Voting). UBS note : Lack of details available regarding this proposal.

31 Mar 16

Beiersdorf AG

AGM

2

For

Agenda item : Approve Allocation of Income and Dividends of EUR 0.70 per

31 Mar 16

Beiersdorf AG

AGM

3

For

Agenda item : Approve Discharge of Management Board for Fiscal 2015.

31 Mar 16

Beiersdorf AG

AGM

4

For

Agenda item : Approve Discharge of Supervisory Board for Fiscal 2015.

31 Mar 16

Beiersdorf AG

AGM

5

For

Agenda item : Ratify Ernst & Young GmbH as Auditors for Fiscal 2016.

31 Mar 16

Beiersdorf AG

AGM

6

Opposed

Share.

Agenda item : Re-elect Frederic Pflanz to the Supervisory Board. UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

31 Mar 16

Elisa Corporation

AGM

3

For

Agenda item : Designate Inspector or Shareholder Representative(s) of

31 Mar 16

Elisa Corporation

AGM

4

For

Agenda item : Acknowledge Proper Convening of Meeting.

31 Mar 16

Elisa Corporation

AGM

5

For

Agenda item : Prepare and Approve List of Shareholders.

31 Mar 16

Elisa Corporation

AGM

7

For

Agenda item : Accept Financial Statements and Statutory Reports.

31 Mar 16

Elisa Corporation

AGM

8

For

Agenda item : Approve Allocation of Income and Dividends of EUR 1.40 Per

31 Mar 16

Elisa Corporation

AGM

9

For

Agenda item : Approve Discharge of Board and President.

31 Mar 16

Elisa Corporation

AGM

10

For

Agenda item : Approve Monthly Remuneration of Directors in the Amount of

Minutes of Meeting.

Share.

EUR 9,000 for Chairman, EUR 6,000 for Vice Chairman, and EUR 5,000 for Other Directors; Approve Meeting Fees; Approve Remuneration for Committee Work. 31 Mar 16

Elisa Corporation

AGM

11

For

Agenda item : Fix Number of Directors at Seven.

31 Mar 16

Elisa Corporation

AGM

12

For

Agenda item : Re-elect Raimo Lind, Petteri Koponen, Leena Niemisto, Seija Turunen, Jaakko Uotila, Mika Vehvilainen as Directors; Elect Clarisse Berggardh as New Director.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

31 Mar 16

Elisa Corporation

AGM

13

Opposed

Comments Agenda item : Approve Remuneration of Auditors. UBS note : Auditors have received excessive fees for non-audit services without valid justification.

31 Mar 16

Elisa Corporation

AGM

14

For

31 Mar 16

Elisa Corporation

AGM

15

Opposed

Agenda item : Fix Number of Auditors at One. Agenda item : Ratify KPMG as Auditors. UBS note : Auditors have received excessive fees for non-audit services without valid justification.

31 Mar 16

Elisa Corporation

AGM

16

For

Agenda item : Authorise Share Repurchase Program.

31 Mar 16

Elisa Corporation

AGM

17

For

Agenda item : Approve Issuance of up to 15 Million Shares without

31 Mar 16

Elisa Corporation

AGM

18

For

Agenda item : Amend Corporate Purpose. Agenda item : Accept Financial Statements and Statutory Reports.

Pre-emptive Rights. 31 Mar 16

PSP Swiss Property AG

AGM

1

For

31 Mar 16

PSP Swiss Property AG

AGM

2

For

Agenda item : Approve Remuneration Report.

31 Mar 16

PSP Swiss Property AG

AGM

3

For

Agenda item : Approve Allocation of Income and Dividends of CHF 1.50 per Share.

31 Mar 16

PSP Swiss Property AG

AGM

4

For

Agenda item : Approve Dividends of CHF 1.80 per Share from Capital

31 Mar 16

PSP Swiss Property AG

AGM

5

For

Agenda item : Approve Discharge of Board and Senior Management.

31 Mar 16

PSP Swiss Property AG

AGM

6.1

For

Agenda item : Re-elect Guenther Gose as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.2

For

Agenda item : Re-elect Luciano Gabriel as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.3

For

Agenda item : Re-elect Adrian Dudle as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.4

For

Agenda item : Re-elect Peter Forstmoser as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.5

For

Agenda item : Re-elect Nathan Hetz as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.6

For

Agenda item : Re-elect Josef Stadler as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.7

For

Agenda item : Re-elect Aviram Wertheim as Director.

31 Mar 16

PSP Swiss Property AG

AGM

6.8

For

Agenda item : Elect Corinne Denzler as Director.

31 Mar 16

PSP Swiss Property AG

AGM

7

For

Agenda item : Re-elect Guenther Gose as Board Chairman.

31 Mar 16

PSP Swiss Property AG

AGM

8.1

For

Agenda item : Appoint Peter Forstmoser as Member of the Compensation

31 Mar 16

PSP Swiss Property AG

AGM

8.2

For

Contribution Reserves.

Committee. Agenda item : Appoint Nathan Hetz as Member of the Compensation Committee.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

31 Mar 16

PSP Swiss Property AG

AGM

8.3

For

Agenda item : Appoint Josef Stadler as Member of the Compensation

31 Mar 16

PSP Swiss Property AG

AGM

8.4

For

31 Mar 16

PSP Swiss Property AG

AGM

9

For

31 Mar 16

PSP Swiss Property AG

AGM

10

For

31 Mar 16

PSP Swiss Property AG

AGM

11

For

Agenda item : Ratify PricewaterhouseCoopers AG as Auditors.

31 Mar 16

PSP Swiss Property AG

AGM

12

For

Agenda item : Designate Proxy Voting Services GmbH as Independent Proxy.

31 Mar 16

PSP Swiss Property AG

AGM

13

Opposed

Agenda item : Transact Other Business (Voting).

31 Mar 16

Randstad Holding NV

AGM

2.c

For

Agenda item : Adopt Financial Statements for 2015.

31 Mar 16

Randstad Holding NV

AGM

2.e

For

Agenda item : Approve Dividends of EUR 1.68 Per Share.

31 Mar 16

Randstad Holding NV

AGM

3.a

For

Agenda item : Approve Discharge of Management Board.

31 Mar 16

Randstad Holding NV

AGM

3.b

For

Agenda item : Approve Discharge of Supervisory Board.

31 Mar 16

Randstad Holding NV

AGM

4.a

For

Agenda item : Re-elect Linda Galipeau to Management Board.

31 Mar 16

Randstad Holding NV

AGM

4.b

For

Agenda item : Re-elect FranÃ§ois BÃ©harel to Management Board.

31 Mar 16

Randstad Holding NV

AGM

5.a

For

Agenda item : Re-elect Henri Giscard d'Estaing to Supervisory Board.

Committee. Agenda item : Appoint Adrian Dudle as Member of the Compensation Committee. Agenda item : Approve Remuneration of Board of Directors in the Amount of CHF 1 Million. Agenda item : Approve Remuneration of Executive Committee in the Amount of CHF 5.7 Million.

UBS note : Lack of details available regarding this proposal.

31 Mar 16

Randstad Holding NV

AGM

5.b

For

Agenda item : Re-elect Wout Dekker to Supervisory Board.

31 Mar 16

Randstad Holding NV

AGM

6.a

For

Agenda item : Grant Board Authority to Issue Shares Up To 3 Percent of

31 Mar 16

Randstad Holding NV

AGM

6.b

For

31 Mar 16

Randstad Holding NV

AGM

6.c

For

31 Mar 16

Randstad Holding NV

AGM

6.d

For

31 Mar 16

Randstad Holding NV

AGM

7

For

Issued Capital. Agenda item : Authorise Board to Exclude Pre-emptive Rights from Share Issuances. Agenda item : Authorise Repurchase of Up to 10 Percent of Issued Share Capital. Agenda item : Authorise Cancel Repurchase of Up to 10 Percent of Issued Share Capital under Item 6.c. Agenda item : Proposal to Reappoint Sjoerd van Keulen as Board Member of Foundation Stichting Administratiekantoor Preferente Aandelen Randstad Holding.

Corporate governance - European (ex-UK) proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

31 Mar 16

Randstad Holding NV

AGM

8

Agenda item : Ratify Deloitte Accountants BV as Auditors.

For

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

27 Jan 16

H.I.S. Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 22.

27 Jan 16

H.I.S. Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Amend Business Lines - Adopt Board

Comments

Structure with Audit Committee - Increase Maximum Board Size - Indemnify Directors - Authorise Board to Determine Income Allocation. 27 Jan 16

H.I.S. Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director Sawada, Hideo.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.10

For

Agenda item : Elect Director Oda, Masayuki.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director Hirabayashi, Akira.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director Kusuhara, Narimoto.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.4

For

Agenda item : Elect Director Nakamori, Tatsuya.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.5

For

Agenda item : Elect Director Nakatani, Shigeru.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.6

For

Agenda item : Elect Director Takagi, Kiyoshi.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.7

For

Agenda item : Elect Director Namekata, Kazumasa.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.8

For

Agenda item : Elect Director Sakaguchi, Katsuhiko.

27 Jan 16

H.I.S. Co. Ltd.

AGM

3.9

For

Agenda item : Elect Director Yamanobe, Atsushi.

27 Jan 16

H.I.S. Co. Ltd.

AGM

4.1

For

Agenda item : Elect Director and Audit Committee Member Hirata, Masahiko.

27 Jan 16

H.I.S. Co. Ltd.

AGM

4.2

For

Agenda item : Elect Director and Audit Committee Member Umeda,

27 Jan 16

H.I.S. Co. Ltd.

AGM

4.3

For

Agenda item : Elect Director and Audit Committee Member Sekita, Sonoko.

27 Jan 16

H.I.S. Co. Ltd.

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who

27 Jan 16

H.I.S. Co. Ltd.

AGM

6

For

27 Jan 16

H.I.S. Co. Ltd.

AGM

7

For

27 Jan 16

H.I.S. Co. Ltd.

AGM

8

Opposed

Tsunekazu.

Are Not Audit Committee Members. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members. Agenda item : Approve Annual Bonus Payment to Directors and Statutory Auditors. Agenda item : Approve Retirement Bonus Payment for Director and Statutory Auditors. UBS note : Transparency in compensation is desired. 27 Jan 16

Park 24 Co.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 55.

27 Jan 16

Park 24 Co.

AGM

2

For

Agenda item : Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Increase

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

27 Jan 16

Park 24 Co.

AGM

3.1

For

Agenda item : Elect Director Nishikawa, Koichi.

27 Jan 16

Park 24 Co.

AGM

3.2

For

Agenda item : Elect Director Sasaki, Kenichi.

27 Jan 16

Park 24 Co.

AGM

3.3

For

Agenda item : Elect Director Kawakami, Norifumi.

27 Jan 16

Park 24 Co.

AGM

3.4

For

Agenda item : Elect Director Kawasaki, Keisuke.

27 Jan 16

Park 24 Co.

AGM

3.5

For

Agenda item : Elect Director Oura, Yoshimitsu.

27 Jan 16

Park 24 Co.

AGM

4.1

For

Agenda item : Elect Director and Audit Committee Member Uenishi, Seishi.

27 Jan 16

Park 24 Co.

AGM

4.2

For

Agenda item : Elect Director and Audit Committee Member Kano, Kyosuke.

27 Jan 16

Park 24 Co.

AGM

4.3

For

Agenda item : Elect Director and Audit Committee Member Takeda,

27 Jan 16

Park 24 Co.

AGM

5

For

27 Jan 16

Park 24 Co.

AGM

6

For

20 Feb 16

OSG Corp. (6136)

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 20.

20 Feb 16

OSG Corp. (6136)

AGM

2

For

Agenda item : Amend Articles to Amend Business Lines - Adopt Board

Comments Maximum Board Size - Indemnify Directors.

Tsunekazu. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Not Audit Committee Members. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members.

Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Increase Maximum Board Size Indemnify Directors. 20 Feb 16

OSG Corp. (6136)

AGM

3.1

For

Agenda item : Elect Director Osawa, Teruhide.

20 Feb 16

OSG Corp. (6136)

AGM

3.10

For

Agenda item : Elect Director Osawa, Hideaki.

20 Feb 16

OSG Corp. (6136)

AGM

3.2

For

Agenda item : Elect Director Ishikawa, Norio.

20 Feb 16

OSG Corp. (6136)

AGM

3.3

For

Agenda item : Elect Director Sakurai, Masatoshi.

20 Feb 16

OSG Corp. (6136)

AGM

3.4

For

Agenda item : Elect Director Sonobe, Koji.

20 Feb 16

OSG Corp. (6136)

AGM

3.5

For

Agenda item : Elect Director Endo, Toru.

20 Feb 16

OSG Corp. (6136)

AGM

3.6

For

Agenda item : Elect Director Osawa, Nobuaki.

20 Feb 16

OSG Corp. (6136)

AGM

3.7

For

Agenda item : Elect Director Hayasaka, Tetsuro.

20 Feb 16

OSG Corp. (6136)

AGM

3.8

For

Agenda item : Elect Director Osawa, Jiro.

20 Feb 16

OSG Corp. (6136)

AGM

3.9

For

Agenda item : Elect Director Yoshizaki, Toshitaka.

20 Feb 16

OSG Corp. (6136)

AGM

4.1

Opposed

Agenda item : Elect Director and Audit Committee Member Nakagawa, Takeo.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

20 Feb 16

OSG Corp. (6136)

AGM

4.2

Opposed

Agenda item : Elect Director and Audit Committee Member Osawa, Gohei. UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

20 Feb 16

OSG Corp. (6136)

AGM

4.3

Opposed

Agenda item : Elect Director and Audit Committee Member Kato, Koji. UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

20 Feb 16

OSG Corp. (6136)

AGM

4.4

For

20 Feb 16

OSG Corp. (6136)

AGM

4.5

Opposed

Agenda item : Elect Director and Audit Committee Member Omori, Hiroyuki. Agenda item : Elect Director and Audit Committee Member Ono, Kyoshiro. UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

20 Feb 16

OSG Corp. (6136)

AGM

4.6

For

Agenda item : Elect Director and Audit Committee Member Sakaki, Yoshiyuki.

20 Feb 16

OSG Corp. (6136)

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Not Audit Committee Members.

20 Feb 16

OSG Corp. (6136)

AGM

6

For

20 Feb 16

OSG Corp. (6136)

AGM

7

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members. Agenda item : Approve Annual Bonus Payment to Directors and Statutory Auditors.

26 Feb 16

Kewpie Corp.

AGM

1

For

Agenda item : Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings.

26 Feb 16

Kewpie Corp.

AGM

2.1

For

Agenda item : Elect Director Miyake, Minesaburo.

26 Feb 16

Kewpie Corp.

AGM

2.10

For

Agenda item : Elect Director Saito, Kengo.

26 Feb 16

Kewpie Corp.

AGM

2.11

For

Agenda item : Elect Director Hemmi, Yoshinori.

26 Feb 16

Kewpie Corp.

AGM

2.12

For

Agenda item : Elect Director Uchida, Kazunari.

26 Feb 16

Kewpie Corp.

AGM

2.13

For

Agenda item : Elect Director Urushi, Shihoko.

26 Feb 16

Kewpie Corp.

AGM

2.2

For

Agenda item : Elect Director Nakashima, Amane.

26 Feb 16

Kewpie Corp.

AGM

2.3

For

Agenda item : Elect Director Katsuyama, Tadaaki.

26 Feb 16

Kewpie Corp.

AGM

2.4

For

Agenda item : Elect Director Wada, Yoshiaki.

26 Feb 16

Kewpie Corp.

AGM

2.5

For

Agenda item : Elect Director Furutachi, Masafumi.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

26 Feb 16

Kewpie Corp.

AGM

2.6

For

Agenda item : Elect Director Hyodo, Toru.

26 Feb 16

Kewpie Corp.

AGM

2.7

For

Agenda item : Elect Director Takemura, Shigeki.

26 Feb 16

Kewpie Corp.

AGM

2.8

For

Agenda item : Elect Director Inoue, Nobuo.

26 Feb 16

Kewpie Corp.

AGM

2.9

For

Agenda item : Elect Director Chonan, Osamu.

26 Feb 16

Kewpie Corp.

AGM

3

For

Agenda item : Appoint Statutory Auditor Tarui, Sumio.

26 Feb 16

Kewpie Corp.

AGM

4

For

Agenda item : Approve Annual Bonus Payment to Directors.

23 Mar 16

Coca-Cola West Co Ltd

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 21.

23 Mar 16

Coca-Cola West Co Ltd

AGM

2

For

Agenda item : Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Increase Maximum Board Size - Indemnify Directors.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.1

For

Agenda item : Elect Director Yoshimatsu, Tamio.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.10

For

Agenda item : Elect Director Vikas Tiku.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.2

For

Agenda item : Elect Director Shibata, Nobuo.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.3

For

Agenda item : Elect Director Takemori, Hideharu.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.4

For

Agenda item : Elect Director Fukami, Toshio.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.5

For

Agenda item : Elect Director Okamoto, Shigeki.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.6

For

Agenda item : Elect Director Fujiwara, Yoshiki.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.7

For

Agenda item : Elect Director Koga, Yasunori.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.8

For

Agenda item : Elect Director Hombo, Shunichiro.

23 Mar 16

Coca-Cola West Co Ltd

AGM

3.9

For

Agenda item : Elect Director Miura, Zenji.

23 Mar 16

Coca-Cola West Co Ltd

AGM

4.1

For

Agenda item : Elect Director and Audit Committee Member Miyaki, Hiroyoshi.

23 Mar 16

Coca-Cola West Co Ltd

AGM

4.2

For

Agenda item : Elect Director and Audit Committee Member Taguchi,

23 Mar 16

Coca-Cola West Co Ltd

AGM

4.3

For

Agenda item : Elect Director and Audit Committee Member Ichiki, Gotaro.

23 Mar 16

Coca-Cola West Co Ltd

AGM

4.4

For

Agenda item : Elect Director and Audit Committee Member Isoyama, Seiji.

23 Mar 16

Coca-Cola West Co Ltd

AGM

4.5

For

Agenda item : Elect Director and Audit Committee Member Ogami, Tomoko.

23 Mar 16

Coca-Cola West Co Ltd

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who

23 Mar 16

Coca-Cola West Co Ltd

AGM

6

For

Tadanori.

Are Not Audit Committee Members. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

23 Mar 16

Hulic Co., Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 10.

23 Mar 16

Hulic Co., Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

Comments

Auditors. 23 Mar 16

Hulic Co., Ltd.

AGM

3.1

For

Agenda item : Elect Director Nishiura, Saburo.

23 Mar 16

Hulic Co., Ltd.

AGM

3.10

For

Agenda item : Elect Director Takahashi, Kaoru.

23 Mar 16

Hulic Co., Ltd.

AGM

3.2

For

Agenda item : Elect Director Yoshidome, Manabu.

23 Mar 16

Hulic Co., Ltd.

AGM

3.3

For

Agenda item : Elect Director Shiga, Hidehiro.

23 Mar 16

Hulic Co., Ltd.

AGM

3.4

For

Agenda item : Elect Director Furuichi, Shinji.

23 Mar 16

Hulic Co., Ltd.

AGM

3.5

For

Agenda item : Elect Director Kobayashi, Hajime.

23 Mar 16

Hulic Co., Ltd.

AGM

3.6

For

Agenda item : Elect Director Maeda, Takaya.

23 Mar 16

Hulic Co., Ltd.

AGM

3.7

For

Agenda item : Elect Director Miyajima, Tsukasa.

23 Mar 16

Hulic Co., Ltd.

AGM

3.8

For

Agenda item : Elect Director Yamada, Hideo.

23 Mar 16

Hulic Co., Ltd.

AGM

3.9

For

Agenda item : Elect Director Fukushima, Atsuko.

23 Mar 16

Hulic Co., Ltd.

AGM

4.1

Opposed

Agenda item : Appoint Statutory Auditor Nezu, Koichi. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

23 Mar 16

Hulic Co., Ltd.

AGM

4.2

For

23 Mar 16

Hulic Co., Ltd.

AGM

4.3

Opposed

Agenda item : Appoint Statutory Auditor Kobayashi, Nobuyuki. Agenda item : Appoint Statutory Auditor Sekiguchi, Kenichi. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

23 Mar 16

Hulic Co., Ltd.

AGM

5

Opposed

Agenda item : Appoint Alternate Statutory Auditor Ohara, Hisanori. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

23 Mar 16

Hulic Co., Ltd.

AGM

6

For

23 Mar 16

Japan Tobacco Inc

AGM

1

For

Agenda item : Approve Equity Compensation Plan. Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 64.

23 Mar 16

Japan Tobacco Inc

AGM

2

For

Agenda item : Amend Articles to Clarify Director Authority on Shareholder Meetings - Clarify Director Authority on Board Meetings - Indemnify Directors Indemnify Statutory Auditors.

23 Mar 16

Japan Tobacco Inc

AGM

3.1

For

Agenda item : Elect Director Tango, Yasutake.

23 Mar 16

Japan Tobacco Inc

AGM

3.2

For

Agenda item : Elect Director Koizumi, Mitsuomi.

23 Mar 16

Japan Tobacco Inc

AGM

3.3

For

Agenda item : Elect Director Shingai, Yasushi.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

23 Mar 16

Japan Tobacco Inc

AGM

3.4

For

Agenda item : Elect Director Iwai, Mutsuo.

23 Mar 16

Japan Tobacco Inc

AGM

3.5

For

Agenda item : Elect Director Miyazaki, Hideki.

23 Mar 16

Japan Tobacco Inc

AGM

3.6

For

Agenda item : Elect Director Oka, Motoyuki.

23 Mar 16

Japan Tobacco Inc

AGM

3.7

For

Agenda item : Elect Director Koda, Main.

23 Mar 16

Japan Tobacco Inc

AGM

4

For

Agenda item : Appoint Alternate Statutory Auditor Masaki, Michio.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 26.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

2

For

Agenda item : Amend Articles to Authorise Internet Disclosure of Shareholder

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.1

For

Agenda item : Elect Director Izumiya, Naoki.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.10

For

Agenda item : Elect Director Kosaka, Tatsuro.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.2

For

Agenda item : Elect Director Takahashi, Katsutoshi.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.3

For

Agenda item : Elect Director Okuda, Yoshihide.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.4

For

Agenda item : Elect Director Koji, Akiyoshi.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.5

For

Agenda item : Elect Director Bando, Mariko.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.6

For

Agenda item : Elect Director Tanaka, Naoki.

Meeting Materials - Indemnify Directors - Indemnify Statutory Auditors.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.7

For

Agenda item : Elect Director Kagami, Noboru.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.8

For

Agenda item : Elect Director Hamada, Kenji.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

3.9

For

Agenda item : Elect Director Kitagawa, Ryoichi.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

4

Opposed

Agenda item : Appoint Statutory Auditor Tsunoda, Tetsuo. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

24 Mar 16

Asahi Group Holdings Ltd.

AGM

5

For

Agenda item : Approve Equity Compensation Plan.

24 Mar 16

Bridgestone Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 70.

24 Mar 16

Bridgestone Corp.

AGM

2

For

Agenda item : Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Three Committees - Indemnify Directors.

24 Mar 16

Bridgestone Corp.

AGM

3.1

For

Agenda item : Elect Director Tsuya, Masaaki.

24 Mar 16

Bridgestone Corp.

AGM

3.10

For

Agenda item : Elect Director Terui, Keiko.

24 Mar 16

Bridgestone Corp.

AGM

3.11

For

Agenda item : Elect Director Sasa, Seiichi.

24 Mar 16

Bridgestone Corp.

AGM

3.2

For

Agenda item : Elect Director Nishigai, Kazuhisa.

24 Mar 16

Bridgestone Corp.

AGM

3.3

For

Agenda item : Elect Director Masunaga, Mikio.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

24 Mar 16

Bridgestone Corp.

AGM

3.4

For

Agenda item : Elect Director Togami, Kenichi.

24 Mar 16

Bridgestone Corp.

AGM

3.5

For

Agenda item : Elect Director Tachibana Fukushima, Sakie.

24 Mar 16

Bridgestone Corp.

AGM

3.6

For

Agenda item : Elect Director Scott Trevor Davis.

24 Mar 16

Bridgestone Corp.

AGM

3.7

For

Agenda item : Elect Director Okina, Yuri.

24 Mar 16

Bridgestone Corp.

AGM

3.8

For

Agenda item : Elect Director Masuda, Kenichi.

24 Mar 16

Bridgestone Corp.

AGM

3.9

For

Agenda item : Elect Director Yamamoto, Kenzo.

24 Mar 16

Bridgestone Corp.

AGM

4

For

Agenda item : Approve Annual Bonus.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 32.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director Nagayama, Osamu.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director Ueno, Motoo.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director Kosaka, Tatsuro.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.4

For

Agenda item : Elect Director Itaya, Yoshio.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.5

For

Agenda item : Elect Director Tanaka, Yutaka.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.6

For

Agenda item : Elect Director Ikeda, Yasuo.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.7

Opposed

Agenda item : Elect Director Franz B. Humer.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

3.8

For

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

4.1

Opposed

Auditors.

UBS note : Board meeting attendance not considered satisfactory. Agenda item : Elect Director Sophie Kornowski-Bonnet. Agenda item : Appoint Statutory Auditor Hara, Hisashi. UBS note : Statutory Auditor not independent and the level of independence is insufficient. 24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

4.2

For

Agenda item : Appoint Statutory Auditor Nimura, Takaaki.

24 Mar 16

Chugai Pharmaceutical Co. Ltd.

AGM

5

For

Agenda item : Appoint Alternate Statutory Auditor Fujii, Yasunori.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 13.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Mori, Masahiko.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Kondo, Tatsuo.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Tamai, Hiroaki.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Takayama, Naoshi.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Oishi, Kenji.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Kobayashi, Hirotake.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Elect Director Aoyama, Tojiro.

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.7

For

24 Mar 16

DMG Mori Seiki Co. Ltd.

AGM

2.8

For

Agenda item : Elect Director Nomura, Tsuyoshi.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

1

For

Agenda item : Amend Articles to Change Company Name - Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Increase Maximum Board Size.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.1

For

Agenda item : Elect Director Sakamoto, Seishi.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.10

For

Agenda item : Elect Director Ochiai, Shinichi.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.11

For

Agenda item : Elect Director Furukawa, Yoshio.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.2

For

Agenda item : Elect Director Hongo, Masami.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.3

For

Agenda item : Elect Director Kawai, Hideki.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.4

For

Agenda item : Elect Director Ogawa, Keishiro.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.5

For

Agenda item : Elect Director Maruyama, Satoru.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.6

For

Agenda item : Elect Director Kobayashi, Yasuhiro.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.7

For

Agenda item : Elect Director Ogura, Daizo.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.8

For

Agenda item : Elect Director Ozaki, Tsukasa.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

2.9

For

Agenda item : Elect Director Tsunematsu, Koichi.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

3.1

For

Agenda item : Elect Director and Audit Committee Member Kitagaito, Hiromitsu.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

3.2

For

Agenda item : Elect Director and Audit Committee Member Onoda, Chikai.

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

3.3

For

Agenda item : Elect Director and Audit Committee Member Motomatsu,

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

4.1

For

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

4.2

For

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

5

For

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

6

For

24 Mar 16

Hoshizaki Electric Co., Ltd.

AGM

7

Opposed

Shigeru. Agenda item : Elect Alternate Director and Audit Committee Member Suzuki, Takeshi. Agenda item : Elect Alternate Director and Audit Committee Member Suzuki, Tachio. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Not Audit Committee Members. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members. Agenda item : Approve Director Retirement Bonus.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

1

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY

UBS note : Transparency in compensation is desired. For

12.5. 24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.1

For

Agenda item : Elect Director Hanai, Nobuo.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.2

For

Agenda item : Elect Director Kawai, Hiroyuki.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.3

For

Agenda item : Elect Director Tachibana, Kazuyoshi.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.4

For

Agenda item : Elect Director Mikayama, Toshifumi.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.5

For

Agenda item : Elect Director Sato, Yoichi.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.6

For

Agenda item : Elect Director Ito, Akihiro.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.7

For

Agenda item : Elect Director Nishikawa, Koichiro.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

3.8

For

Agenda item : Elect Director Leibowitz, Yoshiko.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

4

Opposed

Auditors.

Agenda item : Appoint Statutory Auditor Shimizu, Akira. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

24 Mar 16

Kyowa Hakko Kirin Co Ltd

AGM

5

Opposed

Agenda item : Approve Deep Discount Stock Option Plan.

24 Mar 16

Nabtesco Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 22.

24 Mar 16

Nabtesco Corp.

AGM

2.1

For

Agenda item : Elect Director Kotani, Kazuaki.

24 Mar 16

Nabtesco Corp.

AGM

2.10

For

Agenda item : Elect Director Yamazaki, Naoko.

24 Mar 16

Nabtesco Corp.

AGM

2.2

For

Agenda item : Elect Director Osada, Nobutaka.

24 Mar 16

Nabtesco Corp.

AGM

2.3

For

Agenda item : Elect Director Teramoto, Katsuhiro.

24 Mar 16

Nabtesco Corp.

AGM

2.4

For

Agenda item : Elect Director Sakai, Hiroaki.

24 Mar 16

Nabtesco Corp.

AGM

2.5

For

Agenda item : Elect Director Yoshikawa, Toshio.

24 Mar 16

Nabtesco Corp.

AGM

2.6

For

Agenda item : Elect Director Hashimoto, Goro.

24 Mar 16

Nabtesco Corp.

AGM

2.7

For

Agenda item : Elect Director Hakoda, Daisuke.

24 Mar 16

Nabtesco Corp.

AGM

2.8

For

Agenda item : Elect Director Fujiwara, Yutaka.

24 Mar 16

Nabtesco Corp.

AGM

2.9

For

Agenda item : Elect Director Uchida, Norio.

24 Mar 16

Nabtesco Corp.

AGM

3.1

For

Agenda item : Appoint Statutory Auditor Ioku, Kensuke.

24 Mar 16

Nabtesco Corp.

AGM

3.2

For

Agenda item : Appoint Statutory Auditor Sasaki, Zenzo.

UBS note : The vesting conditions are inappropriate.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

24 Mar 16

Nabtesco Corp.

AGM

3.3

For

Agenda item : Appoint Statutory Auditor Nagasaka, Takemi.

25 Mar 16

Asics Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY

Comments

23.5. 25 Mar 16

Asics Corp.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

25 Mar 16

Asics Corp.

AGM

3.1

For

Agenda item : Elect Director Oyama, Motoi.

25 Mar 16

Asics Corp.

AGM

3.2

For

Agenda item : Elect Director Kato, Katsumi.

25 Mar 16

Asics Corp.

AGM

3.3

For

Agenda item : Elect Director Kato, Isao.

25 Mar 16

Asics Corp.

AGM

3.4

For

Agenda item : Elect Director Nishimae, Manabu.

25 Mar 16

Asics Corp.

AGM

3.5

For

Agenda item : Elect Director Tanaka, Katsuro.

25 Mar 16

Asics Corp.

AGM

3.6

For

Agenda item : Elect Director Kajiwara, Kenji.

25 Mar 16

Asics Corp.

AGM

3.7

For

Agenda item : Elect Director Hanai, Takeshi.

25 Mar 16

Asics Corp.

AGM

3.8

For

Agenda item : Elect Director Kashiwaki, Hitoshi.

25 Mar 16

Asics Corp.

AGM

4.1

For

Agenda item : Appoint Statutory Auditor Inoue, Tadashi.

25 Mar 16

Asics Corp.

AGM

4.2

For

Agenda item : Appoint Statutory Auditor Miyakawa, Keiji.

Auditors.

25 Mar 16

Asics Corp.

AGM

4.3

For

Agenda item : Appoint Statutory Auditor Mihara, Hideaki.

25 Mar 16

Asics Corp.

AGM

4.4

For

Agenda item : Appoint Statutory Auditor Mitsuya, Yuko.

25 Mar 16

Asics Corp.

AGM

5

For

Agenda item : Appoint Alternate Statutory Auditor Onishi, Hirofumi.

25 Mar 16

Kagome Co. Ltd.

AGM

1

For

Agenda item : Amend Articles to Adopt Board Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Decrease Maximum Board Size - Clarify Director Authority on Board Meetings - Indemnify Directors.

25 Mar 16

Kagome Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Nishi, Hidenori.

25 Mar 16

Kagome Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Terada, Naoyuki.

25 Mar 16

Kagome Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Kodama, Hirohito.

25 Mar 16

Kagome Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Watanabe, Yoshihide.

25 Mar 16

Kagome Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Miwa, Katsuyuki.

25 Mar 16

Kagome Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Sumitomo, Masahiro.

25 Mar 16

Kagome Co. Ltd.

AGM

2.7

For

Agenda item : Elect Director Kondo, Seiichi.

25 Mar 16

Kagome Co. Ltd.

AGM

2.8

For

Agenda item : Elect Director Hashimoto, Takayuki.

25 Mar 16

Kagome Co. Ltd.

AGM

2.9

For

Agenda item : Elect Director Myoseki, Miyo.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Kagome Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director and Audit Committee Member Kanie, Mutsuhisa.

25 Mar 16

Kagome Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director and Audit Committee Member Murata, Morihiro.

25 Mar 16

Kagome Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director and Audit Committee Member Mori, Hiroshi.

25 Mar 16

Kagome Co. Ltd.

AGM

4

For

Agenda item : Elect Alternate Director and Audit Committee Member Ejiri,

25 Mar 16

Kagome Co. Ltd.

AGM

5

For

Takashi. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Not Audit Committee Members. 25 Mar 16

Kagome Co. Ltd.

AGM

6

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who

25 Mar 16

Kagome Co. Ltd.

AGM

7

For

Agenda item : Approve Deep Discount Stock Option Plan.

25 Mar 16

Kao Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 42.

25 Mar 16

Kao Corp.

AGM

2.1

For

Agenda item : Elect Director Sawada, Michitaka.

25 Mar 16

Kao Corp.

AGM

2.2

For

Agenda item : Elect Director Yoshida, Katsuhiko.

25 Mar 16

Kao Corp.

AGM

2.3

For

Agenda item : Elect Director Takeuchi, Toshiaki.

25 Mar 16

Kao Corp.

AGM

2.4

For

Agenda item : Elect Director Hasebe, Yoshihiro.

Are Audit Committee Members.

25 Mar 16

Kao Corp.

AGM

2.5

For

Agenda item : Elect Director Kadonaga, Sonosuke.

25 Mar 16

Kao Corp.

AGM

2.6

For

Agenda item : Elect Director Nagashima, Toru.

25 Mar 16

Kao Corp.

AGM

2.7

For

Agenda item : Elect Director Oku, Masayuki.

25 Mar 16

Kao Corp.

AGM

3

For

Agenda item : Appoint Statutory Auditor Inoue, Toraki.

25 Mar 16

Kao Corp.

AGM

4

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors.

25 Mar 16

Kubota Corp.

AGM

1

For

Agenda item : Amend Articles to Clarify Provisions on Alternate Statutory

25 Mar 16

Kubota Corp.

AGM

2.1

For

Agenda item : Elect Director Kimata, Masatoshi.

25 Mar 16

Kubota Corp.

AGM

2.2

For

Agenda item : Elect Director Kubo, Toshihiro.

25 Mar 16

Kubota Corp.

AGM

2.3

For

Agenda item : Elect Director Kimura, Shigeru.

25 Mar 16

Kubota Corp.

AGM

2.4

For

Agenda item : Elect Director Ogawa, Kenshiro.

25 Mar 16

Kubota Corp.

AGM

2.5

For

Agenda item : Elect Director Kitao, Yuichi.

25 Mar 16

Kubota Corp.

AGM

2.6

For

Agenda item : Elect Director Iida, Satoshi.

25 Mar 16

Kubota Corp.

AGM

2.7

For

Agenda item : Elect Director Matsuda, Yuzuru.

25 Mar 16

Kubota Corp.

AGM

2.8

Opposed

Agenda item : Elect Director Ina, Koichi.

Auditors.

UBS note : Board meeting attendance not considered satisfactory.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Appoint Alternate Statutory Auditor Morishita, Masao.

25 Mar 16

Kubota Corp.

AGM

3

For

25 Mar 16

Kubota Corp.

AGM

4

For

Agenda item : Approve Annual Bonus.

25 Mar 16

LAOX

AGM

1

For

Agenda item : Approve Reverse Stock Split to Comply with Exchange Mandate

25 Mar 16

LAOX

AGM

2

For

and Decrease Authorised Capital in Proportion to Reverse Stock Split. Agenda item : Amend Articles to Update Authorised Capital to Reflect Reverse Stock Split - Authorise Share Buybacks at Board's Discretion - Reduce Share Trading Unit - Indemnify Directors - Indemnify Statutory Auditors. 25 Mar 16

LAOX

AGM

3.1

For

Agenda item : Elect Director Yiwen Luo.

25 Mar 16

LAOX

AGM

3.2

For

Agenda item : Elect Director Yano, Teruji.

25 Mar 16

LAOX

AGM

3.3

For

Agenda item : Elect Director Zhe Wang.

25 Mar 16

LAOX

AGM

3.4

For

Agenda item : Elect Director Yong Jiang.

25 Mar 16

LAOX

AGM

3.5

For

Agenda item : Elect Director Feng Han.

25 Mar 16

LAOX

AGM

3.6

For

Agenda item : Elect Director Suhara, Shintaro.

25 Mar 16

LAOX

AGM

3.7

For

Agenda item : Elect Director Beibei Xu.

25 Mar 16

LAOX

AGM

4

For

Agenda item : Appoint Statutory Auditor Nishizawa, Tamio.

25 Mar 16

MonotaRO Co Ltd

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 7.

25 Mar 16

MonotaRO Co Ltd

AGM

2.1

For

Agenda item : Elect Director Seto, Kinya.

25 Mar 16

MonotaRO Co Ltd

AGM

2.2

For

Agenda item : Elect Director Suzuki, Masaya.

25 Mar 16

MonotaRO Co Ltd

AGM

2.3

For

Agenda item : Elect Director Miyajima, Masanori.

25 Mar 16

MonotaRO Co Ltd

AGM

2.4

For

Agenda item : Elect Director Yamagata, Yasuo.

25 Mar 16

MonotaRO Co Ltd

AGM

2.5

For

Agenda item : Elect Director Kitamura, Haruo.

25 Mar 16

MonotaRO Co Ltd

AGM

2.6

For

Agenda item : Elect Director Kishida, Masahiro.

25 Mar 16

MonotaRO Co Ltd

AGM

2.7

For

Agenda item : Elect Director David L. Rawlinson II.

25 Mar 16

Shiseido Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 10.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Uotani, Masahiko.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Iwai, Tsunehiko.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Sakai, Toru.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Ishikura, Yoko.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Iwata, Shoichiro.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Oishi, Kanoko.

25 Mar 16

Shiseido Co. Ltd.

AGM

2.7

For

Agenda item : Elect Director Uemura, Tatsuo.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Shiseido Co. Ltd.

AGM

3

For

Agenda item : Appoint Statutory Auditor Tsujiyama, Eiko.

25 Mar 16

Shiseido Co. Ltd.

AGM

4

For

Agenda item : Approve Annual Bonus.

25 Mar 16

Shiseido Co. Ltd.

AGM

5

For

Agenda item : Approve Deep Discount Stock Option Plan.

25 Mar 16

TonenGeneral Sekiyu K.K.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 19.

25 Mar 16

TonenGeneral Sekiyu K.K.

AGM

2

For

Agenda item : Elect Director Oshida, Yasuhiko.

25 Mar 16

TonenGeneral Sekiyu K.K.

AGM

3

For

Agenda item : Appoint Statutory Auditor Kuwano, Yoji.

25 Mar 16

TonenGeneral Sekiyu K.K.

AGM

4

For

Agenda item : Appoint Alternate Statutory Auditor Takano, Toshio.

25 Mar 16

Trend Micro Inc.

AGM

1

For

Agenda item : Approve Allocation of Income, With a Final Dividend of JPY

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 22.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director Yanagi, Hiroyuki.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.10

For

Agenda item : Elect Director Nakata, Takuya.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.11

For

Agenda item : Elect Director Niimi, Atsushi.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director Kimura, Takaaki.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director Shinozaki, Kozo.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.4

For

Agenda item : Elect Director Hideshima, Nobuya.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.5

For

Agenda item : Elect Director Takizawa, Masahiro.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.6

For

Agenda item : Elect Director Watanabe, Katsuaki.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.7

For

Agenda item : Elect Director Kato, Toshizumi.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.8

For

Agenda item : Elect Director Kojima, Yoichiro.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

3.9

For

Agenda item : Elect Director Adachi, Tamotsu.

110.

Auditors.

25 Mar 16

Yamaha Motor Co. Ltd.

AGM

4

For

Agenda item : Appoint Alternate Statutory Auditor Satake, Masayuki.

29 Mar 16

Canon Marketing Japan Inc

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 25.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.1

For

Agenda item : Elect Director Murase, Haruo.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.10

For

Agenda item : Elect Director Dobashi, Akio.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.2

For

Agenda item : Elect Director Sakata, Masahiro.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.3

For

Agenda item : Elect Director Usui, Yutaka.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.4

For

Agenda item : Elect Director Yagi, Koichi.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.5

For

Agenda item : Elect Director Matsusaka, Yoshiyuki.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

29 Mar 16

Canon Marketing Japan Inc

AGM

2.6

For

Agenda item : Elect Director Adachi, Masachika.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.7

For

Agenda item : Elect Director Hamada, Shiro.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.8

For

Agenda item : Elect Director Kamimori, Akihisa.

29 Mar 16

Canon Marketing Japan Inc

AGM

2.9

For

Agenda item : Elect Director Doi, Norihisa.

29 Mar 16

Canon Marketing Japan Inc

AGM

3.1

Opposed

Agenda item : Appoint Statutory Auditor Shimizu, Masahiro. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

29 Mar 16

Canon Marketing Japan Inc

AGM

3.2

Opposed

Agenda item : Appoint Statutory Auditor Tedo, Kunihiko. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

29 Mar 16

Canon Marketing Japan Inc

AGM

3.3

For

Agenda item : Appoint Statutory Auditor Kusumi, Nobuyasu.

29 Mar 16

Canon Marketing Japan Inc

AGM

4

For

Agenda item : Approve Annual Bonus.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 16.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

2

For

Agenda item : Approve Accounting Transfers.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

3

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.1

For

Agenda item : Elect Director Calin Dragan.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.10

For

Agenda item : Elect Director Costel Mandrea.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.2

For

Agenda item : Elect Director Kawamoto, Naruhiko.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.3

For

Agenda item : Elect Director Ozeki, Haruko.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.4

For

Agenda item : Elect Director Irial Finan.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.5

For

Agenda item : Elect Director Daniel Sayre.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.6

For

Agenda item : Elect Director Inagaki, Haruhiko.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.7

For

Agenda item : Elect Director Takanashi, Keiji.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.8

For

Agenda item : Elect Director Yoshioka, Hiroshi.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

4.9

For

Agenda item : Elect Director Jawahar Solai Kuppuswamy.

29 Mar 16

Coca-Cola East Japan Co Ltd

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors and

29 Mar 16

DIC Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 4.

29 Mar 16

DIC Corp.

AGM

2

For

Agenda item : Approve Reverse Stock Split to Comply with Exchange Mandate

Auditors.

Deep Discount Stock Option Plan.

and Decrease Authorised Capital in Proportion to Reverse Stock Split.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

29 Mar 16

DIC Corp.

AGM

3

For

Agenda item : Amend Articles to Reduce Share Trading Unit - Indemnify

29 Mar 16

DIC Corp.

AGM

4.1

For

Agenda item : Elect Director Nakanishi, Yoshiyuki.

29 Mar 16

DIC Corp.

AGM

4.2

For

Agenda item : Elect Director Saito, Masayuki.

29 Mar 16

DIC Corp.

AGM

4.3

For

Agenda item : Elect Director Kawamura, Yoshihisa.

29 Mar 16

DIC Corp.

AGM

4.4

For

Agenda item : Elect Director Wakabayashi, Hitoshi.

29 Mar 16

DIC Corp.

AGM

4.5

For

Agenda item : Elect Director Ino, Kaoru.

29 Mar 16

DIC Corp.

AGM

4.6

For

Agenda item : Elect Director Suzuki, Takao.

29 Mar 16

DIC Corp.

AGM

4.7

For

Agenda item : Elect Director Uchinaga, Yukako.

29 Mar 16

DIC Corp.

AGM

5.1

For

Agenda item : Appoint Statutory Auditor Mizutani, Jiro.

29 Mar 16

DIC Corp.

AGM

5.2

For

Agenda item : Appoint Statutory Auditor Mase, Yoshiyuki.

Directors - Indemnify Statutory Auditors.

29 Mar 16

Kuraray Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 22.

29 Mar 16

Kuraray Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

29 Mar 16

Kuraray Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director Ito, Fumio.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.10

For

Agenda item : Elect Director Toyoura, Hitoshi.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.11

For

Agenda item : Elect Director Hamaguchi, Tomokazu.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.12

For

Agenda item : Elect Director Hamano, Jun.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director Ito, Masaaki.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director Matsuyama, Sadaaki.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.4

For

Agenda item : Elect Director Kugawa, Kazuhiko.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.5

For

Agenda item : Elect Director Hayase, Hiroaya.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.6

For

Agenda item : Elect Director Komiya, Yukiatsu.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.7

For

Agenda item : Elect Director Nakayama, Kazuhiro.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.8

For

Agenda item : Elect Director Abe, Kenichi.

29 Mar 16

Kuraray Co. Ltd.

AGM

3.9

For

Agenda item : Elect Director Sano, Yoshimasa.

29 Mar 16

Kuraray Co. Ltd.

AGM

4.1

Opposed

Agenda item : Appoint Statutory Auditor Yukiyoshi, Kunio.

Auditors.

UBS note : Statutory Auditor not independent and the level of independence is insufficient. 29 Mar 16

Kuraray Co. Ltd.

AGM

4.2

For

Agenda item : Appoint Statutory Auditor Okamoto, Yoshimitsu.

29 Mar 16

NEXON Co.,Ltd.

AGM

1

Opposed

Agenda item : Approve Reduction in Capital and Capital Reserves and

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Accounting Transfers. UBS note : Not in shareholders' interests.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.1

For

Agenda item : Elect Director Owen Mahoney.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.2

For

Agenda item : Elect Director Uemura, Shiro.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.3

For

Agenda item : Elect Director Jiwon Park.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.4

For

Agenda item : Elect Director Jungju Kim.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.5

For

Agenda item : Elect Director Dohwa Lee.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.6

For

Agenda item : Elect Director Honda, Satoshi.

29 Mar 16

NEXON Co.,Ltd.

AGM

2.7

For

Agenda item : Elect Director Kuniya, Shiro.

29 Mar 16

NEXON Co.,Ltd.

AGM

3

Opposed

Agenda item : Approve Stock Option Plan. UBS note : The vesting conditions are inappropriate.

29 Mar 16

Otsuka Corporation

AGM

1

For

29 Mar 16

Otsuka Corporation

AGM

2

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 100. Agenda item : Amend Articles to Amend Business Lines - Indemnify Directors Indemnify Statutory Auditors.

29 Mar 16

Otsuka Corporation

AGM

3

For

Agenda item : Elect Director Saito, Tetsuo.

29 Mar 16

Otsuka Corporation

AGM

4.1

For

Agenda item : Appoint Statutory Auditor Minai, Naoto.

29 Mar 16

Otsuka Corporation

AGM

4.2

For

Agenda item : Appoint Statutory Auditor Nakai, Kazuhiko.

29 Mar 16

Otsuka Corporation

AGM

4.3

For

Agenda item : Appoint Statutory Auditor Wakatsuki, Tetsutaro.

29 Mar 16

Otsuka Corporation

AGM

4.4

For

Agenda item : Appoint Statutory Auditor Hada, Etsuo.

29 Mar 16

Otsuka Corporation

AGM

5

Opposed

Agenda item : Approve Statutory Auditor Retirement Bonus.

29 Mar 16

SUMCO Corp.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 10.

29 Mar 16

SUMCO Corp.

AGM

2

For

Agenda item : Amend Articles to Adopt Board Structure with Audit

UBS note : Transparency in compensation is desired.

Committee - Increase Maximum Board Size - Indemnify Directors - Authorise Board to Determine Income Allocation - Remove Provisions on Class A and B Preferred Shares to Reflect Cancellation. 29 Mar 16

SUMCO Corp.

AGM

3.1

For

Agenda item : Elect Director Hashimoto, Mayuki.

29 Mar 16

SUMCO Corp.

AGM

3.2

For

Agenda item : Elect Director Takii, Michiharu.

29 Mar 16

SUMCO Corp.

AGM

3.3

For

Agenda item : Elect Director Endo, Harumitsu.

29 Mar 16

SUMCO Corp.

AGM

3.4

For

Agenda item : Elect Director Furuya, Hisashi.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

29 Mar 16

SUMCO Corp.

AGM

3.5

For

Agenda item : Elect Director Hiramoto, Kazuo.

29 Mar 16

SUMCO Corp.

AGM

3.6

For

Agenda item : Elect Director Inoue, Fumio.

29 Mar 16

SUMCO Corp.

AGM

3.7

For

Agenda item : Elect Director Mokudai, Shiro.

29 Mar 16

SUMCO Corp.

AGM

3.8

For

Agenda item : Elect Director Maekawa, Susumu.

29 Mar 16

SUMCO Corp.

AGM

4.1

For

Agenda item : Elect Director and Audit Committee Member Yoshikawa,

29 Mar 16

SUMCO Corp.

AGM

4.2

For

29 Mar 16

SUMCO Corp.

AGM

4.3

For

Agenda item : Elect Director and Audit Committee Member Tanaka, Hitoshi.

29 Mar 16

SUMCO Corp.

AGM

4.4

For

Agenda item : Elect Director and Audit Committee Member Mitomi,

Hiroshi. Agenda item : Elect Director and Audit Committee Member Katahama, Hisashi.

Masahiro. 29 Mar 16

SUMCO Corp.

AGM

4.5

For

29 Mar 16

SUMCO Corp.

AGM

4.6

For

Agenda item : Elect Director and Audit Committee Member Ota, Shinichiro. Agenda item : Elect Director and Audit Committee Member Nakanishi, Kohei.

29 Mar 16

SUMCO Corp.

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Not Audit Committee Members.

29 Mar 16

SUMCO Corp.

AGM

6

For

29 Mar 16

Shimano Inc.

AGM

1

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members. Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 77.5.

29 Mar 16

Shimano Inc.

AGM

2.1

For

Agenda item : Elect Director Shimano, Yozo.

29 Mar 16

Shimano Inc.

AGM

2.2

For

Agenda item : Elect Director Hirata, Yoshihiro.

29 Mar 16

Shimano Inc.

AGM

2.3

For

Agenda item : Elect Director Shimano, Taizo.

29 Mar 16

Shimano Inc.

AGM

2.4

For

Agenda item : Elect Director Tarutani, Kiyoshi.

29 Mar 16

Shimano Inc.

AGM

2.5

For

Agenda item : Elect Director Tsuzaki, Masahiro.

29 Mar 16

Shimano Inc.

AGM

2.6

For

Agenda item : Elect Director Toyoshima, Takashi.

29 Mar 16

Shimano Inc.

AGM

2.7

For

Agenda item : Elect Director Hitomi, Yasuhiro.

29 Mar 16

Shimano Inc.

AGM

2.8

For

Agenda item : Elect Director Matsui, Hiroshi.

29 Mar 16

Shimano Inc.

AGM

3

For

Agenda item : Appoint Statutory Auditor Shimazu, Koichi.

29 Mar 16

Shimano Inc.

AGM

4

For

Agenda item : Appoint Alternate Statutory Auditor Kondo, Yukihiro.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 19.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.1

For

Agenda item : Elect Director Kameoka, Tsuyoshi.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.2

For

Agenda item : Elect Director Okada, Tomonori.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.3

For

Agenda item : Elect Director Takeda, Minoru.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.4

For

Agenda item : Elect Director Masuda, Yukio.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.5

For

Agenda item : Elect Director Nakamura, Takashi.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.6

For

Agenda item : Elect Director Ahmed M. Alkhunaini.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.7

For

Agenda item : Elect Director Nabil A. Al Nuaim.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.8

For

Agenda item : Elect Director Christopher K. Gunner.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

2.9

For

Agenda item : Elect Director Philip Choi.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

3.1

For

Agenda item : Appoint Statutory Auditor Yamagishi, Kenji.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

3.2

For

Agenda item : Appoint Statutory Auditor Yamada, Kiyotaka.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

3.3

For

Agenda item : Appoint Statutory Auditor Takahashi, Kenji.

29 Mar 16

Showa Shell Sekiyu K.K.

AGM

4

For

Agenda item : Approve Annual Bonus.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 12.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory Auditors.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

3

For

Agenda item : Elect Director Tanehashi, Makio.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

4.1

For

Agenda item : Appoint Statutory Auditor Hanazawa, Toshiyuki.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

4.2

For

Agenda item : Appoint Statutory Auditor Hattori, Shuichi.

29 Mar 16

Tokyo Tatemono Co. Ltd.

AGM

5

For

Agenda item : Appoint Alternate Statutory Auditor Uehara, Masahiro.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 9.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.1

For

Agenda item : Elect Director Ishimura, Kazuhiko.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.2

For

Agenda item : Elect Director Shimamura, Takuya.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.3

For

Agenda item : Elect Director Hirai, Yoshinori.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.4

For

Agenda item : Elect Director Miyaji, Shinji.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.5

For

Agenda item : Elect Director Sakane, Masahiro.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.6

For

Agenda item : Elect Director Kimura, Hiroshi.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

3.7

For

Agenda item : Elect Director Egawa, Masako.

30 Mar 16

Asahi Glass Co. Ltd.

AGM

4

For

Agenda item : Approve Stock Option Plan.

30 Mar 16

Canon Inc.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 75.

Auditors.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Canon Inc.

AGM

2.1

For

Agenda item : Elect Director Mitarai, Fujio.

30 Mar 16

Canon Inc.

AGM

2.2

For

Agenda item : Elect Director Tanaka, Toshizo.

30 Mar 16

Canon Inc.

AGM

2.3

For

Agenda item : Elect Director Matsumoto, Shigeyuki.

30 Mar 16

Canon Inc.

AGM

2.4

For

Agenda item : Elect Director Maeda, Masaya.

30 Mar 16

Canon Inc.

AGM

2.5

For

Agenda item : Elect Director Saida, Kunitaro.

30 Mar 16

Canon Inc.

AGM

2.6

For

Agenda item : Elect Director Kato, Haruhiko.

30 Mar 16

Canon Inc.

AGM

3

For

Agenda item : Approve Annual Bonus.

30 Mar 16

Dentsu Inc.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 40.

30 Mar 16

Dentsu Inc.

AGM

2

For

Agenda item : Amend Articles to Amend Business Lines - Adopt Board Structure with Audit Committee - Authorise Directors to Execute Day to Day Operations without Full Board Approval - Authorise Board to Determine Income Allocation.

30 Mar 16

Dentsu Inc.

AGM

3.1

For

Agenda item : Elect Director Ishii, Tadashi.

30 Mar 16

Dentsu Inc.

AGM

3.2

For

Agenda item : Elect Director Nakamoto, Shoichi.

30 Mar 16

Dentsu Inc.

AGM

3.3

For

Agenda item : Elect Director Takada, Yoshio.

30 Mar 16

Dentsu Inc.

AGM

3.4

For

Agenda item : Elect Director Timothy Andree.

30 Mar 16

Dentsu Inc.

AGM

3.5

For

Agenda item : Elect Director Matsushima, Kunihiro.

30 Mar 16

Dentsu Inc.

AGM

4.1

For

Agenda item : Elect Director and Audit Committee Member Kato, Kenichi.

30 Mar 16

Dentsu Inc.

AGM

4.2

Opposed

Agenda item : Elect Director and Audit Committee Member Toyama, Atsuko. UBS note : Candidate for the Audit or Remuneration Committee(s) is not considered independent and the level of independence is insufficient.

30 Mar 16

Dentsu Inc.

AGM

4.3

For

Agenda item : Elect Director and Audit Committee Member Hasegawa, Toshiaki.

30 Mar 16

Dentsu Inc.

AGM

4.4

For

Agenda item : Elect Director and Audit Committee Member Koga, Kentaro.

30 Mar 16

Dentsu Inc.

AGM

5

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors Who

30 Mar 16

Dentsu Inc.

AGM

6

For

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 19.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.1

For

Agenda item : Elect Director Isozaki, Yoshinori.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.2

For

Agenda item : Elect Director Nishimura, Keisuke.

Are Not Audit Committee Members. Agenda item : Approve Aggregate Compensation Ceiling for Directors Who Are Audit Committee Members.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.3

For

Agenda item : Elect Director Ito, Akihiro.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.4

For

Agenda item : Elect Director Nonaka, Junichi.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.5

For

Agenda item : Elect Director Miyoshi, Toshiya.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.6

For

Agenda item : Elect Director Arima, Toshio.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.7

For

Agenda item : Elect Director Arakawa, Shoshi.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.8

For

Agenda item : Elect Director Iwata, Kimie.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

2.9

For

Agenda item : Elect Director Nagayasu, Katsunori.

30 Mar 16

Kirin Holdings Co., Ltd.

AGM

3

For

Agenda item : Appoint Statutory Auditor Matsuda, Chieko.

30 Mar 16

Lion Corp.

AGM

1.1

For

Agenda item : Elect Director Hama, Itsuo.

30 Mar 16

Lion Corp.

AGM

1.2

For

Agenda item : Elect Director Watari, Yuji.

30 Mar 16

Lion Corp.

AGM

1.3

For

Agenda item : Elect Director Kikukawa, Masazumi.

30 Mar 16

Lion Corp.

AGM

1.4

For

Agenda item : Elect Director Kobayashi, Kenjiro.

30 Mar 16

Lion Corp.

AGM

1.5

For

Agenda item : Elect Director Kakui, Toshio.

30 Mar 16

Lion Corp.

AGM

1.6

For

Agenda item : Elect Director Sakakibara, Takeo.

30 Mar 16

Lion Corp.

AGM

1.7

For

Agenda item : Elect Director Yamada, Hideo.

30 Mar 16

Lion Corp.

AGM

1.8

For

Agenda item : Elect Director Uchida, Kazunari.

30 Mar 16

Lion Corp.

AGM

2

For

Agenda item : Appoint Alternate Statutory Auditor Yamaguchi, Takao.

30 Mar 16

Lion Corp.

AGM

3

For

Agenda item : Approve Director Retirement Bonus.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 58.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

2

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

3.1

For

Agenda item : Appoint Statutory Auditor Someya, Kazuyuki.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

3.2

For

Agenda item : Appoint Statutory Auditor Motohashi, Nobutaka.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

3.3

For

Agenda item : Appoint Statutory Auditor Masuda, Toru.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

3.4

For

Agenda item : Appoint Statutory Auditor Asai, Takashi.

30 Mar 16

Mabuchi Motor Co. Ltd.

AGM

4

For

Agenda item : Approve Equity Compensation Plan.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 8.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Arioka, Masayuki.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Matsumoto, Motoharu.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Tomamoto, Masahiro.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Takeuchi, Hirokazu.

Auditors.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Saeki, Akihisa.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Tsuda, Koichi.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.7

For

Agenda item : Elect Director Odano, Sumimaru.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.8

For

Agenda item : Elect Director Yamazaki, Hiroki.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

2.9

For

Agenda item : Elect Director Mori, Shuichi.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

3

For

Agenda item : Appoint Alternate Statutory Auditor Takahashi, Tsukasa.

30 Mar 16

Nippon Electric Glass Co. Ltd.

AGM

4

For

Agenda item : Approve Annual Bonus.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

1

For

Agenda item : Amend Articles to Indemnify Directors - Indemnify Statutory

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.1

For

Agenda item : Elect Director Otsuka, Ichiro.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.2

For

Agenda item : Elect Director Higuchi, Tatsuo.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.3

For

Agenda item : Elect Director Makise, Atsumasa.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.4

For

Agenda item : Elect Director Matsuo, Yoshiro.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.5

For

Agenda item : Elect Director Tobe, Sadanobu.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.6

For

Agenda item : Elect Director Watanabe, Tatsuro.

Auditors.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.7

For

Agenda item : Elect Director Hirotomi, Yasuyuki.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.8

For

Agenda item : Elect Director Konose, Tadaaki.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

2.9

For

Agenda item : Elect Director Matsutani, Yukio.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

3

For

Agenda item : Appoint Statutory Auditor Wachi, Yoko.

30 Mar 16

Otsuka Holdings Co Ltd

AGM

4

For

Agenda item : Approve Deep Discount Stock Option Plan.

30 Mar 16

Pola Orbis Holdings Inc

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 80.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.1

For

Agenda item : Elect Director Suzuki, Satoshi.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.2

For

Agenda item : Elect Director Kume, Naoki.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.3

For

Agenda item : Elect Director Fujii, Akira.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.4

For

Agenda item : Elect Director Miura, Takao.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.5

For

Agenda item : Elect Director Abe, Yoshifumi.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.6

For

Agenda item : Elect Director Komiya, Kazuyoshi.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.7

For

Agenda item : Elect Director Kamada, Yumiko.

30 Mar 16

Pola Orbis Holdings Inc

AGM

2.8

For

Agenda item : Elect Director Yokote, Yoshikazu.

30 Mar 16

Rakuten Inc.

AGM

1

For

Agenda item : Amend Articles to Amend Business Lines.

30 Mar 16

Rakuten Inc.

AGM

2.1

For

Agenda item : Elect Director Mikitani, Hiroshi.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Rakuten Inc.

AGM

2.2

For

Agenda item : Elect Director Hosaka, Masayuki.

30 Mar 16

Rakuten Inc.

AGM

2.3

For

Agenda item : Elect Director Charles B. Baxter.

30 Mar 16

Rakuten Inc.

AGM

2.4

For

Agenda item : Elect Director Kutaragi, Ken.

30 Mar 16

Rakuten Inc.

AGM

2.5

For

Agenda item : Elect Director Murai, Jun.

30 Mar 16

Rakuten Inc.

AGM

2.6

For

Agenda item : Elect Director Youngme Moon.

30 Mar 16

Rakuten Inc.

AGM

2.7

For

Agenda item : Elect Director Joshua G. James.

30 Mar 16

Rakuten Inc.

AGM

2.8

For

Agenda item : Elect Director Mitachi, Takashi. Agenda item : Appoint Statutory Auditor Yamaguchi, Katsuyuki.

30 Mar 16

Rakuten Inc.

AGM

3.1

For

30 Mar 16

Rakuten Inc.

AGM

3.2

For

Agenda item : Appoint Statutory Auditor Uchida, Takahide.

30 Mar 16

Rakuten Inc.

AGM

4

For

Agenda item : Approve Deep Discount Stock Option Plan for Inside Directors, Executive Officers and Employees.

30 Mar 16

Rakuten Inc.

AGM

5

For

30 Mar 16

Rakuten Inc.

AGM

6

For

Agenda item : Approve Deep Discount Stock Option Plan for Outside Directors. Agenda item : Approve Deep Discount Stock Option Plan for Statutory Auditors.

30 Mar 16

Rakuten Inc.

AGM

7

For

Agenda item : Apply Special Clause to Stock Options for Residents of the

30 Mar 16

Sapporo Holdings Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 7.

30 Mar 16

Sapporo Holdings Ltd.

AGM

2

For

Agenda item : Approve Reverse Stock Split to Comply with Exchange Mandate

30 Mar 16

Sapporo Holdings Ltd.

AGM

3

For

State of California, U.S.A.

and Decrease Authorised Capital in Proportion to Reverse Stock Split. Agenda item : Amend Articles to Update Authorised Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit - Indemnify Directors - Indemnify Statutory Auditors. 30 Mar 16

Sapporo Holdings Ltd.

AGM

4.1

For

Agenda item : Elect Director Kamijo, Tsutomu.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.2

For

Agenda item : Elect Director Watari, Junji.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.3

For

Agenda item : Elect Director Mizokami, Toshio.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.4

For

Agenda item : Elect Director Nose, Hiroyuki.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.5

For

Agenda item : Elect Director Soya, Shinichi.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.6

For

Agenda item : Elect Director Fukuhara, Mayumi.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.7

For

Agenda item : Elect Director Hattori, Shigehiko.

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.8

For

Agenda item : Elect Director Ikeda, Teruhiko.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Sapporo Holdings Ltd.

AGM

4.9

For

Agenda item : Elect Director Uzawa, Shizuka.

30 Mar 16

Sapporo Holdings Ltd.

AGM

5.1

For

Agenda item : Appoint Statutory Auditor Seki, Tetsuo.

30 Mar 16

Sapporo Holdings Ltd.

AGM

5.2

For

Agenda item : Appoint Statutory Auditor Sato, Junya.

30 Mar 16

Sapporo Holdings Ltd.

AGM

6

For

Agenda item : Appoint Alternate Statutory Auditor Yada, Tsugio.

30 Mar 16

Sapporo Holdings Ltd.

AGM

7

For

Agenda item : Approve Equity Compensation Plan.

30 Mar 16

Showa Denko K.K.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 3.

30 Mar 16

Showa Denko K.K.

AGM

2

For

Agenda item : Approve Reverse Stock Split to Comply with Exchange Mandate

30 Mar 16

Showa Denko K.K.

AGM

3

For

and Decrease Authorised Capital in Proportion to Reverse Stock Split. Agenda item : Amend Articles to Update Authorised Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit - Indemnify Directors - Indemnify Statutory Auditors. 30 Mar 16

Showa Denko K.K.

AGM

4.1

For

Agenda item : Elect Director Takahashi, Kyohei.

30 Mar 16

Showa Denko K.K.

AGM

4.2

For

Agenda item : Elect Director Ichikawa, Hideo.

30 Mar 16

Showa Denko K.K.

AGM

4.3

For

Agenda item : Elect Director Amano, Masaru.

30 Mar 16

Showa Denko K.K.

AGM

4.4

For

Agenda item : Elect Director Muto, Saburo.

30 Mar 16

Showa Denko K.K.

AGM

4.5

For

Agenda item : Elect Director Morikawa, Kohei.

30 Mar 16

Showa Denko K.K.

AGM

4.6

For

Agenda item : Elect Director Nagai, Taichi.

30 Mar 16

Showa Denko K.K.

AGM

4.7

For

Agenda item : Elect Director Akiyama, Tomofumi.

30 Mar 16

Showa Denko K.K.

AGM

4.8

For

Agenda item : Elect Director Morita, Akiyoshi.

30 Mar 16

Showa Denko K.K.

AGM

4.9

For

Agenda item : Elect Director Oshima, Masaharu.

30 Mar 16

Showa Denko K.K.

AGM

5.1

Opposed

Agenda item : Appoint Statutory Auditor Koinuma, Akira. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

30 Mar 16

Showa Denko K.K.

AGM

5.2

For

Agenda item : Appoint Statutory Auditor Tezuka, Hiroyuki.

30 Mar 16

Showa Denko K.K.

AGM

5.3

For

Agenda item : Appoint Statutory Auditor Saito, Kiyomi.

30 Mar 16

Showa Denko K.K.

AGM

6

For

Agenda item : Approve Equity Compensation Plan.

30 Mar 16

Showa Denko K.K.

AGM

7

For

Agenda item : Approve Aggregate Compensation Ceiling for Directors.

30 Mar 16

Skylark Co., Ltd.

AGM

1.1

For

Agenda item : Elect Director Raul Alvarez.

30 Mar 16

Skylark Co., Ltd.

AGM

1.2

For

Agenda item : Elect Director Tani, Makoto.

30 Mar 16

Skylark Co., Ltd.

AGM

1.3

For

Agenda item : Elect Director Teraguchi, Hiroshi.

30 Mar 16

Skylark Co., Ltd.

AGM

1.4

For

Agenda item : Elect Director Sugimoto, Yuji.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Skylark Co., Ltd.

AGM

1.5

For

Agenda item : Elect Director David Gross-Loh.

30 Mar 16

Skylark Co., Ltd.

AGM

1.6

For

Agenda item : Elect Director Nishijo, Atsushi.

30 Mar 16

Skylark Co., Ltd.

AGM

1.7

For

Agenda item : Elect Director Yokoyama, Atsushi.

30 Mar 16

Skylark Co., Ltd.

AGM

1.8

For

Agenda item : Elect Director Wada, Yukihiro.

30 Mar 16

Skylark Co., Ltd.

AGM

2

For

Agenda item : Appoint Statutory Auditor Nagata, Mitsuhiro.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 30.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.1

For

Agenda item : Elect Director Ikeda, Ikuji.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.10

For

Agenda item : Elect Director Uchioke, Fumikiyo.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.11

For

Agenda item : Elect Director Murakami, Kenji.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.2

For

Agenda item : Elect Director Tanaka, Hiroaki.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.3

For

Agenda item : Elect Director Nishi, Minoru.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.4

For

Agenda item : Elect Director Onga, Kenji.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.5

For

Agenda item : Elect Director Ii, Yasutaka.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.6

For

Agenda item : Elect Director Ishida, Hiroki.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.7

For

Agenda item : Elect Director Kuroda, Yutaka.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.8

For

Agenda item : Elect Director Yamamoto, Satoru.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

2.9

For

Agenda item : Elect Director Kosaka, Keizo.

30 Mar 16

Sumitomo Rubber Industries Ltd.

AGM

3

For

Agenda item : Appoint Statutory Auditor Murata, Morihiro.

30 Mar 16

Suntory Beverage & Food Limited

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 35.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.1

For

Agenda item : Elect Director Kogo, Saburo.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.2

For

Agenda item : Elect Director Kurihara, Nobuhiro.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.3

For

Agenda item : Elect Director Okizaki, Yukio.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.4

For

Agenda item : Elect Director Torii, Nobuhiro.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.5

For

Agenda item : Elect Director Kakimi, Yoshihiko.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.6

For

Agenda item : Elect Director Tsuchida, Masato.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.7

For

Agenda item : Elect Director Naiki, Hachiro.

30 Mar 16

Suntory Beverage & Food Limited

AGM

2.8

For

Agenda item : Elect Director Inoue, Yukari.

30 Mar 16

Suntory Beverage & Food Limited

AGM

3

Opposed

Agenda item : Elect Director and Audit Committee Member Chiji, Kozo. UBS note : Candidate is not considered independent and the level of independence on the Board is insufficient.

30 Mar 16

Suntory Beverage & Food Limited

AGM

4

For

Agenda item : Elect Alternate Director and Audit Committee Member

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 25.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Komaguchi, Katsumi.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Shimizu, Takashi.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Ono, Koichi.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Ishino, Masaji.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Tatara, Tetsuo.

Comments Amitani, Mitsuhiro.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Namura, Hiroko.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.7

For

Agenda item : Elect Director Morita, Ken.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

2.8

For

Agenda item : Elect Director Takeda, Atsushi.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

3.1

Opposed

Agenda item : Appoint Statutory Auditor Hirano, Akio. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

3.2

Opposed

Agenda item : Appoint Statutory Auditor Yamamoto, Sachio. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

30 Mar 16

Toyo Tire & Rubber Co. Ltd.

AGM

3.3

For

Agenda item : Appoint Statutory Auditor Saeki, Terumichi.

30 Mar 16

Unicharm Corp.

AGM

1.1

For

Agenda item : Elect Director Takahara, Keiichiro.

30 Mar 16

Unicharm Corp.

AGM

1.2

For

Agenda item : Elect Director Takahara, Takahisa.

30 Mar 16

Unicharm Corp.

AGM

1.3

For

Agenda item : Elect Director Futagami, Gumpei.

30 Mar 16

Unicharm Corp.

AGM

1.4

For

Agenda item : Elect Director Ishikawa, Eiji.

30 Mar 16

Unicharm Corp.

AGM

1.5

For

Agenda item : Elect Director Mori, Shinji.

30 Mar 16

Unicharm Corp.

AGM

1.6

For

Agenda item : Elect Director Nakano, Kennosuke.

30 Mar 16

Unicharm Corp.

AGM

1.7

For

Agenda item : Elect Director Takai, Masakatsu.

30 Mar 16

Unicharm Corp.

AGM

1.8

For

Agenda item : Elect Director Miyabayashi, Yoshihiro.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 16.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.1

For

Agenda item : Elect Director Iijima, Nobuhiro.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.10

For

Agenda item : Elect Director Iijima, Sachihiko.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.11

For

Agenda item : Elect Director Fukasawa, Tadashi.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.12

For

Agenda item : Elect Director Shoji, Yoshikazu.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.13

For

Agenda item : Elect Director Sonoda, Makoto.

Corporate governance – Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.14

For

Agenda item : Elect Director Harada, Akio.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.15

For

Agenda item : Elect Director Hatae, Keiko.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.2

For

Agenda item : Elect Director Yamada, Kensuke.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.3

For

Agenda item : Elect Director Yoshida, Teruhisa.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.4

For

Agenda item : Elect Director Maruoka, Hiroshi.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.5

For

Agenda item : Elect Director Iijima, Mikio.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.6

For

Agenda item : Elect Director Yokohama, Michio.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.7

For

Agenda item : Elect Director Aida, Masahisa.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.8

For

Agenda item : Elect Director Inutsuka, Isamu.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

2.9

For

Agenda item : Elect Director Sekine, Osamu.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

3

Opposed

Agenda item : Appoint Statutory Auditor Yoshidaya, Ryoichi. UBS note : Statutory Auditor not independent and the level of independence is insufficient.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

4

Opposed

Agenda item : Approve Director and Statutory Auditor Retirement Bonus. UBS note : Transparency in compensation is desired.

30 Mar 16

Yamazaki Baking Co.,Ltd.

AGM

5

Opposed

Agenda item : Approve Aggregate Compensation Ceiling for Directors.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

1

For

Agenda item : Approve Allocation of Income, with a Final Dividend of JPY 26.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.1

For

Agenda item : Elect Director Nagumo, Tadanobu.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.10

For

Agenda item : Elect Director Furukawa, Naozumi.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.11

For

Agenda item : Elect Director Okada, Hideichi.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.12

For

Agenda item : Elect Director Takenaka, Nobuo.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.2

For

Agenda item : Elect Director Noji, Hikomitsu.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.3

For

Agenda item : Elect Director Oishi, Takao.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.4

For

Agenda item : Elect Director Katsuragawa, Hideto.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.5

For

Agenda item : Elect Director Komatsu, Shigeo.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.6

For

Agenda item : Elect Director Kikuchi, Yasushi.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.7

For

Agenda item : Elect Director Mikami, Osamu.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.8

For

Agenda item : Elect Director Yamaishi, Masataka.

30 Mar 16

Yokohama Rubber Co. Ltd.

AGM

2.9

For

Agenda item : Elect Director Nakano, Shigeru.

UBS note : Transparency in compensation is desired.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Jan 16

Good Resources Holdings Ltd

EGM

1

For

Agenda item : Approve Zhenjiang Rongde Agreement and Related

18 Jan 16

Good Resources Holdings Ltd

EGM

2

For

18 Jan 16

Good Resources Holdings Ltd

EGM

3

For

18 Jan 16

Good Resources Holdings Ltd

EGM

4

For

22 Jan 16

Coway Co. Ltd.

EGM

1

For

Agenda item : Approve Spin-Off Agreement.

25 Jan 16

Samsung SDI Co., Ltd.

EGM

1

For

Agenda item : Approve Spin-Off Agreement.

25 Jan 16

Samsung SDI Co., Ltd.

EGM

2

For

Agenda item : Amend Articles of Incorporation.

27 Jan 16

National Australia Bank Limited

Court

1

For

Agenda item : Approve the Scheme of Arrangement between National

27 Jan 16

National Australia Bank Limited

EGM

1

For

Transactions. Agenda item : Authorise Board to Deal with All Matters in Relation to the Zhenjiang Rongde Agreement. Agenda item : Approve Shanghai Wealth Agreement and Related Transactions. Agenda item : Authorise Board to Deal with All Matters in Relation to the Shanghai Wealth Agreement.

Australia Bank Limited and Its Ordinary Shareholders. Agenda item : Approve Reduction of National Australia Bank Limited's Share Capital. 27 Jan 16

National Australia Bank Limited

EGM

2

For

Agenda item : Approve Reduction of CYBG PLC's Share Capital.

28 Jan 16

Noble Group Limited

EGM

1

Opposed

Agenda item : Approve Disposal by Noble Agri International Limited, a Direct Wholly-Owned Subsidiary of the Company, of Ordinary Shares in the Share Capital of Noble Agri Limited. UBS note : Not in shareholders' interests.

29 Jan 16

Frasers Centrepoint Limited

AGM

1

For

Agenda item : Adopt Financial Statements and Directors' and Auditors'

29 Jan 16

Frasers Centrepoint Limited

AGM

2

For

Agenda item : Approve Final Dividend.

Reports. 29 Jan 16

Frasers Centrepoint Limited

AGM

3a

For

Agenda item : Elect Charoen Sirivadhanabhakdi as Director.

29 Jan 16

Frasers Centrepoint Limited

AGM

3b

For

Agenda item : Elect Khunying Wanna Sirivadhanabhakdi as Director.

29 Jan 16

Frasers Centrepoint Limited

AGM

3c

For

Agenda item : Elect Chan Heng Wing as Director.

29 Jan 16

Frasers Centrepoint Limited

AGM

3d

For

Agenda item : Elect Chotiphat Bijananda as Director.

29 Jan 16

Frasers Centrepoint Limited

AGM

3e

Opposed

Agenda item : Elect Panote Sirivadhanabhakdi as Director.

29 Jan 16

Frasers Centrepoint Limited

AGM

4

For

Agenda item : Approve Directors' Fees.

29 Jan 16

Frasers Centrepoint Limited

AGM

5

For

Agenda item : Approve KPMG LLP as Auditors and Authorise Board to Fix

UBS note : Nominee currently sits on an excessive number of boards.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

29 Jan 16

Frasers Centrepoint Limited

AGM

6

Comments Their Remuneration.

Opposed

Agenda item : Approve Issuance of Equity or Equity-Linked Securities with or without Pre-emptive Rights. UBS note : General authority to issue share instruments without pre-emption rights not in shareholders' interests.

29 Jan 16

Frasers Centrepoint Limited

AGM

7

Opposed

Agenda item : Approve Grant of Awards and Issuance of Shares Under the FCL Restricted Share Plan and/or the FCL Performance Share Plan. UBS note : Lack of details available regarding this proposal.

29 Jan 16

Frasers Centrepoint Limited

AGM

8

For

Agenda item : Approve Mandate for Transactions with Related Parties.

29 Jan 16

Frasers Centrepoint Limited

AGM

9

For

Agenda item : Authorise Share Repurchase Program.

29 Jan 16

Frasers Centrepoint Limited

AGM

10

Opposed

Agenda item : Adopt New Constitution.

29 Jan 16

Orica Ltd.

AGM

2.1

Opposed

29 Jan 16

Orica Ltd.

AGM

2.2

Opposed

29 Jan 16

Orica Ltd.

AGM

3

For

Agenda item : Approve the Remuneration Report.

29 Jan 16

Orica Ltd.

AGM

4

For

Agenda item : Approve the Grant of Performance Rights to Alberto Calderon,

UBS note : Lack of details available regarding this proposal. Agenda item : Elect Ian Cockerill as Director. UBS note : Nominee currently sits on an excessive number of boards. Agenda item : Elect Malcolm Broomhead as Director. UBS note : Nominee currently sits on an excessive number of boards.

Managing Director of the Company. 01 Feb 16

MTR Corporation Ltd

EGM

1

For

Agenda item : Approve XRL Agreement and Related Transactions.

05 Feb 16

Daewoo Securities Co.

EGM

1

For

Agenda item : Elect Kim Byung-Il as Outside Director.

05 Feb 16

Daewoo Securities Co.

EGM

2

For

Agenda item : Elect Kim Byung-Il as Member of Audit Committee.

16 Feb 16

Ascendas Real Estate Investment Trust

EGM

1

For

Agenda item : Approve Proposed Acquisition of One@Changi City Together

16 Feb 16

Ascendas Real Estate Investment Trust

EGM

2

For

17 Feb 16

New World China Land Ltd.

EGM

1

For

Agenda item : Approve Guiyang SP Agreement and Related Transactions.

17 Feb 16

New World China Land Ltd.

EGM

2

For

Agenda item : Approve Chengdu SP Agreement and Related Transactions.

17 Feb 16

New World Development Co. Ltd.

EGM

1

For

Agenda item : Approve Guiyang SP Agreement and Related Transactions.

17 Feb 16

New World Development Co. Ltd.

EGM

2

For

Agenda item : Approve Chengdu SP Agreement and Related Transactions.

19 Feb 16

Sands China Ltd.

EGM

1

Opposed

Agenda item : Approve Amendment of the Terms of the Equity Award Plan of

with the Plant and Equipment Therein. Agenda item : Approve Issuance of New Units as Partial Consideration for the Proposed Acquisition.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments the Company. UBS note : Transparency in compensation is desired.

22 Feb 16

Korea Electric Power Corp.

EGM

1

For

Agenda item : Elect Cho Hwan-ik as Inside Director.

24 Feb 16

Aristocrat Leisure Ltd.

AGM

1

For

Agenda item : Elect ID Blackburne as Director.

24 Feb 16

Aristocrat Leisure Ltd.

AGM

2

For

Agenda item : Elect SW Morro as Director.

24 Feb 16

Aristocrat Leisure Ltd.

AGM

3

For

Agenda item : Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors.

24 Feb 16

Aristocrat Leisure Ltd.

AGM

4

For

Agenda item : Approve the Issuance of Performance Share Rights to JR Odell,

24 Feb 16

Aristocrat Leisure Ltd.

AGM

5

For

Agenda item : Approve the Remuneration Report.

29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Chief Executive Officer and Managing Director of the Company.

UBS note : The company failed to provide audited financial statements in a timely manner. 29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

3

For

Agenda item : Elect Two Inside Directors, One Outside Director, and One

29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

4

For

Agenda item : Appoint Kim Byeong-hong as Internal Auditor.

29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Non-independent Non-executive Director (Bundled).

Directors. 29 Feb 16

Samsung Fine Chemicals Co. Ltd.

AGM

6

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

03 Mar 16

Samsonite International S.A.

EGM

1

For

Agenda item : Reduce Authorised Share Capital and Confirm Validity of

11 Mar 16

Cheil Worldwide Inc.

AGM

1

Opposed

Authorised Share Capital. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

Cheil Worldwide Inc.

AGM

2.1

Opposed

Agenda item : Elect Lim Dae-gi as Inside Director. UBS note : Position of Chairman and Chief Executive is combined, contrary to best practice.

11 Mar 16

Cheil Worldwide Inc.

AGM

2.2

For

Agenda item : Elect Kim Seok-pil as Inside Director.

11 Mar 16

Cheil Worldwide Inc.

AGM

2.3

For

Agenda item : Elect Yoo Jeong-geun as Inside Director.

11 Mar 16

Cheil Worldwide Inc.

AGM

2.4

For

Agenda item : Elect Kim Min-ho as Outside Director.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

11 Mar 16

Cheil Worldwide Inc.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Cheil Worldwide Inc.

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

11 Mar 16

Daewoo Shipbuilding & Marine Engineering Co.

EGM

1

Opposed

Agenda item : Amend Articles of Incorporation.

11 Mar 16

E-MART Co. Ltd.

AGM

1

Opposed

Directors.

UBS note : Not in shareholders' interests. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

E-MART Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

E-MART Co. Ltd.

AGM

3.1

For

Agenda item : Elect Kim Hae-seong as Inside Director.

11 Mar 16

E-MART Co. Ltd.

AGM

3.2

For

Agenda item : Elect Han Chae-yang as Inside Director.

11 Mar 16

E-MART Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Hotel Shilla Co.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

11 Mar 16

Hotel Shilla Co.

AGM

2.1

For

Agenda item : Amend Articles of Incorporation (Stock).

11 Mar 16

Hotel Shilla Co.

AGM

2.2

For

Agenda item : Amend Articles of Incorporation (Board of Directors).

11 Mar 16

Hotel Shilla Co.

AGM

3.1

For

Agenda item : Elect Jeong Jin-ho as Outside Director.

11 Mar 16

Hotel Shilla Co.

AGM

3.2

For

Agenda item : Elect Moon Jae-woo as Outside Director.

11 Mar 16

Hotel Shilla Co.

AGM

3.3

For

Agenda item : Elect Oh Young-ho as Outside Director.

11 Mar 16

Hotel Shilla Co.

AGM

3.4

Opposed

Directors.

Agenda item : Elect Chae Hong-gwan as Inside Director. UBS note : Executive Director is a member of the Remuneration Committee, for which the level of independence is insufficient.

11 Mar 16

Hotel Shilla Co.

AGM

4.1

For

Agenda item : Elect Jeong Jin-ho as Member of Audit Committee.

11 Mar 16

Hotel Shilla Co.

AGM

4.2

For

Agenda item : Elect Kim Won-yong as Member of Audit Committee.

11 Mar 16

Hotel Shilla Co.

AGM

4.3

For

Agenda item : Elect Moon Jae-woo as Member of Audit Committee.

11 Mar 16

Hotel Shilla Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

11 Mar 16

Hyundai Engineering & Construction Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

11 Mar 16

Hyundai Engineering & Construction Co. Ltd.

AGM

2

For

Agenda item : Elect Two Outside Directors (Bundled).

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

11 Mar 16

Hyundai Engineering & Construction Co. Ltd.

AGM

3

For

Agenda item : Elect Two Members of Audit Committee.

11 Mar 16

Hyundai Engineering & Construction Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Comments

Directors. 11 Mar 16

Hyundai Glovis Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

11 Mar 16

Hyundai Glovis Co.

AGM

2

For

Agenda item : Elect One Inside Director, One Outside Director, and One

11 Mar 16

Hyundai Glovis Co.

AGM

3

For

Agenda item : Elect Ma Sang-gon as Member of Audit Committee.

11 Mar 16

Hyundai Glovis Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Non-independent Non-executive Director.

Directors. 11 Mar 16

Hyundai Mobis Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

11 Mar 16

Hyundai Mobis Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Hyundai Mobis Co.

AGM

3

Opposed

Agenda item : Elect Three Inside Directors and One Outside Director (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

11 Mar 16

Hyundai Mobis Co.

AGM

4

For

Agenda item : Elect Lee Seung-ho as Member of Audit Committee.

11 Mar 16

Hyundai Mobis Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Hyundai Motor Co.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income. Agenda item : Elect Two Inside Directors and Two Outside Directors (Bundled).

Directors. 11 Mar 16

Hyundai Motor Co.

AGM

2

For

11 Mar 16

Hyundai Motor Co.

AGM

3

For

Agenda item : Elect Nam Seong-il as Member of Audit Committee.

11 Mar 16

Hyundai Motor Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

11 Mar 16

Hyundai Steel Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

11 Mar 16

Hyundai Steel Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Elect One Inside Director and Two Outside Directors (Bundled).

11 Mar 16

Hyundai Steel Co.

AGM

3

For

11 Mar 16

Hyundai Steel Co.

AGM

4

For

Agenda item : Elect Two Members of Audit Committee.

11 Mar 16

Hyundai Steel Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

LG Display Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

LG Display Co.

AGM

2.1

For

Agenda item : Elect Park Jun as Outside Director.

11 Mar 16

LG Display Co.

AGM

2.2

For

Agenda item : Elect Han Geun-tae as Outside Director.

11 Mar 16

LG Display Co.

AGM

3

For

Agenda item : Elect Park Jun as Member of Audit Committee.

11 Mar 16

LG Display Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

POSCO

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

11 Mar 16

POSCO

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

POSCO

AGM

3.1

For

Agenda item : Elect Lee Myeong-woo as Outside Director.

11 Mar 16

POSCO

AGM

3.2

For

Agenda item : Elect Choi Jeong-woo as Inside Director.

11 Mar 16

POSCO

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

S-1 Corp.

AGM

1

Opposed

Directors.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

S-1 Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

S-1 Corp.

AGM

3

Opposed

Agenda item : Elect One Inside Director and One Outside Director (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

11 Mar 16

S-1 Corp.

AGM

4

For

Agenda item : Appoint Kim Yoon-hwan as Internal Auditor.

11 Mar 16

S-1 Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

S-1 Corp.

AGM

6

For

11 Mar 16

Samsung C&T Corp.

AGM

1

Opposed

Directors. Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s). Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

11 Mar 16

Samsung C&T Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung C&T Corp.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Samsung Card Co.

AGM

1

Opposed

Comments timely manner.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

Samsung Card Co.

AGM

2

For

11 Mar 16

Samsung Card Co.

AGM

3

For

Agenda item : Amend Articles of Incorporation. Agenda item : Elect Park Gyeong-guk as Inside Director.

11 Mar 16

Samsung Card Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

11 Mar 16

Samsung Electro-Mechanics Co.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

11 Mar 16

Samsung Electro-Mechanics Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung Electro-Mechanics Co.

AGM

3

For

Agenda item : Elect Jeong Gwang-young as Inside Director.

11 Mar 16

Samsung Electro-Mechanics Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.1.1

For

Agenda item : Elect Lee In-ho as Outside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.1.2

For

Agenda item : Elect Song Gwang-su as Outside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.1.3

For

Agenda item : Elect Park Jae-wan as Outside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.2.1

For

Agenda item : Elect Yoon Bu-geun as Inside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.2.2

For

Agenda item : Elect Shin Jong-gyun as Inside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.2.3

For

Agenda item : Elect Lee Sang-hun as Inside Director.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.3.1

For

Agenda item : Elect Lee In-ho as Member of Audit Committee.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

2.3.2

For

Agenda item : Elect Song Gwang-su as Member of Audit Committee.

11 Mar 16

Samsung Electronics Co., Ltd.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Directors.

Directors. 11 Mar 16

Samsung Electronics Co., Ltd.

AGM

4

For

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

1

Opposed

Agenda item : Amend Articles of Incorporation. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

3.1.1

For

Agenda item : Elect Oh Su-sang as Inside Director.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

3.2.1

For

Agenda item : Elect Moon Hyo-nam as Outside Director.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

3.2.2

For

Agenda item : Elect Son Byeong-jo as Outside Director.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

3.2.3

For

Agenda item : Elect Yoon Young-cheol as Outside Director.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

3.2.4

For

Agenda item : Elect Cho Dong-geun as Outside Director.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

4.1.1

For

Agenda item : Elect Oh Su-sang as Member of Audit Committee. Agenda item : Elect Son Byeong-jo as Member of Audit Committee.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

4.2.1

For

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

4.2.2

For

Agenda item : Elect Yoon Young-cheol as Member of Audit Committee.

11 Mar 16

Samsung Fire & Marine Insurance Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

3.1.1

For

Agenda item : Elect Kim Dae-hwan as Inside Director.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

3.1.2

For

Agenda item : Elect Lee Doh-seung as Inside Director.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

3.2.1

For

Agenda item : Elect Heo Gyeong-wook as Outside Director.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

3.2.2

For

Agenda item : Elect Kim Du-cheol as Outside Director.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

4.1

For

Agenda item : Elect Lee Doh-seung as Member of Audit Committee.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

4.2

For

Agenda item : Elect Kim Du-cheol as Member of Audit Committee.

11 Mar 16

Samsung Life Insurance Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Samsung SDI Co., Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

Samsung SDI Co., Ltd.

AGM

2.1

For

11 Mar 16

Samsung SDI Co., Ltd.

AGM

2.2

For

Agenda item : Elect Song Chang-ryong as Inside Director. Agenda item : Elect Kim Hong-gyeong as Inside Director.

11 Mar 16

Samsung SDI Co., Ltd.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Samsung SDI Co., Ltd.

AGM

4

For

11 Mar 16

Samsung SDS Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Amend Articles of Incorporation. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

11 Mar 16

Samsung SDS Co. Ltd.

AGM

2.1

For

Agenda item : Elect Jeong Yoo-seong as Inside Director.

11 Mar 16

Samsung SDS Co. Ltd.

AGM

2.2

For

Agenda item : Elect Hong Won-pyo as Inside Director.

11 Mar 16

Samsung SDS Co. Ltd.

AGM

3

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung SDS Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Samsung Securities Co. Ltd.

AGM

1

Opposed

Comments timely manner.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

Samsung Securities Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

11 Mar 16

Samsung Securities Co. Ltd.

AGM

3.1

For

Agenda item : Elect Kim Seong-jin as Outside Director.

11 Mar 16

Samsung Securities Co. Ltd.

AGM

3.2

For

Agenda item : Elect Moon Gyeong-tae as Outside Director.

11 Mar 16

Samsung Securities Co. Ltd.

AGM

3.3

For

Agenda item : Elect Jeon Young-muk as Inside Director.

11 Mar 16

Samsung Securities Co. Ltd.

AGM

4.1

For

Agenda item : Elect Kim Seong-jin as Member of Audit Committee.

11 Mar 16

Samsung Securities Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

11 Mar 16

Shinsegae Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 11 Mar 16

Shinsegae Co.

AGM

2.1

For

Agenda item : Elect Jang Jae-young as Inside Director.

11 Mar 16

Shinsegae Co.

AGM

2.2

For

Agenda item : Elect Cho Chang-hyeon as Inside Director.

11 Mar 16

Shinsegae Co.

AGM

2.3

For

Agenda item : Elect Park Yoon-jun as Outside Director.

11 Mar 16

Shinsegae Co.

AGM

3

For

Agenda item : Elect Park Yoon-jun as Member of Audit Committee.

11 Mar 16

Shinsegae Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

14 Mar 16

Daewoo International Corp.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 14 Mar 16

Daewoo International Corp.

AGM

2.1

For

Agenda item : Amend Articles of Incorporation (Change Company Name).

14 Mar 16

Daewoo International Corp.

AGM

2.2

For

Agenda item : Amend Articles of Incorporation (Change Location of General Meeting).

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

14 Mar 16

Daewoo International Corp.

AGM

3.1

For

Agenda item : Elect Jeon Guk-hwan as Inside Director.

14 Mar 16

Daewoo International Corp.

AGM

3.2

For

Agenda item : Elect Oh In-hwan as Non-indpendent Non-executive Director.

14 Mar 16

Daewoo International Corp.

AGM

3.3.1

For

Agenda item : Elect Kang Hui-cheol as Outside Director.

14 Mar 16

Daewoo International Corp.

AGM

3.3.2

For

Agenda item : Elect Lee Gi-young as Outside Director.

14 Mar 16

Daewoo International Corp.

AGM

4.1

For

Agenda item : Elect Kang Hui-cheol as Member of Audit Committee.

14 Mar 16

Daewoo International Corp.

AGM

4.2

For

Agenda item : Elect Lee Gi-young as Member of Audit Committee.

14 Mar 16

Daewoo International Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

AmorePacific Corp.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

AmorePacific Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

AmorePacific Corp.

AGM

3

For

Agenda item : Elect One Inside Director and One Outside Director (Bundled).

18 Mar 16

AmorePacific Corp.

AGM

4

For

Agenda item : Elect Eom Young-ho as Member of Audit Committee.

18 Mar 16

AmorePacific Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Amorepacific Group Inc.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Amorepacific Group Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Amorepacific Group Inc.

AGM

3

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled).

18 Mar 16

Amorepacific Group Inc.

AGM

4

For

Agenda item : Elect Three Members of Audit Committee.

18 Mar 16

Amorepacific Group Inc.

AGM

5

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. UBS note : Transparency in compensation is desired.

18 Mar 16

Amorepacific Group Inc.

AGM

6

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

18 Mar 16

CJ CheilJedang Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

CJ CheilJedang Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

CJ CheilJedang Co.

AGM

3.1

Opposed

Agenda item : Elect Son Gyeong-sik as Inside Director.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

18 Mar 16

CJ CheilJedang Co.

AGM

3.2

For

Agenda item : Elect Heo Min-hoe as Inside Director.

18 Mar 16

CJ CheilJedang Co.

AGM

3.3

Opposed

Agenda item : Elect Lee Gi-su as Outside Director.

18 Mar 16

CJ CheilJedang Co.

AGM

3.4

Opposed

18 Mar 16

CJ CheilJedang Co.

AGM

3.5

Opposed

18 Mar 16

CJ CheilJedang Co.

AGM

4.1

Opposed

18 Mar 16

CJ CheilJedang Co.

AGM

4.2

Opposed

18 Mar 16

CJ CheilJedang Co.

AGM

4.3

Opposed

Agenda item : Elect Kim Gap-sun as Member of Audit Committee.

18 Mar 16

CJ CheilJedang Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

CJ Corp.

AGM

1

Opposed

Comments UBS note : Failed to act in the interest of shareholders.

UBS note : Failed to act in the interest of shareholders. Agenda item : Elect Choi Jeong-pyo as Outside Director. UBS note : Failed to act in the interest of shareholders. Agenda item : Elect Kim Gap-sun as Outside Director. UBS note : Failed to act in the interest of shareholders. Agenda item : Elect Lee Gi-su as Member of Audit Committee. UBS note : Failed to act in the interest of shareholders. Agenda item : Elect Choi Jeong-pyo as Member of Audit Committee. UBS note : Failed to act in the interest of shareholders. UBS note : Failed to act in the interest of shareholders. Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

CJ Corp.

AGM

2.1

For

Agenda item : Elect Shin Hyeon-jae as Inside Director.

18 Mar 16

CJ Corp.

AGM

2.2

Opposed

Agenda item : Elect Kim Seong-ho as Outside Director.

18 Mar 16

CJ Corp.

AGM

3

Opposed

Agenda item : Elect Kim Seong-ho as Member of Audit Committee.

18 Mar 16

CJ Corp.

AGM

4

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside

UBS note : Failed to act in the interest of shareholders. UBS note : Failed to act in the interest of shareholders. Directors. UBS note : Transparency in compensation is desired. 18 Mar 16

CJ Korea Express Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

CJ Korea Express Corp.

AGM

2

For

Agenda item : Elect Two Inside Directors (Bundled).

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

CJ Korea Express Corp.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Dongbu Insurance Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Dongbu Insurance Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Dongbu Insurance Co.

AGM

3

For

Agenda item : Elect One Inside Director and Three Outside Directors

18 Mar 16

Dongbu Insurance Co.

AGM

4

For

18 Mar 16

Dongbu Insurance Co.

AGM

5

For

Agenda item : Elect Ahn Hyeong-jun as Member of Audit Committee.

18 Mar 16

Dongbu Insurance Co.

AGM

6

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Dongsuh Co.

AGM

1.1

For

Agenda item : Elect Lee Chang-hwan as Inside Director.

18 Mar 16

Dongsuh Co.

AGM

1.2

For

Agenda item : Elect Kim Jong-won as Inside Director.

18 Mar 16

Dongsuh Co.

AGM

1.3

For

Agenda item : Elect Yoon Se-cheol as Inside Director.

18 Mar 16

Dongsuh Co.

AGM

1.4

For

Agenda item : Elect Kim Yong-eon as Outside Director.

18 Mar 16

Dongsuh Co.

AGM

2

For

Agenda item : Appoint Lee Hong-jae as Internal Auditor.

18 Mar 16

Dongsuh Co.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

(Bundled). Agenda item : Elect Two Members of Audit Committee.

Directors.

Directors. 18 Mar 16

Dongsuh Co.

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

18 Mar 16

Dongsuh Co.

AGM

5

For

Agenda item : Approve Conditional Delisting from KOSDAQ and listing on

18 Mar 16

GS Engineering & Construction Ltd.

AGM

1

Opposed

KOSPI. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

GS Engineering & Construction Ltd.

AGM

2

For

Agenda item : Elect One Inside Director and Two Outside Directors (Bundled).

18 Mar 16

GS Engineering & Construction Ltd.

AGM

3

For

Agenda item : Elect Ju In-gi as Member of Audit Committee.

18 Mar 16

GS Engineering & Construction Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

GS Holdings Corp.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

18 Mar 16

GS Holdings Corp.

AGM

2

Comments timely manner.

For

Agenda item : Elect One Inside Director, One Non-independent Non-executive Director, and Two Outside Directors (Bundled).

18 Mar 16

GS Holdings Corp.

AGM

3

For

Agenda item : Elect Kim In-gyu as Member of Audit Committee.

18 Mar 16

GS Holdings Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hanjin Shipping Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Hanjin Shipping Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Hanjin Shipping Co. Ltd.

AGM

3

For

Agenda item : Elect One Outside Director and One Non-independent

18 Mar 16

Hanjin Shipping Co. Ltd.

AGM

4

For

Agenda item : Elect Noh Hyeong-jong as Member of Audit Committee.

18 Mar 16

Hanjin Shipping Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Non-executive Director (Bundled).

Directors. 18 Mar 16

Hanmi Pharm Co. Ltd.

AGM

1.1

For

Agenda item : Elect Two Inside Directors (Bundled).

18 Mar 16

Hanmi Pharm Co. Ltd.

AGM

1.2

For

Agenda item : Elect Two Outside Directors (Bundled).

18 Mar 16

Hanmi Pharm Co. Ltd.

AGM

2

For

Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

Hanmi Pharm Co. Ltd.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hanmi Science Co. Ltd.

AGM

1.1

For

Agenda item : Elect Two Inside Directors (Bundled).

18 Mar 16

Hanmi Science Co. Ltd.

AGM

1.2

For

Agenda item : Elect Hwang Ui-in as Outside Director.

18 Mar 16

Hanmi Science Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Hanmi Science Co. Ltd.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hanmi Science Co. Ltd.

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

18 Mar 16

Hanssem Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Directors.

Directors.

UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Hanssem Co.

AGM

2

For

Agenda item : Elect Three Inside Directors (Bundled).

18 Mar 16

Hanssem Co.

AGM

3

For

Agenda item : Appoint Lee Young-bong as Internal Auditor.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

Hanssem Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hanssem Co.

AGM

5

For

18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

1

Opposed

Directors. Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s). Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

2.1

For

18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

2.2

Opposed

Agenda item : Amend Articles of Incorporation (Reflection of Changes in Law). Agenda item : Amend Articles of Incorporation (Removal of Cumulative Voting System). UBS note : Not in shareholders' interests.

18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

3

For

18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

4

For

Agenda item : Elect Two Inside Directors and Four Outside Directors (Bundled). Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

Hanwha Life Insurance Co.Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

Hyosung Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Hyosung Corp.

AGM

2

Opposed

Agenda item : Elect Four Inside Directors and One Outside Director (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

18 Mar 16

Hyosung Corp.

AGM

3

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. UBS note : Transparency in compensation is desired.

18 Mar 16

Hyundai Department Store Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Hyundai Department Store Co.

AGM

2

Opposed

Agenda item : Elect Three Inside Directors and Three Outside Directors (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

18 Mar 16

Hyundai Department Store Co.

AGM

3

For

Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

Hyundai Department Store Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Comments

Directors. 18 Mar 16

Hyundai Merchant Marine Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.1

For

Agenda item : Elect Lee Baek-hun as Inside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.2

For

Agenda item : Elect Kim Jeong-beom as Inside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.3

For

Agenda item : Elect Kim Chung-hyeon as Inside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.4

For

Agenda item : Elect Jeon Jun-su as Outside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.5

For

Agenda item : Elect Heo Seon as Outside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.6

For

Agenda item : Elect Kim Heung-geol as Outside Director.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

3.7

Opposed

Agenda item : Elect Eric Sing Chi Ip as Outside Director. UBS note : Level of attendance at board meetings not considered satisfactory.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

4.1

For

Agenda item : Elect Jeon Jun-su as Member of Audit Committee.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

4.2

For

Agenda item : Elect Heo Seon as Member of Audit Committee.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

4.3

For

Agenda item : Elect Kim Heung-geol as Member of Audit Committee.

18 Mar 16

Hyundai Merchant Marine Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hyundai Merchant Marine Co.

AGM

6

For

18 Mar 16

Hyundai Mipo Dockyard Co.

AGM

1

Opposed

Directors. Agenda item : Approve Reverse Stock Split. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Hyundai Mipo Dockyard Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Hyundai Mipo Dockyard Co.

AGM

3

For

Agenda item : Elect Noh Hwan-gyun as Outside Director.

18 Mar 16

Hyundai Mipo Dockyard Co.

AGM

4

For

Agenda item : Elect Noh Hwan-gyun as Member of Audit Committee.

18 Mar 16

Hyundai Mipo Dockyard Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : Transparency in compensation is desired.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.1

For

Agenda item : Elect Hyeon Jeong-eun as Inside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.2

For

Agenda item : Elect Lee Seon-jae as Inside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.3

For

Agenda item : Elect Kim Sang-nam as Outside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.4

For

Agenda item : Elect Son Won-ik as Outside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.5

For

Agenda item : Elect Kim Yoo-jong as Outside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

2.6

For

Agenda item : Elect Jang Si-il as Outside Director.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

3.1

For

Agenda item : Elect Lee Seon-jae as Member of Audit Committee.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

3.2

For

Agenda item : Elect Kim Yoo-jong as Member of Audit Committee.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

3.3

For

Agenda item : Elect Jang Si-il as Member of Audit Committee.

18 Mar 16

Hyundai Securities Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

Hyundai WIA Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Hyundai WIA Corp.

AGM

2

For

Agenda item : Elect Son Il-geun as Inside Director.

18 Mar 16

Hyundai WIA Corp.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

KCC Corp.

AGM

1

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

KCC Corp.

AGM

2.1

For

Agenda item : Elect Two Inside Directors (Bundled). Agenda item : Elect Three Outside Directors (Bundled).

Directors.

18 Mar 16

KCC Corp.

AGM

2.2

For

18 Mar 16

KCC Corp.

AGM

3

For

Agenda item : Elect Song Tae-nam as Member of Audit Committee.

18 Mar 16

KCC Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

KT&G Corp.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

18 Mar 16

KT&G Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

KT&G Corp.

AGM

3.1

For

Agenda item : Elect Ko Sang-gon as Outside Director.

18 Mar 16

KT&G Corp.

AGM

3.2

For

Agenda item : Elect Yoon Hae-su as Outside Director.

18 Mar 16

KT&G Corp.

AGM

3.3

For

Agenda item : Elect Lee Eun-gyeong as Outside Director.

18 Mar 16

KT&G Corp.

AGM

3.4

For

Agenda item : Elect Kim Heung-ryeol as Inside Director.

18 Mar 16

KT&G Corp.

AGM

4.1

For

Agenda item : Elect Ko Sang-gon as Member of Audit Committee.

18 Mar 16

KT&G Corp.

AGM

4.2

For

Agenda item : Elect Lee Eun-gyeong as Member of Audit Committee.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

KT&G Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Kia Motors Corporation

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Kia Motors Corporation

AGM

2

For

Agenda item : Elect One Inside Director, One Outside Director, and One Non-independent Non-executive Director (Bundled).

18 Mar 16

Kia Motors Corporation

AGM

3

For

Agenda item : Elect Nam Sang-gu as Member of Audit Committee.

18 Mar 16

Kia Motors Corporation

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

2.1

For

Agenda item : Elect Three Non-independent Non-executive Directors (Bundled).

18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

2.2

For

Agenda item : Elect Kim Ho-eop as Outside Director.

18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

3.1

For

Agenda item : Elect Jeong Jae-gyeong as Member of Audit Committee.

18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

3.2

For

Agenda item : Elect Kim Ho-eop as Member of Audit Committee.

18 Mar 16

Korea Aerospace Industries Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Korean Air Lines Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

Korean Air Lines Co. Ltd.

AGM

2

Opposed

Agenda item : Elect Two Inside Directors and Two Outside Directors (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

18 Mar 16

Korean Air Lines Co. Ltd.

AGM

3

For

Agenda item : Elect Lee Seok-woo as Member of Audit Committee.

18 Mar 16

Korean Air Lines Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Kumho Petro Chemical Co., Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

18 Mar 16

Kumho Petro Chemical Co., Ltd.

AGM

2

Comments timely manner.

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled). UBS note : A bundled resolution for the election of directors is not appropriate.

18 Mar 16

Kumho Petro Chemical Co., Ltd.

AGM

3

For

Agenda item : Elect Jeong Jin-ho as Member of Audit Committee.

18 Mar 16

Kumho Petro Chemical Co., Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

UBS note : Failed to act in the interest of shareholders. Directors. UBS note : Transparency in compensation is desired. 18 Mar 16

LG Chem Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

LG Chem Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

LG Chem Ltd.

AGM

3

For

Agenda item : Elect One Inside Director, Three Outside Directors, and One Non-independent Non-executive Director (Bundled).

18 Mar 16

LG Chem Ltd.

AGM

4

For

Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

LG Chem Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

LG Electronics Inc.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

LG Electronics Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

LG Electronics Inc.

AGM

3.1.1

For

Agenda item : Elect Cho Jun-ho as Inside Director.

18 Mar 16

LG Electronics Inc.

AGM

3.1.2

For

Agenda item : Elect Cho Seong-jin as Inside Director.

18 Mar 16

LG Electronics Inc.

AGM

3.2.1

For

Agenda item : Elect Lee Chang-woo as Outside Director.

18 Mar 16

LG Electronics Inc.

AGM

3.2.2

For

Agenda item : Elect Ju Jong-nam as Outside Director.

18 Mar 16

LG Electronics Inc.

AGM

3.2.3

For

Agenda item : Elect Kim Dae-hyeong as Outside Director.

18 Mar 16

LG Electronics Inc.

AGM

4.1.1

For

Agenda item : Elect Lee Chang-woo as Member of Audit Committee.

18 Mar 16

LG Electronics Inc.

AGM

4.1.2

For

Agenda item : Elect Ju Jong-nam as Member of Audit Committee.

18 Mar 16

LG Electronics Inc.

AGM

6

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

LG Household & Health Care Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

18 Mar 16

LG Household & Health Care Ltd.

AGM

2.1

For

Agenda item : Elect Cha Seok-yong as Inside Director.

18 Mar 16

LG Household & Health Care Ltd.

AGM

2.2

For

Agenda item : Elect Heo Seong as Inside Director.

18 Mar 16

LG Household & Health Care Ltd.

AGM

2.3

For

Agenda item : Elect Kim Ju-hyeong as Non-independent Non-executive

18 Mar 16

LG Household & Health Care Ltd.

AGM

2.4

For

Agenda item : Elect Hwang I-seok as Outside Director.

18 Mar 16

LG Household & Health Care Ltd.

AGM

2.5

For

Agenda item : Elect Han Sang-rin as Outside Director.

18 Mar 16

LG Household & Health Care Ltd.

AGM

3.1

For

Agenda item : Elect Hwang I-seok as Member of Audit Committee.

18 Mar 16

LG Household & Health Care Ltd.

AGM

3.2

For

Agenda item : Elect Han Sang-rin as Member of Audit Committee.

18 Mar 16

LG Household & Health Care Ltd.

AGM

4

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Director.

Directors. UBS note : Transparency in compensation is required. 18 Mar 16

LG Uplus Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

LG Uplus Corp.

AGM

2

For

18 Mar 16

LG Uplus Corp.

AGM

3

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled). Agenda item : Elect Seonwoo Myeong-ho as Member of Audit Committee.

18 Mar 16

LG Uplus Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

Lotte Chemical Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Lotte Chemical Corp.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Lotte Chemical Corp.

AGM

3

For

Agenda item : Elect One Inside Director and Three Outside Directors

18 Mar 16

Lotte Chemical Corp.

AGM

4

For

Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

Lotte Chemical Corp.

AGM

5

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside

UBS note : Not in shareholders' interests. (Bundled).

Directors. UBS note : Transparency in compensation is desired. 18 Mar 16

Lotte Shopping Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Lotte Shopping Co.

AGM

2.1

For

Agenda item : Elect Four Inside Directors (Bundled). Agenda item : Elect Four Outside Directors (Bundled).

18 Mar 16

Lotte Shopping Co.

AGM

2.2

For

18 Mar 16

Lotte Shopping Co.

AGM

2.3

For

Agenda item : Elect Three Members of Audit Committee.

18 Mar 16

Lotte Shopping Co.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

Mando Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Mando Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation. Agenda item : Elect Lee Cheol-young as Inside Director.

18 Mar 16

Mando Corp.

AGM

3

For

18 Mar 16

Mando Corp.

AGM

4

For

Agenda item : Elect Lee Jong-hwi as Member of Audit Committee.

18 Mar 16

Mando Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

NAVER Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

NAVER Corp.

AGM

2.1

For

Agenda item : Elect Kim Su-wook as Outside Director.

18 Mar 16

NAVER Corp.

AGM

2.2

For

Agenda item : Elect Jeong Ui-jong as Outside Director.

18 Mar 16

NAVER Corp.

AGM

2.3

For

Agenda item : Elect Hong Jun-pyo as Outside Director.

18 Mar 16

NAVER Corp.

AGM

3.1

For

Agenda item : Elect Kim Su-wook as Member of Audit Committee.

18 Mar 16

NAVER Corp.

AGM

3.2

For

Agenda item : Elect Jeong Ui-jong as Member of Audit Committee.

18 Mar 16

NAVER Corp.

AGM

3.3

For

Agenda item : Elect Hong Jun-pyo as Member of Audit Committee.

18 Mar 16

NAVER Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

New World Development Co. Ltd.

EGM

1

For

18 Mar 16

Nongshim Co. Ltd.

AGM

1

For

Agenda item : Elect Yoon Seok-cheol as Outside Director.

18 Mar 16

Nongshim Co. Ltd.

AGM

2

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

S-Oil Corp.

AGM

1

Opposed

Directors. Agenda item : Approve Share Offer, Option Offer and Related Transactions.

Directors. Agenda item : Approve Financial Statements and Allocation of Income.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

S-Oil Corp.

AGM

2

For

Agenda item : Elect One Inside Director, Four Non-independent Non-executive

18 Mar 16

S-Oil Corp.

AGM

3

For

Agenda item : Elect Four Members of Audit Committee.

18 Mar 16

S-Oil Corp.

AGM

4

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Directors, and Six Outside Directors (Bundled).

Directors. UBS note : Transparency in compensation is desired. 18 Mar 16

SK Holdings Co., Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

SK Holdings Co., Ltd.

AGM

2.1

Opposed

Agenda item : Elect Chey Tae-won as Inside Director. UBS note : The election of this nominee to the board would not serve the interests of long term investors.

18 Mar 16

SK Holdings Co., Ltd.

AGM

2.2

Opposed

Agenda item : Elect Lee Yong-hui as Outside Director.

18 Mar 16

SK Holdings Co., Ltd.

AGM

3

Opposed

Agenda item : Elect Lee Yong-hui as Member of Audit Committee.

18 Mar 16

SK Holdings Co., Ltd.

AGM

4

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside

UBS note : Failed to act in the interest of shareholders. UBS note : Failed to act in the interest of shareholders. Directors. UBS note : Transparency in compensation is desired. 18 Mar 16

SK Holdings Co., Ltd.

AGM

5

For

Agenda item : Approve Terms of Retirement Pay.

18 Mar 16

SK Hynix Inc.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income. Agenda item : Elect Kim Jun-ho as Inside Director.

18 Mar 16

SK Hynix Inc.

AGM

2.1

For

18 Mar 16

SK Hynix Inc.

AGM

2.2

For

Agenda item : Elect Park Jeong-ho as Inside Director.

18 Mar 16

SK Hynix Inc.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

SK Hynix Inc.

AGM

4

For

18 Mar 16

SK Innovation Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Terms of Retirement Pay. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

SK Innovation Co. Ltd.

AGM

2.1

For

Agenda item : Elect Kim Chang-geun as Inside Director.

18 Mar 16

SK Innovation Co. Ltd.

AGM

2.2

For

Agenda item : Elect Yoo Jeong-jun as Inside Director.

18 Mar 16

SK Innovation Co. Ltd.

AGM

2.3

For

Agenda item : Elect Shin Eon as Outside Director.

18 Mar 16

SK Innovation Co. Ltd.

AGM

2.4

For

Agenda item : Elect Kim Jun as Outside Director.

18 Mar 16

SK Innovation Co. Ltd.

AGM

2.5

For

Agenda item : Elect Ha Yoon-gyeong as Outside Director.

18 Mar 16

SK Innovation Co. Ltd.

AGM

3.1

For

Agenda item : Elect Han Min-hui as Member of Audit Committee.

18 Mar 16

SK Innovation Co. Ltd.

AGM

3.2

For

Agenda item : Elect Kim Jun as Member of Audit Committee.

18 Mar 16

SK Innovation Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

SK Innovation Co. Ltd.

AGM

5

For

Agenda item : Approve Terms of Retirement Pay.

18 Mar 16

SK Networks Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Directors.

UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

SK Networks Co. Ltd.

AGM

2.1

For

Agenda item : Elect Choi Shin-won as Inside Director.

18 Mar 16

SK Networks Co. Ltd.

AGM

2.2

For

Agenda item : Elect Cho Dae-sik as Non-independent Non-executive Director.

18 Mar 16

SK Networks Co. Ltd.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

SK Networks Co. Ltd.

AGM

4

For

Agenda item : Approve Terms of Retirement Pay.

18 Mar 16

SK Telecom Co.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Directors.

UBS note : The company failed to provide audited financial statements in a timely manner. 18 Mar 16

SK Telecom Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

SK Telecom Co.

AGM

3.1

For

Agenda item : Elect Cho Dae-sik as Inside Director.

18 Mar 16

SK Telecom Co.

AGM

3.2

For

Agenda item : Elect Oh Dae-sik as Outside Director.

18 Mar 16

SK Telecom Co.

AGM

4

For

Agenda item : Elect Oh Dae-sik as Member of Audit Committee.

18 Mar 16

SK Telecom Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

SK Telecom Co.

AGM

6

For

18 Mar 16

SKC Ltd.

AGM

1

Opposed

Agenda item : Approve Terms of Retirement Pay. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

18 Mar 16

SKC Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

SKC Ltd.

AGM

3

Opposed

Agenda item : Approve Terms of Retirement Pay. UBS note : Scope of eligibility is too broad.

18 Mar 16

SKC Ltd.

AGM

4.1

For

Agenda item : Elect Two Inside Directors (Bundled).

18 Mar 16

SKC Ltd.

AGM

4.2

For

Agenda item : Elect Two Outside Directors (Bundled).

18 Mar 16

SKC Ltd.

AGM

5

For

Agenda item : Elect Two Members of Audit Committee.

18 Mar 16

SKC Ltd.

AGM

6

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

3.1

For

Agenda item : Elect Park Dae-young as Inside Director. Agenda item : Elect Park Bong-heum as Outside Director.

Directors.

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

3.2

For

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

4

For

Agenda item : Elect Yoo Jae-han as Member of Audit Committee.

18 Mar 16

Samsung Heavy Industries Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

18 Mar 16

Yuhan Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

18 Mar 16

Yuhan Corp.

AGM

2

For

18 Mar 16

Yuhan Corp.

AGM

3

For

22 Mar 16

Korea Electric Power Corp.

AGM

1

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s). Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

22 Mar 16

Korea Electric Power Corp.

AGM

2

For

24 Mar 16

LG Hausys Ltd.

AGM

1

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

24 Mar 16

LG Hausys Ltd.

AGM

2

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled).

24 Mar 16

LG Hausys Ltd.

AGM

3

For

Agenda item : Elect Kim Young-ik as Member of Audit Committee.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

24 Mar 16

LG Hausys Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

1

For

Directors. Agenda item : Approve Financial Statements and Allocation of Income.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.1

For

Agenda item : Elect Nam Goong-hun as Non-independent Non-executive

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.2

For

Agenda item : Elect Ko Bu-in as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.3

For

Agenda item : Elect Lee Man-woo as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.4

For

Agenda item : Elect Lee Sang-gyeong as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.5

For

Agenda item : Elect Lee Seong-ryang as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.6

For

Agenda item : Elect Lee Jeong-il as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

3.7

For

Agenda item : Elect Lee Heun-ya as Outside Director.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

4.1

For

Agenda item : Elect Lee Man-woo as Member of Audit Committee.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

4.2

For

Agenda item : Elect Lee Sang-gyeong as Member of Audit Committee.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

4.3

For

Agenda item : Elect Lee Seong-ryang as Member of Audit Committee.

24 Mar 16

Shinhan Financial Group Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

BGF Retail Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

BGF Retail Co. Ltd.

AGM

2.1

For

Agenda item : Elect Kim Hyeon-cheol as Outside Director.

25 Mar 16

BGF Retail Co. Ltd.

AGM

2.2.1

For

Agenda item : Elect Park Jae-gu as Inside Director.

25 Mar 16

BGF Retail Co. Ltd.

AGM

2.2.2

For

Agenda item : Elect Lee Geon-jun as Inside Director.

25 Mar 16

BGF Retail Co. Ltd.

AGM

2.2.3

For

Agenda item : Elect Hong Jeong-guk as Inside Director.

25 Mar 16

BGF Retail Co. Ltd.

AGM

3.1

For

Agenda item : Appoint Lee Chun-seong as Internal Auditor.

25 Mar 16

BGF Retail Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

BGF Retail Co. Ltd.

AGM

5

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

25 Mar 16

BNK Financial Group Inc.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income.

Director.

Directors.

Directors.

UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

BNK Financial Group Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

BNK Financial Group Inc.

AGM

3.1

For

Agenda item : Elect Seong Se-hwan as Inside Director.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

BNK Financial Group Inc.

AGM

3.2

For

Agenda item : Elect Jeong Min-ju as Inside Director.

25 Mar 16

BNK Financial Group Inc.

AGM

3.3

For

Agenda item : Elect Kim Chang-su as Outside Director.

25 Mar 16

BNK Financial Group Inc.

AGM

3.4

For

Agenda item : Elect Cha Yong-gyu as Outside Director.

25 Mar 16

BNK Financial Group Inc.

AGM

3.5

For

Agenda item : Elect Moon Il-jae as Outside Director.

25 Mar 16

BNK Financial Group Inc.

AGM

3.6

For

Agenda item : Elect Kim Chan-hong as Outside Director.

25 Mar 16

BNK Financial Group Inc.

AGM

4.1

For

Agenda item : Elect Kim Chang-su as Member of Audit Committee.

25 Mar 16

BNK Financial Group Inc.

AGM

4.2

For

Agenda item : Elect Cha Yong-gyu as Member of Audit Committee.

25 Mar 16

BNK Financial Group Inc.

AGM

4.3

For

Agenda item : Elect Moon Il-jae as Member of Audit Committee.

25 Mar 16

BNK Financial Group Inc.

AGM

4.4

For

Agenda item : Elect Kim Chan-hong as Member of Audit Committee.

25 Mar 16

BNK Financial Group Inc.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

25 Mar 16

Celltrion Inc.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Celltrion Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Celltrion Inc.

AGM

3.1

For

Agenda item : Elect Lee Gyeong-ho as Non-independent Non-executive

25 Mar 16

Celltrion Inc.

AGM

3.2

For

Agenda item : Elect Kim Dong-il as Outside Director.

25 Mar 16

Celltrion Inc.

AGM

3.3

For

Agenda item : Elect Lee Joseph as Outside Director.

Director.

25 Mar 16

Celltrion Inc.

AGM

3.4

For

Agenda item : Elect Lee Jong-seok as Outside Director.

25 Mar 16

Celltrion Inc.

AGM

3.5

For

Agenda item : Elect Jeon Byeong-hun as Outside Director.

25 Mar 16

Celltrion Inc.

AGM

3.6

For

Agenda item : Elect Cho Gyun-seok as Outside Director.

25 Mar 16

Celltrion Inc.

AGM

3.7

For

Agenda item : Elect Cho Hong-hui as Outside Director.

25 Mar 16

Celltrion Inc.

AGM

4.1

For

Agenda item : Elect Lee Joseph as Member of Audit Committee.

25 Mar 16

Celltrion Inc.

AGM

4.2

For

Agenda item : Elect Kim Dong-il as Member of Audit Committee.

25 Mar 16

Celltrion Inc.

AGM

4.3

For

Agenda item : Elect Lee Jong-seok as Member of Audit Committee.

25 Mar 16

Celltrion Inc.

AGM

4.4

For

Agenda item : Elect Cho Gyun-seok as Member of Audit Committee.

25 Mar 16

Celltrion Inc.

AGM

4.5

For

Agenda item : Elect Cho Hong-hui as Member of Audit Committee.

25 Mar 16

Celltrion Inc.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Celltrion Inc.

AGM

6

For

Directors. Agenda item : Approve Stock Option Grants.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

25 Mar 16

DGB Financial Group Co Ltd

AGM

1

Opposed

Comments Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

DGB Financial Group Co Ltd

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

DGB Financial Group Co Ltd

AGM

3.1

For

Agenda item : Elect Noh Seong-seok as Inside Director.

25 Mar 16

DGB Financial Group Co Ltd

AGM

3.2

For

Agenda item : Elect Cho Hae-nyeong as Outside Director.

25 Mar 16

DGB Financial Group Co Ltd

AGM

3.3

For

Agenda item : Elect Kim Ssang-su as Outside Director.

25 Mar 16

DGB Financial Group Co Ltd

AGM

3.4

For

Agenda item : Elect Lee Jae-dong as Outside Director.

25 Mar 16

DGB Financial Group Co Ltd

AGM

3.5

For

Agenda item : Elect Koo Bon-seong as Outside Director.

25 Mar 16

DGB Financial Group Co Ltd

AGM

4.1

For

Agenda item : Elect Kim Ssang-su as Member of Audit Committee.

25 Mar 16

DGB Financial Group Co Ltd

AGM

4.2

For

Agenda item : Elect Lee Jae-dong as Member of Audit Committee.

25 Mar 16

DGB Financial Group Co Ltd

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Daelim Industrial Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Daelim Industrial Co.

AGM

2

For

25 Mar 16

Daelim Industrial Co.

AGM

3

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled). Agenda item : Elect Park Sang-wook as Member of Audit Committee.

25 Mar 16

Daelim Industrial Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Daewoo Engineering & Construction Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Daewoo Engineering & Construction Co.

AGM

2

For

Agenda item : Elect Jeong Seon-tae as Outside Director.

25 Mar 16

Daewoo Engineering & Construction Co.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Daewoo Securities Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Daewoo Securities Co.

AGM

2.1

For

Agenda item : Amend Articles of Incorporation (Director Nomination).

25 Mar 16

Daewoo Securities Co.

AGM

2.2

For

Agenda item : Amend Articles of Incorporation (Board Resolution).

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Amend Articles of Incorporation (Miscellaneous).

25 Mar 16

Daewoo Securities Co.

AGM

2.3

For

25 Mar 16

Daewoo Securities Co.

AGM

3

For

Agenda item : Elect Hwang Geon-ho as Outside Director.

25 Mar 16

Daewoo Securities Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Doosan Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Doosan Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Doosan Co.

AGM

3

For

Agenda item : Elect Two Outside Directors (Bundled).

25 Mar 16

Doosan Co.

AGM

4

For

Agenda item : Elect Kim Chang-hwan as Member of Audit Committee.

25 Mar 16

Doosan Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Doosan Heavy Industries & Construction Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Doosan Heavy Industries & Construction Co.

AGM

2

For

25 Mar 16

Doosan Heavy Industries & Construction Co.

AGM

3

For

Agenda item : Elect Two Outside Directors (Bundled). Agenda item : Elect Three Members of Audit Committee.

25 Mar 16

Doosan Heavy Industries & Construction Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

25 Mar 16

Doosan Infracore Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Doosan Infracore Co. Ltd.

AGM

2

Opposed

Agenda item : Elect Park Yong-man as Inside Director.

25 Mar 16

Doosan Infracore Co. Ltd.

AGM

3

For

Agenda item : Elect Yoon Jeung-hyeon as Member of Audit Committee.

25 Mar 16

Doosan Infracore Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

UBS note : Nominee currently sits on an excessive number of boards.

Directors. 25 Mar 16

Doosan Infracore Co. Ltd.

AGM

5

For

25 Mar 16

Hana Financial Group Inc.

AGM

1

Opposed

Agenda item : Approve Sale of Company Assets. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Hana Financial Group Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Hana Financial Group Inc.

AGM

3.1

For

Agenda item : Elect Yoon Jong-nam as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.2

For

Agenda item : Elect Park Moon-gyu as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.3

For

Agenda item : Elect Song Gi-jin as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.4

For

Agenda item : Elect Kim In-bae as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.5

For

Agenda item : Elect Hong Eun-ju as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.6

For

Agenda item : Elect Park Won-gu as Outside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.7

For

Agenda item : Elect Kim Byeong-ho as Inside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

3.8

For

Agenda item : Elect Hahm Young-ju as Inside Director.

25 Mar 16

Hana Financial Group Inc.

AGM

4.1

For

Agenda item : Elect Park Moon-gyu as Member of Audit Committee.

25 Mar 16

Hana Financial Group Inc.

AGM

4.2

For

Agenda item : Elect Kim In-bae as Member of Audit Committee. Agenda item : Elect Yoon Seong-bok as Member of Audit Committee.

25 Mar 16

Hana Financial Group Inc.

AGM

4.3

For

25 Mar 16

Hana Financial Group Inc.

AGM

4.4

For

Agenda item : Elect Yang Won-geun as Member of Audit Committee.

25 Mar 16

Hana Financial Group Inc.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

25 Mar 16

Hankook Tire Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Hankook Tire Co. Ltd.

AGM

2

For

25 Mar 16

Hanwha Chemical Corp.

AGM

1

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Hanwha Chemical Corp.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Hanwha Chemical Corp.

AGM

3

For

Agenda item : Elect Two Inside Directors and One Outside Director (Bundled).

25 Mar 16

Hanwha Chemical Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Hanwha Techwin Co., Ltd.

AGM

1

Opposed

UBS note : Not in shareholders' interests.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Hanwha Techwin Co., Ltd.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Hanwha Techwin Co., Ltd.

AGM

3

For

25 Mar 16

Hanwha Techwin Co., Ltd.

AGM

4

For

Agenda item : Elect Seok Ho-cheol as Member of Audit Committee.

25 Mar 16

Hanwha Techwin Co., Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Hite Jinro Ltd.

AGM

1

Opposed

UBS note : Not in shareholders' interests. Agenda item : Elect Seok Ho-cheol as Outside Director.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Hite Jinro Ltd.

AGM

2

For

Agenda item : Elect Cho Pan-je as Outside Director.

25 Mar 16

Hite Jinro Ltd.

AGM

3

For

Agenda item : Elect Cho Pan-je as Member of Audit Committee.

25 Mar 16

Hite Jinro Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Hyundai Development Co. - Engineering &

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income.

Construction UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Hyundai Development Co. - Engineering &

AGM

2.1

For

Construction 25 Mar 16

Hyundai Development Co. - Engineering &

Shares). AGM

2.2

For

AGM

2.3

For

Construction 25 Mar 16

Hyundai Development Co. - Engineering & Hyundai Development Co. - Engineering & Hyundai Development Co. - Engineering &

Agenda item : Amend Articles of Incorporation (Clarification of Non-voting Preferred Convertible Class Share).

AGM

2.4

For

AGM

3.1

For

Agenda item : Elect Kim Jae-sik as Inside Director.

AGM

3.2

For

Agenda item : Elect Yook Geun-yang as Inside Director.

AGM

3.3

For

Agenda item : Elect Park Soon-seong as Outside Director.

Construction 25 Mar 16

Agenda item : Amend Articles of Incorporation (Clarification of Non-voting Preferred Class Share).

Construction 25 Mar 16

Agenda item : Amend Articles of Incorporation (Clarification of Issuable Class

Agenda item : Amend Articles of Incorporation (Clarification of Non-voting Preferred Redeemable Class Share).

Construction 25 Mar 16

Hyundai Development Co. - Engineering & Construction

25 Mar 16

Hyundai Development Co. - Engineering & Construction

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Hyundai Development Co. - Engineering &

AGM

3.4

For

Agenda item : Elect Jeong Hyeong-min as Outside Director.

AGM

4

For

Agenda item : Elect Park Soon-seong as Member of Audit Committee.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

AGM

1

Opposed

Construction 25 Mar 16

Hyundai Development Co. - Engineering & Construction

25 Mar 16

Hyundai Development Co. - Engineering & Construction

25 Mar 16

Hyundai Heavy Industries Co.

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Hyundai Heavy Industries Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Hyundai Heavy Industries Co.

AGM

3

For

Agenda item : Elect Two Inside Directors and Two Outside Directors (Bundled).

25 Mar 16

Hyundai Heavy Industries Co.

AGM

4

For

Agenda item : Elect Hong Gi-hyeon as Member of Audit Committee.

25 Mar 16

Hyundai Heavy Industries Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.1

For

Agenda item : Elect Chung Mong-yoon as Inside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.2

For

Agenda item : Elect Lee Cheol-young as Inside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.3

For

Agenda item : Elect Park Chan-jong as Inside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.4

For

Agenda item : Elect Seong In-seok as Inside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.5

For

Agenda item : Elect Song Yoo-jin as Outside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.6

For

Agenda item : Elect Kim Hui-dong as Outside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

3.7

For

Agenda item : Elect Jin Young-ho as Outside Director.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

4

For

Agenda item : Elect Kim Hui-dong as Member of Audit Committee.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

5

For

Agenda item : Elect Seong In-seok as Member of Audit Committee.

25 Mar 16

Hyundai Marine & Fire Insurance Co. Ltd.

AGM

6

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Industrial Bank of Korea

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

Industrial Bank of Korea

AGM

2

For

Agenda item : Amend Articles of Incorporation.

Directors.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Industrial Bank of Korea

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Industrial Bank of Korea

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

25 Mar 16

KB Financial Group Inc.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

KB Financial Group Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

KB Financial Group Inc.

AGM

3.1

For

Agenda item : Elect Choi Young-hwi as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.2

For

Agenda item : Elect Choi Woon-yeol as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.3

For

Agenda item : Elect Yoo Seok-ryeol as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.4

For

Agenda item : Elect Lee Byeong-nam as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.5

For

Agenda item : Elect Park Jae-ha as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.6

For

Agenda item : Elect Kim Eunice Gyeong-hui as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

3.7

For

Agenda item : Elect Han Jong-su as Outside Director.

25 Mar 16

KB Financial Group Inc.

AGM

4.1

For

Agenda item : Elect Choi Young-hwi as Member of Audit Committee.

25 Mar 16

KB Financial Group Inc.

AGM

4.2

For

Agenda item : Elect Choi Woon-yeol as Member of Audit Committee.

25 Mar 16

KB Financial Group Inc.

AGM

4.3

For

Agenda item : Elect Kim Eunice Gyeong-hui as Member of Audit Committee.

25 Mar 16

KB Financial Group Inc.

AGM

4.4

For

Agenda item : Elect Han Jong-su as Member of Audit Committee.

25 Mar 16

KB Financial Group Inc.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

KT Corp.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

Directors.

Directors. 25 Mar 16

KT Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

KT Corp.

AGM

3.1

For

Agenda item : Elect Lim Heon-mun as Inside Director.

25 Mar 16

KT Corp.

AGM

3.2

For

Agenda item : Elect Koo Hyeon-mo as Inside Director.

25 Mar 16

KT Corp.

AGM

3.3

For

Agenda item : Elect Song Doh-gyun as Outside Director.

25 Mar 16

KT Corp.

AGM

3.4

For

Agenda item : Elect Cha Sang-gyun as Outside Director.

25 Mar 16

KT Corp.

AGM

3.5

For

Agenda item : Elect Kim Dae-ho as Outside Director.

25 Mar 16

KT Corp.

AGM

4

For

Agenda item : Elect Cha Sang-gyun as Member of Audit Committee.

25 Mar 16

KT Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

KT Corp.

AGM

6

For

Agenda item : Approve Terms of Retirement Pay.

25 Mar 16

Korea Investment Holdings Co.

AGM

1

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Korea Investment Holdings Co.

AGM

2.1

For

Agenda item : Elect Kim Nam-gu as Inside Director.

Directors.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Korea Investment Holdings Co.

AGM

2.2

For

Agenda item : Elect Kim Ju-won as Inside Director.

25 Mar 16

Korea Investment Holdings Co.

AGM

2.3

For

Agenda item : Elect Lee Kang-haeng as Inside Director.

25 Mar 16

Korea Investment Holdings Co.

AGM

2.4

For

Agenda item : Elect Bae Jong-seok as Outside Director.

25 Mar 16

Korea Investment Holdings Co.

AGM

2.5

For

Agenda item : Elect Lee Sang-cheol as Outside Director.

25 Mar 16

Korea Investment Holdings Co.

AGM

3.1

For

Agenda item : Elect Lee Sang-cheol as Member of Audit Committee.

25 Mar 16

Korea Investment Holdings Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

25 Mar 16

Korea Zinc Co. Ltd.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Korea Zinc Co. Ltd.

AGM

2

For

Agenda item : Elect One Inside Director, One Non-independent Non-executive

25 Mar 16

Korea Zinc Co. Ltd.

AGM

3

For

Agenda item : Elect Kim Jong-soon as Member of Audit Committee.

25 Mar 16

Korea Zinc Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Director, and Three Outside Directors (Bundled).

Directors. 25 Mar 16

LG Corp.

AGM

1

Opposed

Agenda item : Approve Financial Statements and Allocation of Income. UBS note : In certain instances when we do not have enough information we may choose to abstain or vote against a particular proposal.

25 Mar 16

LG Corp.

AGM

2

For

Agenda item : Elect Two Inside Directors and Two Outside Directors (Bundled).

25 Mar 16

LG Corp.

AGM

3

For

Agenda item : Elect Choi Sang-tae as Member of Audit Committee.

25 Mar 16

LG Corp.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

LS Corp.

AGM

1

For

Directors. Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

LS Corp.

AGM

2

For

Agenda item : Elect Koo Ja-yeop as Inside Director.

25 Mar 16

LS Corp.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Lotte Chilsung Beverage Co.

AGM

2.1

For

Agenda item : Elect Lee Young-gu as Inside Director.

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

2.2

For

Agenda item : Elect Lee Seok-yoon as Outside Director.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

2.3

For

Agenda item : Elect Chae Gyeong-su as Outside Director.

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

3.1

For

Agenda item : Elect Lee Seok-yoon as Member of Audit Committee.

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

3.2

For

Agenda item : Elect Chae Gyeong-su as Member of Audit Committee.

25 Mar 16

Lotte Chilsung Beverage Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Lotte Confectionery Co.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

Lotte Confectionery Co.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Lotte Confectionery Co.

AGM

3.1

For

25 Mar 16

Lotte Confectionery Co.

AGM

3.2

For

Agenda item : Elect Two Outside Directors (Bundled).

25 Mar 16

Lotte Confectionery Co.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

NCsoft Corp.

AGM

1

Opposed

UBS note : Not in shareholders' interests. Agenda item : Elect Four Inside Directors (Bundled).

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

NCsoft Corp.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation. UBS note : Not in shareholders' interests.

25 Mar 16

NCsoft Corp.

AGM

3

For

Agenda item : Elect Park Byeong-mu as Non-independent Non-executive

25 Mar 16

NCsoft Corp.

AGM

4

For

Agenda item : Elect Three Outside Directors (Bundled).

25 Mar 16

NCsoft Corp.

AGM

5

For

Agenda item : Elect Three Members of Audit Committee.

25 Mar 16

NCsoft Corp.

AGM

6

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

3.1

For

Agenda item : Elect Jeong Young-cheol as Outside Director.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

3.2

For

Agenda item : Elect Ahn Deok-geun as Outside Director.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

3.3

For

Agenda item : Elect Lee Jeong-jae as Outside Director.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

3.4

For

Agenda item : Elect Park Sang-yong as Outside Director.

Director.

Directors.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Elect Lee Jeong-jae as Member of Audit Committee.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

4.1

For

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

4.2

For

Agenda item : Elect Park Sang-yong as Member of Audit Committee.

25 Mar 16

NH Investment & Securities Co. Ltd.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

NHN Entertainment Corp.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 25 Mar 16

NHN Entertainment Corp.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

NHN Entertainment Corp.

AGM

3.1

For

Agenda item : Elect Lee Jun-ho as Inside Director.

25 Mar 16

NHN Entertainment Corp.

AGM

3.2

For

Agenda item : Elect Ahn Hyeon-sik as Inside Director.

25 Mar 16

NHN Entertainment Corp.

AGM

4.1

For

Agenda item : Elect Lee Jun-young as Outside Director.

25 Mar 16

NHN Entertainment Corp.

AGM

4.2

For

Agenda item : Elect Han Jeong-su as Outside Director.

25 Mar 16

NHN Entertainment Corp.

AGM

4.3

For

Agenda item : Elect Lee Seok-woo as Outside Director.

25 Mar 16

NHN Entertainment Corp.

AGM

5.1

For

Agenda item : Elect Lee Jun-young as Member of Audit Committee.

25 Mar 16

NHN Entertainment Corp.

AGM

5.2

For

Agenda item : Elect Han Jeong-su as Member of Audit Committee.

25 Mar 16

NHN Entertainment Corp.

AGM

5.3

For

Agenda item : Elect Lee Seok-woo as Member of Audit Committee.

25 Mar 16

NHN Entertainment Corp.

AGM

6

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. UBS note : In certain instances when we do not have enough information we may choose to abstain or vote against a particular proposal.

25 Mar 16

NHN Entertainment Corp.

AGM

7

For

25 Mar 16

Orion Corp.

AGM

1

Opposed

Agenda item : Approve Stock Option Grants. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

25 Mar 16

Orion Corp.

AGM

2

For

Agenda item : Elect One Inside Director and One Outside Director (Bundled).

25 Mar 16

Orion Corp.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors.

25 Mar 16

Orion Corp.

AGM

4

For

25 Mar 16

Paradise Co.

AGM

1

Opposed

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s). Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Elect Jeong Yeon-su as Inside Director.

25 Mar 16

Paradise Co.

AGM

2.1

For

25 Mar 16

Paradise Co.

AGM

2.2

For

Agenda item : Elect Choi Young-il as Outside Director.

25 Mar 16

Paradise Co.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

25 Mar 16

Paradise Co.

AGM

4

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

25 Mar 16

Woori Bank

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

25 Mar 16

Woori Bank

AGM

2

For

Agenda item : Amend Articles of Incorporation.

25 Mar 16

Woori Bank

AGM

3.1

For

Agenda item : Elect Lee Dong-geun as Inside Director.

25 Mar 16

Woori Bank

AGM

3.2

For

Agenda item : Elect Nam Gi-myeong as Inside Director.

25 Mar 16

Woori Bank

AGM

3.3

For

Agenda item : Elect Choi Gwang-woo as Non-independent Non-executive

Directors.

Director. 25 Mar 16

Woori Bank

AGM

3.4

For

Agenda item : Elect Lee Ho-geun as Outside Director.

25 Mar 16

Woori Bank

AGM

3.5

For

Agenda item : Elect Kim Seong-yong as Outside Director.

25 Mar 16

Woori Bank

AGM

4

For

Agenda item : Elect Kim Seong-yong as Member of Audit Committee.

25 Mar 16

Woori Bank

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

28 Mar 16

KEPCO Engineering & Construction Co. Inc.

AGM

1

Opposed

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 28 Mar 16

KEPCO Engineering & Construction Co. Inc.

AGM

2

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

28 Mar 16

KEPCO Engineering & Construction Co. Inc.

AGM

3

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

28 Mar 16

KEPCO Plant Service & Engineering Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

28 Mar 16

KEPCO Plant Service & Engineering Co. Ltd.

AGM

2

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

28 Mar 16

KEPCO Plant Service & Engineering Co. Ltd.

AGM

3

For

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s).

29 Mar 16

Coway Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

Directors.

Directors.

29 Mar 16

Coway Co. Ltd.

AGM

2

For

Agenda item : Approve Stock Option Grants.

29 Mar 16

Coway Co. Ltd.

AGM

3.1

For

Agenda item : Elect Choi Yeon-seok as Non-independent Non-executive

29 Mar 16

Coway Co. Ltd.

AGM

3.2

For

Director. Agenda item : Elect Lee Jung-sik as Outside Director.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

29 Mar 16

Coway Co. Ltd.

AGM

3.3

For

Agenda item : Elect Lee Jun-ho as Outside Director.

29 Mar 16

Coway Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

Comments

Directors. 29 Mar 16

Coway Co. Ltd.

AGM

5

For

29 Mar 16

Korea Gas Corp.

AGM

1

Opposed

Agenda item : Authorise Board to Fix Remuneration of Internal Auditor(s). Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

29 Mar 16

Korea Gas Corp.

AGM

2

For

30 Mar 16

Daewoo Shipbuilding & Marine Engineering Co.

AGM

1

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

30 Mar 16

Daewoo Shipbuilding & Marine Engineering Co.

AGM

2

Opposed

Agenda item : Amend Articles of Incorporation.

30 Mar 16

Daewoo Shipbuilding & Marine Engineering Co.

AGM

3

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Daewoo Shipbuilding & Marine Engineering Co.

AGM

4

For

30 Mar 16

Hanon Systems

AGM

1

Opposed

UBS note : Lack of details available regarding this proposal. Directors. Agenda item : Approve Terms of Retirement Pay. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 30 Mar 16

Hanon Systems

AGM

2

For

30 Mar 16

Kakao Corp.

AGM

1

Opposed

Agenda item : Approve Total Remuneration of Inside Directors and Outside Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner.

30 Mar 16

Kakao Corp.

AGM

2.1

For

Agenda item : Amend Articles of Incorporation (Business Objectives).

30 Mar 16

Kakao Corp.

AGM

2.2

For

Agenda item : Amend Articles of Incorporation (Authorised Capital).

30 Mar 16

Kakao Corp.

AGM

2.3

Opposed

Agenda item : Amend Articles of Incorporation (Issuance of New Shares).

30 Mar 16

Kakao Corp.

AGM

2.4

For

Agenda item : Amend Articles of Incorporation (Issuance of Convertible

UBS note : Lack of details available regarding this proposal. Securities).

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Kakao Corp.

AGM

2.5

For

Agenda item : Amend Articles of Incorporation (Shareholder Resolution).

30 Mar 16

Kakao Corp.

AGM

2.6

For

Agenda item : Amend Articles of Incorporation (Board Size).

30 Mar 16

Kakao Corp.

AGM

2.7

For

Agenda item : Amend Articles of Incorporation (Others).

30 Mar 16

Kakao Corp.

AGM

3.1

For

Agenda item : Elect Kang Seong as Inside Director.

30 Mar 16

Kakao Corp.

AGM

3.2

For

Agenda item : Elect Lee Gyu-cheol as Outside Director.

30 Mar 16

Kakao Corp.

AGM

4.1

For

Agenda item : Elect Cho Min-sik as Member of Audit Committee.

30 Mar 16

Kakao Corp.

AGM

4.2

For

Agenda item : Elect Choi Jae-hong as Member of Audit Committee.

30 Mar 16

Kakao Corp.

AGM

4.3

For

Agenda item : Elect Choi Jun-ho as Member of Audit Committee.

30 Mar 16

Kakao Corp.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Kangwon Land Inc.

AGM

1

For

Directors. Agenda item : Approve Financial Statements and Allocation of Income.

30 Mar 16

Kangwon Land Inc.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

30 Mar 16

Kangwon Land Inc.

AGM

3.1

For

Agenda item : Elect Three Non-independent Non-executive Directors

30 Mar 16

Kangwon Land Inc.

AGM

3.2

For

Agenda item : Elect Two Outside Directors (Bundled).

30 Mar 16

Kangwon Land Inc.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Mirae Asset Securities Co.

AGM

1

Opposed

(Bundled).

Directors. Agenda item : Approve Financial Statements and Allocation of Income. UBS note : The company failed to provide audited financial statements in a timely manner. 30 Mar 16

Mirae Asset Securities Co.

AGM

2

For

Agenda item : Amend Articles of Incorporation.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.1.1

For

Agenda item : Elect Cho Woong-gi as Inside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.1.2

For

Agenda item : Elect Byun Jae-sang as Inside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.1.3

For

Agenda item : Elect Lee Gwang-seop as Inside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.2.1

For

Agenda item : Elect Park Jeong-chan as Outside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.2.2

For

Agenda item : Elect Hong Song-il as Outside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.2.3

For

Agenda item : Elect Cho Rae-hyeong as Outside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

3.2.4

For

Agenda item : Elect Jeong Yoon-taek as Outside Director.

30 Mar 16

Mirae Asset Securities Co.

AGM

4.1.1

For

Agenda item : Elect Lee Gwang-seop as Member of Audit Committee.

30 Mar 16

Mirae Asset Securities Co.

AGM

4.2.1

For

Agenda item : Elect Park Jeong-chan as Member of Audit Committee.

30 Mar 16

Mirae Asset Securities Co.

AGM

4.2.2

For

Agenda item : Elect Jeong Yoon-taek as Member of Audit Committee.

Corporate governance - Asia Pacific ex-Japan proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

30 Mar 16

Mirae Asset Securities Co.

AGM

5

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Mirae Asset Securities Co.

AGM

6

Opposed

30 Mar 16

OCI Co. Ltd.

AGM

1.1

For

Agenda item : Approve Financial Statements and Allocation of Income.

30 Mar 16

OCI Co. Ltd.

AGM

1.2

For

Agenda item : Approve Financial Statements.

30 Mar 16

OCI Co. Ltd.

AGM

2.1

For

Agenda item : Elect Lee Su-young as Inside Director.

Directors. Agenda item : Approve Terms of Retirement Pay. UBS note : Transparency in compensation is desired.

30 Mar 16

OCI Co. Ltd.

AGM

2.2

For

Agenda item : Elect Lee Sang-seung as Outside Director.

30 Mar 16

OCI Co. Ltd.

AGM

2.3

For

Agenda item : Elect Park Jin-ho as Outside Director.

30 Mar 16

OCI Co. Ltd.

AGM

3.1

For

Agenda item : Elect Lee Sang-seung as Member of Audit Committee.

30 Mar 16

OCI Co. Ltd.

AGM

3.2

For

Agenda item : Elect Park Jin-ho as Member of Audit Committee.

30 Mar 16

OCI Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Samsung Engineering Co. Ltd.

AGM

1

For

Agenda item : Approve Financial Statements and Allocation of Income.

30 Mar 16

Samsung Engineering Co. Ltd.

AGM

2

For

Agenda item : Elect One Inside Director and Two Outside Directors (Bundled).

30 Mar 16

Samsung Engineering Co. Ltd.

AGM

3

For

Agenda item : Elect Kim Young-se as Member of Audit Committee.

30 Mar 16

Samsung Engineering Co. Ltd.

AGM

4

For

Agenda item : Approve Total Remuneration of Inside Directors and Outside

30 Mar 16

Samsung Engineering Co. Ltd.

AGM

5

For

Directors.

Directors. Agenda item : Amend Articles of Incorporation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Proposed Resolution to Redeem All Issued Preferred Shares.

07 Jan 16

Mylan NV

EGM

1

For

11 Jan 16

DENTSPLY International Inc.

EGM

1

For

Agenda item : Issue Shares in Connection with Acquisition.

11 Jan 16

DENTSPLY International Inc.

EGM

2

For

Agenda item : Adopt Second Amended and Restated Certificate of

11 Jan 16

DENTSPLY International Inc.

EGM

3

For

Agenda item : Advisory Vote on Golden Parachutes.

11 Jan 16

DENTSPLY International Inc.

EGM

4

For

Agenda item : Approve Omnibus Stock Plan.

11 Jan 16

DENTSPLY International Inc.

EGM

5

For

Agenda item : Adjourn Meeting.

21 Jan 16

D.R. Horton, Inc.

AGM

1a

For

Agenda item : Elect Director Donald R. Horton.

21 Jan 16

D.R. Horton, Inc.

AGM

1b

For

Agenda item : Elect Director Barbara K. Allen.

21 Jan 16

D.R. Horton, Inc.

AGM

1c

For

Agenda item : Elect Director Brad S. Anderson.

21 Jan 16

D.R. Horton, Inc.

AGM

1d

For

Agenda item : Elect Director Michael R. Buchanan.

21 Jan 16

D.R. Horton, Inc.

AGM

1e

For

Agenda item : Elect Director Michael W. Hewatt.

21 Jan 16

D.R. Horton, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

21 Jan 16

D.R. Horton, Inc.

AGM

3

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

21 Jan 16

Intuit Inc.

AGM

1a

For

Agenda item : Elect Director Eve Burton.

21 Jan 16

Intuit Inc.

AGM

1b

For

Agenda item : Elect Director Scott D. Cook.

21 Jan 16

Intuit Inc.

AGM

1c

For

Agenda item : Elect Director Richard L. Dalzell.

21 Jan 16

Intuit Inc.

AGM

1d

For

Agenda item : Elect Director Diane B. Greene.

Incorporation.

Compensation.

21 Jan 16

Intuit Inc.

AGM

1e

For

Agenda item : Elect Director Suzanne Nora Johnson.

21 Jan 16

Intuit Inc.

AGM

1f

For

Agenda item : Elect Director Dennis D. Powell.

21 Jan 16

Intuit Inc.

AGM

1g

For

Agenda item : Elect Director Brad D. Smith.

21 Jan 16

Intuit Inc.

AGM

1h

For

Agenda item : Elect Director Jeff Weiner.

21 Jan 16

Intuit Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

21 Jan 16

Intuit Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

21 Jan 16

Jabil Circuit, Inc.

AGM

1.1

For

Agenda item : Elect Director Anousheh Ansari.

Compensation. 21 Jan 16

Jabil Circuit, Inc.

AGM

1.2

For

Agenda item : Elect Director Martha F. Brooks.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.3

For

Agenda item : Elect Director Timothy L. Main.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.4

For

Agenda item : Elect Director Mark T. Mondello.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.5

For

Agenda item : Elect Director Frank A. Newman.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

21 Jan 16

Jabil Circuit, Inc.

AGM

1.6

For

Agenda item : Elect Director John C. Plant.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.7

For

Agenda item : Elect Director Steven A. Raymund.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.8

For

Agenda item : Elect Director Thomas A. Sansone.

21 Jan 16

Jabil Circuit, Inc.

AGM

1.9

For

Agenda item : Elect Director David M. Stout.

21 Jan 16

Jabil Circuit, Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

21 Jan 16

Jabil Circuit, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

21 Jan 16

Jabil Circuit, Inc.

AGM

4

For

Agenda item : Amend Omnibus Stock Plan.

21 Jan 16

Jabil Circuit, Inc.

AGM

5

For

Agenda item : Amend Executive Incentive Bonus Plan.

25 Jan 16

Edgewell Personal Care Company

AGM

1a

For

Agenda item : Elect Director David P. Hatfield.

25 Jan 16

Edgewell Personal Care Company

AGM

1b

For

Agenda item : Elect Director Daniel J. Heinrich.

25 Jan 16

Edgewell Personal Care Company

AGM

1c

For

Agenda item : Elect Director Carla C. Hendra.

25 Jan 16

Edgewell Personal Care Company

AGM

1d

For

Agenda item : Elect Director R. David Hoover.

25 Jan 16

Edgewell Personal Care Company

AGM

1e

For

Agenda item : Elect Director John C. Hunter, III.

25 Jan 16

Edgewell Personal Care Company

AGM

1f

For

Agenda item : Elect Director Rakesh Sachdev.

25 Jan 16

Edgewell Personal Care Company

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

25 Jan 16

Edgewell Personal Care Company

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

26 Jan 16

Becton, Dickinson and Company

AGM

1.1

For

Agenda item : Elect Director Basil L. Anderson.

26 Jan 16

Becton, Dickinson and Company

AGM

1.10

For

Agenda item : Elect Director Claire Pomeroy.

26 Jan 16

Becton, Dickinson and Company

AGM

1.11

For

Agenda item : Elect Director Rebecca W. Rimel.

26 Jan 16

Becton, Dickinson and Company

AGM

1.12

For

Agenda item : Elect Director Bertram L. Scott.

26 Jan 16

Becton, Dickinson and Company

AGM

1.2

For

Agenda item : Elect Director Catherine M. Burzik.

26 Jan 16

Becton, Dickinson and Company

AGM

1.3

For

Agenda item : Elect Director Vincent A. Forlenza.

26 Jan 16

Becton, Dickinson and Company

AGM

1.4

For

Agenda item : Elect Director Claire M. Fraser.

26 Jan 16

Becton, Dickinson and Company

AGM

1.5

For

Agenda item : Elect Director Christopher Jones.

26 Jan 16

Becton, Dickinson and Company

AGM

1.6

For

Agenda item : Elect Director Marshall O. Larsen.

Compensation.

26 Jan 16

Becton, Dickinson and Company

AGM

1.7

For

Agenda item : Elect Director Gary A. Mecklenburg.

26 Jan 16

Becton, Dickinson and Company

AGM

1.8

For

Agenda item : Elect Director James F. Orr.

26 Jan 16

Becton, Dickinson and Company

AGM

1.9

For

Agenda item : Elect Director Willard J. Overlock, Jr.

26 Jan 16

Becton, Dickinson and Company

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

26 Jan 16

Becton, Dickinson and Company

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

26 Jan 16

Becton, Dickinson and Company

AGM

4

Opposed

Compensation. Agenda item : Amend Omnibus Stock Plan. UBS note : The issuance of share options to non-executives is not considered good practice, as it may compromise their independence. 26 Jan 16

Hormel Foods Corporation

AGM

1.1

For

Agenda item : Elect Director Gary C. Bhojwani.

26 Jan 16

Hormel Foods Corporation

AGM

1.10

For

Agenda item : Elect Director Susan K. Nestegard.

26 Jan 16

Hormel Foods Corporation

AGM

1.11

For

Agenda item : Elect Director Dakota A. Pippins.

26 Jan 16

Hormel Foods Corporation

AGM

1.12

For

Agenda item : Elect Director Christopher J. Policinski.

26 Jan 16

Hormel Foods Corporation

AGM

1.13

For

Agenda item : Elect Director Sally J. Smith.

26 Jan 16

Hormel Foods Corporation

AGM

1.14

For

Agenda item : Elect Director James P. Snee.

26 Jan 16

Hormel Foods Corporation

AGM

1.15

For

Agenda item : Elect Director Steven A. White.

26 Jan 16

Hormel Foods Corporation

AGM

1.2

For

Agenda item : Elect Director Terrell K. Crews.

26 Jan 16

Hormel Foods Corporation

AGM

1.3

For

Agenda item : Elect Director Jeffrey M. Ettinger.

26 Jan 16

Hormel Foods Corporation

AGM

1.4

For

Agenda item : Elect Director Jody H. Feragen.

26 Jan 16

Hormel Foods Corporation

AGM

1.5

For

Agenda item : Elect Director Glenn S. Forbes.

26 Jan 16

Hormel Foods Corporation

AGM

1.6

For

Agenda item : Elect Director Stephen M. Lacy.

26 Jan 16

Hormel Foods Corporation

AGM

1.7

For

Agenda item : Elect Director John L. Morrison.

26 Jan 16

Hormel Foods Corporation

AGM

1.8

For

Agenda item : Elect Director Elsa A. Murano.

26 Jan 16

Hormel Foods Corporation

AGM

1.9

For

Agenda item : Elect Director Robert C. Nakasone.

26 Jan 16

Hormel Foods Corporation

AGM

2

For

Agenda item : Increase Authorised Common Stock.

26 Jan 16

Hormel Foods Corporation

AGM

3

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

26 Jan 16

Hormel Foods Corporation

AGM

4

For

Agenda item : Require Independent Board Chairman. UBS note : Position of Chairman and Chief Executive is combined, contrary to best practice.

26 Jan 16

METRO INC.

AGM

1.1

For

Agenda item : Elect Director Maryse Bertrand.

26 Jan 16

METRO INC.

AGM

1.10

For

Agenda item : Elect Director Eric R. La Fleche.

26 Jan 16

METRO INC.

AGM

1.11

For

Agenda item : Elect Director Christine Magee.

26 Jan 16

METRO INC.

AGM

1.12

For

Agenda item : Elect Director Marie-Jose Nadeau.

26 Jan 16

METRO INC.

AGM

1.13

For

Agenda item : Elect Director Real Raymond.

26 Jan 16

METRO INC.

AGM

1.14

For

Agenda item : Elect Director Line Rivard.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

26 Jan 16

METRO INC.

AGM

1.2

For

Agenda item : Elect Director Stephanie Coyles.

26 Jan 16

METRO INC.

AGM

1.3

For

Agenda item : Elect Director Marc DeSerres.

26 Jan 16

METRO INC.

AGM

1.4

For

Agenda item : Elect Director Claude Dussault.

26 Jan 16

METRO INC.

AGM

1.5

For

Agenda item : Elect Director Serge Ferland.

26 Jan 16

METRO INC.

AGM

1.6

For

Agenda item : Elect Director Russell Goodman.

26 Jan 16

METRO INC.

AGM

1.7

For

Agenda item : Elect Director Marc Guay.

26 Jan 16

METRO INC.

AGM

1.8

For

Agenda item : Elect Director Christian W.E. Haub.

26 Jan 16

METRO INC.

AGM

1.9

For

Agenda item : Elect Director Michel Labonte.

26 Jan 16

METRO INC.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

26 Jan 16

METRO INC.

AGM

3

For

Agenda item : Advisory Vote on Executive Compensation Approach.

27 Jan 16

CGI Group Inc.

AGM

1.1

For

Agenda item : Elect Director Alain Bouchard.

27 Jan 16

CGI Group Inc.

AGM

1.10

For

Agenda item : Elect Director Andre Imbeau.

27 Jan 16

CGI Group Inc.

AGM

1.11

For

Agenda item : Elect Director Gilles Labbe.

27 Jan 16

CGI Group Inc.

AGM

1.12

For

Agenda item : Elect Director Heather Munroe-Blum.

27 Jan 16

CGI Group Inc.

AGM

1.13

For

Agenda item : Elect Director Michael E. Roach.

27 Jan 16

CGI Group Inc.

AGM

1.14

For

Agenda item : Elect Director Joakim Westh.

27 Jan 16

CGI Group Inc.

AGM

1.2

For

Agenda item : Elect Director Bernard Bourigeaud.

27 Jan 16

CGI Group Inc.

AGM

1.3

For

Agenda item : Elect Director Jean Brassard.

27 Jan 16

CGI Group Inc.

AGM

1.4

For

Agenda item : Elect Director Dominic D'Alessandro.

27 Jan 16

CGI Group Inc.

AGM

1.5

For

Agenda item : Elect Director Paule Dore.

27 Jan 16

CGI Group Inc.

AGM

1.6

For

Agenda item : Elect Director Richard B. Evans.

27 Jan 16

CGI Group Inc.

AGM

1.7

For

Agenda item : Elect Director Julie Godin.

27 Jan 16

CGI Group Inc.

AGM

1.8

For

Agenda item : Elect Director Serge Godin.

27 Jan 16

CGI Group Inc.

AGM

1.9

For

Agenda item : Elect Director Timothy J. Hearn.

27 Jan 16

CGI Group Inc.

AGM

2

For

Agenda item : Approve Ernst & Young LLP as Auditors and Authorise Board to

27 Jan 16

CGI Group Inc.

AGM

3

For

Fix Their Remuneration. Agenda item : SP 1: Proxy Voting Disclosure, Confidentiality, and Tabulation. UBS note : While we support management, this proposal should be supported by shareholders. 27 Jan 16

CGI Group Inc.

AGM

4

For

Agenda item : SP 2: Advisory Vote to Ratify Named Executive Officers' Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : We will not try to micro-manage compensation schemes; however, we believe remuneration should not be excessive, and we will not support compensation plans that are poorly structured or otherwise egregious.

27 Jan 16

Johnson Controls, Inc.

AGM

1.1

For

Agenda item : Elect Director David P. Abney.

27 Jan 16

Johnson Controls, Inc.

AGM

1.10

For

Agenda item : Elect Director Mark P. Vergnano.

27 Jan 16

Johnson Controls, Inc.

AGM

1.2

For

Agenda item : Elect Director Natalie A. Black.

27 Jan 16

Johnson Controls, Inc.

AGM

1.3

For

Agenda item : Elect Director Julie L. Bushman.

27 Jan 16

Johnson Controls, Inc.

AGM

1.4

For

Agenda item : Elect Director Raymond L. Conner.

27 Jan 16

Johnson Controls, Inc.

AGM

1.5

For

Agenda item : Elect Director Richard Goodman.

27 Jan 16

Johnson Controls, Inc.

AGM

1.6

For

Agenda item : Elect Director Jeffrey A. Joerres.

27 Jan 16

Johnson Controls, Inc.

AGM

1.7

For

Agenda item : Elect Director William H. Lacy.

27 Jan 16

Johnson Controls, Inc.

AGM

1.8

For

Agenda item : Elect Director Alex A. Molinaroli.

27 Jan 16

Johnson Controls, Inc.

AGM

1.9

For

Agenda item : Elect Director Juan Pablo del Valle Perochena.

27 Jan 16

Johnson Controls, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

27 Jan 16

Johnson Controls, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

27 Jan 16

Johnson Controls, Inc.

AGM

4

For

Compensation. Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors. 27 Jan 16

Nuance Communications, Inc.

AGM

1a

For

Agenda item : Elect Director Paul A. Ricci.

27 Jan 16

Nuance Communications, Inc.

AGM

1b

For

Agenda item : Elect Director Robert J. Finocchio.

27 Jan 16

Nuance Communications, Inc.

AGM

1c

For

Agenda item : Elect Director Robert J. Frankenberg.

27 Jan 16

Nuance Communications, Inc.

AGM

1d

For

Agenda item : Elect Director Brett Icahn.

27 Jan 16

Nuance Communications, Inc.

AGM

1e

For

Agenda item : Elect Director William H. Janeway.

27 Jan 16

Nuance Communications, Inc.

AGM

1f

For

Agenda item : Elect Director Mark R. Laret.

27 Jan 16

Nuance Communications, Inc.

AGM

1g

For

Agenda item : Elect Director Katharine A. Martin.

27 Jan 16

Nuance Communications, Inc.

AGM

1h

For

Agenda item : Elect Director Philip J. Quigley.

27 Jan 16

Nuance Communications, Inc.

AGM

1i

For

Agenda item : Elect Director David S. Schechter.

27 Jan 16

Nuance Communications, Inc.

AGM

2

For

Agenda item : Amend Omnibus Stock Plan.

27 Jan 16

Nuance Communications, Inc.

AGM

3

Opposed

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments UBS note : We will not try to micro-manage compensation schemes; however, we believe remuneration should not be excessive, and we will not support compensation plans that are poorly structured or otherwise egregious.

27 Jan 16

Nuance Communications, Inc.

AGM

4

For

Agenda item : Ratify BDO USA, LLP as Auditors.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1a

For

Agenda item : Elect Director Janice M. Babiak.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1b

For

Agenda item : Elect Director David J. Brailer.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1c

For

Agenda item : Elect Director William C. Foote.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1d

For

Agenda item : Elect Director Ginger L. Graham.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1e

For

Agenda item : Elect Director John A. Lederer.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1f

For

Agenda item : Elect Director Dominic P. Murphy.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1g

For

Agenda item : Elect Director Stefano Pessina.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1h

For

Agenda item : Elect Director Barry Rosenstein.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1i

For

Agenda item : Elect Director Leonard D. Schaeffer.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1j

For

Agenda item : Elect Director Nancy M. Schlichting.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

1k

For

Agenda item : Elect Director James A. Skinner.

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

27 Jan 16

Walgreens Boots Alliance, Inc.

AGM

3

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

1a

For

Agenda item : Elect Director Susan K. Carter.

Compensation.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

1b

For

Agenda item : Elect Director Charles I. Cogut.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

1c

For

Agenda item : Elect Director Seifi Ghasemi.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

1d

For

Agenda item : Elect Director David H. Y. Ho.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

1e

For

Agenda item : Elect Director Margaret G. McGlynn.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

28 Jan 16

Air Products and Chemicals, Inc.

AGM

3

For

Agenda item : Ratify KPMG LLP as Auditors.

28 Jan 16

Air Products and Chemicals, Inc.

AGM

4

For

Agenda item : Amend Executive Incentive Bonus Plan.

28 Jan 16

Ashland Inc.

AGM

1a

For

Agenda item : Elect Director Brendan M. Cummins.

28 Jan 16

Ashland Inc.

AGM

1b

For

Agenda item : Elect Director Roger W. Hale.

28 Jan 16

Ashland Inc.

AGM

1c

For

Agenda item : Elect Director Vada O. Manager.

28 Jan 16

Ashland Inc.

AGM

1d

For

Agenda item : Elect Director Mark C. Rohr.

Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

28 Jan 16

Ashland Inc.

AGM

1e

For

Agenda item : Elect Director George A. Schaefer, Jr.

28 Jan 16

Ashland Inc.

AGM

1f

For

Agenda item : Elect Director Janice J. Teal.

28 Jan 16

Ashland Inc.

AGM

1g

For

Agenda item : Elect Director Michael J. Ward.

28 Jan 16

Ashland Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

28 Jan 16

Ashland Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1a

For

Agenda item : Elect Director Joseph R. Bronson.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1b

For

Agenda item : Elect Director Juan Jose Suarez Coppel.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1c

For

Agenda item : Elect Director Robert C. Davidson, Jr.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1d

For

Agenda item : Elect Director Steven J. Demetriou.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1e

For

Agenda item : Elect Director Ralph E. Eberhart.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1f

For

Agenda item : Elect Director Dawne S. Hickton.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1g

For

Agenda item : Elect Director Peter J. Robertson.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

1h

For

Agenda item : Elect Director Noel G. Watson.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

2

Opposed

Agenda item : Amend Outside Director Stock Awards.

Compensation.

UBS note : The issuance of share options to non-executives is not considered good practice, as it may compromise their independence. 28 Jan 16

Jacobs Engineering Group Inc.

AGM

3

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

28 Jan 16

Jacobs Engineering Group Inc.

AGM

4

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

28 Jan 16

Micron Technology, Inc.

AGM

1.1

For

Agenda item : Elect Director Robert L. Bailey.

28 Jan 16

Micron Technology, Inc.

AGM

1.2

For

Agenda item : Elect Director Richard M. Beyer.

28 Jan 16

Micron Technology, Inc.

AGM

1.3

For

Agenda item : Elect Director Patrick J. Byrne.

28 Jan 16

Micron Technology, Inc.

AGM

1.4

For

Agenda item : Elect Director D. Mark Durcan.

28 Jan 16

Micron Technology, Inc.

AGM

1.5

For

Agenda item : Elect Director Mercedes Johnson.

28 Jan 16

Micron Technology, Inc.

AGM

1.6

For

Agenda item : Elect Director Lawrence N. Mondry.

28 Jan 16

Micron Technology, Inc.

AGM

1.7

For

Agenda item : Elect Director Robert E. Switz.

Compensation.

28 Jan 16

Micron Technology, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

28 Jan 16

Micron Technology, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

28 Jan 16

Micron Technology, Inc.

AGM

4

Opposed

Compensation. Agenda item : Other Business.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

29 Jan 16

Costco Wholesale Corporation

AGM

1.1

For

Agenda item : Elect Director Hamilton E. James.

29 Jan 16

Costco Wholesale Corporation

AGM

1.2

For

Agenda item : Elect Director W. Craig Jelinek.

Comments UBS note : Lack of details available regarding this proposal.

29 Jan 16

Costco Wholesale Corporation

AGM

1.3

For

Agenda item : Elect Director John W. Stanton.

29 Jan 16

Costco Wholesale Corporation

AGM

1.4

For

Agenda item : Elect Director Mary A. (Maggie) Wilderotter.

29 Jan 16

Costco Wholesale Corporation

AGM

2

For

Agenda item : Ratify KPMG LLP as Auditors.

29 Jan 16

Costco Wholesale Corporation

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

29 Jan 16

Costco Wholesale Corporation

AGM

4

For

Compensation. Agenda item : Adopt Proxy Access Right. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors. 29 Jan 16

Monsanto Company

AGM

1a

For

Agenda item : Elect Director Gregory H. Boyce.

29 Jan 16

Monsanto Company

AGM

1b

For

Agenda item : Elect Director David L. Chicoine.

29 Jan 16

Monsanto Company

AGM

1c

For

Agenda item : Elect Director Janice L. Fields.

29 Jan 16

Monsanto Company

AGM

1d

For

Agenda item : Elect Director Hugh Grant.

29 Jan 16

Monsanto Company

AGM

1e

For

Agenda item : Elect Director Arthur H. Harper.

29 Jan 16

Monsanto Company

AGM

1f

For

Agenda item : Elect Director Laura K. Ipsen.

29 Jan 16

Monsanto Company

AGM

1g

For

Agenda item : Elect Director Marcos M. Lutz.

29 Jan 16

Monsanto Company

AGM

1h

For

Agenda item : Elect Director C. Steven McMillan.

29 Jan 16

Monsanto Company

AGM

1i

For

Agenda item : Elect Director Jon R. Moeller.

29 Jan 16

Monsanto Company

AGM

1j

For

Agenda item : Elect Director William U. Parfet.

29 Jan 16

Monsanto Company

AGM

1k

For

Agenda item : Elect Director George H. Poste.

29 Jan 16

Monsanto Company

AGM

1l

For

Agenda item : Elect Director Robert J.Stevens.

29 Jan 16

Monsanto Company

AGM

1m

For

Agenda item : Elect Director Patricia Verduin.

29 Jan 16

Monsanto Company

AGM

2

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

29 Jan 16

Monsanto Company

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

29 Jan 16

Monsanto Company

AGM

4

For

Agenda item : Amend Executive Incentive Bonus Plan.

29 Jan 16

Monsanto Company

AGM

5

Opposed

Agenda item : Report on Effectiveness and Risks of Glyphosate Use.

29 Jan 16

Monsanto Company

AGM

6

Opposed

Agenda item : Report on Lobbying Payments and Policy.

29 Jan 16

Monsanto Company

AGM

7

Opposed

Agenda item : Require Independent Board Chairman.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

01 Feb 16

Energizer Holdings, Inc.

AGM

1.1

For

Agenda item : Elect Director J. Patrick Mulcahy.

01 Feb 16

Energizer Holdings, Inc.

AGM

1.2

For

Agenda item : Elect Director Alan R. Hoskins.

01 Feb 16

Energizer Holdings, Inc.

AGM

1.3

For

Agenda item : Elect Director Kevin J. Hunt.

01 Feb 16

Energizer Holdings, Inc.

AGM

1.4

For

Agenda item : Elect Director Patrick J. Moore.

01 Feb 16

Energizer Holdings, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

01 Feb 16

Energizer Holdings, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

01 Feb 16

Energizer Holdings, Inc.

AGM

5

For

Agenda item : Amend Omnibus Stock Plan.

01 Feb 16

Energizer Holdings, Inc.

AGM

6

For

Agenda item : Approve Executive Incentive Bonus Plan.

02 Feb 16

Emerson Electric Co.

AGM

1.1

For

Agenda item : Elect Director C. A. H. Boersig.

02 Feb 16

Emerson Electric Co.

AGM

1.2

For

Agenda item : Elect Director J. B. Bolten.

02 Feb 16

Emerson Electric Co.

AGM

1.3

For

Agenda item : Elect Director M. S. Levatich.

02 Feb 16

Emerson Electric Co.

AGM

1.4

For

Agenda item : Elect Director R. L. Stephenson.

02 Feb 16

Emerson Electric Co.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

02 Feb 16

Emerson Electric Co.

AGM

3

For

02 Feb 16

Emerson Electric Co.

AGM

4

For

Agenda item : Ratify KPMG LLP as Auditors. Agenda item : Report on Sustainability. UBS note : We believe that the resolution regarding additional reporting is not too restrictive and does warrant support.

02 Feb 16

Emerson Electric Co.

AGM

5

For

Agenda item : Report on Political Contributions. UBS note : We believe that the resolution regarding additional reporting is not too restrictive and does warrant support.

02 Feb 16

Emerson Electric Co.

AGM

6

For

Agenda item : Report on Lobbying Payments and Policy. UBS note : We believe that the resolution regarding additional reporting is not too restrictive and does warrant support.

02 Feb 16

Emerson Electric Co.

AGM

7

For

Agenda item : Adopt Quantitative Company-wide GHG Goals. UBS note : Proposal is reasonable as it will enable shareholders to understand further the company's approach to this issue.

02 Feb 16

Rockwell Automation, Inc.

AGM

A1

For

Agenda item : Elect Director Keith D. Nosbusch.

02 Feb 16

Rockwell Automation, Inc.

AGM

A2

For

Agenda item : Elect Director William T. McCormick, Jr.

02 Feb 16

Rockwell Automation, Inc.

AGM

B

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

02 Feb 16

Rockwell Automation, Inc.

AGM

C

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

02 Feb 16

Rockwell Automation, Inc.

AGM

D

For

Agenda item : Amend Omnibus Stock Plan.

02 Feb 16

Rockwell Automation, Inc.

AGM

E

For

Agenda item : Adopt the Jurisdiction of Incorporation as the Exclusive Forum

02 Feb 16

WestRock Company

AGM

1a

For

Agenda item : Elect Director Timothy J. Bernlohr.

02 Feb 16

WestRock Company

AGM

1b

For

Agenda item : Elect Director J. Powell Brown.

02 Feb 16

WestRock Company

AGM

1c

For

Agenda item : Elect Director Michael E. Campbell.

02 Feb 16

WestRock Company

AGM

1d

For

Agenda item : Elect Director Terrell K. Crews.

02 Feb 16

WestRock Company

AGM

1e

For

Agenda item : Elect Director Russell M. Currey.

02 Feb 16

WestRock Company

AGM

1f

For

Agenda item : Elect Director G. Stephen Felker.

02 Feb 16

WestRock Company

AGM

1g

For

Agenda item : Elect Director Lawrence L. Gellerstedt III.

02 Feb 16

WestRock Company

AGM

1h

For

Agenda item : Elect Director John A. Luke, Jr.

02 Feb 16

WestRock Company

AGM

1i

For

Agenda item : Elect Director Gracia C. Martore.

02 Feb 16

WestRock Company

AGM

1j

For

Agenda item : Elect Director James E. Nevels.

02 Feb 16

WestRock Company

AGM

1k

For

Agenda item : Elect Director Timothy H. Powers.

02 Feb 16

WestRock Company

AGM

1l

For

Agenda item : Elect Director Steven C. Voorhees.

02 Feb 16

WestRock Company

AGM

1m

For

Agenda item : Elect Director Bettina M. Whyte.

02 Feb 16

WestRock Company

AGM

1n

For

Agenda item : Elect Director Alan D. Wilson.

02 Feb 16

WestRock Company

AGM

2

For

Agenda item : Approve Qualified Employee Stock Purchase Plan.

02 Feb 16

WestRock Company

AGM

3

Opposed

Compensation.

for Certain Disputes.

Agenda item : Approve Omnibus Stock Plan. UBS note : The issuance of share options to non-executives is not considered good practice, as it may compromise their independence.

02 Feb 16

WestRock Company

AGM

4

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

02 Feb 16

WestRock Company

AGM

5

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

03 Feb 16

Accenture plc

AGM

1a

For

Agenda item : Elect Director Jaime Ardila.

Compensation. 03 Feb 16

Accenture plc

AGM

1b

For

Agenda item : Elect Director Dina Dublon.

03 Feb 16

Accenture plc

AGM

1c

For

Agenda item : Elect Director Charles H. Giancarlo.

03 Feb 16

Accenture plc

AGM

1d

For

Agenda item : Elect Director William L. Kimsey.

03 Feb 16

Accenture plc

AGM

1e

For

Agenda item : Elect Director Marjorie Magner.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

03 Feb 16

Accenture plc

AGM

1f

For

Agenda item : Elect Director Blythe J. McGarvie.

03 Feb 16

Accenture plc

AGM

1g

For

Agenda item : Elect Director Pierre Nanterme.

03 Feb 16

Accenture plc

AGM

1h

For

Agenda item : Elect Director Gilles C. Pelisson.

03 Feb 16

Accenture plc

AGM

1i

For

Agenda item : Elect Director Paula A. Price.

03 Feb 16

Accenture plc

AGM

1j

For

Agenda item : Elect Director Arun Sarin.

03 Feb 16

Accenture plc

AGM

1k

For

Agenda item : Elect Director Wulf von Schimmelmann.

03 Feb 16

Accenture plc

AGM

1l

For

Agenda item : Elect Director Frank K. Tang.

03 Feb 16

Accenture plc

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

03 Feb 16

Accenture plc

AGM

3

For

Agenda item : Amend Omnibus Stock Plan.

03 Feb 16

Accenture plc

AGM

4

For

Agenda item : Amend Qualified Employee Stock Purchase Plan.

03 Feb 16

Accenture plc

AGM

5

For

Agenda item : Approve KPMG LLP as Auditors and Authorise Board to Fix

03 Feb 16

Accenture plc

AGM

6

For

Agenda item : Provide Proxy Access Right.

03 Feb 16

Accenture plc

AGM

7A

For

Agenda item : Require Advance Notice for Shareholder Proposals.

03 Feb 16

Accenture plc

AGM

7B

For

Agenda item : Amend Articles.

03 Feb 16

Accenture plc

AGM

8A

For

Agenda item : Amend Articles - Board Related.

03 Feb 16

Accenture plc

AGM

8B

For

Agenda item : Establish Range for Size of Board.

03 Feb 16

Accenture plc

AGM

9

Opposed

Agenda item : Authorise Issuance of Equity or Equity-Linked Securities with

Compensation.

Their Remuneration.

Pre-emptive Rights. UBS note : General authority to issue share instruments with pre-emption rights not in shareholders' interests. 03 Feb 16

Accenture plc

AGM

10

For

Agenda item : Authorise Issuance of Equity or Equity-Linked Securities without

03 Feb 16

Accenture plc

AGM

11

For

Agenda item : Authorise Open-Market Purchases of Class A Ordinary Shares.

03 Feb 16

Accenture plc

AGM

12

For

Agenda item : Determine the Price Range at which Accenture Plc can Re-issue

Pre-emptive Rights.

Shares that it Acquires as Treasury Stock. 03 Feb 16

Amdocs Limited

AGM

1.1

For

Agenda item : Elect Robert A. Minicucci as a Director.

03 Feb 16

Amdocs Limited

AGM

1.10

For

Agenda item : Elect Richard T.C. LeFave as a Director.

03 Feb 16

Amdocs Limited

AGM

1.11

For

Agenda item : Elect Giora Yaron as a Director.

03 Feb 16

Amdocs Limited

AGM

1.2

For

Agenda item : Elect Adrian Gardner as a Director.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

03 Feb 16

Amdocs Limited

AGM

1.3

For

Agenda item : Elect John T. McLennan as a Director.

03 Feb 16

Amdocs Limited

AGM

1.4

For

Agenda item : Elect Simon Olswang as a Director.

03 Feb 16

Amdocs Limited

AGM

1.5

For

Agenda item : Elect Zohar Zisapel as a Director.

03 Feb 16

Amdocs Limited

AGM

1.6

For

Agenda item : Elect Julian A. Brodsky as a Director.

03 Feb 16

Amdocs Limited

AGM

1.7

For

Agenda item : Elect Clayton Christensen as a Director.

03 Feb 16

Amdocs Limited

AGM

1.8

For

Agenda item : Elect Eli Gelman as a Director.

03 Feb 16

Amdocs Limited

AGM

1.9

For

Agenda item : Elect James S. Kahan as a Director.

03 Feb 16

Amdocs Limited

AGM

2

For

Agenda item : Approve Dividends.

03 Feb 16

Amdocs Limited

AGM

3

For

Agenda item : Accept Consolidated Financial Statements and Statutory

03 Feb 16

Amdocs Limited

AGM

4

For

03 Feb 16

Visa Inc.

AGM

1a

For

Agenda item : Elect Director Lloyd A. Carney.

03 Feb 16

Visa Inc.

AGM

1b

For

Agenda item : Elect Director Mary B. Cranston.

03 Feb 16

Visa Inc.

AGM

1c

For

Agenda item : Elect Director Francisco Javier Fernandez-Carbajal.

03 Feb 16

Visa Inc.

AGM

1d

For

Agenda item : Elect Director Alfred F. Kelly, Jr.

03 Feb 16

Visa Inc.

AGM

1e

For

Agenda item : Elect Director Robert W. Matschullat.

03 Feb 16

Visa Inc.

AGM

1f

For

Agenda item : Elect Director Cathy E. Minehan.

03 Feb 16

Visa Inc.

AGM

1g

For

Agenda item : Elect Director Suzanne Nora Johnson.

03 Feb 16

Visa Inc.

AGM

1h

For

Agenda item : Elect Director David J. Pang.

03 Feb 16

Visa Inc.

AGM

1i

For

Agenda item : Elect Director Charles W. Scharf.

03 Feb 16

Visa Inc.

AGM

1j

For

Agenda item : Elect Director John A. C. Swainson.

03 Feb 16

Visa Inc.

AGM

1k

For

Agenda item : Elect Director Maynard G. Webb, Jr.

03 Feb 16

Visa Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

03 Feb 16

Visa Inc.

AGM

3

For

Agenda item : Amend Omnibus Stock Plan.

03 Feb 16

Visa Inc.

AGM

4

For

Agenda item : Amend Executive Incentive Bonus Plan.

03 Feb 16

Visa Inc.

AGM

5

For

Agenda item : Ratify KPMG LLP as Auditors.

04 Feb 16

Rockwell Collins, Inc.

AGM

1.1

For

Agenda item : Elect Director John A. Edwardson.

04 Feb 16

Rockwell Collins, Inc.

AGM

1.2

For

Agenda item : Elect Director Andrew J. Policano.

04 Feb 16

Rockwell Collins, Inc.

AGM

1.3

For

Agenda item : Elect Director Jeffrey L. Turner.

Reports. Agenda item : Approve Ernst & Young LLP as Auditors and Authorise Board to Fix Their Remuneration.

Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

04 Feb 16

Rockwell Collins, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

04 Feb 16

Rockwell Collins, Inc.

AGM

3

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

05 Feb 16

Tyson Foods, Inc.

AGM

1a

For

Agenda item : Elect Director John Tyson.

05 Feb 16

Tyson Foods, Inc.

AGM

1b

For

Agenda item : Elect Director Gaurdie E. Banister, Jr.

05 Feb 16

Tyson Foods, Inc.

AGM

1c

For

Agenda item : Elect Director Mike Beebe.

05 Feb 16

Tyson Foods, Inc.

AGM

1d

For

Agenda item : Elect Director Mikel A. Durham.

05 Feb 16

Tyson Foods, Inc.

AGM

1e

For

Agenda item : Elect Director Kevin M. McNamara.

05 Feb 16

Tyson Foods, Inc.

AGM

1f

For

Agenda item : Elect Director Brad T. Sauer.

05 Feb 16

Tyson Foods, Inc.

AGM

1g

For

Agenda item : Elect Director Donnie Smith.

05 Feb 16

Tyson Foods, Inc.

AGM

1h

For

Agenda item : Elect Director Robert Thurber.

05 Feb 16

Tyson Foods, Inc.

AGM

1i

For

Agenda item : Elect Director Barbara A. Tyson.

05 Feb 16

Tyson Foods, Inc.

AGM

2

For

Agenda item : Amend Executive Incentive Bonus Plan.

05 Feb 16

Tyson Foods, Inc.

AGM

3

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

05 Feb 16

Tyson Foods, Inc.

AGM

4

Opposed

Agenda item : Report on the Risks Associated with Use of Gestation Crates in

05 Feb 16

Tyson Foods, Inc.

AGM

5

For

Compensation.

Supply Chain. Agenda item : Implement a Water Quality Stewardship Policy. UBS note : We are supportive of resolutions seeking additional reporting on these issues as long as these are not overly demanding or beyond the remit of the company's reporting. 05 Feb 16

Tyson Foods, Inc.

AGM

6

For

Agenda item : Require Independent Board Chairman. UBS note : Position of Chairman and Chief Executive is combined, contrary to best practice.

05 Feb 16

Tyson Foods, Inc.

AGM

7

For

Agenda item : Approve Recapitalization Plan for all Stock to Have One-vote per Share. UBS note : We believe that votes at company meetings should be determined on the basis of one-share one-vote.

05 Feb 16

Tyson Foods, Inc.

AGM

8

Opposed

Agenda item : Report on Working Conditions.

05 Feb 16

Tyson Foods, Inc.

AGM

9

Opposed

Agenda item : Report on Lobbying Payments and Policy.

11 Feb 16

Varian Medical Systems, Inc.

AGM

1.1

For

Agenda item : Elect Director R. Andrew Eckert.

11 Feb 16

Varian Medical Systems, Inc.

AGM

1.2

For

Agenda item : Elect Director Mark R. Laret.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

11 Feb 16

Varian Medical Systems, Inc.

AGM

1.3

For

Agenda item : Elect Director Erich R. Reinhardt.

11 Feb 16

Varian Medical Systems, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

Comments

Compensation. 11 Feb 16

Varian Medical Systems, Inc.

AGM

3

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

12 Feb 16

Plum Creek Timber Company, Inc.

EGM

1

For

Agenda item : Approve Merger Agreement.

12 Feb 16

Plum Creek Timber Company, Inc.

EGM

2

For

Agenda item : Adjourn Meeting.

12 Feb 16

Plum Creek Timber Company, Inc.

EGM

3

For

Agenda item : Advisory Vote on Golden Parachutes.

12 Feb 16

Weyerhaeuser Company

EGM

1

For

Agenda item : Issue Shares in Connection with Acquisition.

12 Feb 16

Weyerhaeuser Company

EGM

2

For

Agenda item : Adjourn Meeting.

17 Feb 16

Franklin Resources, Inc.

AGM

1a

For

Agenda item : Elect Director Peter K. Barker.

17 Feb 16

Franklin Resources, Inc.

AGM

1b

For

Agenda item : Elect Director Mariann Byerwalter.

17 Feb 16

Franklin Resources, Inc.

AGM

1c

For

Agenda item : Elect Director Charles E. Johnson.

17 Feb 16

Franklin Resources, Inc.

AGM

1d

For

Agenda item : Elect Director Gregory E. Johnson.

17 Feb 16

Franklin Resources, Inc.

AGM

1e

For

Agenda item : Elect Director Rupert H. Johnson, Jr.

17 Feb 16

Franklin Resources, Inc.

AGM

1f

For

Agenda item : Elect Director Mark C. Pigott.

17 Feb 16

Franklin Resources, Inc.

AGM

1g

For

Agenda item : Elect Director Chutta Ratnathicam.

17 Feb 16

Franklin Resources, Inc.

AGM

1h

For

Agenda item : Elect Director Laura Stein.

17 Feb 16

Franklin Resources, Inc.

AGM

1i

For

Agenda item : Elect Director Seth H. Waugh.

17 Feb 16

Franklin Resources, Inc.

AGM

1j

For

Agenda item : Elect Director Geoffrey Y. Yang.

17 Feb 16

Franklin Resources, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

17 Feb 16

Franklin Resources, Inc.

AGM

3

Opposed

Agenda item : Report on and Assess Proxy Voting Policies in Relation to

18 Feb 16

TD Ameritrade Holding Corporation

AGM

1.1

For

Agenda item : Elect Director Bharat B. Masrani.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

1.2

For

Agenda item : Elect Director Irene R. Miller.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

1.3

For

Agenda item : Elect Director Todd M. Ricketts.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

1.4

For

Agenda item : Elect Director Allan R. Tessler.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

18 Feb 16

TD Ameritrade Holding Corporation

AGM

3

For

Agenda item : Amend Omnibus Stock Plan.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

4

For

Agenda item : Amend Executive Incentive Bonus Plan.

18 Feb 16

TD Ameritrade Holding Corporation

AGM

5

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

Climate Change Position.

Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

19 Feb 16

KLA-Tencor Corporation

EGM

1

For

Agenda item : Approve Merger Agreement.

19 Feb 16

KLA-Tencor Corporation

EGM

2

For

Agenda item : Adjourn Meeting.

19 Feb 16

KLA-Tencor Corporation

EGM

3

For

Agenda item : Advisory Vote on Golden Parachutes.

19 Feb 16

KLA-Tencor Corporation

EGM

4

For

Agenda item : Approve Extension of Outside Director Accelerated Vesting

19 Feb 16

Lam Research Corporation

EGM

1

For

Agenda item : Issue Shares in Connection with Acquisition.

19 Feb 16

Lam Research Corporation

EGM

2

For

Agenda item : Adjourn Meeting.

19 Feb 16

Lam Research Corporation

EGM

3

For

Agenda item : Increase Authorised Common Stock.

23 Feb 16

Airgas, Inc.

EGM

1

For

Agenda item : Approve Merger Agreement.

23 Feb 16

Airgas, Inc.

EGM

2

For

Agenda item : Advisory Vote on Golden Parachutes.

23 Feb 16

Airgas, Inc.

EGM

3

For

Agenda item : Adjourn Meeting.

24 Feb 16

Deere & Company

AGM

1a

For

Agenda item : Elect Director Samuel R. Allen.

24 Feb 16

Deere & Company

AGM

1b

For

Agenda item : Elect Director Crandall C. Bowles.

24 Feb 16

Deere & Company

AGM

1c

For

Agenda item : Elect Director Vance D. Coffman.

24 Feb 16

Deere & Company

AGM

1d

For

Agenda item : Elect Director Dipak C. Jain.

24 Feb 16

Deere & Company

AGM

1e

For

Agenda item : Elect Director Michael O. Johanns.

24 Feb 16

Deere & Company

AGM

1f

For

Agenda item : Elect Director Clayton M. Jones.

24 Feb 16

Deere & Company

AGM

1g

For

Agenda item : Elect Director Brian M. Krzanich.

24 Feb 16

Deere & Company

AGM

1h

For

Agenda item : Elect Director Gregory R. Page.

24 Feb 16

Deere & Company

AGM

1i

For

Agenda item : Elect Director Sherry M. Smith.

24 Feb 16

Deere & Company

AGM

1j

For

Agenda item : Elect Director Dmitri L. Stockton.

24 Feb 16

Deere & Company

AGM

1k

For

Agenda item : Elect Director Sheila G. Talton.

24 Feb 16

Deere & Company

AGM

2

Opposed

Agenda item : Advisory Vote to Ratify Named Executive Officers'

Policy.

Compensation. UBS note : We will not try to micro-manage compensation schemes; however, we believe remuneration should not be excessive, and we will not support compensation plans that are poorly structured or otherwise egregious. 24 Feb 16

Deere & Company

AGM

3

For

24 Feb 16

Deere & Company

AGM

4a

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors. Agenda item : Adopt Proxy Access Right. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

24 Feb 16

Deere & Company

AGM

4b

Opposed

Agenda item : Create Feasibility Plan for Net-Zero GHG Emissions.

24 Feb 16

Deere & Company

AGM

4c

Opposed

Agenda item : Report on Consistency Between Corporate Values and Political

Comments

Contributions. 24 Feb 16

Keurig Green Mountain, Inc.

EGM

1

For

Agenda item : Approve Merger Agreement.

24 Feb 16

Keurig Green Mountain, Inc.

EGM

2

For

Agenda item : Advisory Vote on Golden Parachutes.

24 Feb 16

Keurig Green Mountain, Inc.

EGM

3

For

Agenda item : Adjourn Meeting.

26 Feb 16

Apple Inc.

AGM

1.1

For

Agenda item : Elect Director James Bell.

26 Feb 16

Apple Inc.

AGM

1.2

For

Agenda item : Elect Director Tim Cook.

26 Feb 16

Apple Inc.

AGM

1.3

For

Agenda item : Elect Director Al Gore.

26 Feb 16

Apple Inc.

AGM

1.4

For

Agenda item : Elect Director Bob Iger.

26 Feb 16

Apple Inc.

AGM

1.5

For

Agenda item : Elect Director Andrea Jung.

26 Feb 16

Apple Inc.

AGM

1.6

For

Agenda item : Elect Director Art Levinson.

26 Feb 16

Apple Inc.

AGM

1.7

For

Agenda item : Elect Director Ron Sugar.

26 Feb 16

Apple Inc.

AGM

1.8

For

Agenda item : Elect Director Sue Wagner.

26 Feb 16

Apple Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

26 Feb 16

Apple Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

26 Feb 16

Apple Inc.

AGM

4

For

Agenda item : Amend Omnibus Stock Plan.

26 Feb 16

Apple Inc.

AGM

5

Opposed

Agenda item : Create Feasibility Plan for Net-Zero GHG Emissions, Including

26 Feb 16

Apple Inc.

AGM

6

Opposed

26 Feb 16

Apple Inc.

AGM

7

Opposed

26 Feb 16

Apple Inc.

AGM

8

For

Compensation.

for Major Suppliers. Agenda item : Adopt Policy to Increase Diversity of Senior Management and Board of Directors. Agenda item : Report on Guidelines for Country Selection. Agenda item : Adopt Proxy Access Right. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors. 02 Mar 16

Helmerich & Payne, Inc.

AGM

1a

For

Agenda item : Elect Director William L. Armstrong.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1b

For

Agenda item : Elect Director Randy A. Foutch.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1c

For

Agenda item : Elect Director Hans Helmerich.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1d

For

Agenda item : Elect Director John W. Lindsay.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1e

For

Agenda item : Elect Director Paula Marshall.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

02 Mar 16

Helmerich & Payne, Inc.

AGM

1f

For

Agenda item : Elect Director Thomas A. Petrie.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1g

For

Agenda item : Elect Director Donald F. Robillard, Jr.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1h

For

Agenda item : Elect Director Francis Rooney.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1i

For

Agenda item : Elect Director Edward B. Rust, Jr.

02 Mar 16

Helmerich & Payne, Inc.

AGM

1j

For

Agenda item : Elect Director John D. Zeglis.

02 Mar 16

Helmerich & Payne, Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

02 Mar 16

Helmerich & Payne, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

02 Mar 16

Helmerich & Payne, Inc.

AGM

4

Opposed

Compensation. Agenda item : Approve Omnibus Stock Plan. UBS note : The issuance of share options to non-executives is not considered good practice, as it may compromise their independence. 02 Mar 16

Hologic, Inc.

AGM

1.1

Withhold

Agenda item : Elect Director Jonathan Christodoro.

02 Mar 16

Hologic, Inc.

AGM

1.10

For

Agenda item : Elect Director Christopher J. Coughlin.

02 Mar 16

Hologic, Inc.

AGM

1.2

Withhold

Agenda item : Elect Director Sally W. Crawford.

02 Mar 16

Hologic, Inc.

AGM

1.3

For

Agenda item : Elect Director Scott T. Garrett.

02 Mar 16

Hologic, Inc.

AGM

1.4

For

Agenda item : Elect Director Nancy L. Leaming.

02 Mar 16

Hologic, Inc.

AGM

1.5

For

Agenda item : Elect Director Lawrence M. Levy.

02 Mar 16

Hologic, Inc.

AGM

1.6

For

Agenda item : Elect Director Stephen P. MacMillan.

02 Mar 16

Hologic, Inc.

AGM

1.7

Withhold

Agenda item : Elect Director Samuel Merksamer.

02 Mar 16

Hologic, Inc.

AGM

1.8

For

02 Mar 16

Hologic, Inc.

AGM

1.9

For

Agenda item : Elect Director Elaine S. Ullian.

02 Mar 16

Hologic, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

02 Mar 16

Hologic, Inc.

AGM

3

For

Agenda item : Amend Qualified Employee Stock Purchase Plan.

02 Mar 16

Hologic, Inc.

AGM

4

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

02 Mar 16

TE Connectivity Ltd.

AGM

1a

For

Agenda item : Elect Director Pierre R. Brondeau.

02 Mar 16

TE Connectivity Ltd.

AGM

1b

For

Agenda item : Elect Director Terrence R. Curtin.

02 Mar 16

TE Connectivity Ltd.

AGM

1c

For

Agenda item : Elect Director Carol A. ("John") Davidson.

UBS note : Nominee currently sits on an excessive number of boards.

UBS note : Nominee ignored previous shareholder vote.

UBS note : Nominee currently sits on an excessive number of boards. Agenda item : Elect Director Christiana Stamoulis.

Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

02 Mar 16

TE Connectivity Ltd.

AGM

1d

For

Agenda item : Elect Director Juergen W. Gromer.

02 Mar 16

TE Connectivity Ltd.

AGM

1e

For

Agenda item : Elect Director William A. Jeffrey.

02 Mar 16

TE Connectivity Ltd.

AGM

1f

For

Agenda item : Elect Director Thomas J. Lynch.

02 Mar 16

TE Connectivity Ltd.

AGM

1g

For

Agenda item : Elect Director Yong Nam.

02 Mar 16

TE Connectivity Ltd.

AGM

1h

For

Agenda item : Elect Director Daniel J. Phelan.

02 Mar 16

TE Connectivity Ltd.

AGM

1i

For

Agenda item : Elect Director Paula A. Sneed.

02 Mar 16

TE Connectivity Ltd.

AGM

1j

For

Agenda item : Elect Director Mark C. Trudeau.

02 Mar 16

TE Connectivity Ltd.

AGM

1k

For

Agenda item : Elect Director John C. Van Scoter.

02 Mar 16

TE Connectivity Ltd.

AGM

1l

For

Agenda item : Elect Director Laura H. Wright.

02 Mar 16

TE Connectivity Ltd.

AGM

2

For

Agenda item : Elect Board Chairman Thomas J. Lynch.

02 Mar 16

TE Connectivity Ltd.

AGM

3a

For

Agenda item : Elect Daniel J. Phelan as Member of Management Development

02 Mar 16

TE Connectivity Ltd.

AGM

3b

For

02 Mar 16

TE Connectivity Ltd.

AGM

3c

For

02 Mar 16

TE Connectivity Ltd.

AGM

4

For

Agenda item : Designate Jvo Grundler as Independent Proxy.

02 Mar 16

TE Connectivity Ltd.

AGM

5.1

For

Agenda item : Accept Annual Report for Fiscal Year Ended September 26,

& Compensation Committee. Agenda item : Elect Paula A. Sneed as Member of Management Development & Compensation Committee. Agenda item : Elect John C. Van Scoter as Member of Management Development & Compensation Committee.

2014. 02 Mar 16

TE Connectivity Ltd.

AGM

5.2

For

02 Mar 16

TE Connectivity Ltd.

AGM

5.3

For

Agenda item : Accept Statutory Financial Statements for Fiscal Year Ended September 26, 2014. Agenda item : Approve Consolidated Financial Statements for Fiscal Year Ended September 26, 2014.

02 Mar 16

TE Connectivity Ltd.

AGM

6

For

Agenda item : Approve Discharge of Board and Senior Management.

02 Mar 16

TE Connectivity Ltd.

AGM

7.1

For

Agenda item : Ratify Deloitte & Touche LLP as Independent Registered Public

02 Mar 16

TE Connectivity Ltd.

AGM

7.2

For

Accounting Firm for Fiscal Year Ending September 25, 2015. Agenda item : Ratify Deloitte AG as Swiss Registered Auditors.

02 Mar 16

TE Connectivity Ltd.

AGM

7.3

For

Agenda item : Ratify PricewaterhouseCoopers AG as Special Auditors.

02 Mar 16

TE Connectivity Ltd.

AGM

8

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

02 Mar 16

TE Connectivity Ltd.

AGM

9

For

Compensation. Agenda item : Approve the Increase in Maximum Aggregate Remuneration of

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

02 Mar 16

TE Connectivity Ltd.

AGM

10

Comments Executive Management.

For

Agenda item : Approve the Increase in Maximum Aggregate Remuneration of Board of Directors.

02 Mar 16

TE Connectivity Ltd.

AGM

11

For

Agenda item : Approve Allocation of Available Earnings for Fiscal Year 2014.

02 Mar 16

TE Connectivity Ltd.

AGM

12

For

Agenda item : Approve Declaration of Dividend.

02 Mar 16

TE Connectivity Ltd.

AGM

13

Opposed

Agenda item : Authorise Share Repurchase Program. UBS note : Not in shareholders' interests.

02 Mar 16

TE Connectivity Ltd.

AGM

14

For

Agenda item : Amend Articles of Association Re: Capital and Related

02 Mar 16

TE Connectivity Ltd.

AGM

15

For

Agenda item : Approve Reduction of Share Capital.

02 Mar 16

TE Connectivity Ltd.

AGM

16

Opposed

Agenda item : Adjourn Meeting.

02 Mar 16

TransDigm Group Incorporated

AGM

1.1

For

Agenda item : Elect Director William Dries.

02 Mar 16

TransDigm Group Incorporated

AGM

1.2

For

Agenda item : Elect Director Mervin Dunn.

02 Mar 16

TransDigm Group Incorporated

AGM

1.3

For

Agenda item : Elect Director Michael Graff.

02 Mar 16

TransDigm Group Incorporated

AGM

1.4

For

Agenda item : Elect Director W. Nicholas Howley.

02 Mar 16

TransDigm Group Incorporated

AGM

1.5

For

Agenda item : Elect Director Raymond Laubenthal.

02 Mar 16

TransDigm Group Incorporated

AGM

1.6

For

Agenda item : Elect Director Robert Small.

02 Mar 16

TransDigm Group Incorporated

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

02 Mar 16

TransDigm Group Incorporated

AGM

3

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.1

For

Agenda item : Elect Director Ornella Barra.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.10

For

Agenda item : Elect Director Henry W. McGee.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.2

For

Agenda item : Elect Director Steven H. Collis.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.3

For

Agenda item : Elect Director Douglas R. Conant.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.4

For

Agenda item : Elect Director D. Mark Durcan.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.5

For

Agenda item : Elect Director Richard W. Gochnauer.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.6

For

Agenda item : Elect Director Lon R. Greenberg.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.7

For

Agenda item : Elect Director Jane E. Henney.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.8

For

Agenda item : Elect Director Kathleen W. Hyle.

03 Mar 16

AmerisourceBergen Corporation

AGM

1.9

For

Agenda item : Elect Director Michael J. Long.

Amendments.

UBS note : Not in shareholders' interests.

Compensation.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

03 Mar 16

AmerisourceBergen Corporation

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

03 Mar 16

AmerisourceBergen Corporation

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

Comments

Compensation. 03 Mar 16

AmerisourceBergen Corporation

AGM

4

For

Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors.

03 Mar 16

The Walt Disney Company

AGM

1a

For

Agenda item : Elect Director Susan E. Arnold.

03 Mar 16

The Walt Disney Company

AGM

1b

For

Agenda item : Elect Director John S. Chen.

03 Mar 16

The Walt Disney Company

AGM

1c

For

Agenda item : Elect Director Jack Dorsey.

03 Mar 16

The Walt Disney Company

AGM

1d

For

Agenda item : Elect Director Robert A. Iger.

03 Mar 16

The Walt Disney Company

AGM

1e

For

Agenda item : Elect Director Maria Elena Lagomasino.

03 Mar 16

The Walt Disney Company

AGM

1f

For

Agenda item : Elect Director Fred H. Langhammer.

03 Mar 16

The Walt Disney Company

AGM

1g

For

Agenda item : Elect Director Aylwin B. Lewis.

03 Mar 16

The Walt Disney Company

AGM

1h

For

Agenda item : Elect Director Robert W. Matschullat.

03 Mar 16

The Walt Disney Company

AGM

1i

For

Agenda item : Elect Director Mark G. Parker.

03 Mar 16

The Walt Disney Company

AGM

1j

For

Agenda item : Elect Director Sheryl K. Sandberg.

03 Mar 16

The Walt Disney Company

AGM

1k

For

Agenda item : Elect Director Orin C. Smith.

03 Mar 16

The Walt Disney Company

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

03 Mar 16

The Walt Disney Company

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

03 Mar 16

The Walt Disney Company

AGM

4

For

03 Mar 16

The Walt Disney Company

AGM

5

For

Compensation. Agenda item : Reduce Supermajority Vote Requirement. Agenda item : Reduce Supermajority Vote Requirement. UBS note : We will normally vote for proposals that reduce supermajority voting limits. 03 Mar 16

The Walt Disney Company

AGM

6

Opposed

Agenda item : Report on Lobbying Payments and Policy.

08 Mar 16

Joy Global Inc.

AGM

1.1

For

Agenda item : Elect Director Edward L. Doheny, II.

08 Mar 16

Joy Global Inc.

AGM

1.2

For

Agenda item : Elect Director Steven L. Gerard.

08 Mar 16

Joy Global Inc.

AGM

1.3

For

Agenda item : Elect Director Mark J. Gliebe.

08 Mar 16

Joy Global Inc.

AGM

1.4

For

Agenda item : Elect Director John T. Gremp.

08 Mar 16

Joy Global Inc.

AGM

1.5

For

Agenda item : Elect Director John Nils Hanson.

08 Mar 16

Joy Global Inc.

AGM

1.6

For

Agenda item : Elect Director Gale E. Klappa.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

08 Mar 16

Joy Global Inc.

AGM

1.7

For

Agenda item : Elect Director Richard B. Loynd.

08 Mar 16

Joy Global Inc.

AGM

1.8

For

Agenda item : Elect Director P. Eric Siegert.

08 Mar 16

Joy Global Inc.

AGM

1.9

For

Agenda item : Elect Director James H. Tate.

08 Mar 16

Joy Global Inc.

AGM

2

Opposed

Agenda item : Approve Omnibus Stock Plan. UBS note : Dilution of executive remuneration scheme exceeds best practice guidelines.

08 Mar 16

Joy Global Inc.

AGM

3

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

08 Mar 16

Joy Global Inc.

AGM

4

Opposed

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation. UBS note : We will not try to micro-manage compensation schemes; however, we believe remuneration should not be excessive, and we will not support compensation plans that are poorly structured or otherwise egregious.

08 Mar 16

Joy Global Inc.

AGM

5

Opposed

Agenda item : Adopt Policy and Report on Board Diversity.

08 Mar 16

QUALCOMM Incorporated

AGM

1a

For

Agenda item : Elect Director Barbara T. Alexander.

08 Mar 16

QUALCOMM Incorporated

AGM

1b

For

Agenda item : Elect Director Raymond V. Dittamore.

08 Mar 16

QUALCOMM Incorporated

AGM

1c

For

Agenda item : Elect Director Jeffrey W. Henderson.

08 Mar 16

QUALCOMM Incorporated

AGM

1d

For

Agenda item : Elect Director Thomas W. Horton.

08 Mar 16

QUALCOMM Incorporated

AGM

1e

For

Agenda item : Elect Director Paul E. Jacobs.

08 Mar 16

QUALCOMM Incorporated

AGM

1f

For

Agenda item : Elect Director Harish Manwani.

08 Mar 16

QUALCOMM Incorporated

AGM

1g

For

Agenda item : Elect Director Mark D. McLaughlin.

08 Mar 16

QUALCOMM Incorporated

AGM

1h

For

Agenda item : Elect Director Steve Mollenkopf.

08 Mar 16

QUALCOMM Incorporated

AGM

1i

For

Agenda item : Elect Director Clark T. 'Sandy' Randt, Jr.

08 Mar 16

QUALCOMM Incorporated

AGM

1j

For

Agenda item : Elect Director Francisco Ros.

08 Mar 16

QUALCOMM Incorporated

AGM

1k

For

Agenda item : Elect Director Jonathan J. Rubinstein.

08 Mar 16

QUALCOMM Incorporated

AGM

1l

For

Agenda item : Elect Director Anthony J. Vinciquerra.

08 Mar 16

QUALCOMM Incorporated

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

08 Mar 16

QUALCOMM Incorporated

AGM

3

For

Agenda item : Approve Omnibus Stock Plan.

08 Mar 16

QUALCOMM Incorporated

AGM

4

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

08 Mar 16

QUALCOMM Incorporated

AGM

5

For

Compensation. Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

08 Mar 16

Toll Brothers, Inc.

AGM

1.1

For

Agenda item : Elect Director Robert I. Toll.

08 Mar 16

Toll Brothers, Inc.

AGM

1.10

For

Agenda item : Elect Director Stephen A. Novick.

08 Mar 16

Toll Brothers, Inc.

AGM

1.11

For

Agenda item : Elect Director Paul E. Shapiro.

08 Mar 16

Toll Brothers, Inc.

AGM

1.3

For

Agenda item : Elect Director Douglas C. Yearley, Jr.

08 Mar 16

Toll Brothers, Inc.

AGM

1.4

For

Agenda item : Elect Director Robert S. Blank.

08 Mar 16

Toll Brothers, Inc.

AGM

1.5

For

Agenda item : Elect Director Edward G. Boehne.

08 Mar 16

Toll Brothers, Inc.

AGM

1.6

For

Agenda item : Elect Director Richard J. Braemer.

08 Mar 16

Toll Brothers, Inc.

AGM

1.7

For

Agenda item : Elect Director Christine N. Garvey.

08 Mar 16

Toll Brothers, Inc.

AGM

1.8

For

Agenda item : Elect Director Carl B. Marbach.

08 Mar 16

Toll Brothers, Inc.

AGM

1.9

For

Agenda item : Elect Director John A. McLean.

08 Mar 16

Toll Brothers, Inc.

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

08 Mar 16

Toll Brothers, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

08 Mar 16

Toll Brothers, Inc.

AGM

4

Opposed

Comments shareholders to directly nominate directors.

Compensation. Agenda item : Amend Non-Employee Director Omnibus Stock Plan. UBS note : The issuance of share options to non-executives is not considered good practice, as it may compromise their independence. 08 Mar 16

Toll Brothers, Inc.

AGM

5

For

Agenda item : Provide Directors May Be Removed With or Without Cause.

09 Mar 16

Analog Devices, Inc.

AGM

1a

For

Agenda item : Elect Director Ray Stata.

09 Mar 16

Analog Devices, Inc.

AGM

1b

For

Agenda item : Elect Director Vincent T. Roche.

09 Mar 16

Analog Devices, Inc.

AGM

1c

For

Agenda item : Elect Director Richard M. Beyer.

09 Mar 16

Analog Devices, Inc.

AGM

1d

For

Agenda item : Elect Director James A. Champy.

09 Mar 16

Analog Devices, Inc.

AGM

1e

For

Agenda item : Elect Director Bruce R. Evans.

09 Mar 16

Analog Devices, Inc.

AGM

1f

For

Agenda item : Elect Director Edward H. Frank.

09 Mar 16

Analog Devices, Inc.

AGM

1g

For

Agenda item : Elect Director John C. Hodgson.

09 Mar 16

Analog Devices, Inc.

AGM

1h

For

Agenda item : Elect Director Neil Novich.

09 Mar 16

Analog Devices, Inc.

AGM

1i

For

Agenda item : Elect Director Kenton J. Sicchitano.

09 Mar 16

Analog Devices, Inc.

AGM

1j

For

Agenda item : Elect Director Lisa T. Su.

09 Mar 16

Analog Devices, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

09 Mar 16

Analog Devices, Inc.

AGM

3

For

Compensation. Agenda item : Ratify Ernst & Young LLP as Auditors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

09 Mar 16

Tyco International plc

AGM

1a

For

Agenda item : Elect Director Edward D. Breen.

09 Mar 16

Tyco International plc

AGM

1b

For

Agenda item : Elect Director Herman E. Bulls.

09 Mar 16

Tyco International plc

AGM

1c

For

Agenda item : Elect Director Michael E. Daniels.

09 Mar 16

Tyco International plc

AGM

1d

For

Agenda item : Elect Director Frank M. Drendel.

09 Mar 16

Tyco International plc

AGM

1e

For

Agenda item : Elect Director Brian Duperreault.

09 Mar 16

Tyco International plc

AGM

1f

For

Agenda item : Elect Director Rajiv L. Gupta.

09 Mar 16

Tyco International plc

AGM

1g

For

Agenda item : Elect Director George R. Oliver.

09 Mar 16

Tyco International plc

AGM

1h

For

Agenda item : Elect Director Brendan R. O'Neill.

09 Mar 16

Tyco International plc

AGM

1i

For

Agenda item : Elect Director Jurgen Tinggren.

09 Mar 16

Tyco International plc

AGM

1j

For

Agenda item : Elect Director Sandra S. Wijnberg.

09 Mar 16

Tyco International plc

AGM

1k

For

Agenda item : Elect Director R. David Yost.

09 Mar 16

Tyco International plc

AGM

2a

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

09 Mar 16

Tyco International plc

AGM

2b

For

Agenda item : Authorise Board to Fix Remuneration of Auditors.

09 Mar 16

Tyco International plc

AGM

3

For

Agenda item : Authorise Share Repurchase Program.

09 Mar 16

Tyco International plc

AGM

4

For

Agenda item : Determine Price Range for Reissuance of Treasury Shares.

09 Mar 16

Tyco International plc

AGM

5

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

09 Mar 16

Whole Foods Market, Inc.

AGM

1.1

For

Agenda item : Elect Director John Elstrott.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.10

For

Agenda item : Elect Director Gabrielle Sulzberger.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.11

For

Agenda item : Elect Director William (Kip) Tindell, III.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.2

For

Agenda item : Elect Director Shahid (Hass) Hassan.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.3

For

Agenda item : Elect Director Stephanie Kugelman.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.4

For

Agenda item : Elect Director John Mackey.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.5

For

Agenda item : Elect Director Walter Robb.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.6

For

Agenda item : Elect Director Jonathan Seiffer.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.7

For

Agenda item : Elect Director Morris (Mo) Siegel.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.8

For

Agenda item : Elect Director Jonathan Sokoloff.

09 Mar 16

Whole Foods Market, Inc.

AGM

1.9

For

Agenda item : Elect Director Ralph Sorenson.

09 Mar 16

Whole Foods Market, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

09 Mar 16

Whole Foods Market, Inc.

AGM

3

For

Compensation.

Compensation. Agenda item : Ratify Ernst & Young LLP as Auditors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

09 Mar 16

Whole Foods Market, Inc.

AGM

4

For

Agenda item : Amend Qualified Employee Stock Purchase Plan.

09 Mar 16

Whole Foods Market, Inc.

AGM

5

For

Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors.

09 Mar 16

Whole Foods Market, Inc.

AGM

6

For

Agenda item : Pro-rata Vesting of Equity Plan. UBS note : We generally esolutions seeking to introduce pro-rata vesting of the Executive Directors' stock awards in case of change in control.

09 Mar 16

Whole Foods Market, Inc.

AGM

7

For

Agenda item : Report on Food Waste Management. UBS note : Occasionally, stockholder proposals, such as asking for reports, conducting studies and making donations to the poor, are presented in a way that appear to be honest attempts at bringing up a worthwhile issue. Nevertheless, judgment must be exercised with care, as we do not expect investee companies to act as charitable institutions.

10 Mar 16

Applied Materials, Inc.

AGM

1a

For

Agenda item : Elect Director Willem P. Roelandts.

10 Mar 16

Applied Materials, Inc.

AGM

1b

For

Agenda item : Elect Director Xun (Eric) Chen.

10 Mar 16

Applied Materials, Inc.

AGM

1c

For

Agenda item : Elect Director Aart J. de Geus.

10 Mar 16

Applied Materials, Inc.

AGM

1d

For

Agenda item : Elect Director Gary E. Dickerson.

10 Mar 16

Applied Materials, Inc.

AGM

1e

For

Agenda item : Elect Director Stephen R. Forrest.

10 Mar 16

Applied Materials, Inc.

AGM

1f

For

Agenda item : Elect Director Thomas J. Iannotti.

10 Mar 16

Applied Materials, Inc.

AGM

1g

Opposed

Agenda item : Elect Director Susan M. James.

10 Mar 16

Applied Materials, Inc.

AGM

1h

For

Agenda item : Elect Director Alexander A. Karsner.

10 Mar 16

Applied Materials, Inc.

AGM

1i

For

Agenda item : Elect Director Adrianna C. Ma.

10 Mar 16

Applied Materials, Inc.

AGM

1j

For

Agenda item : Elect Director Dennis D. Powell.

10 Mar 16

Applied Materials, Inc.

AGM

1k

For

Agenda item : Elect Director Robert H. Swan.

10 Mar 16

Applied Materials, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

UBS note : Board ignored previous shareholder vote.

Compensation. 10 Mar 16

Applied Materials, Inc.

AGM

3

For

10 Mar 16

Applied Materials, Inc.

AGM

4

For

Agenda item : Ratify KPMG LLP as Auditors. Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

10 Mar 16

F5 Networks, Inc.

AGM

1a

For

Agenda item : Elect Director A. Gary Ames.

10 Mar 16

F5 Networks, Inc.

AGM

1b

For

Agenda item : Elect Director Sandra E. Bergeron.

10 Mar 16

F5 Networks, Inc.

AGM

1c

For

Agenda item : Elect Director Deborah L. Bevier.

10 Mar 16

F5 Networks, Inc.

AGM

1d

For

Agenda item : Elect Director Jonathan C. Chadwick.

10 Mar 16

F5 Networks, Inc.

AGM

1e

For

Agenda item : Elect Director Michael L. Dreyer.

10 Mar 16

F5 Networks, Inc.

AGM

1f

For

Agenda item : Elect Director Alan J. Higginson.

10 Mar 16

F5 Networks, Inc.

AGM

1g

For

Agenda item : Elect Director Peter S. Klein.

10 Mar 16

F5 Networks, Inc.

AGM

1h

For

Agenda item : Elect Director John McAdam.

10 Mar 16

F5 Networks, Inc.

AGM

1i

For

Agenda item : Elect Director Stephen M. Smith.

10 Mar 16

F5 Networks, Inc.

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

10 Mar 16

F5 Networks, Inc.

AGM

3

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

15 Mar 16

SanDisk Corporation

EGM

1

For

Agenda item : Approve Merger Agreement.

15 Mar 16

SanDisk Corporation

EGM

2

For

Agenda item : Adjourn Meeting.

15 Mar 16

SanDisk Corporation

EGM

3

For

Agenda item : Advisory Vote on Golden Parachutes.

15 Mar 16

The ADT Corporation

AGM

1a

For

Agenda item : Elect Director Thomas Colligan.

15 Mar 16

The ADT Corporation

AGM

1b

For

Agenda item : Elect Director Richard Daly.

15 Mar 16

The ADT Corporation

AGM

1c

For

Agenda item : Elect Director Timothy Donahue.

15 Mar 16

The ADT Corporation

AGM

1d

For

Agenda item : Elect Director Robert Dutkowsky.

15 Mar 16

The ADT Corporation

AGM

1e

For

Agenda item : Elect Director Bruce Gordon.

15 Mar 16

The ADT Corporation

AGM

1f

For

Agenda item : Elect Director Naren Gursahaney.

15 Mar 16

The ADT Corporation

AGM

1g

For

Agenda item : Elect Director Bridgette Heller.

15 Mar 16

The ADT Corporation

AGM

1h

For

Agenda item : Elect Director Kathleen Hyle. Agenda item : Elect Director Christopher Hylen.

15 Mar 16

The ADT Corporation

AGM

1i

For

15 Mar 16

The ADT Corporation

AGM

2

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

15 Mar 16

The ADT Corporation

AGM

3

Opposed

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation. UBS note : We will not try to micro-manage compensation schemes; however, we believe remuneration should not be excessive, and we will not support compensation plans that are poorly structured or otherwise egregious.

15 Mar 16

WESTERN DIGITAL CORPORATION

EGM

1

For

Agenda item : Issue Shares in Connection with Merger.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

15 Mar 16

WESTERN DIGITAL CORPORATION

EGM

2

For

Agenda item : Adjourn Meeting.

15 Mar 16

WESTERN DIGITAL CORPORATION

EGM

3

For

Agenda item : Advisory Vote on Golden Parachutes.

16 Mar 16

Agilent Technologies, Inc.

AGM

1.1

For

Agenda item : Elect Director Paul N. Clark.

16 Mar 16

Agilent Technologies, Inc.

AGM

1.2

Opposed

Agenda item : Elect Director James G. Cullen.

16 Mar 16

Agilent Technologies, Inc.

AGM

1.3

For

Agenda item : Elect Director Tadataka Yamada.

16 Mar 16

Agilent Technologies, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

16 Mar 16

Agilent Technologies, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

16 Mar 16

Agilent Technologies, Inc.

AGM

4

For

Agenda item : Declassify the Board of Directors.

16 Mar 16

Mallinckrodt plc

AGM

1a

For

Agenda item : Elect Director Melvin D. Booth.

UBS note : Nominee currently sits on an excessive number of boards.

Compensation.

16 Mar 16

Mallinckrodt plc

AGM

1b

For

Agenda item : Elect Director David R. Carlucci.

16 Mar 16

Mallinckrodt plc

AGM

1c

For

Agenda item : Elect Director J. Martin Carroll.

16 Mar 16

Mallinckrodt plc

AGM

1d

For

Agenda item : Elect Director Diane H. Gulyas.

16 Mar 16

Mallinckrodt plc

AGM

1e

For

Agenda item : Elect Director Nancy S. Lurker.

16 Mar 16

Mallinckrodt plc

AGM

1f

For

Agenda item : Elect Director JoAnn A. Reed.

16 Mar 16

Mallinckrodt plc

AGM

1g

For

Agenda item : Elect Director Angus C. Russell.

16 Mar 16

Mallinckrodt plc

AGM

1h

For

Agenda item : Elect Director Virgil D. Thompson.

16 Mar 16

Mallinckrodt plc

AGM

1i

For

Agenda item : Elect Director Mark C. Trudeau. Agenda item : Elect Director Kneeland C. Youngblood.

16 Mar 16

Mallinckrodt plc

AGM

1j

For

16 Mar 16

Mallinckrodt plc

AGM

1k

For

Agenda item : Elect Director Joseph A. Zaccagnino.

16 Mar 16

Mallinckrodt plc

AGM

2

For

Agenda item : Approve Deloitte & Touche LLP as Auditors and Authorise Board to Fix Their Remuneration.

16 Mar 16

Mallinckrodt plc

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

16 Mar 16

Mallinckrodt plc

AGM

4

For

Agenda item : Approve Qualified Employee Stock Purchase Plan.

16 Mar 16

Mallinckrodt plc

AGM

5

For

Agenda item : Authorise Share Repurchase up to 10 Percent of Issued Share

16 Mar 16

Mallinckrodt plc

AGM

6

For

Agenda item : Determine Price Range for Reissuance of Treasury Shares.

17 Mar 16

Keysight Technologies, Inc.

AGM

1.1

For

Agenda item : Elect Director James G. Cullen.

17 Mar 16

Keysight Technologies, Inc.

AGM

1.2

For

Agenda item : Elect Director Jean M. Halloran.

Compensation.

Capital.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments Agenda item : Elect Director Mark B. Templeton.

17 Mar 16

Keysight Technologies, Inc.

AGM

1.3

For

17 Mar 16

Keysight Technologies, Inc.

AGM

2

For

Agenda item : Ratify PricewaterhouseCoopers LLP as Auditors.

17 Mar 16

Keysight Technologies, Inc.

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1a

For

Agenda item : Elect Director Daniel Ammann.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1b

For

Agenda item : Elect Director Marc L. Andreessen.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1c

For

Agenda item : Elect Director Michael J. Angelakis.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1d

For

Agenda item : Elect Director Leslie A. Brun.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1e

For

Agenda item : Elect Director Pamela L. Carter.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1f

For

Agenda item : Elect Director Klaus Kleinfeld.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1g

For

Agenda item : Elect Director Raymond J. Lane.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1h

For

Agenda item : Elect Director Ann M. Livermore.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1i

For

Agenda item : Elect Director Raymond E. Ozzie.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1j

For

Agenda item : Elect Director Gary M. Reiner.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1k

For

Agenda item : Elect Director Patricia F. Russo.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1l

For

Agenda item : Elect Director Lip-Bu Tan.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1m

For

Agenda item : Elect Director Margaret C. Whitman.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

1n

For

Agenda item : Elect Director Mary Agnes Wilderotter.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

23 Mar 16

Hewlett Packard Enterprise Company

AGM

3

For

Agenda item : Advisory Vote to Ratify Named Executive Officers'

23 Mar 16

KeyCorp

EGM

1

For

Agenda item : Approve Merger Agreement.

23 Mar 16

KeyCorp

EGM

2a

For

Agenda item : Proposal to Approve a Provision Relating to the Mechanics and

23 Mar 16

KeyCorp

EGM

2b

For

Compensation.

Compensation.

Timing of Preferred Shareholders' Rights to Call Special Meetings. Agenda item : Proposal to Approve a Provision Requiring the Approval by Preferred Shareholders of Amendments of KeyCorp's Articles or Regulations that Would Adversely Affect Their Voting Powers, Rights or Preferences. 23 Mar 16

KeyCorp

EGM

2c

For

Agenda item : Proposal to Approve a Provision Requiring the Approval by Preferred Shareholders of Combinations, Majority Share Acquisitions, Mergers or Consolidations.

23 Mar 16

KeyCorp

EGM

3

For

Agenda item : Approve Increase in Size of Board.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

23 Mar 16

KeyCorp

EGM

4

For

Agenda item : Adjourn Meeting.

23 Mar 16

Starbucks Corporation

AGM

1a

For

Agenda item : Elect Director Howard Schultz.

23 Mar 16

Starbucks Corporation

AGM

1b

For

Agenda item : Elect Director William W. Bradley.

23 Mar 16

Starbucks Corporation

AGM

1c

For

Agenda item : Elect Director Mary N. Dillon.

23 Mar 16

Starbucks Corporation

AGM

1d

For

Agenda item : Elect Director Robert M. Gates.

23 Mar 16

Starbucks Corporation

AGM

1e

For

Agenda item : Elect Director Mellody Hobson.

23 Mar 16

Starbucks Corporation

AGM

1f

For

Agenda item : Elect Director Kevin R. Johnson.

23 Mar 16

Starbucks Corporation

AGM

1g

For

Agenda item : Elect Director Joshua Cooper Ramo.

23 Mar 16

Starbucks Corporation

AGM

1h

For

Agenda item : Elect Director James G. Shennan, Jr.

23 Mar 16

Starbucks Corporation

AGM

1i

For

Agenda item : Elect Director Clara Shih.

23 Mar 16

Starbucks Corporation

AGM

1j

For

Agenda item : Elect Director Javier G. Teruel.

23 Mar 16

Starbucks Corporation

AGM

1k

For

Agenda item : Elect Director Myron E. Ullman, III.

23 Mar 16

Starbucks Corporation

AGM

1l

For

Agenda item : Elect Director Craig E. Weatherup.

23 Mar 16

Starbucks Corporation

AGM

2

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

23 Mar 16

Starbucks Corporation

AGM

3

For

Agenda item : Amend Executive Incentive Bonus Plan.

23 Mar 16

Starbucks Corporation

AGM

4

For

Agenda item : Ratify Deloitte & Touche LLP as Auditors.

23 Mar 16

Starbucks Corporation

AGM

5

For

Agenda item : Proxy Access. UBS note : We will support reasonable proxy access proposals that enable shareholders to directly nominate directors.

23 Mar 16

Starbucks Corporation

AGM

6

Opposed

Agenda item : Amend Policies to Allow Employees to Participate in Political

29 Mar 16

Synopsys, Inc.

AGM

1.1

For

Agenda item : Elect Director Aart J. de Geus.

29 Mar 16

Synopsys, Inc.

AGM

1.10

For

Agenda item : Elect Director Steven C. Walske.

29 Mar 16

Synopsys, Inc.

AGM

1.2

For

Agenda item : Elect Director Chi-Foon Chan.

29 Mar 16

Synopsys, Inc.

AGM

1.3

For

Agenda item : Elect Director Alfred Castino.

29 Mar 16

Synopsys, Inc.

AGM

1.4

For

Agenda item : Elect Director Janice D. Chaffin.

29 Mar 16

Synopsys, Inc.

AGM

1.5

For

Agenda item : Elect Director Bruce R. Chizen.

29 Mar 16

Synopsys, Inc.

AGM

1.6

For

Agenda item : Elect Director Deborah A. Coleman.

29 Mar 16

Synopsys, Inc.

AGM

1.7

For

Agenda item : Elect Director Chrysostomos L. 'Max' Nikias.

29 Mar 16

Synopsys, Inc.

AGM

1.8

For

Agenda item : Elect Director John Schwarz.

Process with No Retribution.

Corporate governance – North America proxy voting from 01 Jan 16 to 31 Mar 16

Date

Company

Meeting (AGM/EGM)

Resolution Vote cast

Comments

29 Mar 16

Synopsys, Inc.

AGM

1.9

For

Agenda item : Elect Director Roy Vallee.

29 Mar 16

Synopsys, Inc.

AGM

2

Opposed

Agenda item : Amend Omnibus Stock Plan. UBS note : Dilution of executive remuneration scheme exceeds best practice guidelines.

29 Mar 16

Synopsys, Inc.

AGM

3

For

Agenda item : Amend Qualified Employee Stock Purchase Plan.

29 Mar 16

Synopsys, Inc.

AGM

4

For

Agenda item : Advisory Vote to Ratify Named Executive Officers' Compensation.

29 Mar 16

Synopsys, Inc.

AGM

5

For

Agenda item : Ratify KPMG LLP as Auditors.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.1

For

Agenda item : Elect Director William E. Bennett.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.10

For

Agenda item : Elect Director Karen E. Maidment.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.11

For

Agenda item : Elect Director Bharat B. Masrani.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.12

For

Agenda item : Elect Director Irene R. Miller.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.13

For

Agenda item : Elect Director Nadir H. Mohamed.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.14

For

Agenda item : Elect Director Claude Mongeau.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.2

For

Agenda item : Elect Director Amy W. Brinkley.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.3

For

Agenda item : Elect Director Brian C. Ferguson.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.4

For

Agenda item : Elect Director Colleen A. Goggins.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.5

For

Agenda item : Elect Director Mary Jo Haddad.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.6

For

Agenda item : Elect Director Jean-Rene Halde.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.7

For

Agenda item : Elect Director David E. Kepler.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.8

For

Agenda item : Elect Director Brian M. Levitt.

31 Mar 16

The Toronto-Dominion Bank

AGM

1.9

For

Agenda item : Elect Director Alan N. MacGibbon.

31 Mar 16

The Toronto-Dominion Bank

AGM

2

For

Agenda item : Ratify Ernst & Young LLP as Auditors.

31 Mar 16

The Toronto-Dominion Bank

AGM

3

For

Agenda item : Advisory Vote on Executive Compensation Approach.

31 Mar 16

The Toronto-Dominion Bank

AGM

4

Opposed

Agenda item : SP A: Simplify Financial Information.

31 Mar 16

The Toronto-Dominion Bank

AGM

5

Opposed

Agenda item : SP B: Pay Fair Share of Taxes.

UBS Asset Management (UK) Ltd and UBS Asset Management Funds Ltd are authorised and regulated by the Financial Conduct Authority. UBS Asset Management Life Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Telephone calls may be recorded. © UBS 2016. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. Please note that past performance is not a guide to the future. The value of investments and the income from them may go down as well as up, and investors may not get back the original amount invested. This document is a marketing communication. Any market or investment views expressed are not intended to be investment research. The document has not been prepared in line with the FCA requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. The information contained in this document should not be considered a recommendation to purchase or sell any particular security and the opinions expressed are those of UBS Asset Management and are subject to change without notice. Furthermore, there can be no assurance that any trends described in this document will continue or that forecasts will occur because economic and market conditions change frequently.

 UBS Asset Management (UK) Ltd 21 Lombard Street London EC3V 9AH Tel +44-(0)20-7901 5000 Fax +44-(0)20-7929 0487 www.ubs.com

This document does not create any legal or contractual obligation with UBS Asset Management. The recipient agrees that this information shall remain strictly confidential where it relates to the Investment Manager's business. The prior consent of UBS Asset Management (UK) Ltd should be obtained prior to the disclosure of commercially sensitive information to a third party (excluding the professional advisors of the recipient). Information reasonably deemed to be commercially sensitive and obtained from UBS Asset Management (UK) Ltd should not be disclosed. This information is supplied with a reasonable expectation that it will not be made public. If you receive a request under the Freedom of Information Act 2000 for information obtained from UBS Asset Management (UK) Ltd we ask that you consult with us. We also request that any information obtained from UBS Asset Management (UK) Ltd in your possession is destroyed as soon as it is no longer required. Where funds that track FTSE indices are mentioned, please note the following; “FTSE®” is a trade mark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited (“FTSE”) under licence. “All-Share” is a trademark of FTSE. The FTSE Indices are calculated by FTSE. FTSE does not sponsor, endorse or promote these products and is not in any way connected to them and does not accept any liability in relation to their issue, operation and trading. All copyright in the Index vests in FTSE. UBS Asset Management (UK) Ltd has obtained full licence from FTSE to use the Index in the creation of these products.

National Employment Savings Trust Corporation - NEST Pensions

    National Employment Savings Trust Corporation Quarterly accounting report to 31 March 2016 Corporate governance – UK proxy voting from 01...

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National Employment Savings Trust Corporation - NEST Pensions

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