Proxy Advisory Services

At Proxy View we set ourselves on a path to become the leading provider of proxy advice services to investors.  Our focus is on the issuers listed on the JSE and A2X stock exchanges in South Africa.  We will craft distinctive and compelling products and services which will inspire responsible share-owner stewardship.

Our Proxy View team of analysts and researchers provide the following services.

Proxy research

For 2019 we plan to cover the top 150 issuers (2018 – top 100 issuers) listed on the JSE and A2X Stock Exchanges based on market capital.

In respect of each of these issuers the Proxy View team will research and publish a:

Proxy View Voting Paper

A voting sheet which reflects the way in which we would have voted on each of the shareholder resolutions at the upcoming AGM or GM.  This will always be based upon our standard voting policy guideline, which is freely available on our website.  This report enables a shareholder to exercise his/her share-ownership rights, and to vote in an informed manner at such issuer’s AGM or GM.  

In respect of those issuers where we identify areas of concern relating to their executive compensation plans, we would also research  and publish a:

Proxy View Compensation Paper

An in-depth analysis of the executive remuneration policy and implementation report of the issuer.  This will reflect our views on the level of disclosure, transparency and fair treatment of shareholders achieved by the board and management. It will always be based on a scrutiny of the published documents of the issuer, information made available on its website as well as from other sources which we believe are reliable.

Proxy View Core Report

This is done in respect of a limited number of issuers.

An in-depth analysis of the published reports of an issuer, from the viewpoint of a reasonable shareholder.  This relates to the level of disclosure, transparency and fairness achieved.   It covers executive compensation, environmental and social & governance issues.  It may include other matters we consider to be of importance to shareholders, and the actions needed from the board and management.

Shareholders are increasingly voting against the executive compensation reports of listed issuers, often for good reason.  To assist our clients in assessing the remuneration policies and reports of issuers we have developed the following documents, which can be downloaded free of charge:

Central to our services is the monitoring of issuers on behalf of our clients. We alert our clients to important corporate governance, social or environmental issues arising from specific analyses we have undertaken.

Policy development

At Proxy View we work with clients in developing their own voting and issuer engagement policies. This is based on our knowledge of the King IV Report on Corporate Governance for South Africa as well as the topical discussions of the day on environmental sustainability and social responsibility issues.

We assist clients in better understanding the corporate governance and social responsibility strategies of the issuers in their investment portfolios. To this end we increasingly see a willingness by these institutions and asset managers to engage an issuer on matters of concern.

Proxy voting

We provide a cost-effective vote execution process  and advice to our clients on voting templates, guidelines and execution administration.

We have attended many shareholder meetings of issuers and will continue to do so in future.   Our aim is to ask questions, including meetings with chairmen, chief executives and finance directors of issuers.

Data analysis

We record and analyse shareholder voting data available in the public domain.

Voting Guidelines

We publish our share-owner voting guidelines, and ensure that they are revised and updated at least annually.  Download a copy of our guidelines:

These guidelines set out our views on issues such as board composition, remuneration policies and management of social & environmental issues.

In-depth reports

We undertake ad hoc critique assignments for issuers under specific circumstances – see our Conflicts of Interest Policy for more details.  This is limited to their published reports on sustainability, executive compensation, corporate governance and corporate social responsibility policies.