Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019
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Reo@ Voting Report The SEI Emerging Markets Equity Fund VOTING RECORDS FROM:01/04/2019 TO: 30/06/2019 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019 3SBio, Inc. Meeting Date: 06/20/2019 Country: Cayman Islands Meeting Type: Annual Ticker: 1530 Primary ISIN: KYG8875G1029 Primary SEDOL: BY9D3L9 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Accept Financial Statements and Statutory Mgmt For For Reports 2A Elect Lou Jing as Director Mgmt For For Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. 2B Elect Tan Bo as Director Mgmt For For 2C Elect Pu Tianruo as Director Mgmt For For 2D Elect Wang Rui as Director Mgmt For For 2E Authorize Board to Fix Remuneration of Mgmt For For Directors 3 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration 4A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. 4B Authorize Repurchase of Issued Share Capital Mgmt For For 4C Authorize Reissuance of Repurchased Shares Mgmt For Against Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock. Agricultural Bank of China Meeting Date: 05/30/2019 Country: China Meeting Type: Annual Ticker: 1288 Primary ISIN: CNE100000Q43 Primary SEDOL: B60LZR6 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction AGM BALLOT FOR HOLDERS OF H SHARES Mgmt 1 Approve 2018 Work Report of the Board of Mgmt For For Directors Page 1 of 202 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019 Agricultural Bank of China Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 2 Approve 2018 Work Report of the Board of Mgmt For For Supervisors 3 Approve 2018 Final Financial Accounts Mgmt For For 4 Approve 2018 Profit Distribution Plan Mgmt For For 5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors 6 Elect Zhou Mubing as Director Mgmt For For Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. 7 Elect Cai Dong as Director Mgmt For For 8 Elect Wang Xinxin as Director Mgmt For For 9 Approve Issuance of Write-down Capital Bonds Mgmt For For 10 Elect Wu Jiangtao as Director SH For For 11 To Listen to the 2018 Work Report of Mgmt Independent Directors of the Bank 12 To Listen to the 2018 Report on the Mgmt Implementation of the Plan on Authorization of General Meeting of Shareholders to the Board of Directors of the Bank 13 To Listen to the Report on the Management of Mgmt Connected Transactions Airtac International Group Meeting Date: 06/21/2019 Country: Cayman Islands Meeting Type: Annual Ticker: 1590 Primary ISIN: KYG014081064 Primary SEDOL: B52J816 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Approve Business Operations Report and Mgmt For For Financial Statements 2 Approve Profit Distribution Mgmt For For ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING Page 2 of 202 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019 Airtac International Group Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 3.1 Elect LEONG KAM SON, with ID NO.A35166XXX, Mgmt For Against as Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Additionally, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. 3.2 Elect RENN JYH CHYANG, with ID Mgmt For For NO.R122268XXX, as Independent Director 3.3 Elect LIN YU YA., with ID NO.R221550XXX, as Mgmt For For Independent Director ELECT 6 NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING 3.4 Elect Non-Independent Director 1 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 3.5 Elect Non-Independent Director 2 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 3.6 Elect Non-Independent Director 3 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 3.7 Elect Non-Independent Director 4 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 3.8 Elect Non-Independent Director 5 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 3.9 Elect Non-Independent Director 6 SH None Against Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 4 Amend Articles of Association Mgmt For For 5 Amend Procedures for Lending Funds to Other Mgmt For For Parties 6 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets 7 Amend Trading Procedures Governing Mgmt For For Derivatives Products 8 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors. Page 3 of 202 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019 Ambev SA Meeting Date: 04/26/2019 Country: Brazil Meeting Type: Annual Ticker: ABEV3 Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2018 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities. 2 Approve Allocation of Income and Dividends Mgmt For For 3 Elect Fiscal Council Members Mgmt For Do Not Vote Voter Rationale: A DO NOT VOTE recommendation is warranted for management's fiscal council nominees, to allow minority shareholders to concentrate their votes on the election of a minority fiscal council candidate, as further discussed under Item 5 of this meeting agenda. 4 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. 5 Elect Aldo Luiz Mendes as Fiscal Council SH None For Member and Vinicius Balbino Bouhid as Alternate Appointed by Minority Shareholder 6 Approve Remuneration of Company's Mgmt For For Management 7 Approve Remuneration of Fiscal Council Mgmt For For Members 8 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call? Ambev SA Meeting Date: 04/26/2019 Country: Brazil Meeting Type: Special Ticker: ABEV3 Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7 Page 4 of 202 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Reporting Period: 04/01/2019 to 06/30/2019 Ambev SA Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Amend Article 5 to Reflect Changes in Capital Mgmt For For 2 Amend Article 16 Re: Decrease in Board Size Mgmt For For Voter Rationale: For maximum effectiveness a board should include between 5 and 15 directors. 3 Consolidate Bylaws Mgmt For For 4 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call? America Movil SAB de CV Meeting Date: 04/09/2019 Country: Mexico Meeting Type: Special Ticker: AMXL Primary ISIN: MXP001691213 Primary SEDOL: 2667470 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction Meeting for ADR Holders Mgmt 1 Elect or Ratify Directors for Series L Mgmt For Against Shareholders Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board. Additionally, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.