Reo@ Voting Report
SEI Emerging Markets Equity Fund All Votes Report.
VOTING RECORDS FROM:01/04/2016 TO: 30/06/2016
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
AAC Technologies Holdings Inc.
Meeting Date: 05/30/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2018
Primary ISIN: KYG2953R1149 Primary SEDOL: B85LKS1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Mok Joe Kuen Richard as Director Mgmt For For
3b Elect Ingrid Chunyuan Wu as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3c Elect Tan Bian Ee as Director Mgmt For For
3d Authorize Board to Fix Directors' Fees Mgmt For For
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For For
8 Adopt New Articles of Association Mgmt For For
Accton Technology Corp.
Meeting Date: 06/17/2016 Country: Taiwan Meeting Type: Annual Ticker: 2345
Primary ISIN: TW0002345006 Primary SEDOL: 6005214
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
Page 1 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Accton Technology Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Plan on Profit Distribution Mgmt For For
BY-ELECT NON-INDEPENDENT DIRECTOR VIA Mgmt CUMULATIVE VOTING
4 By-elect Yu Chi Hsiang with Shareholder No.37 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Yu Chi Hsiang
Advanced Ceramic X Corp.
Meeting Date: 06/29/2016 Country: Taiwan Meeting Type: Annual Ticker: 3152
Primary ISIN: TW0003152005 Primary SEDOL: B04S935
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect JIANG,SYU-GAO as Independent Director Mgmt For For
4.2 Elect SUN,DA-WUN as Independent Director Mgmt For For
4.3 Elect CIN,SHANG-MIN as Independent Director Mgmt For For
4.4 Elect Non-Independent Director No. 1 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.5 Elect Non-Independent Director No. 2 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Page 2 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Advanced Ceramic X Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.6 Elect Non-Independent Director No. 3 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.7 Elect Non-Independent Director No. 4 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.8 Elect Non-Independent Director No. 5 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.9 Elect Non-Independent Director No. 6 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.10 Elect Non-Independent Director No. 7 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.11 Elect Non-Independent Director No. 8 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Advanced Semiconductor Engineering Inc.
Meeting Date: 06/28/2016 Country: Taiwan Meeting Type: Annual Ticker: 2311
Primary ISIN: TW0002311008 Primary SEDOL: 6056074
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
Page 3 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Advanced Semiconductor Engineering Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Issuance of Ordinary Shares and/or Mgmt For For Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt and/or Domestic Cash Increase by Issuance of Common Shares and/or Issuance of Convertible Bonds via Private Placement
5 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors
Agricultural Bank of China Limited
Meeting Date: 06/27/2016 Country: China Meeting Type: Annual Ticker: 1288
Primary ISIN: CNE100000RJ0 Primary SEDOL: B620Y41
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve Adjustment to the Mandate to the Mgmt For For Board for Bond Issuance
2 Approve 2015 Work Report of the Board of Mgmt For For Directors
3 Approve 2015 work Report of the Board of Mgmt For For Supervisors
4 Approve 2015 Final Financial Accounts Mgmt For For
5 Approve 2015 Profit Distribution Plan Mgmt For For
6 Elect Zhou Mubing as Director Mgmt For For
7 Appoint PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors
8 To Listen to the 2015 Work Report of Mgmt Independent Directors of the Bank
9 To Listen to the 2015 Report on the Mgmt Implementation of the Plan on Authorization of General Meeting of Shareholders to the Board of Directors of the Bank
10 To Listen to the Report on the Management of Mgmt Connected Transactions
Page 4 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
AIA Group Ltd.
Meeting Date: 05/06/2016 Country: Hong Kong Meeting Type: Annual Ticker: 1299
Primary ISIN: HK0000069689 Primary SEDOL: B4TX8S1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Swee-Lian Teo as Director Mgmt For For
4 Elect Narongchai Akrasanee as Director Mgmt For For
5 Elect George Yong-Boon Yeo as Director Mgmt For For
6 Elect Mark Edward Tucker as Director Mgmt For For
7 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
8A Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
8B Authorize Repurchase of Issued Share Capital Mgmt For For
8C Approve Allotment and Issuance of Additional Mgmt For For Shares Under the Restricted Share Unit Scheme
AirAsia Berhad
Meeting Date: 05/09/2016 Country: Malaysia Meeting Type: Special Ticker: AIRASIA
Primary ISIN: MYL5099OO006 Primary SEDOL: B03J9L7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Issuance of New Ordinary Shares to Mgmt For For Tune Live Sdn. Bhd.
Page 5 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
AirAsia Berhad
Meeting Date: 05/30/2016 Country: Malaysia Meeting Type: Annual Ticker: AIRASIA
Primary ISIN: MYL5099OO006 Primary SEDOL: B03J9L7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve First and Final Dividend Mgmt For For
2 Approve Remuneration of Directors Mgmt For For
3 Elect Aireen Omar as Director Mgmt For For
4 Elect Abdel Aziz @ Abdul Aziz Bin Abu Bakar as Mgmt For For Director
5 Elect Stuart L Dean as Director Mgmt For For
6 Elect Gnanaraja A/L M. Gnanasundram as Mgmt For For Director
7 Elect Mohamed Khadar Bin Merican as Director Mgmt For For
8 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
9 Approve Fam Lee Ee to Continue Office as Mgmt For For Independent Non-Executive Director
10 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
11 Approve Renewal of Existing Shareholders' Mgmt For For Mandate and Implementation of New Shareholders' Mandate for Recurrent Related Party Transactions
Alrosa PJSC
Meeting Date: 06/30/2016 Country: Russia Meeting Type: Annual Ticker: ALRS
Primary ISIN: RU0007252813 Primary SEDOL: B6QPBP2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income Mgmt For For
Page 6 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Alrosa PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Dividends Mgmt For For
5 Approve Regulations on Remuneration of Mgmt For For Directors
6 Approve Remuneration of Non-Government Mgmt For For Related Members of Board of Directors
7 Approve Remuneration of Non-Government Mgmt For For Related Members of Audit Commission
Elect 15 Directors by Cumulative Voting Mgmt
8.1 Elect Petr Alekseev as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.2 Elect Sergey Barsukov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.3 Elect Egor Borisov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.4 Elect Mikhail Bruk as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.5 Elect Aleksandr Galushka as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.6 Elect Mariya Gordon as Director Mgmt None For
8.7 Elect Evgenya Grigoreva as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.8 Elect Oleg Grinko as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 7 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Alrosa PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.9 Elect Galina Danchikova as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.10 Elect Andrey Zharkov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.11 Elect Valery Zhondorov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.12 Elect Valentina Kondrateva as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.13 Elect Valentina Lemesheva as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.14 Elect Vasily Lukin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.15 Elect Sergey Mestnikov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.16 Elect Anton Siluanov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.17 Elect Pavel Ulyanov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 8 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Alrosa PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.18 Elect Oleg Fedorov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
8.19 Elect Aleksey Chekunkov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Five Members of Audit Commission Mgmt
9.1 Elect Anna Vasileva as Member of Audit Mgmt For For Commission
9.2 Elect Aleksandr Vasilchenko as Member of Audit Mgmt For For Commission
9.3 Elect Andrey Glinov as Member of Audit Mgmt For For Commission
9.4 Elect Marina Mikhina as Member of Audit Mgmt For For Commission
9.5 Elect Viktor Pushmin as Member of Audit Mgmt For For Commission
10 Ratify Auditor Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
11 Amend Charter Mgmt For For
12 Amend Regulations on General Meetings Mgmt For For
13 Amend Regulations on Board of Directors Mgmt For For
14 Approve Company's Corporate Governance Mgmt For For Statement
15 Approve Company's Membership in Council for Mgmt For For Responsible Jewellery Practices
16 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors and Executives
Alsea S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual Ticker: ALSEA *
Primary ISIN: MXP001391012 Primary SEDOL: 2563017
Page 9 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Alsea S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Annual Report on Operations Carried Mgmt For For by Key Board Committees
3 Elect or Ratify Directors, Key Management and Mgmt For For Members of Board Committees Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
4 Approve Remuneration of Directors, Key Mgmt For For Management and Members of Board Committees
5 Set Maximum Amount of Share Repurchase Mgmt For For Reserve; Present Report on Share Repurchase
6 Approve Dividends Mgmt For For
Alsea S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Special Ticker: ALSEA *
Primary ISIN: MXP001391012 Primary SEDOL: 2563017
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Cancellation of Treasury Shares and Mgmt For For Consequently Capital Reduction; Amend Articles Accordingly
2 Approve Absorption of Controladora de Mgmt For For Restaurantes ACD SA de CV, Consultores Profesionales de Comida Casual SA de CV and SC de Mexico SA de CV
3 Amend Articles to Comply with Current Mgmt For For Legislation; Consolidate Articles
4 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Page 10 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Ambev S.A.
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Special Ticker: ABEV3
Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Agreement to Absorb Cervejarias Mgmt For For Reunidas Skol Caracu SA and Eagle Distribuidora de Bebidas SA
2 Appoint APSIS Consultoria Empresarial Ltda. as Mgmt For For the Independent Firm to Appraise Proposed Transaction
3 Approve Independent Firm's Appraisal Mgmt For For
4 Approve Absorption of Cervejarias Reunidas Mgmt For For Skol Caracu SA and Eagle Distribuidora de Bebidas SA
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
6 Approve Restricted Stock Plan Mgmt For Against
Voter Rationale: The link between pay and performance has not been clearly disclosed.
Ambev S.A.
Meeting Date: 04/29/2016 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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members and Alternates Mgmt For Do Not Vote
Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
3.1 Elect Fiscal Council Member Appointed by SH None For Minority Shareholder
Page 11 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Ambev S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Ratify Remuneration for Fiscal Year 2015 and Mgmt For Against Approve Remuneration of Company's Management and Fiscal Council Members for Fiscal Year 2016 Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Ambev S.A.
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual/Special Ticker: ABEV3
Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members and Alternates Mgmt For For
4 Ratify Remuneration for Fiscal Year 2015 and Mgmt For Against Approve Remuneration of Company's Management and Fiscal Council Members for Fiscal Year 2016
Special Meeting Mgmt
1 Approve Agreement to Absorb Cervejarias Mgmt For For Reunidas Skol Caracu SA and Eagle Distribuidora de Bebidas SA
2 Appoint APSIS Consultoria Empresarial Ltda. as Mgmt For For the Independent Firm to Appraise Proposed Transaction
3 Approve Independent Firm's Appraisal Mgmt For For
4 Approve Absorption of Cervejarias Reunidas Mgmt For For Skol Caracu SA and Eagle Distribuidora de Bebidas SA
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
6 Approve Restricted Stock Plan Mgmt For Against
Voter Rationale: The link between pay and performance has not been clearly disclosed.
Page 12 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
America Movil S.A.B. de C.V.
Meeting Date: 04/18/2016 Country: Mexico Meeting Type: Special Ticker: AMX L
Primary ISIN: MXP001691213 Primary SEDOL: 2667470
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Only Series L Shares Have Voting Rights Mgmt
1 Elect Directors for Series L Shares Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
America Movil S.A.B. de C.V.
Meeting Date: 04/18/2016 Country: Mexico Meeting Type: Special Ticker: AMX L
Primary ISIN: MXP001691213 Primary SEDOL: 2667470
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Only Series L Shares Have Voting Rights Mgmt
1 Elect Directors for Series L Shares Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Meeting Date: 04/14/2016 Country: Turkey Meeting Type: Annual Ticker: AEFES
Primary ISIN: TRAAEFES91A9 Primary SEDOL: B03MNV4
Page 13 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Amend Articles to Reflect Changes in Capital Mgmt For For
7 Approve Allocation of Income Mgmt For For
8 Elect Directors and Approve Their Remuneration Mgmt For Against
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. Furthermore, companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
9 Ratify External Auditors Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
10 Receive Information on Charitable Donations for Mgmt 2015
11 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
12 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
13 Wishes Mgmt
Angang Steel Company Limited
Meeting Date: 06/08/2016 Country: China Meeting Type: Annual Ticker: 347
Primary ISIN: CNE1000001V4 Primary SEDOL: 6015644
Page 14 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Angang Steel Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Annual Report and Its Extracts Mgmt For For
4 Approve 2015 Auditors' Report Mgmt For For
5 Approve 2015 Profit Distribution Plan Mgmt For For
6 Approve 2015 Remuneration of Directors and Mgmt For For Supervisors
7 Approve Ruihua Certified Public Accountants Mgmt For For (Special General Partnership) as Auditors and Authorize Board to Fix Their Remuneration
ELECT 4 EXECUTIVE DIRECTORS VIA Mgmt CUMULATIVE VOTING
8.1 Elect Yao Lin as Director Mgmt For For
8.2 Elect Wang Yidong as Director Mgmt For For
8.3 Elect Li Zhongwu as Director Mgmt For For
8.4 Elect Zhang Jingfan as Director Mgmt For For
ELECT 3 INDEPENDENT NON-EXECUTIVE Mgmt DIRECTORS VIA CUMULATIVE VOTING
9.1 Elect Wu Dajun as Director Mgmt For For
9.2 Elect Ma Weiguo as Director Mgmt For For
9.3 Elect Luo Yucheng as Director Mgmt For For
ELECT 2 SUPERVISORS VIA CUMULATIVE Mgmt VOTING
10.1 Elect Lin Daqing as Supervisor Mgmt For For
10.2 Elect Liu Xiaohui as Supervisor Mgmt For For
11 Approve Issuance of Short-Term Financing Bills Mgmt For For
12 Amend Articles of Association Mgmt For For
Page 15 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
AngloGold Ashanti Ltd
Meeting Date: 05/04/2016 Country: South Africa Meeting Type: Annual Ticker: ANG
Primary ISIN: ZAE000043485 Primary SEDOL: 6565655
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1.1 Re-elect Rhidwaan Gasant as Director Mgmt For For
1.2 Re-elect Michael Kirkwood as Director Mgmt For For
1.3 Re-elect Srinivasan Venkatakrishnan as Director Mgmt For For
1.4 Re-elect Dave Hodgson as Director Mgmt For For
2 Reappoint Ernst & Young Inc as Auditors of the Mgmt For For Company
3.1 Re-elect Rhidwaan Gasant as Member of the Mgmt For For Audit and Risk Committee
3.2 Re-elect Wiseman Nkuhlu as Member of the Mgmt For For Audit and Risk Committee
3.3 Re-elect Michael Kirkwood as Member of the Mgmt For For Audit and Risk Committee
3.4 Re-elect Rodney Ruston as Member of the Audit Mgmt For For and Risk Committee
3.5 Re-elect Albert Garner as Member of the Audit Mgmt For For and Risk Committee
3.6 Re-elect Maria Richter as Member of the Audit Mgmt For For and Risk Committee
4 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
5 Approve Increase in the Aggregate Limit of Mgmt For Against Shares to be Utilised for Purposes of the Share Incentive Schemes Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
6 Amend Long Term Incentive Plan Mgmt For For
7 Approve Remuneration Policy Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
8 Approve Non-executive Directors' Remuneration Mgmt For For
9 Authorise Board to Issue Shares for Cash Mgmt For For
10 Authorise Repurchase of Issued Share Capital Mgmt For For
Page 16 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
AngloGold Ashanti Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 Approve Financial Assistance in Terms of Mgmt For Against Sections 44 and 45 of the Companies Act Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
12 Approve Increase in Authorised Share Capital by Mgmt For For the Creation of C Redeemable Preference Shares
13 Amend Memorandum of Incorporation Mgmt For For
14 Authorise Ratification of Approved Resolutions Mgmt For For
Anhui Conch Cement Company Ltd
Meeting Date: 06/02/2016 Country: China Meeting Type: Annual Ticker: 914
Primary ISIN: CNE0000019V8 Primary SEDOL: 6441595
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audited Financial Reports Mgmt For For Prepared Under the PRC Accounting Standards and International Financial Reporting Standards Respectively
4 Approve 2015 Profit Appropriation Proposal and Mgmt For For Declaration of Final Dividend
5 Approve KPMG Huazhen LLP as PRC and Mgmt For For Internal Control Auditor, KPMG as International Financial Auditor and Authorize Board to Fix Their Remuneration
6 Approve Provision of Guarantee to Subsidiaries Mgmt For Against
Voter Rationale: In the absence of sufficient relevant information, the risks and benefits of the proposed provision of guarantees cannot be examined.
7a Elect Gao Dengbang as Director Mgmt For For
7b Elect Wang Jianchao as Director Mgmt For For
7c Elect Wu Bin as Director Mgmt For For
Page 17 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Anhui Conch Cement Company Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7d Elect Ding Feng as Director Mgmt For For
7e Elect Zhou Bo as Director Mgmt For For
7f Elect Yang Mianzhi as Director Mgmt For For
7g Elect Tai Kwok Leung as Director Mgmt For For
7h Elect Tat Kwong Simon Leung as Director Mgmt For For
8a Elect Qi Shengli as Supervisor Mgmt For For
8b Elect Wang Pengfei as Supervisor Mgmt For For
9 Amend Articles of Association Mgmt For For
10 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
Anta Sports Products Ltd.
Meeting Date: 04/06/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2020
Primary ISIN: KYG040111059 Primary SEDOL: B1YVKN8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Approve Special Dividend Mgmt For For
4 Elect Ding Shizhong as Director Mgmt For For
5 Elect Zheng Jie as Director Mgmt For For
6 Elect Dai Zhongchuan as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
8 Approve KPMG as Auditor and Authorize Board Mgmt For For to Fix Their Remuneration
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
10 Authorize Repurchase of Issued Share Capital Mgmt For For
11 Authorize Reissuance of Repurchased Shares Mgmt For Against
Page 18 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Arca Continental S.A.B. de C.V.
Meeting Date: 04/14/2016 Country: Mexico Meeting Type: Annual Ticker: AC *
Primary ISIN: MX01AC100006 Primary SEDOL: 2823885
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Approve CEO's Report on Operations and Mgmt For For Results of Company Accompanied by Auditor's Report and Board's Opinion
1.2 Approve Report on Operations and Activities Mgmt For For Undertaken by Board and Principal Accounting Policies and Criteria and Information Followed in Preparation of Financial Information
1.3 Approve Report of Audit and Corporate Practices Mgmt For For Committee; Receive Report on Adherence to Fiscal Obligations
2 Approve Allocation of Income and Cash Mgmt For For Dividends of MXN 1.85 Per Share
3 Set Maximum Nominal Amount of Share Mgmt For For Repurchase Reserve
4 Elect Directors, Verify Independence of Board Mgmt For Against Members, Approve their Remuneration and Elect Secretaries Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Approve Remuneration of Board Committee Mgmt For Against Members; Elect Chairman of Audit and Corporate Practices Committee Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Appoint Legal Representatives Mgmt For For
7 Approve Minutes of Meeting Mgmt For For
Arcos Dorados Holdings Inc.
Meeting Date: 04/25/2016 Country: Virgin Isl (UK) Meeting Type: Annual Ticker: ARCO
Primary ISIN: VGG0457F1071 Primary SEDOL: B529PQ0
Page 19 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Arcos Dorados Holdings Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve EY (Pistrelli, Henry Martin y Asociados Mgmt For For S.R.L., member firm of Ernst & Young Global)as Auditors and Authorize Board to Fix Their Remuneration Auditors
3.1 Elect Directors Annette Franqui Mgmt For Withhold
Voter Rationale: For controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, the compensation committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Additionally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.
3.2 Elect Directors Carlos Hernandez-Artigas Mgmt For Withhold
Voter Rationale: For controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity. Furthermore, the compensation committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.
Asian Pay Television Trust
Meeting Date: 04/21/2016 Country: Singapore Meeting Type: Annual Ticker: S7OU
Primary ISIN: SG2F77993036 Primary SEDOL: B6VG8G0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Adopt Report of the Trustee-Manager, Mgmt For For Statement by the Trustee-Manager, Audited Financial Statements and Auditors' Report Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Deloitte & Touche LLP as Auditors and Mgmt For For Authorize the Board of the Trustee-Manager to Fix Their Remuneration
3 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities with or 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.
Page 20 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Asseco Poland S.A.
Meeting Date: 04/29/2016 Country: Poland Meeting Type: Annual Ticker: ACP
Primary ISIN: PLSOFTB00016 Primary SEDOL: 5978953
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting; Elect Meeting Chairman Mgmt For For
2 Acknowledge Proper Convening of Meeting; Mgmt For For Elect Members of Vote Counting Commission
3 Approve Agenda of Meeting Mgmt For For
4 Receive Report on Company's and Group's Mgmt Financial Results in Fiscal 2015
5 Receive Management Board Report on Mgmt Company's Operations in Fiscal 2015
6 Receive Financial Statements for Fiscal 2015 Mgmt
7 Receive Auditor's Opinion on Financial Mgmt Statements for Fiscal 2015
8 Receive Supervisory Board Reports for Fiscal Mgmt 2015
9.1 Approve Management Board Report on Mgmt For For Company's Operations for Fiscal 2015
9.2 Approve Financial Statements for Fiscal 2015 Mgmt For For
10 Receive Management Board Report on Group's Mgmt Operations and Consolidated Financial Statements for Fiscal 2015
11 Receive Auditor's Opinion on Consolidated Mgmt Financial Statements for Fiscal 2015
12 Approve Consolidated Financial Statements and Mgmt For For Management Board Report on Group's Operations for Fiscal 2015
13.1 Approve Discharge of Adam Goral (Management Mgmt For For Board Member)
13.2 Approve Discharge of Zbigniew Pomianek Mgmt For For (Management Board Member)
13.3 Approve Discharge of Przemyslaw Borzestowski Mgmt For For (Management Board Member)
13.4 Approve Discharge of Marek Panek Mgmt For For (Management Board Member)
13.5 Approve Discharge of Przemyslaw Seczkowski Mgmt For For (Management Board Member)
13.6 Approve Discharge of Robert Smulkowski Mgmt For For (Management Board Member)
Page 21 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Asseco Poland S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13.7 Approve Discharge of Wlodzimierz Serwinski Mgmt For For (Management Board Member)
13.8 Approve Discharge of Tadeusz Dyrga Mgmt For For (Management Board Member)
13.9 Approve Discharge of Pawel Piwowar Mgmt For For (Management Board Member)
13.10 Approve Discharge of Rafal Kozlowski Mgmt For For (Management Board Member)
13.11 Approve Discharge of Andrzej Dopierala Mgmt For For (Management Board Member)
14.1 Approve Discharge of Jacek Duch (Supervisory Mgmt For For Board Member)
14.2 Approve Discharge of Adam Noga (Supervisory Mgmt For For Board Member)
14.3 Approve Discharge of Dariusz Brzeski Mgmt For For (Supervisory Board Member)
14.4 Approve Discharge of Artur Kucharski Mgmt For For (Supervisory Board Member)
14.5 Approve Discharge of Dariusz Stolarczyk Mgmt For For (Supervisory Board Member)
14.6 Approve Discharge of Piotr Augustyniak Mgmt For For (Supervisory Board Member)
15 Approve Allocation of Income and Dividends of Mgmt For For PLN 3.01 per Share
16.1 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16.2 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16.3 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16.4 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16.5 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16.6 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 22 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Asseco Poland S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
17 Approve Remuneration of Supervisory Board Mgmt For For Members
18.1 Approve Sale of Organized Part of Enterprise Mgmt For For Asseco Poland S.A.
18.2 Approve Sale of Organized Part of Enterprise Mgmt For For Asseco Poland S.A.
19 Approve Merger with Infovide-Matrix S.A. Mgmt For For
20 Close Meeting Mgmt
ASUSTeK Computer Inc.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 2357
Primary ISIN: TW0002357001 Primary SEDOL: 6051046
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
Axis Bank Ltd.
Meeting Date: 05/07/2016 Country: India Meeting Type: Special Ticker: 532215
Primary ISIN: INE238A01034 Primary SEDOL: BPFJHC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Reappointment and Remuneration of Mgmt For For Sanjiv Misra as Non-Executive Chairman
2 Adopt New Articles of Association Mgmt For For
Page 23 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Ayala Corporation
Meeting Date: 04/15/2016 Country: Philippines Meeting Type: Annual Ticker: AC
Primary ISIN: PHY0486V1154 Primary SEDOL: B09JBT3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Approve Annual Report Mgmt For For
3 Amend the Fourth Article of the Articles of Mgmt For For Incorporation to Extend the Corporate Term for 50 years from January 23, 2018
Elect 7 Directors by Cumulative Voting Mgmt
4.1 Elect Jaime Augusto Zobel de Ayala as Director Mgmt For For
4.2 Elect Fernando Zobel de Ayala as Director Mgmt For For
4.3 Elect Yoshio Amano as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness
4.4 Elect Ramon R. del Rosario, Jr. as Director Mgmt For For
4.5 Elect Delfin L. Lazaro as Director Mgmt For For
4.6 Elect Xavier P. Loinaz as Director Mgmt For For
4.7 Elect Antonio Jose U. Periquet as Director Mgmt For For
5 Elect SyCip Gorres Velayo & Co. as Independent Mgmt For For Auditor and Fix Its Remuneration
6 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
B2W Companhia Digital
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Annual Ticker: BTOW3
Primary ISIN: BRBTOWACNOR8 Primary SEDOL: B1LH3Y1
Page 24 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
B2W Companhia Digital
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
B2W Companhia Digital
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Special Ticker: BTOW3
Primary ISIN: BRBTOWACNOR8 Primary SEDOL: B1LH3Y1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 3 Re: Corporate Purpose Mgmt For For
2 Amend Article 5 to Reflect Changes in Capital Mgmt For For
3 Amend Stock Option Plan Mgmt For Against
Voter Rationale: Performance conditions have not been disclosed.
4 Consolidate Bylaws Mgmt For For
B2W Companhia Digital
Meeting Date: 05/31/2016 Country: Brazil Meeting Type: Special Ticker: BTOW3
Primary ISIN: BRBTOWACNOR8 Primary SEDOL: B1LH3Y1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Issuance of Shares for a Private Mgmt For For Placement
2 Approve Increase in Authorized Capital and Mgmt For For Amend Article 5
Page 25 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Banco do Brasil S.A.
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual Ticker: BBAS3
Primary ISIN: BRBBASACNOR3 Primary SEDOL: 2328595
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, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members Mgmt For For
3.1 Elect Fiscal Council Member Appointed by SH None Do Not Vote Minority Shareholder Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
4 Elect Directors Mgmt For Against
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.
5 Approve Remuneration of Fiscal Council Mgmt For For Members
6 Approve Remuneration of Company's Mgmt For For Management
Banco do Brasil S.A.
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Special Ticker: BBAS3
Primary ISIN: BRBBASACNOR3 Primary SEDOL: 2328595
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Authorize Capitalization of Reserves Mgmt For For
2 Amend Article 7 to Reflect Changes in Capital Mgmt For For
3 Ratify Francisco Gaetani as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 26 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Banco Santander Brasil SA
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: SANB4
Primary ISIN: BRSANBACNPR5 Primary SEDOL: 2835578
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Banco Santander Chile
Meeting Date: 04/26/2016 Country: Chile Meeting Type: Annual Ticker: BSANTANDER
Primary ISIN: CLP1506A1070 Primary SEDOL: 2000257
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income and Dividends of Mgmt For For CLP 1.79 Per Share
3 Appoint PriceWaterhouseCoopers as Auditors Mgmt For For
4 Designate Fitch Ratings and Feller-Rate as Risk Mgmt For For Assessment Companies
5 Elect Andreu Plaza and Ana Dorrego as Mgmt For Against Directors 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.
6 Approve Remuneration of Directors Mgmt For For
7 Approve Remuneration and Budget of Directors' Mgmt For For Committee and Audit Committee; Receive Directors and Audit Committee's Report
Page 27 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Banco Santander Chile
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Receive Report Regarding Related-Party Mgmt Transactions
9 Transact Other Business Mgmt
Bangkok Bank Public Co. Ltd
Meeting Date: 04/12/2016 Country: Thailand Meeting Type: Annual Ticker: BBL
Primary ISIN: TH0001010006 Primary SEDOL: 6077008
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Operational Results Mgmt
3 Acknowledge Audit Committee Report Mgmt
4 Accept Financial Statements Mgmt For For
5 Approve Allocation of Income and Dividend Mgmt For For Payment
6.1 Elect Chatri Sophonpanich as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
6.2 Elect Piti Sithi-Amnuai as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
6.3 Elect Amorn Chandarasomboon as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity
6.4 Elect Phornthep Phornprapha as Director Mgmt For For
6.5 Elect Gasinee Witoonchart as Director Mgmt For For
6.6 Elect Chansak Fuangfu as Director Mgmt For For
7 Elect Pailin Chuchottaworn as Director Mgmt For Against
8 Approve Remuneration of Directors Mgmt
9 Approve Deloitte Touche Tohmatsu Jaiyos Audit Mgmt For For Co., Ltd. as Auditors and Authorize Board to Fix Their Remuneration
Page 28 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Bangkok Bank Public Co. Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Bangkok Dusit Medical Services PCL
Meeting Date: 04/21/2016 Country: Thailand Meeting Type: Annual Ticker: BDMS
Primary ISIN: TH0264A10Z04 Primary SEDOL: BLZGSL6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Company's Performance Mgmt
3 Accept Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Elect Santasiri Sornmani as Director Mgmt For Against
Voter Rationale:
For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.2 Elect Chavalit Sethameteekul as Director Mgmt For For
5.3 Elect Sombut Uthaisang as Director Mgmt For For
5.4 Elect Att Thongtang as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Bangkok Expressway and Metro Public Company Limited
Meeting Date: 04/05/2016 Country: Thailand Meeting Type: Annual Ticker: BEM
Primary ISIN: TH6999010007 Primary SEDOL: BYV76L0
Page 29 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Bangkok Expressway and Metro Public Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge Operating Results for 2015 Mgmt
2 Accept Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividend Mgmt For For Payment
4.1 Elect Virabongsa Ramangkura as Director Mgmt For For
4.2 Elect Sampao Choosri as Director Mgmt For For
4.3 Elect Vallapa Assakul as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
4.4 Elect Prasobchai Kasemsant as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
4.5 Elect Werapong Suppasedsak as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
4.6 Elect Tana Janusorn as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
5 Approve Remuneration of Directors Mgmt For For
6 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
7 Authorize Issuance of Debentures Mgmt For For
8 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Bank of China Limited
Meeting Date: 06/07/2016 Country: China Meeting Type: Annual Ticker: 3988
Primary ISIN: CNE1000001Z5 Primary SEDOL: B154564
Page 30 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Bank of China Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Work Report of Board of Directors Mgmt For For
2 Approve 2015 Work Report of Board of Mgmt For For Supervisors
3 Approve 2015 Annual Financial Statements Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve 2016 Annual Budget for Fixed Assets Mgmt For For Investment
6 Approve Ernst & Young Hua Ming as External Mgmt For For Auditor
7.1 Elect Tian Guoli as Director Mgmt For For
7.2 Elect Wang Yong as Director Mgmt For Against
8.1 Elect Lu Zhengfei as Director Mgmt For For
8.2 Elect Leung Cheuk Yan as Director Mgmt For For
8.3 Elect Wang Changyun as Director Mgmt For For
9.1 Elect Li Jun as Supervisor Mgmt For For
9.2 Elect Wang Xueqiang as Supervisor Mgmt For For
9.3 Elect Liu Wanming as Supervisor Mgmt For For
10 Approve Issuance of Bonds Mgmt For For
11 Approve Issuance of Qualified Write-Down Mgmt For For Tier-2 Capital Instruments
Banpu PCL
Meeting Date: 04/19/2016 Country: Thailand Meeting Type: Annual Ticker: BANPU
Primary ISIN: TH0148A10Z06 Primary SEDOL: BJFHBV6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt
2 Acknowledge Operational Results and Director's Mgmt For For Report
Page 31 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Banpu PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Accept Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Elect Anon Sirisaengtaksin as Director Mgmt For For
5.2.1 Elect Teerana Bhongmakapat as Director Mgmt For For
5.2.2 Elect Sudiarso Prasetio as Director Mgmt For For
5.2.3 Elect Rawi Corsiri as Director Mgmt For Against
Voter Rationale:
For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.2.4 Elect Chanin Vongkusolkit as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve PricewaterhouseCoopers ABAS as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
8 Reduce Registered Capital and Amendment of Mgmt For For Memorandum of Association to Reflect Decrease in Registered Share Capital
9 Increase Registered Share Capital and Mgmt For For Amendment of Memorandum of Association to Reflect Increase in Registered Share Capital
10.1 Approve Issue of Warrants to Existing Mgmt For For Shareholders
10.2 Approve Allocation of Shares to Existing Mgmt For For Shareholders
11 Other Business Mgmt
Barclays Africa Group Ltd
Meeting Date: 05/17/2016 Country: South Africa Meeting Type: Annual Ticker: BGA
Primary ISIN: ZAE000174124 Primary SEDOL: B844WD0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2015
Page 32 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Barclays Africa Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.1 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company with Keith Ackerman as the Designated Auditor
2.2 Reappoint Ernst & Young Inc as Auditors of the Mgmt For For Company with Emilio Pera as the Designated Auditor
2.3 Appoint KPMG Inc as Auditors of the Company Mgmt For For with Pierre Fourie as the Designated Auditor
2.4 Reappoint Ernst & Young Inc as Auditors of the Mgmt For For Company with Ernest van Rooyen as the Designated Auditor
3.1 Re-elect Yolanda Cuba as Director Mgmt For Against
Voter Rationale:
Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3.2 Re-elect Mohamed Husain as Director Mgmt For For
3.3 Re-elect Trevor Munday as Director Mgmt For For
3.4 Re-elect Mark Merson as Director Mgmt For For
3.5 Re-elect David Hodnett as Director Mgmt For For
4.1 Elect Paul O'Flaherty as Director Mgmt For For
5.1 Re-elect Colin Beggs as Member of the Group Mgmt For For Audit and Compliance Committee
5.2 Re-elect Mohamed Husain as Member of the Mgmt For For Group Audit and Compliance Committee
5.3 Re-elect Trevor Munday as Member of the Mgmt For For Group Audit and Compliance Committee
5.4 Re-elect Alex Darko as Member of the Group Mgmt For For Audit and Compliance Committee
5.5 Elect Paul O'Flaherty as Member of the Group Mgmt For For Audit and Compliance Committee
6 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
7 Approve Remuneration Policy Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
8 Approve Remuneration of Non-Executive Mgmt For For Directors
9 Authorise Repurchase of Issued Share Capital Mgmt For For
10 Approve Financial Assistance to Related or Mgmt For Against Inter-related Company or Corporation Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
Page 33 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
BB Seguridade Participacoes S.A.
Meeting Date: 04/20/2016 Country: Brazil Meeting Type: Annual Ticker: BBSE3
Primary ISIN: BRBBSEACNOR5 Primary SEDOL: B9N3SQ0
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, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members Mgmt For For
3.1 Elect Fiscal Council Member Appointed by SH None Abstain Minority Shareholder Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
4 Approve Remuneration of Fiscal Council Mgmt For For Members
5 Elect Director Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Approve Remuneration of Company's Mgmt For For Management
BDO Unibank Inc.
Meeting Date: 04/22/2016 Country: Philippines Meeting Type: Annual Ticker: BDO
Primary ISIN: PHY077751022 Primary SEDOL: B5VJH76
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Minutes of the Annual Shareholders' Mgmt For For Meeting Held on April 24, 2015
4 Approve Report of the President and Audited Mgmt For For Financial Statements as of Dec. 31, 2015
6 Approve and Ratify All Acts of the Board of Mgmt For For Directors, Board Committees, and Management During Their Term of Office
Elect 11 Directors by Cumulative Voting Mgmt
7.1 Elect Teresita T. Sy as Director Mgmt For For
Page 34 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
BDO Unibank Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.2 Elect Jesus A. Jacinto, Jr. as Director Mgmt For For
7.3 Elect Nestor V. Tan as Director Mgmt For For
7.4 Elect Christopher A. Bell-Knight as Director Mgmt For For
7.5 Elect Antonio C. Pacis as Director Mgmt For For
7.6 Elect Josefina N. Tan as Director Mgmt For For
7.7 Elect Jose F. Buenaventura as Director Mgmt For For
7.8 Elect Jones M. Castro, Jr. as Director Mgmt For For
7.9 Elect Dioscoro I. Ramos as Director Mgmt For For
7.10 Elect Jimmy T. Tang as Director Mgmt For For
7.11 Elect Gilberto C. Teodoro, Jr. as Director Mgmt For For
8 Appoint External Auditor Mgmt For For
9 Approve Placing and Subscription Transaction in Mgmt For For Connection with the Acquisition of One Network Bank, Inc. (A Rural Bank)
Beijing Capital International Airport Co., Ltd.
Meeting Date: 06/29/2016 Country: China Meeting Type: Annual Ticker: 694
Primary ISIN: CNE100000221 Primary SEDOL: 6208422
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Report of the Supervisory Mgmt For For Committee Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2015 Audited Financial Statements and Mgmt For For Independent Auditor's Report Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2015 Profit Distribution Proposal Mgmt For For
Page 35 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Beijing Capital International Airport Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as PRC Auditors and PricewaterhouseCoopers as International Auditors and Authorize Board to Fix Their Remuneration
Beijing Enterprises Holdings Ltd.
Meeting Date: 06/16/2016 Country: Hong Kong Meeting Type: Annual Ticker: 392
Primary ISIN: HK0392044647 Primary SEDOL: 6081690
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Hou Zibo as Director Mgmt For For
3.2 Elect Li Yongcheng as Director Mgmt For For
3.3 Elect Tam Chun Fai as Director Mgmt For For
3.4 Elect Fu Tingmei as Director Mgmt For For
3.5 Elect Yu Sun Say as Director Mgmt For For
3.6 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration Voter Rationale:
Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
7 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.
Page 36 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Bharat Petroleum Corporation Ltd.
Meeting Date: 05/31/2016 Country: India Meeting Type: Special Ticker: BPCL
Primary ISIN: INE029A01011 Primary SEDOL: 6099723
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Increase in Limit on Foreign Mgmt For For Shareholdings
BM&FBOVESPA S.A.
Meeting Date: 04/18/2016 Country: Brazil Meeting Type: Annual Ticker: BVMF3
Primary ISIN: BRBVMFACNOR3 Primary SEDOL: B2RHNV9
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, 2015
2 Approve Allocation of Income Mgmt For For
3 Elect Director Mgmt For For
4 Approve Remuneration of Company's Mgmt For For Management
BM&FBOVESPA S.A.
Meeting Date: 05/20/2016 Country: Brazil Meeting Type: Special Ticker: BVMF3
Primary ISIN: BRBVMFACNOR3 Primary SEDOL: B2RHNV9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Capital Increase of Wholly-Owned Mgmt For For Subsidiary Companhia Sao Jose Holding
Page 37 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
BM&FBOVESPA S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Merger Agreement between the Mgmt For For Company and CETIP S.A. - Mercados Organizados
3 Ratify Apsis Consultoria e Avaliacoes Ltda as the Mgmt For For Independent Firm to Appraise Proposed Transaction
4 Approve Independent Firm's Appraisal Mgmt For For
5 Approve Merger between the Company and Mgmt For For CETIP S.A. - Mercados Organizados
6 Approve Issuance of Shares in Connection with Mgmt For For the Merger
7.A Amend Articles 3, 22, 28, 35, 30, 45, 51 and 84 Mgmt For For
7.B Amend Articles 10, 16, 23, 30, 35, 53, 29, 38, Mgmt For For 45, 50, 80 and 82
8 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Braskem S.A.
Meeting Date: 04/06/2016 Country: Brazil Meeting Type: Annual Ticker: BRKM5
Primary ISIN: BRBRKMACNPA4 Primary SEDOL: B0774N4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Director Nominated by Preferred SH None Abstain Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
2 Elect Fiscal Council Member Nominated by SH None Abstain Preferred Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
BRF SA
Meeting Date: 04/07/2016 Country: Brazil Meeting Type: Annual Ticker: BRFS3
Primary ISIN: BRBRFSACNOR8 Primary SEDOL: 2036995
Page 38 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
BRF SA
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, 2015
2 Ratify Distribution of Dividends and Mgmt For For Interest-on-Capital-Stock Payments
3 Elect Directors and Vice-Chairman of the Board Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
4 Elect Fiscal Council Members Mgmt For For
BRF SA
Meeting Date: 04/07/2016 Country: Brazil Meeting Type: Special Ticker: BRFS3
Primary ISIN: BRBRFSACNOR8 Primary SEDOL: 2036995
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 5 to Reflect Changes in Capital Mgmt For For
2 Amend Articles and Consolidate Bylaws Mgmt For Against
Voter Rationale:
Changes in company's articles or by-laws should not erode shareholder rights.
3 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members for Fiscal Year 2016 and Re-Ratify Remuneration for Fiscal Year 2015
4 Designate Newspapers to Publish Company Mgmt For For Announcements
BRF SA
Meeting Date: 04/07/2016 Country: Brazil Meeting Type: Annual/Special Ticker: BRFS3
Primary ISIN: BRBRFSACNOR8 Primary SEDOL: 2036995
Page 39 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
BRF SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Special Meeting Mgmt
1.1 Amend Article 5 to Reflect Changes in Capital Mgmt For For
1.2 Amend Articles and Consolidate Bylaws Mgmt For Against
Voter Rationale:
Changes in company's articles or by-laws should not erode shareholder rights.
1.3 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members for Fiscal Year 2016 and Re-Ratify Remuneration for Fiscal Year 2015
1.4 Designate Newspapers to Publish Company Mgmt For For Announcements
Annual Meeting Mgmt
2.1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015
2.2 Ratify Distribution of Dividends and Mgmt For For Interest-on-Capital-Stock Payments
2.3 Elect Directors and Vice-Chairman of the Board Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
2.4 Elect Fiscal Council Members Mgmt For For
Brilliance China Automotive Holdings Ltd.
Meeting Date: 06/03/2016 Country: Bermuda Meeting Type: Annual Ticker: 1114
Primary ISIN: BMG1368B1028 Primary SEDOL: 6181482
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2A Elect Wang Shiping as Director Mgmt For For
2B Elect Lei Xiaoyang as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 40 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Brilliance China Automotive Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2C Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Grant Thornton Hong Kong Limited as Mgmt For For Auditors and 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.
British American Tobacco (Malaysia) Berhad
Meeting Date: 04/25/2016 Country: Malaysia Meeting Type: Annual Ticker: BAT
Primary ISIN: MYL4162OO003 Primary SEDOL: 6752349
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Stefano Clini as Director Mgmt For For
2 Elect Chan Choon Ngai as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
3 Elect Oh Chong Peng as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Furthermore, 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. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
Page 41 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
British American Tobacco (Malaysia) Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Oh Chong Peng to Continue Office as Mgmt For Against Independent Non-Executive Director Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Furthermore, 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. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Approve Implementation of Shareholders' Mgmt For For Mandate for Recurrent Related Party Transactions
Catcher Technology Co., Ltd.
Meeting Date: 05/19/2016 Country: Taiwan Meeting Type: Annual Ticker: 2474
Primary ISIN: TW0002474004 Primary SEDOL: 6186669
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of Ordinary Shares or Mgmt For For Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt or Issuance of Marketable Securities via Private Placement
ELECT NON-INDEPENDENT AND INDEPENDENT Mgmt DIRECTORS VIA CUMULATIVE VOTING
5.1 Elect Lih-Chyun Shu with ID No.C120732XXX as Mgmt For For Independent Director
5.2 Elect Mon-Huan Lei with ID No.E121040XXX as Mgmt For For Independent Director
5.3 Elect Wen-Chieh Huang with Shareholder Mgmt For For No.00026941 as Independent Director
5.4 Elect Non-Independent Director No.1 SH None Against
5.5 Elect Non-Independent Director No.2 SH None Against
5.6 Elect Non-Independent Director No.3 SH None Against
5.7 Elect Non-Independent Director No.4 SH None Against
Page 42 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Catcher Technology Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives
Cathay Financial Holding Co., Ltd.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 2882
Primary ISIN: TW0002882008 Primary SEDOL: 6425663
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Planning for Raising of Long-term Mgmt For For Capital
ELECT NON-INDEPENDENT AND INDEPENDENT Mgmt DIRECTORS VIA CUMULATIVE VOTING
5.1 Elect Cheng-Ta Tsai, Representative of Cathay Mgmt For Against Medical Care Corporate with Shareholder No. 572848, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.2 Elect Hong-Tu Tsai with Shareholder No. 1372 Mgmt For Against as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.3 Elect Cheng-Chiu Tsai, Representative of Mgmt For Against Chen-Sheng Industrial Co., Ltd., with Shareholder No. 552922, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Peter V. Kwok, Representative of Chia Yi Mgmt For Against Capital Co., Ltd., with Shareholder No. 572870, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 43 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cathay Financial Holding Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Yeou-Tsair Tsai, Representative of Chia Yi Mgmt For Against Capital Co., Ltd., with Shareholder No. 572870. as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Chi-Wei Joong, Representative of Chia Yi Mgmt For Against Capital Co., Ltd., with Shareholder No. 572870. as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Tsu-Pei Chen, Representative of Cathay Mgmt For Against Medical Care Corporate, with Shareholder No. 572848, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.8 Elect Tiao-Kuei Huang, Representative of Cathay Mgmt For Against Life Insurance Co., Ltd. Employees' Welfare Committee with Shareholder No. 1237, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.9 Elect Chang-Ken Lee, Representative of Cathay Mgmt For Against Life Insurance Co., Ltd. Employees' Welfare Committee with Shareholder No. 1237, as Non-independent Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.10 Elect Ming- Ho Hsiung, Representative of Mgmt For Against Cathay Life Insurance Co., Ltd. Employees'Welfare Committee with Shareholder No. 1237, as Non-independent Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.11 Elect Min-Houng Hong with ID No. A101531XXX Mgmt For For as Independent Director
5.12 Elect Matthew Miau with ID No. A131723XXX as Mgmt For For Independent Director
5.13 Elect Tsing-Yuan Hwang an with ID No. Mgmt For For R101807XXX as Independent Director
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
Page 44 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CEBU Air Inc.
Meeting Date: 05/20/2016 Country: Philippines Meeting Type: Annual Ticker: CEB
Primary ISIN: PHY1234G1032 Primary SEDOL: B2NRDY6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve the Minutes of the Annual Meeting of Mgmt For For Stockholders Held on June 26, 2015
3 Approve the Annual Report and Financial Mgmt For For Statements for the Preceding Year
Elect 9 Directors by Cumulative Voting Mgmt
4.1 Elect Ricardo J. Romulo as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect John L. Gokongwei, Jr. as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Additionally, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.3 Elect James L. Go as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Additionally, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.4 Elect Lance Y. Gokongwei as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.5 Elect Jose F. Buenaventura as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 45 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CEBU Air Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.6 Elect Robina Y. Gokongwei-Pe as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect Frederick D. Go as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, 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. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.8 Elect Antonio L. Go as Director Mgmt For For
4.9 Elect Wee Khoon Oh as Director Mgmt For For
5 Elect External Auditor Mgmt For For
6 Ratify All Acts of the Board of Directors, Mgmt For For Executive Committee, Other Board Commitees, Officers, and Management Since the Last Annual Meeting
7 Approve Other Matters Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Cemex Latam Holdings SA
Meeting Date: 06/20/2016 Country: Spain Meeting Type: Annual Ticker: CLH
Primary ISIN: EST01PA00013 Primary SEDOL: B88KB04
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
2 Approve Allocation of Income Mgmt For For
3 Approve Discharge of Board Mgmt For For
4 Renew Appointment of KPMG Auditores as Mgmt For For Auditor
5.1 Reelect Jaime Muguiro Domínguez 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.
Page 46 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cemex Latam Holdings SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.2 Reelect Jaime Gerardo Elizondo Chapa as Mgmt For For Director
5.3 Reelect Juan Pablo San Agustín Rubio as Mgmt For For Director
5.4 Reelect Juan Pelegrí y Girón as Director Mgmt For For
5.5 Reelect Coloma Armero Montes as Director Mgmt For For
5.6 Reelect Gabriel Jaramillo Sanint as Director Mgmt For For
5.7 Reelect Rafael Santos Calderon as Director Mgmt For For
5.8 Elect Carmen Burgos Casas as Director Mgmt For For
5.9 Elect José Luis Orti Garcia as Director Mgmt For For
6 Advisory Vote on Remuneration Report Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a suffciently long period of time.
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
8 Approve Minutes of Meeting Mgmt For For
Central Pattana PCL
Meeting Date: 04/21/2016 Country: Thailand Meeting Type: Annual Ticker: CPN
Primary ISIN: TH0481B10Z00 Primary SEDOL: B6SR7L4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge Minutes of Previous Meeting Mgmt
2 Acknowledge Performance Results of 2015 Mgmt
3 Accept Financial Statements Mgmt For For
4 Approve Dividend Payment Mgmt For For
5.1 Elect Suthichart Chirathivat as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
5.2 Elect Sudhisak Chirathivat as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
Page 47 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Central Pattana PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.3 Elect Kobchai Chirathivat as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
5.4 Elect Veravat Chutichetpong as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve KPMG Poomchai Audit Limited as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
8 Authorize Issuance of Debentures Mgmt For For
9 Authorize Issuance of Short-term Debentures Mgmt For For and/or Bill of Exchange
10 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
CESP, Companhia Energetica de Sao Paulo S.A.
Meeting Date: 04/26/2016 Country: Brazil Meeting Type: Annual Ticker: CESP6
Primary ISIN: BRCESPACNPB4 Primary SEDOL: B17MHG0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Fiscal Council Member(s) Nominated by SH None Abstain Preferred Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
CETIP S.A. - Mercados Organizados
Meeting Date: 04/19/2016 Country: Brazil Meeting Type: Annual Ticker: CTIP3
Primary ISIN: BRCTIPACNOR2 Primary SEDOL: B55DVB6
Page 48 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CETIP S.A. - Mercados Organizados
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, 2015
2 Approve Allocation of Income Mgmt For For
3 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
4 Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
CETIP S.A. - Mercados Organizados
Meeting Date: 05/20/2016 Country: Brazil Meeting Type: Special Ticker: CTIP3
Primary ISIN: BRCTIPACNOR2 Primary SEDOL: B55DVB6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Waive Mandatory Offer Requirement Mgmt For Against
Voter Rationale:
A concert party should not be able to gain or increase its control of the company without paying an appropriate premium.
2 Approve Merger Agreement between the Mgmt For For Company and BM&FBovespa S.A.
3 Approve Merger of the Company with Mgmt For For BM&FBovespa S.A.
4 Authorize Board to Subscribe to New Shares in Mgmt For For Connection with the Transaction, and Ratify and Execute Approved Resolutions
5 Approve, In Case the Company Does Not Obtain Mgmt For For Waivers by Debenture Holders, the Redemption of the Debentures Owned By These Holders
Page 49 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Chailease Holding Company Limited
Meeting Date: 05/27/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 5871
Primary ISIN: KYG202881093 Primary SEDOL: B58J1S8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Profit Distribution Mgmt For For
4 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
5 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
Chemical WKS of Richter Gedeon Plc
Meeting Date: 04/26/2016 Country: Hungary Meeting Type: Annual Ticker: RICHTER
Primary ISIN: HU0000123096 Primary SEDOL: BC9ZH86
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Management Proposals Mgmt
1 Approve Use of Electronic Vote Collection Mgmt For For Method
2 Authorize Company to Produce Sound Recording Mgmt For For of Meeting Proceedings
3 Elect Chairman and Other Meeting Officials Mgmt For For
4 Approve Consolidated Financial Statements and Mgmt For For Statutory Reports
5 Approve Management Board Report on Mgmt For For Company's Operations
6 Approve Allocation of Income and Dividends of Mgmt For For HUF 72 per Share
7 Approve Allocation of HUF 48.01 Billion to Mgmt For For Reserves
8 Accept Financial Statements and Statutory Mgmt For For Reports
Page 50 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Chemical WKS of Richter Gedeon Plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve Company's Corporate Governance Mgmt For For Statement
10 Amend Bylaws Mgmt For For
11 Amend Art. 17.1 of Bylaws Re: Auditor's Term of Mgmt For For Mandate
12 Approve Issuance of Shares with or without Mgmt For Against 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.
13 Receive Information on the Acquisition of Own Mgmt For For Shares
14 Authorize Share Repurchase Program Mgmt For For
15 Reelect Gabor Gulacsy as Management Board Mgmt For For Member
16 Reelect Csaba Lantos as Management Board Mgmt For For Member
17 Reelect Christopher William Long as Mgmt For For Management Board Member
18 Reelect Norbert Szivek as Management Board Mgmt For For Member
19 Approve Remuneration of Management Board Mgmt For For Members
Shareholder Proposal Mgmt
20 Approve Annual Additional Remuneration of SH For For Chairman and Members of Management Board for Their Service in Fiscal Year 2015 Voter Rationale: The amounts proposed are not excessive.
Management Proposals Mgmt
21 Approve Remuneration of Supervisory Board Mgmt For For Members
22 Renew Appointment of PWC as Auditor Mgmt For For
23 Approve Remuneration Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Cheng Shin Rubber Industry Co. Ltd.
Meeting Date: 06/15/2016 Country: Taiwan Meeting Type: Annual Ticker: 2105
Primary ISIN: TW0002105004 Primary SEDOL: 6190228
Page 51 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cheng Shin Rubber Industry Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
Chicony Electronics Co., Ltd.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 2385
Primary ISIN: TW0002385002 Primary SEDOL: 6140579
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report, Financial Mgmt For For Statements and Consolidated Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Trading Procedures Governing Mgmt For For Derivatives Products
6 Amend Procedures for Lending Funds to Other Mgmt For For Parties
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
7.1 Elect Hsu, Kun-Tai with Shareholder No. 1, as Mgmt For Against Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.2 Elect Lin, Mao-Kuei with Shareholder No. 36, as Mgmt For Against Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 52 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Chicony Electronics Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.3 Elect Lu, Chin-Chung with Shareholder No. 112, Mgmt For Against as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.4 Elect Wei, Chuan-Pin with Shareholder No. Mgmt For Against 12329, as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.5 Elect Liu, Song-Pin with Shareholder No. 28826, Mgmt For Against as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.6 Elect Tsai, Ming-Hsien with Shareholder No. Mgmt For Against 702, as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.7 Elect Liu, Jia-Sheng with Shareholder No. 12, as Mgmt For Against Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.8 Elect Lee, Yen-Sung, with ID No. H102119XXX, Mgmt For For as Independent Director
7.9 Elect Lin, Ming-Ji with Shareholder No. 84531 as Mgmt For For Independent Director
7.10 Elect Huang, Chin-Shun with Shareholder No. Mgmt For For 39, as Supervisor
7.11 Elect Hung Cheng-Chich with ID No. Mgmt For For D100584XXX, as Supervisor
7.12 Elect Chang, Su-Tine a Representative of DONG Mgmt For For LING INVESTMENT CO LTD, with Shareholder No. 8456, as Supervisor
8 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
9 Transact Other Business (Non-Voting) Mgmt
China Communications Services Corp. Ltd.
Meeting Date: 06/24/2016 Country: China Meeting Type: Annual Ticker: 552
Primary ISIN: CNE1000002G3 Primary SEDOL: B1HVJ16
Page 53 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Communications Services Corp. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve 2015 Profit Distribution Plan and Mgmt For For Payment of Final Dividend
3 Appoint Deloitte Touche Tohmatsu and Deloitte Mgmt For For Touche Tohmatsu Certified Public Accountants LLP as International and Domestic Auditors, Respectively, and Authorize Board to Fix Their Remuneration
4 Elect Liu Linfei as Director, Approve His Service Mgmt For For Contract and Authorize Board to Fix His Remuneration
5.1 Approve Issuance of Debentures Mgmt For Against
Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.2 Authorize Any Two of Three Directors Duly Mgmt For Against Authorized by the Board to Deal With All Matters in Relation to Issuance of Debentures Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.3 Approve Validity Period of the General Mandate Mgmt For Against to Issue Debentures Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 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.
7 Authorize Board to Increase Registered Capital Mgmt For Against of the Company and Amend Articles of Association to Reflect Such Increase 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.
China Conch Venture Holdings Ltd
Meeting Date: 06/21/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 586
Primary ISIN: KYG2116J1085 Primary SEDOL: BH7HM06
Page 54 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Conch Venture Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports (Voting)
2 Approve Dividends Mgmt For For
3a Elect Li Jian as Director Mgmt For For
3b Elect Li Daming as Director Mgmt For For
3c Elect Chan Kai Wing as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
8 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.
China Construction Bank Corporation
Meeting Date: 06/17/2016 Country: China Meeting Type: Annual Ticker: 00939
Primary ISIN: CNE1000002H1 Primary SEDOL: B0LMTQ3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Board of Mgmt For For Supervisors
3 Approve 2015 Final Financial Accounts Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve Budget of 2016 Fixed Assets Mgmt For For Investment
Page 55 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Construction Bank Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Remuneration Distribution and Mgmt For For Settlement Plan for Directors in 2014
7 Approve Remuneration Distribution and Mgmt For For Settlement Plan for Supervisors in 2014
8 Elect Zhang Long as Director Mgmt For For
9 Elect Chung Shui Ming Timpson as Director Mgmt For Against
10 Elect Wim Kok as Director Mgmt For For
11 Elect Murray Horn as Director Mgmt For For
12 Elect Liu Jin as Supervisor Mgmt For For
13 Elect Li Xiaoling as Supervisor Mgmt For For
14 Elect Bai Jianjun as Supervisor Mgmt For For
15 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as Domestic Accounting Firm and PricewaterhouseCoopers as International Accounting Firm and Fix Their Remuneration
16 Amend Impact of Diluted Immediate Return Mgmt For For from Preference Share Issuance and Measures to Make Up the Return
17 Elect Guo Yanpeng as Director SH None For
China Everbright Bank Co., Ltd.
Meeting Date: 06/29/2016 Country: China Meeting Type: Annual Ticker: 601818
Primary ISIN: CNE100000SL4 Primary SEDOL: B53SCQ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
SPECIAL RESOLUTION Mgmt
1 Approve Re-grant of Specific Mandate to Board Mgmt For For to Handle Matters Related to Domestic Non-Public Preference Shares Issuance Including Issuance of Domestic Preference Shares to Everbright Group
2.1 Approve Type of Securities to be Issued Relating SH For For to the Issuance of Convertible Bonds
2.2 Approve Issue Size Relating to the Issuance of SH For For Convertible Bonds
Page 56 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.3 Approve Par Value and Issue Price Relating to SH For For the Issuance of Convertible Bonds
2.4 Approve Term of Bond Relating to the Issuance SH For For of Convertible Bonds
2.5 Approve Interest Rate Relating to the Issuance SH For For of Convertible Bonds
2.6 Approve Method and Timing of Interest SH For For Payment Relating to the Issuance of Convertible Bonds
2.7 Approve Conversion Period Relating to the SH For For Issuance of Convertible Bonds
2.8 Approve Determination and Adjustment of the SH For For CB Conversion Price Relating to the Issuance of Convertible Bonds
2.9 Approve Downward Adjustment to the CB SH For For Conversion Price Relating to the Issuance of Convertible Bonds
2.10 Approve Method for Determining the Number of SH For For Shares for Conversion Relating to the Issuance of Convertible Bonds
2.11 Approve Dividend Rights of the Year of SH For For Conversion Relating to the Issuance of Convertible Bonds
2.12 Approve Terms of Redemption Relating to the SH For For Issuance of Convertible Bonds
2.13 Approve Terms of Sale Back Relating to the SH For For Issuance of Convertible Bonds
2.14 Approve Method of Issuance and Target SH For For Investors Relating to the Issuance of Convertible Bonds
2.15 Approve Subscription Arrangement for the SH For For Existing Shareholders Relating to the Issuance of Convertible Bonds
2.16 Approve CB Holders and Meetings Relating to SH For For the Issuance of Convertible Bonds
2.17 Approve Use of Proceeds Relating to the SH For For Issuance of Convertible Bonds
2.18 Approve Guarantee and Securities Relating to SH For For the Issuance of Convertible Bonds
2.19 Approve Validity Period of the Resolution SH For For Relating to the Issuance of Convertible Bonds
2.20 Approve Matters Relating to Authorization in SH For For Respect to the Issuance of Convertible Bonds
ORDINARY RESOLUTIONS Mgmt
1 Approve 2015 Work Report of the Board of Mgmt For For Directors
Page 57 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2015 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2016 Budget Plan of Fixed Asset Mgmt For For Investment
4 Approve 2015 Audited Accounts Report Mgmt For For
5 Approve 2015 Profit Distribution Plan Mgmt For For
6 Approve Remuneration of Directors for the Year Mgmt For For 2015
7 Approve Remuneration of Supervisors for the Mgmt For For Year 2015
8 Approve Provision of Guarantee for Jiangsu Mgmt For Against Huai'an Everbright Village Bank Co., Ltd. Voter Rationale: A vote AGAINST this resolution is warranted since the company will be taking in a disproportionate amount of risk relative to its ownership stake without compelling justification.
9 Amend Plan of Authorization by Shareholders' Mgmt For For General Meeting to Board of Directors
10.1 Elect Tang Shuangning as Director Mgmt For For
10.2 Elect Gao Yunlong as Director Mgmt For For
10.3 Elect Liu Jun as Director Mgmt For For
10.4 Elect Zhang Shude as Director Mgmt For For
10.5 Elect Wu Gang as Director Mgmt For For
10.6 Elect Li Huaqiang as Director Mgmt For For
10.7 Elect Zhao Wei as Director Mgmt For For
10.8 Elect Yang Jigui as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
10.9 Elect Zhang Jinliang as Director Mgmt For For
10.10 Elect Ma Teng as Director Mgmt For For
10.11 Elect Li Jie as Director Mgmt For For
10.12 Elect Qiao Zhimin as Director Mgmt For For
10.13 Elect Xie Rong as Director Mgmt For For
10.14 Elect Fok Oi Ling Catherine as Director Mgmt For For
10.15 Elect Xu Hongcai as Director Mgmt For For
10.16 Elect Feng Lun as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
11.1 Elect Li Xin as Supervisor Mgmt For For
Page 58 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.2 Elect Yi Lianchen as Supervisor Mgmt For For
11.3 Elect Wu Junhao as Supervisor Mgmt For For
11.4 Elect Yu Erniu as Supervisor Mgmt For For
11.5 Elect Wu Gaolian as Supervisor Mgmt For For
11.6 Elect Deng Ruilin as Supervisor Mgmt For For
12 Approve Feasibility Analysis Report SH For For
13 Approve Utilization Report of Funds Raised SH For For
14 Approve Dilution of Current Return and SH For For Remedial Measures for the Issuance of theConvertible Bonds by Company
China Everbright Bank Co., Ltd.
Meeting Date: 06/29/2016 Country: China Meeting Type: Special Ticker: 601818
Primary ISIN: CNE100000SL4 Primary SEDOL: B53SCQ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Approve Re-grant of Specific Mandate to Board Mgmt For For to Handle Matters Related to Domestic Non-Public Preference Shares Issuance Including Issuance of Domestic Preference Shares to Everbright Group
2.1 Approve Type of Securities to be Issued Relating SH For For to the Issuance of Convertible Bonds
2.2 Approve Issue Size Relating to the Issuance of SH For For Convertible Bonds
2.3 Approve Par Value and Issue Price Relating to SH For For the Issuance of Convertible Bonds
2.4 Approve Term of Bond Relating to the Issuance SH For For of Convertible Bonds
2.5 Approve Interest Rate Relating to the Issuance SH For For of Convertible Bonds
2.6 Approve Method and Timing of Interest SH For For Payment Relating to the Issuance of Convertible Bonds
2.7 Approve Conversion Period Relating to the SH For For Issuance of Convertible Bonds
Page 59 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.8 Approve Determination and Adjustment of the SH For For CB Conversion Price Relating to the Issuance of Convertible Bonds
2.9 Approve Downward Adjustment to the CB SH For For Conversion Price Relating to the Issuance of Convertible Bonds
2.10 Approve Method for Determining the Number of SH For For Shares for Conversion Relating to the Issuance of Convertible Bonds
2.11 Approve Dividend Rights of the Year of SH For For Conversion Relating to the Issuance of Convertible Bonds
2.12 Approve Terms of Redemption Relating to the SH For For Issuance of Convertible Bonds
2.13 Approve Terms of Sale Back Relating to the SH For For Issuance of Convertible Bonds
2.14 Approve Method of Issuance and Target SH For For Investors Relating to the Issuance of Convertible Bonds
2.15 Approve Subscription Arrangement for the SH For For Existing Shareholders Relating to the Issuance of Convertible Bonds
2.16 Approve CB Holders and Meetings Relating to SH For For the Issuance of Convertible Bonds
2.17 Approve Use of Proceeds Relating to the SH For For Issuance of Convertible Bonds
2.18 Approve Guarantee and Securities Relating to SH For For the Issuance of Convertible Bonds
2.19 Approve Validity Period of the Resolution SH For For Relating to the Issuance of Convertible Bonds
2.20 Approve Matters Relating to Authorization in SH For For Respect to the Issuance of Convertible Bonds
China Everbright International Ltd.
Meeting Date: 05/17/2016 Country: Hong Kong Meeting Type: Annual Ticker: 257
Primary ISIN: HK0257001336 Primary SEDOL: 6630940
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
Page 60 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright International Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Final Dividend Mgmt For For
3a Elect Chen Xiaoping as Director Mgmt For For
3b Elect Fan Yan Hok, Philip as Director Mgmt For Against
Voter Rationale: Long tenure on a board can lead to a sense of identification with the company and the interests of its management team which can damage a director's independence, even in the absence of a formal transactional or professional relationship between the director and the company.
3c Elect Mar Selwyn as Director Mgmt For For
3d Elect Li Kwok Sing, Aubrey as Director Mgmt For Against
Voter Rationale: We do not consider this director to be independent. Given that the proportion of independent representation on the board does not meet our expectations or this market's good practices, we do not support the re-election.
3e Authorize Board to Fix the Remuneration of the Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5.1 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
5.2 Authorize Repurchase of Issued Share Capital Mgmt For For
5.3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: We vote against as the aggregate share issuance limit is greater than 10 percent and the company has not specified the discount limit
China Everbright Limited
Meeting Date: 05/18/2016 Country: Hong Kong Meeting Type: Annual Ticker: 165
Primary ISIN: HK0165000859 Primary SEDOL: 6455143
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Tang Shuangning as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
Page 61 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Everbright Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3b Elect Tang Chi Chun, Richard as Director Mgmt For For
3c Elect Chung Shui Ming, Timpson as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3d Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
China Lesso Group Holdings Limited
Meeting Date: 05/13/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2128
Primary ISIN: KYG2157Q1029 Primary SEDOL: BCDBKF8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Wong Luen Hei as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3b Elect Kong Zhaocong as Director Mgmt For For
3c Elect Lin Shaoquan as Director Mgmt For For
3d Elect Fung Pui Cheung as Director Mgmt For For
3e Elect Wong Kwok Ho Jonathan as Director Mgmt For For
3f Elect Tao Zhigang as Director Mgmt For For
Page 62 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Lesso Group Holdings Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3g Authorize Board to Fix the Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditor and Authorize Mgmt For For Board to Fix Their Remuneration
5a 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.
5b Authorize Repurchase of Issued Share Capital Mgmt For For
5c 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.
China Life Insurance Co. Limited
Meeting Date: 05/30/2016 Country: China Meeting Type: Annual Ticker: 2628
Primary ISIN: CNE1000002L3 Primary SEDOL: 6718976
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Financial Report Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve Remuneration of Directors and Mgmt For For Supervisors
6 Elect Leung Oi-Sie Elsie as Director Mgmt For For
7 Approve Remuneration of Auditors Mgmt For For
8 Approve Ernst & Young Hua Ming LLP as PRC Mgmt For For Auditor and Ernst & Young as International Auditor
9 Approve Continued Donations to China Life Mgmt For For Foundation
10 Approve Amendments to the Rules of Mgmt For For Procedures for the Board of Directors
Page 63 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Life Insurance Co. Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 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.
China Medical System Holdings Ltd.
Meeting Date: 04/22/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 867
Primary ISIN: KYG211081248 Primary SEDOL: B6WY993
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Lam Kong as Director Mgmt For For
3b Elect Chen Hongbing as Director Mgmt For For
3c Elect Wu Chi Keung as Director Mgmt For For
3d Elect Huang Ming as Director Mgmt For For
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
Page 64 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Mengniu Dairy Co., Ltd.
Meeting Date: 06/03/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2319
Primary ISIN: KYG210961051 Primary SEDOL: B01B1L9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A Elect Niu Gensheng as Director and Authorize Mgmt For Against Board to Fix His Remuneration
3B Elect Liu Ding as Director and Authorize Board Mgmt For Against to Fix Her Remuneration
3C Elect Wu Kwok Keung Andrew as Director and Mgmt For For Authorize Board to Fix His Remuneration
3D Elect Ma Jianping as Director and Authorize Mgmt For For Board to Fix His Remuneration
3E Elect Tim Ørting Jørgensen as Director and Mgmt For For Authorize Board to Fix His Remuneration
3F Elect Filip Kegels as Director and Authorize Mgmt For For Board to Fix His Remuneration
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
7 Adopt New Share Option Scheme Mgmt For Against
China Merchants Bank Co Ltd
Meeting Date: 06/28/2016 Country: China Meeting Type: Annual Ticker: 600036
Primary ISIN: CNE000001B33 Primary SEDOL: 6518723
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Work Report of the Board of Mgmt For For Directors
Page 65 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Merchants Bank Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2015 Report of the Board of Mgmt For For Supervisors
3 Approve 2015 Annual Report Mgmt For For
4 Approve 2015 Audited Financial Statements Mgmt For For
5 Approve 2015 Profit Appropriation Plan and Mgmt For For Distribution of Final Dividend
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP (Special General Partnership) as Domestic Accounting Firm and Deloitte Touche Tohmatsu CertifiedPublic Accountants as International Accounting Firm and Fix Their Remuneration
Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
7 Approve 2015 Assessment Report on the Duty Mgmt For For Performance of Directors
8 Approve 2015 Assessment Report on the Duty Mgmt For For Performance of Supervisors
9 Approve 2015 Assessment Report on the Duty Mgmt For For Performance and Cross-evaluation of Independent Directors
10 Approve 2015 Assessment Report on the Duty Mgmt For For Performance and Cross-evaluation of External Supervisors
11 Approve 2015 Related Party Transaction Report Mgmt For For
12 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.
13.01 Elect Li Jianhong as Director Mgmt For For
13.02 Elect Xu Lirong as Director Mgmt For For
13.03 Elect Li Xiaopeng as Director Mgmt For For
13.04 Elect Sun Yueying as Director Mgmt For Against
Voter Rationale:
CHECK Tenure and IndependenceThe audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
13.05 Elect Fu Gangfeng as Director Mgmt For Against
Voter Rationale:
The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
13.06 Elect Hong Xiaoyuan as Director Mgmt For For
13.07 Elect Su Min as Director Mgmt For For
13.08 Elect Zhang Jian as Director Mgmt For For
Page 66 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Merchants Bank Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13.09 Elect Wang Daxiong as Director Mgmt For For
13.10 Elect Zhang Feng as Director Mgmt For For
13.11 Elect Tian Huiyu as Director Mgmt For For
13.12 Elect Li Hao as Director Mgmt For For
13.13 Elect Leung Kam Chung, Antony as Director Mgmt For For
13.14 Elect Wong Kwai Lam as Director Mgmt For For
13.15 Elect Pan Chengwei as Director Mgmt For For
13.16 Elect Pan Yingli as Director Mgmt For For
13.17 Elect Zhao Jun as Director Mgmt For For
13.18 Elect Wong See Hong as Director Mgmt For For
14.01 Elect Fu Junyuan as Supervisor Mgmt For For
14.02 Elect Wu Heng as Supervisor Mgmt For For
14.03 Elect Wen Jianguo as Supervisor Mgmt For For
14.04 Elect Jin Qingjun as Supervisor Mgmt For For
14.05 Elect Ding Huiping as Supervisor Mgmt For For
14.06 Elect Han Zirong as Supervisor Mgmt For For
15 Amend Articles of Association Mgmt For For
China Minsheng Banking Corp., Ltd.
Meeting Date: 06/07/2016 Country: China Meeting Type: Annual Ticker: 600016
Primary ISIN: CNE0000015Y0 Primary SEDOL: 6310747
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
ORDINARY RESOLUTIONS Mgmt
1 Approve 2015 Annual Report Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Final Financial Report Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
Page 67 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Minsheng Banking Corp., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve 2015 Profit Distribution Plan Mgmt For For
4 Approve 2016 Interim Profit Distribution Plan Mgmt For For
5 Approve 2016 Annual Budgets Mgmt For For
6 Approve 2015 Work Report of the Board of Mgmt For For Directors Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
7 Approve 2015 Work Report of the Supervisory Mgmt For For Board Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
8 Approve KPMG Huazhen Certified Public Mgmt For Against Accountants (Special General Partnership) and KPMG Certified Public Accountants as Auditors and Authorize Board to Fix Their Remuneration
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
SPECIAL RESOLUTION Mgmt
1 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.
China Mobile Limited
Meeting Date: 05/26/2016 Country: Hong Kong Meeting Type: Annual Ticker: 941
Primary ISIN: HK0941009539 Primary SEDOL: 6073556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Shang Bing as Director Mgmt For For
3.2 Elect Li Yue as Director Mgmt For For
3.3 Elect Sha Yuejia as Director Mgmt For For
3.4 Elect Liu Aili as Director Mgmt For For
Page 68 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Mobile Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve PricewaterhouseCoopers and Mgmt For For PricewaterhouseCoopers Zhong Tian LLP as Auditors for Hong Kong Financial Reporting and U.S. Financial Reporting Purposes, Respectively and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
China Mobile Limited
Meeting Date: 05/26/2016 Country: Hong Kong Meeting Type: Annual Ticker: 941
Primary ISIN: HK0941009539 Primary SEDOL: 6073556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Shang Bing as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3.2 Elect Li Yue as Director Mgmt For For
3.3 Elect Sha Yuejia as Director Mgmt For For
3.4 Elect Liu Aili as Director Mgmt For For
4 Approve PricewaterhouseCoopers and Mgmt For For PricewaterhouseCoopers Zhong Tian LLP as Auditors for Hong Kong Financial Reporting and U.S. Financial Reporting Purposes, Respectively and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
Page 69 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Mobile Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 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.
7 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.
China Oilfield Services Ltd.
Meeting Date: 05/31/2016 Country: China Meeting Type: Annual Ticker: 2883
Primary ISIN: CNE1000002P4 Primary SEDOL: 6560995
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Audited Financial Statements and Mgmt For For Auditor's Report Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Profit Distribution and Annual Mgmt For For Dividend
3 Approve 2015 Report of the Board of Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2015 Report of the Supervisory Mgmt For For Committee Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
5 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as Domestic Auditor and Deloitte Touche Tohmatsu as International Auditor and Authorize Board to Fix Their Remuneration
6 Approve Provision of Guarantees for Relevant Mgmt For For Subsidiaries
7 Elect Wong Kwai Huen, Albert as Director SH For For
8 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.
Page 70 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Oilfield Services Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Authorize Repurchase of Issued A Share and H Mgmt For For Share Capital
10 Amend Articles of Association Mgmt For For
China Oilfield Services Ltd.
Meeting Date: 05/31/2016 Country: China Meeting Type: Special Ticker: 2883
Primary ISIN: CNE1000002P4 Primary SEDOL: 6560995
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued A Share and H Mgmt For For Share Capital
China Petroleum & Chemical Corp.
Meeting Date: 05/18/2016 Country: China Meeting Type: Annual Ticker: 386
Primary ISIN: CNE1000002Q2 Primary SEDOL: 6291819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Board of Supervisors Mgmt For For
3 Approve Audited Financial Reports and Audited Mgmt For For Consolidated Financial Reports
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as Domestic and Overseas Auditors and Authorize Board to Fix Their Remuneration
6 Authorize Board to Determine the 2016 Interim Mgmt For For Profit Distribution
Page 71 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Petroleum & Chemical Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Board to Determine the Proposed Plan Mgmt For Against for the Issuance of Debt Financing Instruments
Voter Rationale: A vote AGAINST this resolution is warranted given the lack of disclosed information relating to the terms and use of proceeds of the issue of debt financing instruments.
8 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.
China Petroleum & Chemical Corp.
Meeting Date: 05/18/2016 Country: China Meeting Type: Annual Ticker: 386
Primary ISIN: CNE1000002Q2 Primary SEDOL: 6291819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Board of Supervisors Mgmt For For
3 Approve Audited Financial Reports and Audited Mgmt For For Consolidated Financial Reports
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as Domestic and Overseas Auditors and Authorize Board to Fix Their Remuneration
6 Authorize Board to Determine the 2016 Interim Mgmt For For Profit Distribution
7 Authorize Board to Determine the Proposed Plan Mgmt For Against for the Issuance of Debt Financing Instruments
Voter Rationale: A vote AGAINST this resolution is warranted given the lack of disclosed information relating to the terms and use of proceeds of the issue of debt financing instruments.
8 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.
Page 72 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Power International Development Ltd.
Meeting Date: 06/07/2016 Country: Hong Kong Meeting Type: Annual Ticker: 2380
Primary ISIN: HK2380027329 Primary SEDOL: B02ZKQ8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Wang Binghua as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
4 Elect Li Fang as Director Mgmt For For
5 Elect Tsui Yiu Wa, Alec as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
6 Authorize Board to Fix Remuneration of Mgmt For For Directors
7 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
8A 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.
8B Authorize Repurchase of Issued Share Capital Mgmt For For
8C 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.
China Power International Development Ltd.
Meeting Date: 06/07/2016 Country: Hong Kong Meeting Type: Special Ticker: 2380
Primary ISIN: HK2380027329 Primary SEDOL: B02ZKQ8
Page 73 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Power International Development Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Services Framework Mgmt For Against Agreement, Annual Caps and Related Transactions Voter Rationale:
In the absence of compelling economic rationale such pooling of the group's cash through an unlisted financial vehicle may give the parent company control over the listed company's finances.
China Resources Power Holdings Co., Ltd.
Meeting Date: 06/06/2016 Country: Hong Kong Meeting Type: Annual Ticker: 836
Primary ISIN: HK0836012952 Primary SEDOL: 6711566
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Zhang Shen Wen as Director Mgmt For For
3.2 Elect Wang Xiao Bin as Director Mgmt For For
3.3 Elect Leung Oi-sie, Elsie as Director Mgmt For For
3.4 Elect Ch'ien K.F., Raymond as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3.5 Elect Ge Changxin as Director Mgmt For For
3.6 Elect Hu Min as Director Mgmt For For
3.7 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
Page 74 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Resources Power Holdings Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 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.
China Shenhua Energy Co., Ltd.
Meeting Date: 06/17/2016 Country: China Meeting Type: Annual Ticker: 01088
Primary ISIN: CNE1000002R0 Primary SEDOL: B09N7M0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Board Mgmt For For
3 Approve 2015 Audited Financial Statements Mgmt For For
4 Approve 2015 Profit Distribution Plan and Final Mgmt For For Dividend
5 Approve 2015 Remuneration of Directors and Mgmt For For Supervisors
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as PRC Auditor and Deloitte Touche Tohmatsu as International Auditor and Authorize Directors' Committee to Fix Their Remuneration
7 Approve Mutual Coal Supply Agreement, Annual Mgmt For For Caps and Related Transactions
8 Approve Mutual Supplies and Services Mgmt For For Agreement, Annual Caps and Related Transactions
9 Approve Financial Services Agreement, Annual Mgmt For Against Caps and Related Transactions Voter Rationale:
In the absence of compelling economic rationale such pooling of the group's cash through an unlisted financial vehicle may give the parent company control over the listed company's finances.
ELECT 1 EXECUTIVE DIRECTOR AND 1 Mgmt NON-EXECUTIVE DIRECTOR VIA CUMULATIVE VOTING
10.01 Elect Li Dong as Director Mgmt For For
10.02 Elect Zhao Jibin as Director Mgmt For For
Page 75 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Shenhua Energy Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT 1 SUPERVISOR VIA CUMULATIVE Mgmt VOTING
11 Elect Zhou Dayu as Supervisor Mgmt For For
China State Construction International Holdings Limited
Meeting Date: 06/01/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 03311
Primary ISIN: KYG216771363 Primary SEDOL: B0BM5T8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A Elect Zhou Yong 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.
3B Elect Zhou Hancheng as Director Mgmt For For
3C Elect Hung Cheung Shew as Director Mgmt For For
3D Elect Raymond Leung Hai Ming as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
6A 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.
6B Authorize Repurchase of Issued Share Capital Mgmt For For
6C 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.
Page 76 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China State Construction International Holdings Limited
Meeting Date: 06/17/2016 Country: Cayman Islands Meeting Type: Special Ticker: 03311
Primary ISIN: KYG216771363 Primary SEDOL: B0BM5T8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Acquisition Agreement and Related Mgmt For For Transactions
2 Approve Subscription Agreement and Related Mgmt For For Transactions
China Steel Chemical Corp
Meeting Date: 06/16/2016 Country: Taiwan Meeting Type: Annual Ticker: 1723
Primary ISIN: TW0001723005 Primary SEDOL: 6136318
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
4.1 Elect Wang Shyi Chin, a Representative of China Mgmt For Against Steel Corporation with Shareholder No.1000001, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Sung Jyh Yuh, a Representative of China Mgmt For Against Steel Corporation with Shareholder No.1000001, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect Lee Chien Ming, a Representative of China Mgmt For Against Steel Corporation with Shareholder No.1000001, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 77 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Steel Chemical Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.4 Elect Yao Wen Tai, a Representative of China Mgmt For Against Steel Corporation with Shareholder No.1000001, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.5 Elect Chao Yu Mei, a Representative of China Mgmt For Against Steel Corporation with Shareholder No.1000001, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect Koo Cheng Yun, a Representative of China Mgmt For Against Synthetic Rubber Corporation with Shareholder No.1000003, as Non-Independent Director
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect Chao Tien Fu, a Representative of China Mgmt For Against Synthetic Rubber Corporation with Shareholder No.1000003, as Non-Independent Director
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.8 Elect Hsieh Hsing Shu with ID No.P101135XXX Mgmt For For as Independent Director
4.9 Elect Wang Yuan Hong with ID No.B121240XXX Mgmt For For as Independent Director
4.10 Elect Yu Jun Yan, a Representative of CTCI Mgmt For For Corporation with Shareholder No.1000005, as Supervisor
4.11 Elect Chen Zhe Sheng with Shareholder Mgmt For For No.75298 as Supervisor
4.12 Elect Chia Kai Jie with ID No.A123471XXX as Mgmt For For Supervisor
China Taiping Insurance Holdings Co Ltd.
Meeting Date: 05/19/2016 Country: Hong Kong Meeting Type: Annual Ticker: 966
Primary ISIN: HK0000055878 Primary SEDOL: 6264048
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
Page 78 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Taiping Insurance Holdings Co Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2a1 Elect Wang Bin as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
2a2 Elect Meng Zhaoyi as Director Mgmt For For
2a3 Elect Huang Weijian as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
2a4 Elect Zhu Xiangwen as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
2a5 Elect Xie Zhichun as Director Mgmt For For
2b Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve PricewaterhouseCoopers as Mgmt For For Independent Auditor and Authorize Board to Fix Their Remuneration
4 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.
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
China Telecom Corporation Ltd
Meeting Date: 05/25/2016 Country: China Meeting Type: Annual Ticker: 728
Primary ISIN: CNE1000002V2 Primary SEDOL: 6559335
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Plan and Final Mgmt For For Dividend for the Year 2015
Page 79 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Telecom Corporation Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Deloitte Touche Tohmatsu as Mgmt For For International Auditor and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration
4.1 Approve Issuance of Debentures Mgmt For Against
Voter Rationale:
A vote AGAINST these proposals is warranted given the lack of disclosed information relating to the terms and use of proceeds of the issue of debentures and the potential dilution associated with the convertible bonds that may be issued under this mandate.
4.2 Authorize Board to Deal with All Matters in Mgmt For Against Relation to the Issuance of Debentures Voter Rationale:
A vote AGAINST these proposals is warranted given the lack of disclosed information relating to the terms and use of proceeds of the issue of debentures and the potential dilution associated with the convertible bonds that may be issued under this mandate.
5.1 Approve Issuance of Company Bonds Mgmt For For
5.2 Authorize Board to Deal with All Matters in Mgmt For For Relation to the Issuance of Company Bonds
6 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.
7 Authorize Board to Increase Registered Capital Mgmt For Against of the Company and Amend Articles of Association to Reflect Such Increase 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.
China Vanke Co., Ltd.
Meeting Date: 06/27/2016 Country: China Meeting Type: Annual Ticker: 2202
Primary ISIN: CNE0000000T2 Primary SEDOL: 6803708
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Report of the Supervisory Mgmt For For Committee Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
Page 80 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
China Vanke Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve 2015 Annual Report and Audited Mgmt For For Financial Report Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2015 Dividend Distribution Plan Mgmt For For
5 Approve KPMG Huazhen LLP and KPMG as PRC Mgmt For For Auditor and International Auditor Respectively
Chongqing Rural Commercial Bank Co., Ltd.
Meeting Date: 06/17/2016 Country: China Meeting Type: Annual Ticker: 03618
Primary ISIN: CNE100000X44 Primary SEDOL: B4Q1Y57
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
INITIAL ORDINARY RESOLUTIONS Mgmt
1 Approve 2015 Work Report of the Board of Mgmt For For Directors
2 Approve 2015 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2015 Annual Financial Final Propsal Mgmt For For
4 Approve 2015 Annual Profit Distribution Plan Mgmt For For
5 Approve 2015 Annual Report Mgmt For For
6 Approve 2016 Financial Budget Mgmt For For
7 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors and Fix Their Remuneration
INITIAL SPECIAL RESOLUTION Mgmt
8 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.
SUPPLEMENTAL ORDINARY RESOLUTIONS Mgmt
1 Approve Dilution of Current Returns by Initial SH For For Public Offering and Listing of A Shares and Remedial Measures
Page 81 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Chongqing Rural Commercial Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Program of Stabilization of A Share SH For For Price Within Three Years After the Initial Public Offering and Listing of A Shares
3 Approve Deliberation of Dividend Return Plan SH For For for the Next Three Years After the Listing of A Shares
4 Approve Revision of Applicable and Effective SH For For Procedural Rules of the General Meeting After the Initial Public Offering of A Shares
5 Approve Revision of Applicable and Effective SH For For Procedural Rules of the Board After the Initial Public Offering of A Shares
6 Approve Revision of Applicable and Effective SH For For Procedural Rules of the Supervisory Committee After the Initial Public Offering of A Shares
7 Approve Undertakings on the Matters in SH For For Connection with the Initial Public Offering and Listing of A Shares
SUPPLEMENTAL SPECIAL RESOLUTIONS Mgmt
RESOLUTIONS RELATING TO THE INITIAL Mgmt PUBLIC OFFERING AND LISTING OF A SHARES
8.1 Approve Class of Shares and Nominal Value in SH For For Relation to the Initial Public Offering and Listing of A Shares
8.2 Approve Offering Size in Relation to the Initial SH For For Public Offering and Listing of A Shares
8.3 Approve Target Subscribers in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.4 Approve Strategic Placing in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.5 Approve Method of Offering in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.6 Approve Pricing Methodology in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.7 Approve Form of Underwriting in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.8 Approve Conversion into a Joint Stock Company SH For For in Relation to the Initial Public Offering and Listing of A Shares
8.9 Approve Use of Proceeds in Relation to the SH For For Initial Public Offering and Listing of A Shares
8.10 Approve Term of Offering Plan in Relation to the SH For For Initial Public Offering and Listing of A Shares
Page 82 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Chongqing Rural Commercial Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Authorize Board to Deal with Relevant Matters SH For For in Relation to the Initial Public Offering and Listing of A Shares
10 Approve Use of Proceeds from the Initial Public SH For For Offering of A Shares
11 Approve Distribution Plan for Undistributed SH For For Accumulated Profit Before the Initial Public Offering and Listing of A Shares
12 Amend Articles of Association SH For For
Cielo SA
Meeting Date: 04/08/2016 Country: Brazil Meeting Type: Annual Ticker: CIEL3
Primary ISIN: BRCIELACNOR3 Primary SEDOL: B614LY3
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, 2015
2 Approve Capital Budget, Allocation of Income Mgmt For For and Dividends
3.1 Fix Number of Directors Mgmt For For
3.2 Elect Alexandre Rappaport as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.3 Elect Antonio Mauricio Maurano as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.4 Elect Cesario Narihito Nakamura as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.5 Elect Eurico Ramos Fabri as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.6 Elect Francisco Augusto da Costa e Silva as Mgmt For For Independent Director
3.7 Elect Gilberto Mifano as Independent Director Mgmt For For
Page 83 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cielo SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.8 Elect Jose Mauricio Pereira Coelho as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.9 Elect Marcelo de Araujo Noronha as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.10 Elect Milton Almicar Silva Vargas as Mgmt For For Independent Director
3.11 Elect Raul Francisco Moreira as Director Mgmt For Against
Voter Rationale:
CHECK Tenure and IndependenceThe board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.12 Elect Rogerio Magno Panca as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.1 Elect Carlos Roberto Mendonça da Silva as Mgmt For For Alternate Fiscal Council Member
4.2 Elect Edmar Jose Casalatina as Fiscal Council Mgmt For For Member
4.3 Elect Flavio Saba Santos Estrela as Alternate Mgmt For For Fiscal Council Member
4.4 Elect Haroldo Reginaldo Levy Neto as Mgmt For For Independent Fiscal Council Member
4.5 Elect Herculano Anibal Alves as Fiscal Council Mgmt For For Member
4.6 Elect Joel Antonio de Araujo as Fiscal Council Mgmt For For Member
4.7 Elect Kleber do Espirito Santo as Alternate Fiscal Mgmt For For Council Member
4.8 Elect Marcelo Santos Dall´Occo as Fiscal Council Mgmt For For Member
4.9 Elect Milton Luiz Milioni as Alternate Mgmt For For Independent Fiscal Council Member
4.10 Elect Valerio Zarro as Alternate Fiscal Council Mgmt For For Member
5 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Page 84 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cielo SA
Meeting Date: 04/08/2016 Country: Brazil Meeting Type: Special Ticker: CIEL3
Primary ISIN: BRCIELACNOR3 Primary SEDOL: B614LY3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Authorize Capitalization of Reserves for Bonus Mgmt For For Issue and Amend Article 7
2 Include Article 48 Mgmt For For
3 Consolidate Bylaws Mgmt For For
CITIC Securities Co., Ltd.
Meeting Date: 06/28/2016 Country: China Meeting Type: Annual Ticker: 600030
Primary ISIN: CNE000001DB6 Primary SEDOL: 6579355
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 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.
2 Approve 2015 Work Report of the Board Mgmt For For
3 Approve 2015 Work Report of the Supervisory Mgmt For For Committee
4 Approve 2015 Annual Report Mgmt For For
5 Approve 2015 Profit Distribution Plan Mgmt For For
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For Against LLP and PricewaterhouseCoopers as External Auditors Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Approve 2016 Estimated Investment Amount for Mgmt For For Proprietary Business
8 Approve 2015 Remuneration of Directors and Mgmt For For Supervisors
Page 85 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CITIC Securities Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9.1 Approve Potential Related Party Transactions Mgmt For For Between the Company and Its Subsidiaries and the CITIC Group and Associates
9.2 Approve Related Party Transactions Between the Mgmt For For Company and Its Subsidiaries and Associates in which Directors, Supervisors and Senior Management of the Company Hold Positions as Directors or Senior Management
10 Elect Chen Zhong as Director Mgmt For For
CNOOC Ltd.
Meeting Date: 05/26/2016 Country: Hong Kong Meeting Type: Annual Ticker: 883
Primary ISIN: HK0883013259 Primary SEDOL: B00G0S5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
A1 Accept Financial Statements and Statutory Mgmt For For Reports
A2 Approve Final Dividend Mgmt For For
A3 Elect Li Fanrong as Director Mgmt For For
A4 Elect Lv Bo as Director Mgmt For For
A5 Elect Chiu Sung Hong as Director Mgmt For Against
Voter Rationale: While we do not have any concerns in regard to the expertise and performance of this director, we do not consider him to be independent given his 16-year tenure. Prolonged membership on a board jeopardises independence as directors may become close with management and overly invested in prior strategic decisions. After a certain length of board service, directors may not be considered fully independent and it may be inappropriate for such directors to serve on committees, such as the audit committee, where independence is a key criterion. We recognise that there is no fixed time period that can automatically trigger a director’s loss of independence, but use a 12-year benchmark as a general guidance. If a board values such a director’s experienced perspective, he should beconsidered an affiliated director.
A6 Authorize Board to Fix the Remuneration of Mgmt For For Directors
A7 Approve Deloitte Touche Tohmatsu as Mgmt For For Independent Auditors and Authorize Board to Fix Their Remuneration
B1 Authorize Repurchase of Issued Share Capital Mgmt For For
B2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
B3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Page 86 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cogobuy Group
Meeting Date: 06/02/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 400
Primary ISIN: KYG225371072 Primary SEDOL: BP46XQ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2a Elect Zhong Xiaolin, Forrest as Director Mgmt For For
2b Elect Ye Xin as Director Mgmt For For
2c Elect Yan Andrew Y as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
7 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.
8 Approve Issuance of Shares Under the Mgmt For Against Restricted Share Unit Scheme Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Compal Electronics Inc.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 2324
Primary ISIN: TW0002324001 Primary SEDOL: 6225744
Page 87 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Compal Electronics Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Cash Dividend Distribution from Capital Mgmt For For Reserve
3 Amend Trading Procedures Governing Mgmt For For Derivatives Products
4 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
5 Approve Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
6 Approve Plan on Profit Distribution Mgmt For For
7 Other Business Mgmt None Against
Voter Rationale:
Any Other Business should not be a voting item.
Companhia Brasileira de Distribuicao Grupo Pao de Acucar
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Annual Ticker: PCAR4
Primary ISIN: BRPCARACNPR0 Primary SEDOL: B5VGS74
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Director Nominated by Preferred SH None Abstain Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
Companhia Paranaense de Energia - COPEL
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual Ticker: CPLE6
Primary ISIN: BRCPLEACNPB9 Primary SEDOL: 2200154
Page 88 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Companhia Paranaense de Energia - COPEL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Fiscal Council Member Nominated by SH None Abstain Preferred Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
Compania Cervecerias Unidas S.A.
Meeting Date: 04/13/2016 Country: Chile Meeting Type: Annual Ticker: CCU
Primary ISIN: CLP249051044 Primary SEDOL: 2196189
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Present Chairman's Report Mgmt
2 Approve Financial Statements and Statutory Mgmt For For Reports
3 Approve Allocation of Income and Dividends of Mgmt For For CLP 97.47 per Share and CLP 194.95 per ADR to Be Distributed on April 22, 2016
4 Present Dividend Policy Mgmt
5 Elect Directors Mgmt For Withhold
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Approve Remuneration of Directors Mgmt For For
7 Approve Remuneration and Budget of Directors' Mgmt For For Committee
8 Approve Remuneration and Budget of Audit Mgmt For For Committee
9a Appoint Auditors Mgmt For For
9b Designate Risk Assessment Companies Mgmt For For
10 Present Directors' Committee Report on Mgmt Activities
11 Receive Report Regarding Related-Party Mgmt Transactions
Page 89 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Compania Cervecerias Unidas S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Transact Other Business Mgmt
Controladora Comercial Mexicana S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual/Special Ticker: COMERCI UBC
Primary ISIN: MXP200821413 Primary SEDOL: 2222459
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Report on Activities and Operations Mgmt For For Undertaken by Board
3.a Approve Allocation of Income Mgmt For For
3.b Set Maximum Amount of Share Repurchase Mgmt For For Reserve
4 Elect or Ratify Members of Board of Directors Mgmt For Against and Committee Members; Approve Their Remuneration Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.a Ratify Resolutions Approved by EGM on Jan. 8, Mgmt For For 2016 Re: Cancellation of Registration of Shares
5.b Ratify Resolutions Approved by EGM on Jan. 8, Mgmt For For 2016 Re: Cancellation of Public Offering
6 Amend Article 3 Re: Location of Company Mgmt For For Headquarters
7 Appoint Legal Representatives Mgmt For For
Corporacion Inmobiliaria Vesta S.A.B. de C.V.
Meeting Date: 04/04/2016 Country: Mexico Meeting Type: Annual Ticker: VESTA *
Primary ISIN: MX01VE0M0003 Primary SEDOL: B8F6ZF8
Page 90 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Corporacion Inmobiliaria Vesta S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Audited and Consolidated Financial Mgmt For For Statements
2 Present Report on Adherence to Fiscal Mgmt Obligations
3 Approve Cash Dividends, Considering Current Mgmt For For Dividend Policy and Board's Recommendation
4 Approve New Dividend Policy According to that Mgmt For For Approved by General Meeting on Sep. 22, 2012
5 Approve CEO's Report Mgmt For For
6 Approve Board's Report Mgmt For For
7 Approve Report of Audit, Corporate Practices, Mgmt For For Investment, Ethics, Debt and Capital, and Social and Environmental Responsibility Committees
8 Elect or Ratify Directors; Elect Chairmen of Mgmt For For Audit and Corporate Practices Committees, and Approve their Remuneration Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
9 Authorize Share Repurchase Program Mgmt For For
10 Appointment of Legal Representatives Mgmt
Cosan S.A. Industria e Comercio
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: CSAN3
Primary ISIN: BRCSANACNOR6 Primary SEDOL: B0P72G5
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For For
3 Ratify Interim Dividends Mgmt For For
Page 91 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cosan S.A. Industria e Comercio
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
5 Elect Fiscal Council Members Mgmt For For
5.1 Elect Fiscal Council Member Appointed by SH None Do Not Vote Minority Shareholder Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
Country Garden Holdings Company Ltd.
Meeting Date: 05/16/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2007
Primary ISIN: KYG245241032 Primary SEDOL: B1VKYN6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a1 Elect Yang Huiyan as Director Mgmt For For
3a2 Elect Mo Bin as Director Mgmt For For
3a3 Elect Zhu Rongbin as Director Mgmt For For
3a4 Elect Yang Ziying as Director Mgmt For For
3a5 Elect Shek Lai Him, Abraham as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3a6 Elect Tong Wui Tung, Ronald as Director Mgmt For For
3a7 Elect Mei Wenjue as Director Mgmt For For
3b Authorize Board to Fix the Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
Page 92 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Country Garden Holdings Company Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
CP All PCL
Meeting Date: 04/21/2016 Country: Thailand Meeting Type: Annual Ticker: CPALL
Primary ISIN: TH0737010Y08 Primary SEDOL: B08YDG0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Director's Report Mgmt
3 Accept Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Elect Komain Bhatarabhirom as Director Mgmt For For
5.2 Elect Pridi Boonyoung as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.3 Elect Padoong Techasarintr as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.4 Elect Phatcharavat Wongsuwan as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
5.5 Elect Prasobsook Boondech as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
Page 93 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CP All PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Approve KPMG Phoomchai Audit Ltd. as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
8 Authorize Issuance of Bonds Mgmt For For
9 Acknowledge the Progress of Elevating the Mgmt Company's Corporate Governance
10 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
CTBC Financial Holding Co., Ltd.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 2891
Primary ISIN: TW0002891009 Primary SEDOL: 6527666
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares Mgmt For For
5 Approve Issuance of Shares via a Private Mgmt For For Placement
6 Other Business Mgmt None Against
Voter Rationale:
Any Other Business should not be a voting item.
CTCI Corp.
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 9933
Primary ISIN: TW0009933002 Primary SEDOL: 6239187
Page 94 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
CTCI Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report, Financial Mgmt For For Statements and Consolidated Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors and Representatives
Cyrela Brazil Realty S.A Empreendimentos E Participacoes
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Special Ticker: CYRE3
Primary ISIN: BRCYREACNOR7 Primary SEDOL: 2189855
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 6 to Reflect Changes in Capital Mgmt For For
2 Amend Articles 54 to 57 Mgmt For For
3 Authorize Capitalization of Reserves and Amend Mgmt For For Article 6
4 Consolidate Bylaws Mgmt For For
Cyrela Brazil Realty S.A Empreendimentos E Participacoes
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual Ticker: CYRE3
Primary ISIN: BRCYREACNOR7 Primary SEDOL: 2189855
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, 2015
Page 95 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Cyrela Brazil Realty S.A Empreendimentos E Participacoes
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Allocation of Income and Dividends Mgmt For Against
Voter Rationale: The proposed approach is not in line with investors' interests and expectations.
3 Fix Number and Elect Directors Mgmt For Against
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.
3.1 Elect Director Appointed by Minority SH None Do Not Vote Shareholder Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Datang International Power Generation Co. Ltd
Meeting Date: 06/30/2016 Country: China Meeting Type: Annual Ticker: 991
Primary ISIN: CNE1000002Z3 Primary SEDOL: 6080716
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Proposal of Final Accounts Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve Ruihua China CPAs (Special Ordinary Mgmt For For Partnership) and RSM Hong Kong as Domestic and International Auditors Respectively
6.1 Elect Chen Jinhang as Director SH For For
6.2 Elect Liu Chuandong as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.3 Elect Wang Xin as Director SH For For
Page 96 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Datang International Power Generation Co. Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6.4 Elect Liang Yongpan as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6.5 Elect Ying Xuejun as Director SH For For
6.6 Elect Liu Haixia as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.7 Elect Guan Tiangang as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.8 Elect Cao Xin as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.9 Elect Zhao Xianguo as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.10 Elect Zhu Shaowen as Director SH For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
6.11 Elect Feng Genfu as Director SH For For
6.12 Elect Luo Zhongwei as Director SH For For
6.13 Elect Liu Huangsong as Director SH For For
6.14 Elect Jiang Fuxiu as Director SH For For
7.1 Elect Liu Quancheng as Supervisor SH For For
7.2 Elect Zhang Xiaoxu as Supervisor SH For For
8 Approve Registration of Debt and Financing Mgmt For Against Instruments of Non-financial Corporate Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 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.
Delta Electronics Inc.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 2308
Primary ISIN: TW0002308004 Primary SEDOL: 6260734
Page 97 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Delta Electronics Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Profit Distribution Mgmt For For
4 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
ELECT INDEPENDENT DIRECTOR VIA Mgmt CUMULATIVE VOTING
5.1 Elect Li Ji Ren with ID No. Y120143XXX as Mgmt For For Independent Director
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
7 Transact Other Business (Non-Voting) Mgmt
Dongfeng Motor Group Company Ltd
Meeting Date: 06/17/2016 Country: China Meeting Type: Annual Ticker: 00489
Primary ISIN: CNE100000312 Primary SEDOL: B0PH5N3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Report of the Supervisory Mgmt For For Committee Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2015 International Auditors' Report and Mgmt For For Audited Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2015 Profit Distribution Plan and Mgmt For For Authorize Board to Deal All Issues in Relation to Distribution of Dividend Payment
5 Authorize Board to Deal All Issues in Relation to Mgmt For For Distribution of 2016 Interim Dividend
Page 98 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Dongfeng Motor Group Company Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve PricewaterhouseCoopers as Mgmt For For International Auditors and PricewaterhouseCoopers Zhong Tian LLP as Domestic Auditors and Authorize Board to Fix Their Remuneration
7 Authorize Board to Fix Remuneration of Mgmt For For Directors and Supervisors
8 Approve Removal of Zhu Fushuo as Director Mgmt For For
9 Amend Rules of Procedures Mgmt For For
10 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.
11 Approve Application for Debt Financing Limit of Mgmt For Against the Company Voter Rationale:
A vote AGAINST this resolution is warranted given the limited disclosure regarding the proposed issuance of bonds.
EDP - Energias Do Brasil SA
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Annual Ticker: ENBR3
Primary ISIN: BRENBRACNOR2 Primary SEDOL: B0D7494
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, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Fix Number and Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
5 Designate Newspapers to Publish Company Mgmt For For Announcements
Page 99 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
EDP - Energias Do Brasil SA
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Special Ticker: ENBR3
Primary ISIN: BRENBRACNOR2 Primary SEDOL: B0D7494
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Changes in Authorized Capital and Mgmt For For Amend Article 6
Elite Advanced Laser Corp.
Meeting Date: 06/06/2016 Country: Taiwan Meeting Type: Annual Ticker: 3450
Primary ISIN: TW0003450003 Primary SEDOL: B07NLN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report, Financial Mgmt For For Statements and Consolidated Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
6 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
7 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
8 Amend Procedures for Endorsement and Mgmt For For Guarantees
9 Amend Procedures for Lending Funds to Other Mgmt For For Parties
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
10.1 Elect Zheng Zhu Liang with Shareholder No.3 as Mgmt For For Non-Independent Director
10.2 Elect Huang Wen Hsin with Shareholder No.5 as Mgmt For For Non-Independent Director
Page 100 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Elite Advanced Laser Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.3 Elect Liang Cong Ming with Shareholder No.6 as Mgmt For For Non-Independent Director
10.4 Elect Huang Wen Jun as Non-Independent Mgmt For For Director
10.5 Elect Chen Tai Jun with Shareholder No.5600 as Mgmt For For Non-Independent Director
10.6 Elect Ou Jin Ren with Shareholder No.648 as Mgmt For For Independent Director
10.7 Elect Yang Jun Chi with Shareholder No.438 as Mgmt For For Independent Director
10.8 Elect Yang Ji Yu as Independent Director Mgmt For For
10.9 Elect Ye Jun Wei as Independent Director Mgmt For For
11 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors and Representatives
Embotelladora Andina S.A.
Meeting Date: 04/21/2016 Country: Chile Meeting Type: Annual Ticker: ANDINA-B
Primary ISIN: CLP3697S1034 Primary SEDOL: 2311454
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income and Dividends Mgmt For For
3 Present Dividend Policy Mgmt For For
4 Elect Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Approve Remuneration of Directors, Directors' Mgmt For For Committee and Audit Committee Members, their Annual Reports and Expenses Incurred by both Committees
6 Appoint Auditors Mgmt For For
7 Designation of Risk Assessment Companies Mgmt For For
Page 101 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Embotelladora Andina S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Receive Report Regarding Related-Party Mgmt For For Transactions
9 Designate Newspaper to Publish Meeting Mgmt For For Announcements
10 Other Business (Voting) Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Embraer SA
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Annual Ticker: EMBR3
Primary ISIN: BREMBRACNOR4 Primary SEDOL: B16FPG6
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members Mgmt For For
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
5 Approve Remuneration of Fiscal Council Mgmt For For Members
Embraer SA
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Special Ticker: EMBR3
Primary ISIN: BREMBRACNOR4 Primary SEDOL: B16FPG6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
Page 102 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Embraer SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Cancel Stock Option Plan for Board of Directors Mgmt For For
Embraer SA
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Annual/Special Ticker: EMBR3
Primary ISIN: BREMBRACNOR4 Primary SEDOL: B16FPG6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members Mgmt For For
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
5 Approve Remuneration of Fiscal Council Mgmt For For Members
Special Meeting Mgmt
6 Amend Articles Mgmt For For
7 Cancel Stock Option Plan for Board of Directors Mgmt For For
eMemory Technology Inc.
Meeting Date: 06/14/2016 Country: Taiwan Meeting Type: Annual Ticker: 3529
Primary ISIN: TW0003529004 Primary SEDOL: B2PXYH2
Page 103 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016 eMemory Technology Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report, Financial Mgmt For For Statements and Consolidated Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Cash Dividend Distribution from Capital Mgmt For For Reserve
ELECT INDEPENDENT DIRECTOR VIA Mgmt CUMULATIVE VOTING
5.1 Elect CHEN ZI QIANG as Independent Director Mgmt For For
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Independent Director
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.
Meeting Date: 04/14/2016 Country: Turkey Meeting Type: Annual Ticker: EKGYO
Primary ISIN: TREEGYO00017 Primary SEDOL: B586565
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Authorize Presiding Council to Sign Minutes of Mgmt For For Meeting
3 Accept Statutory Reports Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Ratify External Auditors Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Page 104 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Elect Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Approve Director Remuneration Mgmt For For
10 Receive Information on Charitable Donations for Mgmt For Against 2015 and Approve Upper Limit of the Donations for 2016 Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
12 Receive Information in Accordance to Article Mgmt 1.3.6 of Capital Markets Board Corporate Governance Principles
13 Receive Information on Remuneration Policy Mgmt
14 Approve Share Repurchase Program Mgmt For For
15 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
16 Close Meeting Mgmt
Empresas Copec S.A.
Meeting Date: 04/27/2016 Country: Chile Meeting Type: Annual Ticker: COPEC
Primary ISIN: CLP7847L1080 Primary SEDOL: 2196026
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
a Accept Financial Statements and Statutory Mgmt For For Reports
b Elect Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
c Receive Report Regarding Related-Party Mgmt Transactions
d Approve Remuneration of Directors Mgmt For For
Page 105 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Empresas Copec S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
e Approve Remuneration and Budget of Directors' Mgmt For For Committee; Present Report on Directors' Committee Expenses and Activities
f Appoint Auditors and Designate Risk Mgmt For Against Assessment Companies Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
g Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Energa SA
Meeting Date: 06/24/2016 Country: Poland Meeting Type: Annual Ticker: ENG
Primary ISIN: PLENERG00022 Primary SEDOL: BGQYBX7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Approve Management Board Report on Mgmt For For Company's Operations in Fiscal 2015
6 Approve Financial Statements for Fiscal 2015 Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
7 Approve Allocation of Income and Dividends of Mgmt For For PLN 0.49 per Share
8.1 Do Not Grant Discharge to Miroslaw Bielinski Mgmt For For (CEO)
8.2 Do Not Grant Discharge to Roman Szyszko Mgmt For For (Deputy CEO)
8.3 Do Not Grant Discharge to Wojciech Topolnicki Mgmt For For (Deputy CEO)
8.4 Do Not Grant Discharge to Andrzej Tersa Mgmt For For (Deputy CEO)
8.5 Do Not Grant Discharge to Jolanta Szydlowska Mgmt For For (Deputy CEO)
Page 106 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Energa SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.6 Do Not Grant Discharge to Seweryn Kedra Mgmt For For (Deputy CEO)
9.1 Approve Discharge of Boguslaw Nadolnik Mgmt For For (Supervisory Board Member)
9.2 Approve Discharge of Zbigniew Wtulich Mgmt For For (Supervisory Board Member)
9.3 Approve Discharge of Marian Gawrylczyk Mgmt For For (Supervisory Board Member)
9.4 Approve Discharge of Miroslaw Szreder Mgmt For For (Supervisory Board Member)
9.5 Approve Discharge of Paula Ziemiecka-Ksiezak Mgmt For For (Supervisory Board Member)
9.6 Approve Discharge of Bogdan Skalski Mgmt For For (Supervisory Board Member)
9.7 Approve Discharge of Jaroslaw Mioduszewski Mgmt For For (Supervisory Board Member)
9.8 Approve Discharge of Jakub Zolyniak Mgmt For For (Supervisory Board Member)
9.9 Approve Discharge of Waldemar Kamrat Mgmt For For (Supervisory Board Member)
9.10 Approve Discharge of Roman Pionkowski Mgmt For For (Supervisory Board Member)
10 Approve Management Board Report on Group's Mgmt For For Operations in Fiscal 2015
11 Approve Consolidated Financial Statements for Mgmt For For Fiscal 2015
12 Close Meeting Mgmt
Enersis Americas SA
Meeting Date: 04/28/2016 Country: Chile Meeting Type: Annual Ticker: ENERSIS-AM
Primary ISIN: CLP371861061 Primary SEDOL: 2299453
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Enersis Americas Ordinary Shareholders' Mgmt Meeting
Page 107 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Enersis Americas SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
4 Approve Remuneration of Directors Mgmt For For
5 Approve Remuneration of Directors' Committee Mgmt For For and Approve Their Budget for FY 2016
6 Present Board's Report on Expenses; Present Mgmt Directors' Committee Report on Activities and Expenses
7 Appoint Auditors Mgmt For For
8 Elect Two Supervisory Account Inspectors and Mgmt For For their Alternates; Approve their Remuneration
9 Designate Risk Assessment Companies Mgmt For For
10 Approve Investment and Financing Policy Mgmt For For
11 Present Dividend Policy and Distribution Mgmt Procedures
12 Receive Report Regarding Related-Party Mgmt Transactions
13 Present Report on Processing, Printing, and Mgmt Mailing Information Required by Chilean Law
14 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
15 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Enersis Chile Ordinary Shareholders' Meeting Mgmt
1 Approve Allocation of Income and Dividends Mgmt For For
2 Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
3 Approve Remuneration of Directors Mgmt For For
4 Approve Remuneration of Directors' Committee Mgmt For For and Approve Their Budget for FY 2016
5 Appoint Auditors Mgmt For For
6 Elect Two Supervisory Account Inspectors and Mgmt For For their Alternates; Approve their Remuneration
Page 108 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Enersis Americas SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Designate Risk Assessment Companies Mgmt For For
8 Approve Investment and Financing Policy Mgmt For For
9 Present Dividend Policy and Distribution Mgmt Procedures
10 Receive Report Regarding Related-Party Mgmt Transactions
11 Present Report on Processing, Printing, and Mgmt Mailing Information Required by Chilean Law
12 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
13 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Erste Group Bank AG
Meeting Date: 05/11/2016 Country: Austria Meeting Type: Annual Ticker: EBS
Primary ISIN: AT0000652011 Primary SEDOL: 5289837
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Receive Financial Statements and Statutory Mgmt Reports (Non-Voting)
2 Approve Allocation of Income and Dividends of Mgmt For For EUR 0.50 per Share
3 Approve Discharge of Management Board Mgmt For For
4 Approve Discharge of Supervisory Board Mgmt For For
5 Approve Remuneration of Supervisory Board Mgmt For For Members
6 Ratify PwC Wirtschaftspruefung GmbH Auditors Mgmt For For
7 Amend Articles Re: Introduction of Age Limit for Mgmt For Against Board Members Voter Rationale:
Any limitation of directors' tenure should be expressed as a number of terms rather than age of individual board members.
Page 109 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Estacio Participacoes SA
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Annual Ticker: ESTC3
Primary ISIN: BRESTCACNOR5 Primary SEDOL: B23PBF7
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, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Capital Budget Mgmt For For
4.a Install Fiscal Council Mgmt For For
4.b Elect Fiscal Council Members Mgmt For For
4.c Elect Fiscal Council Member Appointed by SH None Do Not Vote Minority Shareholder Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
5.a Fix Number of Directors Mgmt For For
5.b Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
5.b.1 Elect Director Appointed by Minority SH None Abstain Shareholder Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
5.b.2 In Case of Cumulative Voting, Approve Equal Mgmt For Abstain Distribution of Votes among Directors Appointed by the Company's Management Voter Rationale: Instead of diverse forms of cumulative voting, we advocate for the introduction of simple majority voting.
5.c Approve Exemption of Art. 147 Paragraph 3 of Mgmt For For Law 6.404/76 and Art. 2 Paragraph 3 of CVM Notice 367/02
6 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members
Estacio Participacoes SA
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Special Ticker: ESTC3
Primary ISIN: BRESTCACNOR5 Primary SEDOL: B23PBF7
Page 110 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Estacio Participacoes SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.a Ratify Acquisition of Centro Educacional Nossa Mgmt For For Cidade Ltda to Be Carried Out by the Company's Subsidiary Sociedade Educacional Atual da Amazonia Ltda and Authorize Board to Ratify and Execute Approved Resolutions
1.b Ratify Acquisition of Faculdades Integradas de Mgmt For For Castanhal Ltda to Be Carried Out by the Company's Subsidiary Sociedade Educacional Atual da Amazonia Ltda and Authorize Board to Ratify and Execute Approved Resolutions
2 Authorize Capitalization of Reserves and Amend Mgmt For For Article 5 to Reflect the Changes in Capital
Etalon Group Ltd.
Meeting Date: 05/20/2016 Country: Guernsey Meeting Type: Annual Ticker: ETLN
Primary ISIN: US29760G1031 Primary SEDOL: B5TWX80
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Ratify Auditors Mgmt For For
4 Authorize Board to Fix Remuneration of Auditors Mgmt For For
5 Re-elect Martin Cocker as a Director Mgmt For For
6 Re-elect Anton Poryadin as a Director Mgmt For For
7 Re-elect Andrew Howat as a Director Mgmt For For
Page 111 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Eurocash SA
Meeting Date: 04/19/2016 Country: Poland Meeting Type: Annual Ticker: EUR
Primary ISIN: PLEURCH00011 Primary SEDOL: B064B91
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Acknowledge Proper Convening of Meeting Mgmt
3 Elect Meeting Chairman Mgmt For For
4 Prepare List of Shareholders Mgmt
5 Approve Agenda of Meeting Mgmt For For
6 Receive Financial Statements and Management Mgmt Board Report on Company's Operations for Fiscal 2015
7 Receive Consolidated Financial Statements and Mgmt Management Board Report on Group's Operations for Fiscal 2015
8 Receive Supervisory Board Report on Mgmt Company's Standing in Fiscal 2015
9 Approve Financial Statements and Management Mgmt For For Board Report on Company's Operations for Fiscal 2015
10 Approve Consolidated Financial Statements and Mgmt For For Management Board Report on Group's Operations for Fiscal 2015
11 Approve Allocation of Income and Dividends of Mgmt For For PLN 1 per Share
12.1 Approve Discharge of Luis Manuel Conceicao do Mgmt For For Amaral (CEO)
12.2 Approve Discharge of Katarzyna Kopaczewska Mgmt For For (Management Board Member)
12.3 Approve Discharge of Rui Amaral (Management Mgmt For For Board Member)
12.4 Approve Discharge of Arnaldo Guerreiro Mgmt For For (Management Board Member)
12.5 Approve Discharge of Pedro Martinho Mgmt For For (Management Board Member)
12.6 Approve Discharge of Jacek Owczarek Mgmt For For (Management Board Member)
12.7 Approve Discharge of Carlos Saraiva Mgmt For For (Management Board Member)
12.8 Approve Discharge of David Boner Mgmt For For (Management Board Member)
Page 112 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Eurocash SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13.1 Approve Discharge of Joao Borges de Assuncao Mgmt For For (Supervisory Board Chairman)
13.2 Approve Discharge of Eduardo Aguinaga de Mgmt For For Moraes (Supervisory Board Member)
13.3 Approve Discharge of Hans Joachim Korber Mgmt For For (Supervisory Board Member)
13.4 Approve Discharge of Francisco Jose Valente Mgmt For For Hipolito dos Santos (Supervisory Board Member)
13.5 Approve Discharge of Jacek Szwajcowski Mgmt For For (Supervisory Board Member)
14.1 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
14.2 Elect Supervisory Board Member Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
15 Approve Remuneration of Supervisory Board Mgmt For For Members
16 Close Meeting Mgmt
Evergrande Real Estate Group Ltd.
Meeting Date: 06/16/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 3333
Primary ISIN: KYG3225A1031 Primary SEDOL: B2Q8YL0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Hui Ka Yan as Director Mgmt For For
3b Elect Xia Haijun as Director Mgmt For For
3c Elect He Miaoling as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Page 113 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Evergrande Real Estate Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 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.
7 Authorize Repurchase of Issued Share Capital Mgmt For For
8 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.
9 Change English and Dual Foreign Name Mgmt For For
Farglory Land Development Co. Ltd.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 5522
Primary ISIN: TW0005522007 Primary SEDOL: 6203687
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
4.1 Elect Non-Independent Director No.1 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4.2 Elect Non-Independent Director No.2 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors and Representatives
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Page 114 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
First Quantum Minerals Ltd.
Meeting Date: 05/05/2016 Country: Canada Meeting Type: Annual Ticker: FM
Primary ISIN: CA3359341052 Primary SEDOL: 2347608
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Directors at Eight Mgmt For For
2.1 Elect Director Philip K.R. Pascall 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 for preserving accountability.
2.2 Elect Director G. Clive Newall Mgmt For For
2.3 Elect Director Martin R. Rowley Mgmt For For
2.4 Elect Director Peter St. George Mgmt For For
Voter Rationale:
Executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.
2.5 Elect Director Andrew B. Adams Mgmt For For
2.6 Elect Director Paul Brunner Mgmt For For
2.7 Elect Director Robert Harding Mgmt For For
2.8 Elect Director Martin Schady Mgmt For For
3 Approve PricewaterhouseCoopers LLP (UK) as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
4 Advisory Vote on Executive Compensation Mgmt For For Approach
Foxconn Technology Co. Ltd
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 2354
Primary ISIN: TW0002354008 Primary SEDOL: 6801779
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
Page 115 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Foxconn Technology Co. Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
6 Amend Procedures for Lending Funds to Other Mgmt For For Parties
7 Amend Procedures for Endorsement and Mgmt For For Guarantees
8 Amend Trading Procedures Governing Mgmt For For Derivatives Products
9 Amend Rules and Procedures for Election of Mgmt For For Directors
ELECT NON-INDEPENDENT DIRECTOR AND Mgmt INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING
10.1 Elect Lin Donliang, Representative of Hyield Mgmt For For Venture Capital Co., Ltd., with Shareholder No. 417956, as Non-Independent Director
10.2 Elect Cheng Fang'i, Representative of Hyield Mgmt For For Venture Capital Co., Ltd., with Shareholder No. 417956, as Non-Independent Director
10.3 Elect Hung Chihchien, Representative of Caixin Mgmt For For International Investment Co., Ltd., with Shareholder No. 5293, as Non-Independent Director
10.4 Elect Lee Xuekun, Representative of Caixin Mgmt For For International Investment Co., Ltd., with Shareholder No. 5293, as Non-Independent Director
10.5 Elect Lin Sungshu, with ID No. F122814XXX, as Mgmt For For Independent Director
10.6 Elect Chen Yaoching, with ID No. H100915XXX, Mgmt For For as Independent Director
10.7 Elect Yu Hsiangtun, with Shareholder No. Mgmt For For 521785, as Independent Director
11 Approve Release of Restrictions of Competitive Mgmt For For Activities of Appointed Directors
Page 116 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
FPC Par Corretora de Seguros S.A.
Meeting Date: 04/04/2016 Country: Brazil Meeting Type: Annual Ticker: PARC3
Primary ISIN: BRPARCACNOR3 Primary SEDOL: BXVKTQ8
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
FPC Par Corretora de Seguros S.A.
Meeting Date: 04/04/2016 Country: Brazil Meeting Type: Special Ticker: PARC3
Primary ISIN: BRPARCACNOR3 Primary SEDOL: BXVKTQ8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Company's Mgmt For For Management
2 Elect Directors Mgmt For Against
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.
FPC Par Corretora de Seguros S.A.
Meeting Date: 06/02/2016 Country: Brazil Meeting Type: Special Ticker: PARC3
Primary ISIN: BRPARCACNOR3 Primary SEDOL: BXVKTQ8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements for the First Mgmt For For Quarter of FY 2016
2 Approve Interim Dividends Mgmt For For
Page 117 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Freeport-McMoRan Inc.
Meeting Date: 06/08/2016 Country: USA Meeting Type: Annual Ticker: FCX
Primary ISIN: US35671D8570 Primary SEDOL: 2352118
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Director Richard C. Adkerson Mgmt For For
1.2 Elect Director Gerald J. Ford Mgmt For Withhold
Voter Rationale:
The nominating committee should remove directors who have long board tenure from committees that require absolute independence.
1.3 Elect Director Lydia H. Kennard Mgmt For For
1.4 Elect Director Andrew Langham Mgmt For For
1.5 Elect Director Jon C. Madonna Mgmt For For
1.6 Elect Director Courtney Mather Mgmt For For
1.7 Elect Director Dustan E. McCoy Mgmt For For
1.8 Elect Director Frances Fragos Townsend Mgmt For For
2 Ratify Ernst & Young LLP as Auditors Mgmt For For
3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:
The plan's structure and pay-for-performance results are not sufficiently strong. Good practices include: well disclosed and stretching performance targets; performance triggers for equity awards; using different metrics for the short and long-term plans; measuring company outcomes against its appropriate peer group; and setting awards so that executives are not rewarded for below-average performance. These and other approaches will ensure that the compensation committee designs compensation packages that build shareholder value over time. Furthermore, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control. Moreover, the remuneration committee should not allow vesting of incentive awards for below median performance.
4 Provide Proxy Access Right Mgmt For For
5 Increase Authorized Common Stock Mgmt For For
6 Provide Directors May Be Removed With or Mgmt For For Without Cause.
7 Approve Omnibus Stock Plan Mgmt For Against
Voter Rationale:
The plan improperly allows for accelerated vesting for an overly broad range of corporate restructuring scenarios and such provisions fail to reward performance. Rather, equity should be rolled forward into any successor company, or vest in a time-apportioned fashion only to the extent that performance conditions are met or if an executive loses his job. Furthermore, this plan could lead to excessive dilution.
8 Report on Actions to Reduce Impact of SH Against For Enhanced Oil Recovery Voter Rationale:
The company should report on possible risks and opportunities arising from processes used to extract natural gas from shale. There are concerns that serious environmental and public health risks have not been addressed thoroughly and may be subject to more stringent regulation in future.
Page 118 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Fubon Financial Holding Co. Ltd.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 2881
Primary ISIN: TW0002881000 Primary SEDOL: 6411673
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan for Profit Distribution Mgmt For For
4 Approve Long-term Funds Raising Plan Mgmt For Against
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.
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Daniel Tsai
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Richard Tsai
7 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Vivien Hsu
8 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Samuel Hsu
9 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Jerry Harn
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
10.1 Elect Jason Wang with ID No. R101091XXX as Mgmt For For Independent Director
Fuyao Glass Industry Group Co., Ltd.
Meeting Date: 05/20/2016 Country: China Meeting Type: Annual Ticker: 600660
Primary ISIN: CNE000000230 Primary SEDOL: 6353537
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Page 119 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Fuyao Glass Industry Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Work Report of the Board of Mgmt For For Directors Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Work Report of the Board of Mgmt For For Supervisors Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2015 Financial Report Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve 2015 Annual Report and Its Summary Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP (Special General Partnership) as Domestic Audit Institution and Internal Control Audit Institution for 2016 and Their Service Charges for 2015
Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
7 Approve PricewaterhouseCoopers as Overseas Mgmt For For Audit Institution for 2015 and 2016 Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
8 Approve 2015 Work Report of the Independent Mgmt For For Non-Executive Directors Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
9 Approve Company's Satisfaction of the SH For For Conditions of the Public Issuance of Corporate Bonds
10 Approve Resolutions on the Plan of Public SH For For Issuance of Corporate Bonds to Qualified Investors
10.01 Approve Size of the Issuance and Par Value in SH For For Relation to the Public Issuance of Corporate Bonds
10.02 Approve Coupon Rate of the Bonds and SH For For Determination Method in Relation to the Public Issuance of Corporate Bonds
10.03 Approve Term of the Bonds and Method of SH For For Repayment of Principal and Payment of Interests in Relation to the Public Issuance of Corporate Bonds
Page 120 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Fuyao Glass Industry Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.04 Approve Method of Issuance, Target Investors SH For For of Issuance and Arrangements of Placement for Shareholders of the Company in Relation to the Public Issuance of Corporate Bonds
10.05 Approve Guarantee in Relation to the Public SH For For Issuance of Corporate Bonds
10.06 Approve Safeguard Measures for Repayment in SH For For Relation to the Public Issuance of Corporate Bonds
10.07 Approve Underwriting Method and Listing SH For For Arrangement in Relation to the Public Issuance of Corporate Bonds
10.08 Approve Use of Proceeds in Relation to the SH For For Public Issuance of Corporate Bonds
10.09 Approve Resolution Validity Period in Relation to SH For For the Public Issuance of Corporate Bonds
11 Authorize Board to Deal with All Matters in SH For For Relation to the Public Issuance of Corporate Bonds
Galaxy Entertainment Group Ltd.
Meeting Date: 05/10/2016 Country: Hong Kong Meeting Type: Annual Ticker: 27
Primary ISIN: HK0027032686 Primary SEDOL: 6465874
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2.1 Elect Joseph Chee Ying Keung as Director Mgmt For For
2.2 Elect James Ross Ancell as Director Mgmt For For
2.3 Elect Charles Cheung Wai Bun as Director Mgmt For For
2.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
4.1 Authorize Repurchase of Issued Share Capital Mgmt For For
4.2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
Page 121 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Galaxy Entertainment Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Galp Energia, SGPS S.A.
Meeting Date: 05/05/2016 Country: Portugal Meeting Type: Annual Ticker: GALP
Primary ISIN: PTGAL0AM0009 Primary SEDOL: B1FW751
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Standalone and Consolidated Financial Mgmt For For Statements and Statutory Reports
2 Approve Allocation of Income Mgmt For For
3 Approve Discharge of Board Mgmt For For
4 Approve Discharge of Supervisory Board Mgmt For For
5 Approve Discharge of Auditors Mgmt For For
6 Approve Statement on Remuneration Policy Mgmt For For
7 Authorize Repurchase and Reissuance of Shares Mgmt For Against
Voter Rationale:
Shares should not be repurchased at a premium/discount to the market price of more than 10%.
Geely Automobile Holdings Ltd.
Meeting Date: 05/27/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 175
Primary ISIN: KYG3777B1032 Primary SEDOL: 6531827
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Ang Siu Lun, Lawrence as Director Mgmt For For
4 Elect Liu Jin Liang as Director Mgmt For For
Page 122 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Geely Automobile Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Elect Carl Peter Edmund Moriz Forster as Mgmt For For Director
6 Elect Yeung Sau Hung, Alex as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
8 Approve Grant Thornton Hong Kong Limited as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
9 Authorize Repurchase of Issued Share Capital Mgmt For For
10 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.
11 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.
GENTERA S.A.B. de C.V.
Meeting Date: 04/20/2016 Country: Mexico Meeting Type: Annual Ticker: GENTERA *
Primary ISIN: MX01GE0E0004 Primary SEDOL: BHWQZW1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of Board of Directors in Mgmt For For Compliance with Article 172 of Mexican General Companies Law
2 Approve Allocation of Income Mgmt For For
3 Approve Report on Share Repurchase Policies Mgmt For For
4 Approve Cancellation of Treasury Shares Mgmt For For
5 Approve Report on Adherence to Fiscal Mgmt For For Obligations
6 Elect or Ratify Directors, Chairmen of Audit and Mgmt For Against Corporate Practices Committees; Approve their Remuneration; Verify Independence Classification 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.
7 Elect or Ratify Chairman, Secretary and Deputy Mgmt For For Secretary of Board
Page 123 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
GENTERA S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Appoint Legal Representatives Mgmt For For
Giga Solar Materials Corp.
Meeting Date: 06/06/2016 Country: Taiwan Meeting Type: Annual Ticker: 3691
Primary ISIN: TW0003691002 Primary SEDOL: B5BTL30
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
Gold Fields Ltd
Meeting Date: 05/18/2016 Country: South Africa Meeting Type: Annual Ticker: GFI
Primary ISIN: ZAE000018123 Primary SEDOL: 6280215
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Reappoint KPMG Inc as Auditors of the Mgmt For For Company
2.1 Elect Steven Reid as Director Mgmt For For
2.2 Re-elect Gayle Wilson as Director Mgmt For For
2.3 Re-elect David Murray as Director Mgmt For For
2.4 Re-elect Donald Ncube as Director Mgmt For For
2.5 Re-elect Alan Hill as Director Mgmt For For
3.1 Re-elect Gayle Wilson as Member of the Audit Mgmt For For Committee
Page 124 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Gold Fields Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.2 Re-elect Richard Menell as Member of the Audit Mgmt For For Committee
3.3 Re-elect Donald Ncube as Member of the Audit Mgmt For For Committee
4 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
Special Resolutions Mgmt
1 Authorise Board to Issue Shares for Cash Mgmt For For
Advisory Endorsement Mgmt
1 Approve Remuneration Policy Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Continuation of Special Resolutions Mgmt
2 Approve Remuneration of Non-Executive Mgmt For For Directors
3 Approve Financial Assistance in Terms of Mgmt For Against Section 44 and 45 of the Act Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
4 Authorise Repurchase of Issued Share Capital Mgmt For Against
Voter Rationale:
Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
5 Amend 2012 Share Plan Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
6 Approve Financial Assistance to Directors and Mgmt For Against Prescribed Officers and Other Persons who may Participate in the Share Plan Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Gruma S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual Ticker: GRUMA B
Primary ISIN: MXP4948K1056 Primary SEDOL: 2392545
Page 125 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Gruma S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Present Report on Adherence to Fiscal Mgmt For For Obligations
3 Approve Allocation of Income and Dividends Mgmt For For
4 Set Aggregate Nominal Amount of Share Mgmt For For Repurchase Reserve and Present Report of Operations with Treasury Shares
5 Elect Directors, Secretary, and Alternates, Verify Mgmt For Against Independence Classification of Directors and Approve Their Remuneration; Approve Remuneration of Audit and Corporate Practices Committees
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Elect Chairmen of Audit and Corporate Practices Mgmt For Against Committees Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
8 Approve Minutes of Meeting Mgmt For For
Grupo Aeroportuario del Pacifico S.A.B. de C.V.
Meeting Date: 04/26/2016 Country: Mexico Meeting Type: Special Ticker: GAPB
Primary ISIN: MX01GA000004 Primary SEDOL: B0ZV104
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Reduction in Fixed Capital by MXN 1.75 Mgmt For For Billion; Amend Article 6 of Company's Bylaws Accordingly
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Page 126 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Aeroportuario del Pacifico S.A.B. de C.V.
Meeting Date: 04/26/2016 Country: Mexico Meeting Type: Annual Ticker: GAPB
Primary ISIN: MX01GA000004 Primary SEDOL: B0ZV104
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Reports in Compliance with Article 28, Mgmt For For Section IV of Mexican Securities Market Law
2 Approve Discharge of Board of Directors and Mgmt For For Officers
3 Approve Individual and Consolidated Financial Mgmt For For Statements and Statutory Reports, and Approval of External Auditors' Report on Financial Statements
4 Approve Allocation of Income in the Amount of Mgmt For For MXN 2.4 Billion
5 Approve Two Dividends of MXN 2.28 per Share Mgmt For For and MXN 1.79 per Share to be Distributed on or Before Aug. 31, 2016 and Dec. 31, 2016 Respectively
6 Cancel Pending Amount of MXN 850 Million of Mgmt For For Share Repurchase Approved at AGM on April 21, 2015; Set Nominal Amount of Share Repurchase of up to a Maximum of MXN 950 Million
7 Information on Election or Ratification of Four Mgmt Directors and Their Respective Alternates of Series BB Shareholders
8 Elect or Ratify Directors of Series B Mgmt Shareholders that Hold 10 Percent of Share Capital
9 Elect or Ratify Directors of Series B Mgmt For For Shareholders Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
10 Elect or Ratify Board Chairman Mgmt For For
11 Approve Remuneration of Directors for Years Mgmt For For 2015 and 2016
12 Elect or Ratify Director of Series B Shareholders Mgmt For For and Member of Nomination and Remuneration Committee
13 Elect or Ratify Chairman of Audit and Corporate Mgmt For For Practices Committee
14 Present Report Regarding Individual or Mgmt Accumulated Operations Greater Than $3 Million
Page 127 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Aeroportuario del Pacifico S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
15 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Financiero Banorte S.A.B. de C.V.
Meeting Date: 04/22/2016 Country: Mexico Meeting Type: Annual Ticker: GFNORTE O
Primary ISIN: MXP370711014 Primary SEDOL: 2421041
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For For
3.a1 Elect Carlos Hank González as Board Chairman Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3.a2 Elect Juan Antonio González Moreno as Director Mgmt For Against
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.a3 Elect David Juan Villarreal Montemayor as Mgmt For For Director
3.a4 Elect José Marcos Ramírez Miguel as Director Mgmt For For
3.a5 Elect Everardo Elizondo Almaguer as Director Mgmt For For
3.a6 Elect Carmen Patricia Armendáriz Guerra as Mgmt For For Director
3.a7 Elect Héctor Federico Reyes-Retana y Dahl as Mgmt For For Director
3.a8 Elect Eduardo Livas Cantu as Director Mgmt For For
3.a9 Elect Thomas Stanley Heather Rodriguez as Mgmt For For Director
3.a10 Elect Alfredo Elías Ayub as Director Mgmt For For
3.a11 Elect Adrián Sada Cueva as Director Mgmt For For
3.a12 Elect Olga Maria del Carmen Sánchez Cordero Mgmt For For Dávila as Director
Page 128 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Financiero Banorte S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.a13 Elect Alejandro Burillo Azcarraga as Director Mgmt For For
3.a14 Elect José Antonio Chedraui Eguía as Director Mgmt For For
3.a15 Elect Alfonso de Angoitia Noriega as Director Mgmt For For
3.a16 Elect Graciela González Moreno as Alternate Mgmt For For Director
3.a17 Elect Juan Antonio González Marcos as Mgmt For For Alternate Director
3.a18 Elect Carlos de la Isla Corry as Alternate Mgmt For For Director
3.a19 Elect Juan Carlos Braniff Hierro as Alternate Mgmt For For Director
3.a20 Elect Alberto Halabe Hamui as Alternate Mgmt For For Director
3.a21 Elect Roberto Kelleher Vales as Alternate Mgmt For For Director
3.a22 Elect Manuel Aznar Nicolín as Alternate Director Mgmt For For
3.a23 Elect Robert William Chandler Edwards as Mgmt For For Alternate Director
3.a24 Elect Ricardo Maldonado Yañez as Alternate Mgmt For For Director
3.a25 Elect Isaac Becker Kabacnik as Alternate Mgmt For For Director
3.a26 Elect José Maria Garza Treviño as Alternate Mgmt For For Director
3.a27 Elect Eduardo Alejandro Francisco Garcia Mgmt For For Villegas as Alternate Director
3.a28 Elect Javier Braun Burillo as Alternate Director Mgmt For For
3.a29 Elect Rafael Contreras Grosskelwing as Alternate Mgmt For For Director
3.a30 Elect Guadalupe Phillips Margain as Alternate Mgmt For For Director
3.b Elect Hector Avila Flores as Board Secretary Mgmt For For Who Will Not Be Part of Board
3.c Approve Directors Liability and Indemnification Mgmt For For
4 Approve Remuneration of Directors Mgmt For For
5 Elect Hector Federico Reyes-Retana y Dahl as Mgmt For For Chairman of Audit and Corporate Practices Committee
6 Approve Report on Share Repurchase; Set Mgmt For For Aggregate Nominal Amount of Share Repurchase Reserve
Page 129 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Financiero Banorte S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Financiero Banorte S.A.B. de C.V.
Meeting Date: 06/28/2016 Country: Mexico Meeting Type: Special Ticker: GFNORTE O
Primary ISIN: MXP370711014 Primary SEDOL: 2421041
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1 Approve Cash Dividends Mgmt For For
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Financiero Santander Mexico S.A.B. de C.V.
Meeting Date: 04/28/2016 Country: Mexico Meeting Type: Annual/Special Ticker: SANMEX B
Primary ISIN: MXP690491412 Primary SEDOL: 2374521
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Special Meeting for Series B Shareholders Mgmt
1 Elect or Ratify Directors Representing Series B Mgmt For Against Shareholders Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Annual and Special Meeting for Series F and B Mgmt Shareholders
Page 130 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Financiero Santander Mexico S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For For
3 Accept Chairman's and CEO's Report Mgmt For For
4 Accept Board's Opinion on President's and CEO Mgmt For For Report
5 Accept Board Report on Major Accounting and Mgmt For For Disclosure Criteria and Policies
6 Accept Report on Adherence to Fiscal Mgmt For For Obligations for Fiscal Year 2014
7 Accept Report on Operations and Activities Mgmt For For Undertaken by Board
8 Accept Board Report on Activities of Audit Mgmt For For Committee and Corporate Practices, Nominating and Remuneration Committee
9 Elect and Ratify Directors and Their Alternate Mgmt For Against Representatives of Series F and B Shareholders; Fix Their Remuneration Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Approve Cash Dividends Mgmt For For
11 Amend Bylaws Mgmt For Against
Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo GICSA S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual Ticker: GICSA B
Primary ISIN: MX01GI020004 Primary SEDOL: BYYTST5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Approve CEO's Report Including External Mgmt For For Auditor's Report and Board's Opinion on CEO's Report
1.2 Approve Board Report on Principal Accounting Mgmt For For Policies and Criteria
Page 131 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo GICSA S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.3 Approve Report on Activities and Operations Mgmt For For Undertaken by Board
1.4 Approve Individual and Consolidated Financial Mgmt For For Statements
1.5 Approve Audit and Corporate Practices Mgmt For For Committee's Report
1.6 Approve Report on Completion of Process of Mgmt For For Corporate Restructuring of Company and Post-Split Agreement
2 Approve Allocation of Income Mgmt For For
3 Elect or Ratify Directors, Members of Audit and Mgmt For Against Corporate Practices Committee and Company Secretary; Ratify Directors and Members of Audit and Corporate Practices Committee
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
4 Approve Remuneration of Directors, Members of Mgmt For Against Audit and Corporate Practices Committee and Company Secretary Voter Rationale:
Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
5 Set Maximum Amount of Share Repurchase Mgmt For For Reserve; Present Report on Share Repurchase
6 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Mexico S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual Ticker: GMEXICO B
Primary ISIN: MXP370841019 Primary SEDOL: 2643674
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports
2 Present Report on Compliance with Fiscal Mgmt For For Obligations
3 Approve Allocation of Income Mgmt For For
Page 132 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Mexico S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Policy Related to Acquisition of Own Mgmt For For Shares for 2015; Set Aggregate Nominal Amount of Share Repurchase Reserve for 2016
5 Approve Discharge of Board of Directors, Mgmt For For Executive Chairman and Board Committees
6 Elect or Ratify Directors; Verify Independence of Mgmt For Against Board Members; Elect or Ratify Chairmen and Members of Board Committees Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Approve Remuneration of Directors and Mgmt For For Members of Board Committees
8 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Televisa S.A.B.
Meeting Date: 04/28/2016 Country: Mexico Meeting Type: Annual/Special Ticker: TLEVISA CPO
Primary ISIN: MXP4987V1378 Primary SEDOL: 2380108
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Meeting for Series L Shareholders Mgmt
1 Elect or Ratify Directors Representing Series L Mgmt For Against Shareholders Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Meeting for Series D Shareholders Mgmt
1 Elect or Ratify Directors Representing Series D Mgmt For Against Shareholders Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 133 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Grupo Televisa S.A.B.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Meeting for Series A and B Shares and Holders Mgmt of CPOs Who are Mexican Nationals Have Voting Rights
1 Approve Financial Statements and Statutory Mgmt For For Reports as Required by Article 28 of Mexican Securities Law, Approve Financial Statements; Approve Discharge of Directors, CEO and Board Committees
2 Present Report on Compliance with Fiscal Mgmt For For Obligations
3 Approve Allocation of Income Mgmt For For
4 Set Aggregate Nominal Amount of Share Mgmt For For Repurchase Reserve and Receive Report on Policies and Board's Decisions on Share Repurchase and Sale of Treasury Shares
5 Elect or Ratify Members of Board, Secretary and Mgmt For Against Other Officers Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Elect or Ratify Members of Executive Committee Mgmt For For
7 Elect or Ratify Chairman of Audit Committee Mgmt For Against and Corporate Practices Committee Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Approve Remuneration of Board Members, Mgmt For For Executive, Audit and Corporate Practices Committees, and Secretary
9 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 05/20/2016 Country: China Meeting Type: Special Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Page 134 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1a Elect Zhang Lin as Director and Authorize Board Mgmt For For to Fix Her Remuneration
1b Elect Liang Yingmei as Supervisor and Authorize Mgmt For For Board to Fix Her Remuneration
2 Approve Public Issue of the Domestic Mgmt For For Renewable Corporate Bonds in the PRC to Qualified Investors
3 Authorize Board to Deal to Handle All Matters Mgmt For For Regarding the Domestic Renewable Corporate Bonds
4 Approve Measures to be implemented by the Mgmt For For Company to Repay the Domestic Renewable Corporate Bonds
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 06/27/2016 Country: China Meeting Type: Annual Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audited Financial Statements and Mgmt For For Auditors' Report
4 Approve Final Dividend Mgmt For For
5 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
6 Authorize the Board to Decide on Matters Mgmt For For Relating to the Payment of Interim Dividend
7 Approve BDO China Shu Lun Pan Certified Mgmt For For Public Accountants LLP as Domestic Auditor and 2016 Reporting Accountant in Relation to the Issuance of A Shares and Authorize Board to Fix Their Remuneration
Page 135 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve Extension of Guarantees of Up to RMB Mgmt For Against 40 Billion Voter Rationale: A vote AGAINST these resolutions is warranted as the company has failed to disclose pertinent details regarding these proposals.
9 Approve the Guarantees Extended in 2015 Mgmt For Against
Voter Rationale: A vote AGAINST these resolutions is warranted as the company has failed to disclose pertinent details regarding these proposals.
10 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.
11 Approve Validity Period Extension of Initial Mgmt For For Public Offering and Listing of A Shares
12 Approve Validity Period Extension of Mgmt For For Authorization to the Board to Handle All Matters in Relation to Initial Public Offering and Listing of A Shares
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 06/27/2016 Country: China Meeting Type: Special Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Approve Validity Period Extension of Initial Mgmt For For Public Offering and Listing of A Shares
2 Approve Validity Period Extension of Mgmt For For Authorization to the Board to Handle All Matters in Relation to Initial Public Offering and Listing of A Shares
Haier Electronics Group Co Ltd
Meeting Date: 06/21/2016 Country: Bermuda Meeting Type: Annual Ticker: 1169
Primary ISIN: BMG423131256 Primary SEDOL: B1TL3R8
Page 136 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Haier Electronics Group Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2A1 Elect Zhou Yun Jie as Director Mgmt For For
2A2 Elect Liang Hai Shan as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2A3 Elect Wang Han Hua as Director Mgmt For For
2A4 Elect Li Hua Gang as Alternate Director to Liang Mgmt For Against Hai Shan Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2B 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
4 Approve Final Dividend Mgmt For For
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
8 Approve Allotment and Issuance of Additional Mgmt For Against Shares Under the Restricted Share Award Scheme Voter Rationale: A vote AGAINST this resolution is warranted given the directors eligible to receive awards under the scheme are involved in the administration of the scheme.
Hana Microelectronics PCL
Meeting Date: 04/29/2016 Country: Thailand Meeting Type: Annual Ticker: HANA
Primary ISIN: TH0324B10Z01 Primary SEDOL: B42GPD1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Company's Performance Mgmt For For
Page 137 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hana Microelectronics PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Accept Financial Statements Mgmt For For
4 Approve Dividend Payment Mgmt For For
5.1 Elect Winson Moong Chu Hui as Director Mgmt For For
5.2 Elect Terrence Philip Weir as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Hengan International Group Co. Ltd.
Meeting Date: 05/18/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 1044
Primary ISIN: KYG4402L1510 Primary SEDOL: 6136233
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Hui Ching Chi 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.
4 Elect Ada Ying Kay Wong as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5 Elect Wang Ming Fu as Director Mgmt For For
6 Elect Ho Kwai Ching Mark as Director Mgmt For For
7 Elect Zhou Fang Sheng as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
8 Authorize Board to Fix Remuneration of Mgmt For For Directors
Page 138 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hengan International Group Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
10 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.
11 Authorize Repurchase of Issued Share Capital Mgmt For For
12 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.
13 Approve Special Dividend by Way of a Mgmt For For Distribution in Specie
Hermes Microvision Inc
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 3658
Primary ISIN: TW0003658001 Primary SEDOL: B3WH021
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
5 Transact Other Business (Non-Voting) Mgmt
Highwealth Construction Corp
Meeting Date: 06/13/2016 Country: Taiwan Meeting Type: Annual Ticker: 2542
Primary ISIN: TW0002542008 Primary SEDOL: 6154075
Page 139 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Highwealth Construction Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
Hikma Pharmaceuticals plc
Meeting Date: 05/12/2016 Country: United Kingdom Meeting Type: Annual Ticker: HIK
Primary ISIN: GB00B0LCW083 Primary SEDOL: B0LCW08
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Appoint PricewaterhouseCoopers LLP as Mgmt For For Auditors
4 Authorise the Audit Committee to Fix Mgmt For For Remuneration of Auditors
5 Elect Dr Jochen Gann as Director Mgmt For For
6 Elect John Castellani as Director Mgmt For For
7 Re-elect Said Darwazah 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.
8 Re-elect Mazen Darwazah as Director Mgmt For For
9 Re-elect Robert Pickering as Director Mgmt For For
10 Re-elect Ali Al-Husry as Director Mgmt For For
11 Re-elect Michael Ashton as Director Mgmt For For
12 Re-elect Dr Ronald Goode as Director Mgmt For For
13 Re-elect Patrick Butler as Director Mgmt For For
14 Re-elect Dr Pamela Kirby as Director Mgmt For For
Page 140 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hikma Pharmaceuticals plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
15 Approve Remuneration Report Mgmt For Against
Voter Rationale: With regard to the Executive Incentive Plan, the quality of disclosure around some targets, and the stretch of others, is a concern. Given the unconventional structure of this scheme, the disclosure and challenge of targets are of particular importance. We encourage the company to provide increased disclosure with regard to the targets and ensure an appropriate level of stretch for the size of award.
16 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
17 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
18 Authorise Market Purchase of Ordinary Shares Mgmt For For
19 Authorise the Company to Call General Meeting Mgmt For For with Two Weeks' Notice
Hindustan Unilever Limited.
Meeting Date: 06/30/2016 Country: India Meeting Type: Annual Ticker: 500696
Primary ISIN: INE030A01027 Primary SEDOL: 6261674
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Interim Dividend and Final Dividend Mgmt For For
3 Reelect Harish Manwani 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.
4 Reelect Pradeep Banerjee as Director Mgmt For For
5 Reelect P.B. Balaji as Director Mgmt For For
6 Approve B S R & Co. LLP, as Statutory Auditors Mgmt For Against and Authorize Board to Fix Their Remuneration
Voter Rationale: Policy Rationale:Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
7 Approve Remuneration of Cost Auditors Mgmt For Against
Voter Rationale: Policy Rationale:Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
Page 141 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hindustan Unilever Limited.
Meeting Date: 06/30/2016 Country: India Meeting Type: Court Ticker: 500696
Primary ISIN: INE030A01027 Primary SEDOL: 6261674
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Court-Ordered Meeting for Shareholders Mgmt
1 Approve Scheme of Arrangement Mgmt For For
Hindustan Zinc Ltd
Meeting Date: 06/28/2016 Country: India Meeting Type: Annual Ticker: 500188
Primary ISIN: INE267A01025 Primary SEDOL: 6139726
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividend Mgmt For For
3 Reelect Sujuta Prasad as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
4 Approve S.R. Batliboi & Co. LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Approve Remuneration of Cost Auditors Mgmt For For
6 Elect Sudhir Kamar as Independent Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors.
7 Approve Extension of Tenure of Akhilesh Joshi Mgmt For For as Executive Director
8 Approve Appointment and Remuneration of Mgmt For For Sunil Duggal as CEO & Executive Director
Page 142 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hiwin Technologies Corp.
Meeting Date: 06/28/2016 Country: Taiwan Meeting Type: Annual Ticker: 2049
Primary ISIN: TW0002049004 Primary SEDOL: B1YMYT5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
6 Amend Procedures for Lending Funds to Other Mgmt For For Parties
7 Amend Procedures for Endorsement and Mgmt For For Guarantees
8 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
9 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
10.1 Elect ZHUO YONG-CAI with Shareholder No. 2 Mgmt For For as Non-Independent Director
10.2 Elect CHEN JIN-CAI with Shareholder No. 11 as Mgmt For For Non-Independent Director
10.3 Elect LI XUN-QIN with Shareholder No. 9 as Mgmt For For Non-Independent Director
10.4 Elect CAI HUI-QING with Shareholder No. 3 as Mgmt For For Non-Independent Director
10.5 Elect ZHUO WEN-HENG with Shareholder No. 24 Mgmt For For as Non-Independent Director
10.6 Elect a Representative of SAN-XING Mgmt For For INVESTMENT CO LTD with Shareholder No. 1711 as Non-Independent Director
10.7 Elect JIANG ZHENG-HAN with ID No. Mgmt For For F10257XXXX as Independent Director
10.8 Elect CHEN ZE-YU with ID No. K10001XXXX as Mgmt For For Independent Director
Page 143 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hiwin Technologies Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.9 Elect CHEN QING-HUI with ID No. A20168XXXX Mgmt For For as Independent Director
11 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director ZHUO YONG-CAI
12 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director CHEN JIN-CAI
13 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director LI XUN-QIN
14 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director CAI HUI-QING
15 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director ZHUO WEN-HENG
Hon Hai Precision Industry Co., Ltd.
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 2317
Primary ISIN: TW0002317005 Primary SEDOL: 6438564
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
6 Amend Procedures for Lending Funds to Other Mgmt For For Parties
7 Amend Procedures for Endorsement and Mgmt For For Guarantees
8 Amend Trading Procedures Governing Mgmt For For Derivatives Products
9 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
Page 144 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hon Hai Precision Industry Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
10.1 Elect Gou, Tai-ming with Shareholder No. 1 as Mgmt For For Non-Independent Director
10.2 Elect Lu, Fang-ming, Representing Hon Jin Mgmt For For International Investment Co., Ltd. with Shareholder No. 57132 as Independent Director
10.3 Elect Tai, Jeng-wu, Representing Hon Chiao Mgmt For For International Investment Co., Ltd. with Shareholder No. 16662 as Non-Independent Director
10.4 Elect Chen, Jen-gwo, Representing Hon Chiao Mgmt For For International Investment Co., Ltd with Shareholder No. 16662 as Non-Independent Director
10.5 Elect Huang, Qing-yuan with ID No. Mgmt For For R101807XXX as Non-Independent Director
10.6 Elect Sung, Hsueh-jen with ID No. R102960XXX Mgmt For For as Non-Independent Director
10.7 Elect Fu, Li-chen with ID No. A120777XXX as Mgmt For For Independent Director
10.8 Elect Lee, Kai-fu with ID No. F121958XXX as Mgmt For For Independent Director
10.9 Elect Chan, Chi-shean with ID No. N101117XXX Mgmt For For as Independent Director
11 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Hota Industrial Manufacturing Co., Ltd.
Meeting Date: 06/23/2016 Country: Taiwan Meeting Type: Annual Ticker: 1536
Primary ISIN: TW0001536001 Primary SEDOL: 6246251
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
Page 145 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hota Industrial Manufacturing Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Other Business Mgmt None Against
Voter Rationale:
Any Other Business should not be a voting item.
Hotai Motor Co Ltd
Meeting Date: 06/21/2016 Country: Taiwan Meeting Type: Annual Ticker: 2207
Primary ISIN: TW0002207008 Primary SEDOL: 6417165
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect HUANG NAN-KUANG, Representing Mgmt For Against CHUN-YUNG INVESTMENT CO LTD with Shareholder No. 74953 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect LIN LI-HUA, Representing CHUN-YUNG Mgmt For Against INVESTMENT CO LTD with Shareholder No. 74953 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect HUANG CHIH-CHENG, Representing Mgmt For Against CHUN-YUNG INVESTMENT CO LTD with Shareholder No. 74953 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.4 Elect HUANG WEN-JUI, Representing Mgmt For Against CHUN-YUNG INVESTMENT CO LTD with Shareholder No. 74953 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 146 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hotai Motor Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.5 Elect SU YANN-HUEI, Representing Mgmt For Against JIN-YUAN-SHAN INVESTMENT CO LTD with Shareholder No.135 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect SU YI-CHUNG, Representing Mgmt For Against JIN-YUAN-SHAN INVESTMENT CO LTD with Shareholder No.135 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect SU CHWEN-SHING, Representing Mgmt For Against JIN-YUAN-SHAN INVESTMENT CO LTD with Shareholder No.135 as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.8 Elect SU MAICK, Representing JIN-YUAN-SHAN Mgmt For Against INVESTMENT CO LTD with Shareholder No.135 as Non-Independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.9 Elect KATSUHITO OHNO, Representing TOYOTA Mgmt For Against MOTOR CORPORATION with Shareholder No.1692 as Non-Independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.10 Elect CHANG SHIH-YIENG, Representing Mgmt For Against GUI-LONG INVESTMENT CO LTD with Shareholder No. 55051,as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.11 Elect KO JUNN-YUAN,Representing YUAN-TUO Mgmt For Against INVESTMENT CO LTD with Shareholder No.136 as Non-Independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.12 Elect CHEN, CHEI-CHEN with Shareholder Mgmt For For No.710 as Independent Director
4.13 Elect SU, CHIN-HUO with ID No.S101678XXX as Mgmt For For Independent Director
4.14 Elect WU, SHIH-HAO with ID No.A110779XXX Mgmt For For as Independent Director
Page 147 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hotai Motor Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
6 Other Business Mgmt None Against
Voter Rationale: Any Other Business should not be a voting item.
Hu Lane Associate Inc.
Meeting Date: 06/27/2016 Country: Taiwan Meeting Type: Annual Ticker: 6279
Primary ISIN: TW0006279003 Primary SEDOL: 6708698
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
Hua Hong Semiconductor Ltd
Meeting Date: 05/11/2016 Country: Hong Kong Meeting Type: Annual Ticker: 1347
Primary ISIN: HK0000218211 Primary SEDOL: BRB3857
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Yu Wang as Director Mgmt For For
4 Elect Stephen Tso Tung Chang as Director Mgmt For For
5 Elect Long Fei Ye as Director Mgmt For For
Page 148 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hua Hong Semiconductor Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Elect Suxin Zhang as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
8 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
9 Authorize Repurchase Issued Share Capital Mgmt For For
10 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.
11 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.
Huaneng Power International, Inc.
Meeting Date: 06/23/2016 Country: China Meeting Type: Annual Ticker: 902
Primary ISIN: CNE1000006Z4 Primary SEDOL: 6099671
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Work Report of Board of Directors Mgmt For For
2 Approve 2015 Work Report of Supervisory Mgmt For For Committee
3 Approve 2015 Audited Financial Statements Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve KPMG and KPMG Huazhen LLP as the Mgmt For Against International and PRC Auditors Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Elect Xu Mengzhou as Director Mgmt For For
7 Amend Articles of Association Mgmt For For
Page 149 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Huaneng Power International, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 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.
9 Approve Issuance of Domestic and Foreign SH None For Perpetual Debts Under the General Mandate
Hypermarcas S.A.
Meeting Date: 04/14/2016 Country: Brazil Meeting Type: Annual Ticker: HYPE3
Primary ISIN: BRHYPEACNOR0 Primary SEDOL: B2QY968
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For For
3 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Hypermarcas S.A.
Meeting Date: 04/14/2016 Country: Brazil Meeting Type: Special Ticker: HYPE3
Primary ISIN: BRHYPEACNOR0 Primary SEDOL: B2QY968
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 5 to Reflect Changes in Capital Mgmt For For
2 Amend Articles 24 and 28 Mgmt For For
3 Amend Article 33 Mgmt For For
4 Consolidate Bylaws Mgmt For For
Page 150 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Hypermarcas S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Re-Ratify Remuneration of Company's Mgmt For For Management for Fiscal Years 2012, 2013, 2014 and 2015
6 Approve Restricted Stock Plan Mgmt For Against
Voter Rationale: We are unable to support this plan given the lack of performance conditions associated with awards.
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Imperial Holdings Ltd
Meeting Date: 04/29/2016 Country: South Africa Meeting Type: Special Ticker: IPL
Primary ISIN: ZAE000067211 Primary SEDOL: B095WZ4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Special Resolution Mgmt
1 Approve Issue of Ordinary Shares to Wooddale Mgmt For For in Terms of Section 41(1)(b) of the Companies Act
Ordinary Resolution Mgmt
1 Authorise Ratification of Approved Resolution Mgmt For For
Industrial and Commercial Bank of China Limited
Meeting Date: 06/24/2016 Country: China Meeting Type: Annual Ticker: 1398
Primary ISIN: CNE1000003G1 Primary SEDOL: B1G1QD8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Work Report of the Board of Mgmt For For Directors
2 Approve 2015 Work Report of the Board of Mgmt For For Supervisors
3 Elect Yi Huiman as Director Mgmt For For
Page 151 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Industrial and Commercial Bank of China Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Elect Shen Si as Director Mgmt For For
5 Elect Zhang Wei as Supervisor Mgmt For For
6 Elect Shen Bingxi as Supervisor Mgmt For For
7 Approve 2015 Audited Accounts Mgmt For For
8 Approve 2015 Profit Distribution Plan Mgmt For For
9 Approve 2016 Fixed Asset Investment Budget Mgmt For For
10 Approve Proposal in Respect of the Issue of Mgmt For For Eligible Tier-2 Capital Instruments with Write-Down Feature of up to 88 Billion
11 Approve KPMG Huazhen (Special General Mgmt For For Partnership) as the Domestic External Auditor of the Bank and KPMG as the International External Auditor
Industrias Bachoco S.A.B. de C.V.
Meeting Date: 04/27/2016 Country: Mexico Meeting Type: Annual Ticker: IBA
Primary ISIN: MX01BA1D0003 Primary SEDOL: B1FJ6T9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Present Report on Adherence to Fiscal Mgmt For For Obligations
3 Approve Allocation of Income and Dividends Mgmt For For
4 Set Maximum Amount of Share Repurchase Mgmt For For Reserve
5 Elect or Ratify Directors and Secretary; Verify Mgmt For Against Independence Classification of Board Members
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.
6 Elect or Ratify Chairman and Members of Audit Mgmt For Against and Corporate Practices Committee Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 152 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Industrias Bachoco S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Approve Remuneration of Directors, Board Mgmt For For Secretary, and Audit and Corporate Practices Committee Chairman and Members
8 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
9 Approve Minutes of Previous Meeting Mgmt For For
Infosys Ltd.
Meeting Date: 04/03/2016 Country: India Meeting Type: Special Ticker: INFY
Primary ISIN: INE009A01021 Primary SEDOL: 6205122
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Meeting for ADR Holders Mgmt
1 Approve 2015 Stock Incentive Compensation Mgmt For Against Plan (Plan) and Grant of Incentive to Eligible Employees Under the Plan Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
2 Approve Grant of Incentives to Eligible Mgmt For Against Employees of the Company's Subsidiaries Under the Plan Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
3 Elect J.S. Lehman as Independent Director Mgmt For Against
4 Elect P. Kumar-Sinha as Independent Director Mgmt For For
5 Approve Reappointment and Remuneration of V. Mgmt For For Sikka as CEO & Managing Director
Infosys Ltd.
Meeting Date: 06/18/2016 Country: India Meeting Type: Annual Ticker: INFY
Primary ISIN: INE009A01021 Primary SEDOL: 6205122
Page 153 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Infosys Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements Mgmt For For
2 Approve Dividend Payment Mgmt For For
3 Elect Vishal Sikka as Director Mgmt For For
4 Approve B S R & Co. LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
Infosys Ltd.
Meeting Date: 06/18/2016 Country: India Meeting Type: Annual Ticker: INFY
Primary ISIN: INE009A01021 Primary SEDOL: 6205122
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements Mgmt For For
2 Approve Dividend Payment Mgmt For For
3 Elect Vishal Sikka as Director Mgmt For For
4 Approve B S R & Co. LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
Infraestructura Energetica Nova S.A.B. de C.V.
Meeting Date: 04/29/2016 Country: Mexico Meeting Type: Annual Ticker: IENOVA *
Primary ISIN: MX01IE060002 Primary SEDOL: B84XBP2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Reports Mgmt For For and Allocation of Income
Page 154 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Infraestructura Energetica Nova S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Elect or Ratify Principal and Alternate Directors Mgmt For Against and Members of Audit and Corporate Practices Committee; Verify Independence Classification of Board Members
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3 Approve Remuneration of Principal and Mgmt For For Alternate Directors, Members of Board Committees and Company Secretary
4 Appoint Legal Representatives Mgmt For For
International Branding Marketing Inc
Meeting Date: 05/31/2016 Country: Taiwan Meeting Type: Annual Ticker: 6238
Primary ISIN: TW0006238009 Primary SEDOL: 6603878
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
5.1 Elect LU HSUEH SHIH as Independent Director Mgmt For For
5.2 Elect CHEN MING HSIEN as Independent Mgmt For For Director
5.3 Elect Non-independent Director No. 1 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5.4 Elect Non-independent Director No. 2 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Page 155 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
International Branding Marketing Inc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Non-independent Director No. 3 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5.6 Elect Supervisor No. 1 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5.7 Elect Supervisor No. 2 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5.8 Elect Supervisor No. 3 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
6 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
International Container Terminal Services, Inc.
Meeting Date: 04/21/2016 Country: Philippines Meeting Type: Annual Ticker: ICT
Primary ISIN: PHY411571011 Primary SEDOL: 6455819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Call to Order Mgmt For For
2 Determination of Existence of Quorum Mgmt For For
3 Approve Minutes of the Annual Stockholders' Mgmt For For Meeting Held on April 16, 2015
4 Presentation of Chairman's Report Mgmt For For
5 Approve the Chairman's Report and the 2015 Mgmt For For Audited Financial Statements
6 Ratify the Acts, Contracts, Investments, and Mgmt For For Resolutions of the Board of Directors and Management Since the Last Annual Stockholders' Meeting
Elect 7 Directors by Cumulative Voting Mgmt
Page 156 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
International Container Terminal Services, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.1 Elect Enrique K. Razon, Jr. as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.2 Elect Jon Ramon Aboitiz as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.3 Elect Octavio Victor R. Espiritu as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.4 Elect Joseph R. Higdon as Director Mgmt For For
7.5 Elect Jose C. Ibazeta as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.6 Elect Stephen A. Paradies as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, 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. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.7 Elect Andres Soriano III as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
8 Appoint External Auditors Mgmt For For
9 Approve Other Matters Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
10 Adjournment Mgmt For For
Itau Unibanco Holding SA
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Annual Ticker: ITUB4
Primary ISIN: BRITUBACNPR1 Primary SEDOL: B037HR3
Page 157 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Itau Unibanco Holding SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1.1 Elect Carlos Roberto de Albuquerque Sa as SH None For Fiscal Council Member Nominated by Preferred Shareholders
1.2 Elect Eduardo Azevedo do Valle as Alternate SH None For Fiscal Council Member Nominated by Preferred Shareholders
Itausa, Investimentos Itau S.A.
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: ITSA4
Primary ISIN: BRITSAACNPR7 Primary SEDOL: 2458771
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1.1 Elect Jose Maria Rabelo as Fiscal Council SH None For Member Nominated by Preferred Shareholders
1.2 Elect Isaac Berensztejn as Alternate Fiscal SH None For Council Member Nominated by Preferred Shareholders
ITC Ltd.
Meeting Date: 06/27/2016 Country: India Meeting Type: Special Ticker: ITC
Primary ISIN: INE154A01025 Primary SEDOL: B0JGGP5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Increase Authorized Share Capital Mgmt For For
Page 158 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
ITC Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Amend Articles of Association to Reflect Mgmt For For Changes in Capital
3 Approve Bonus Issue Mgmt For For
JBS S.A.
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: JBSS3
Primary ISIN: BRJBSSACNOR8 Primary SEDOL: B1V74X7
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members and Alternates Mgmt For For
3.1 Elect Fiscal Council Member Appointed by SH None Do Not Vote Minority Shareholder Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
4 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members
JBS S.A.
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Special Ticker: JBSS3
Primary ISIN: BRJBSSACNOR8 Primary SEDOL: B1V74X7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Agreement to Absorb JBS Holding Mgmt For For Internacional S.A., Tannery do Brasil S.A., Paranoa Alimentos Ltda., FG Holding III Ltda., Brazservice Wet Leather S.A., JBS Confinamento Ltda. and FG Holding IV S.A.
Page 159 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
JBS S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Ratify Apsis Consultoria Empresarial Ltda. as the Mgmt For For Independent Firm to Appraise Proposed Transactions
3 Approve Independent Firm's Appraisals Mgmt For For
4 Approve Absorption of JBS Holding Mgmt For For Internacional S.A., Tannery do Brasil S.A., Paranoa Alimentos Ltda., FG Holding III Ltda., Brazservice Wet Leather S.A., JBS Confinamento Ltda. and FG Holding IV S.A.
5 Ratify Remuneration of Company's Management Mgmt For Against for Fiscal Year 2012 Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
6 Amend Articles 5 and 6 to Reflect Changes in Mgmt For For Capital
7 Amend Articles 3 and 19 Mgmt For For
8 Consolidate Bylaws Mgmt For For
Jeronimo Martins SGPS S.A
Meeting Date: 04/14/2016 Country: Portugal Meeting Type: Annual Ticker: JMT
Primary ISIN: PTJMT0AE0001 Primary SEDOL: B1Y1SQ7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Individual Financial Statements and Mgmt For For Statutory Reports
2 Approve Allocation of Income Mgmt For For
3 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports
4 Approve Discharge of Management and Mgmt For For Supervisory Boards
5 Approve Statement on Remuneration Policy Mgmt For Against
Voter Rationale: Significant salary increases should be linked to material changes in the business or in the role and responsibilities of executive directors.
6 Elect Corporate Bodies Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
Page 160 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Jeronimo Martins SGPS S.A
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Ratify Auditor Mgmt For For
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
8 Elect Remuneration Committee Mgmt For For
9 Amend Retirement Plan Mgmt For Against
Voter Rationale: We voted against because the proposed removal of the 20-percent limit to pensionable salary may lead to the settlement of excessive pension contributions to executive directors. We urge the company to set a specific limit and provide justification of its appropriateness.
10 Approve Remuneration of Remuneration SH None For Committee Members
Jiangsu Expressway Co. Ltd.
Meeting Date: 06/02/2016 Country: China Meeting Type: Annual Ticker: 177
Primary ISIN: CNE1000003J5 Primary SEDOL: 6005504
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audit Report Mgmt For For
4 Approve 2015 Final Account Report Mgmt For For
5 Approve 2016 Financial Budget Report Mgmt For For
6 Approve 2015 Final Profit Distribution Plan and Mgmt For For Final Dividend
7 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as Auditors and Authorize Board to Fix Their Remuneration Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
8 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Page 161 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Jiangsu Expressway Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve Issuance of Ultra-short-term Financial Mgmt For For Bills
ELECT 1 INDEPENDENT NON-EXECUTIVE Mgmt DIRECTOR VIA CUMULATIVE VOTING
10 Elect Lin Hui as Director Mgmt For For
Kenda Rubber Industrial Co.
Meeting Date: 06/14/2016 Country: Taiwan Meeting Type: Annual Ticker: 2106
Primary ISIN: TW0002106002 Primary SEDOL: 6489636
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Approve Amendments to Procedures Governing Mgmt For For the Acquisition or Disposal of Assets
6 Transact Other Business (Non-Voting) Mgmt
KGHM Polska Miedz S.A.
Meeting Date: 06/28/2016 Country: Poland Meeting Type: Annual Ticker: KGH
Primary ISIN: PLKGHM000017 Primary SEDOL: 5263251
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
Page 162 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
KGHM Polska Miedz S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Receive Management Board Report on Mgmt Company's Operations and Financial Statements for Fiscal 2015
6 Receive Management Board Proposal on Mgmt Treatment of Net Loss
7 Receive Management Board Proposal on Mgmt Dividends
8 Receive Supervisory Board Report on Board's Mgmt Review of Management Board Report on Company's Operations, Financial Statements, and Management Board Proposal on Allocation of Income
9.1 Receive Supervisory Board Report on Mgmt Company's Standing for Fiscal 2015
9.2 Receive Supervisory Board Report on Board's Mgmt Work for Fiscal 2015
10.1 Approve Management Board Report on Mgmt For For Company's Operations for Fiscal 2015
10.2 Approve Financial Statements for Fiscal 2015 Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
10.3 Approve Treatment of Net Loss Mgmt For For
10.4 Approve Dividends of PLN 1.50 per Share Mgmt For For
11.1a Approve Discharge of Marcin Chmielewski Mgmt For For (Management Board Member)
11.1b Approve Discharge of Jacek Kardela Mgmt For For (Management Board Member)
11.1c Approve Discharge of Wojciech Kedzia Mgmt For For (Management Board Member)
11.1d Approve Discharge of Miroslaw Laskowski Mgmt For For (Management Board Member)
11.1e Approve Discharge of Jaroslaw Romanowski Mgmt For For (Management Board Member)
11.1f Approve Discharge of Herbert Wirth Mgmt For For (Management Board Member)
11.2a Approve Discharge of Tomasz Cyran Mgmt For For (Supervisory Board Member)
11.2b Approve Discharge of Jozef Czyczerski Mgmt For For (Supervisory Board Member)
11.2c Approve Discharge of Boguslaw Fiedor Mgmt For For (Supervisory Board Member)
11.2d Approve Discharge of Leszek Hajdacki Mgmt For For (Supervisory Board Member)
Page 163 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
KGHM Polska Miedz S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.2e Approve Discharge of Andrzej Kidyba Mgmt For For (Supervisory Board Member)
11.2f Approve Discharge of Marcin Moryn Mgmt For For (Supervisory Board Member)
11.2g Approve Discharge of Jacek Poswiata Mgmt For For (Supervisory Board Member)
11.2h Approve Discharge of Boguslaw Szarek Mgmt For For (Supervisory Board Member)
11.2i Approve Discharge of Barbara Mgmt For For Wertelecka-Kwater (Supervisory Board Member)
12 Receive Management Board Report on Group's Mgmt Operations and Consolidated Financial Statements for Fiscal 2015
13 Receive Supervisory Board Report on Board's Mgmt Review of Management Board Report on Group's Operations and Consolidated Financial Statements
14.1 Approve Management Board Report on Group's Mgmt For For Operations for Fiscal 2015
14.2 Approve Consolidated Financial Statements for Mgmt For For Fiscal 2015
15 Receive Management Board Proposal on Mgmt Disclosure Policy
16 Approve Management Board Proposal on Mgmt For For Disclosure Policy
17 Close Meeting Mgmt
King's Town Bank
Meeting Date: 05/18/2016 Country: Taiwan Meeting Type: Annual Ticker: 2809
Primary ISIN: TW0002809001 Primary SEDOL: 6575159
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan for Profit Distribution Mgmt For For
4 Transact Other Business (Non-Voting) Mgmt
Page 164 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Koc Holding AS
Meeting Date: 04/05/2016 Country: Turkey Meeting Type: Annual Ticker: KCHOL
Primary ISIN: TRAKCHOL91Q8 Primary SEDOL: B03MVJ8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Amend Articles Re: Board of Directors Mgmt For For
8 Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
9 Approve Remuneration Policy Mgmt For For
10 Approve Director Remuneration Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
11 Ratify External Auditors Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
12 Receive Information on Charitable Donations for Mgmt For Against 2015 and Approve Upper Limit of the Donations for 2016 Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13 Receive Information on Guarantees, Pledges Mgmt and Mortgages provided by the Company to Third Parties
14 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
15 Wishes Mgmt
Page 165 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Komercni Banka A.S.
Meeting Date: 04/22/2016 Country: Czech Republic Meeting Type: Annual Ticker: KOMB
Primary ISIN: CZ0008019106 Primary SEDOL: 4519449
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Management Board Report on Mgmt For For Company's Operations and State of Its Assets in Fiscal 2015
2 Receive Report on Act Providing for Business Mgmt Undertaking in the Capital Market
3 Receive Management Board Report on Related Mgmt Entities
4 Receive Financial Statements, Consolidated Mgmt Financial Statements, and Management Board Proposal on Allocation of Income for Fiscal 2015
5 Receive Supervisory Board Report on Financial Mgmt Statements, Management Board Proposal on Allocation of Income, Consolidated Financial Statements, Board's Work, and Company's Standing in Fiscal 2015
6 Receive Audit Committee Report for Fiscal 2015 Mgmt
7 Approve Financial Statements for Fiscal 2015 Mgmt For For
8 Approve Allocation of Income and Dividends of Mgmt For For CZK 310 for Fiscal 2015
9 Approve Consolidated Financial Statements for Mgmt For For Fiscal 2015
10 Elect Borivoj Kacena as Supervisory Board Mgmt For For Member
11 Elect Borivoj Kacena as Audit Committee Mgmt For For Member
12 Approve Share Repurchase Program Mgmt For For
13 Ratify Deloitte Audit s.r.o. as Auditor for Fiscal Mgmt For Against 2016 Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
14 Amend Articles of Association Mgmt For For
15 Fix Maximum Variable Compensation Ratio Mgmt For For
Page 166 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Korea Aerospace Industries Co. Ltd.
Meeting Date: 05/04/2016 Country: South Korea Meeting Type: Special Ticker: A047810
Primary ISIN: KR7047810007 Primary SEDOL: B3N3363
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Ha Seong-yong as Inside 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.
KWG Property Holding Ltd.
Meeting Date: 06/03/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 1813
Primary ISIN: KYG532241042 Primary SEDOL: B1YBF00
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Kong Jian Min as Director and Authorize Mgmt For For Board to Fix His Remuneration Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
4 Elect Lee Ka Sze, Carmelo as Director and Mgmt For Against Authorize Board to Fix His Remuneration Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
5 Elect Tam Chun Fai as Director and Authorize Mgmt For Against Board to Fix His Remuneration Voter Rationale:
Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6 Elect Li Bin Hai as Director and Authorize Board Mgmt For Against to Fix His Remuneration Voter Rationale:
Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
Page 167 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
KWG Property Holding Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Approve Ernst & Young Auditors and Authorize Mgmt For For Board to Fix Their Remuneration
8 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.
9 Authorize Repurchase of Issued Share Capital Mgmt For For
10 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.
Largan Precision Co., Ltd.
Meeting Date: 06/08/2016 Country: Taiwan Meeting Type: Annual Ticker: 3008
Primary ISIN: TW0003008009 Primary SEDOL: 6451668
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
4.1 Elect Yen Shan-Chieh as Independent Director Mgmt For For
4.2 Elect Peng Ming-Hua as Independent Director Mgmt For For
4.3 Elect Non-Independent Director No.1 SH None Against
4.4 Elect Non-Independent Director No.2 SH None Against
4.5 Elect Non-Independent Director No.3 SH None Against
4.6 Elect Non-Independent Director No.4 SH None Against
4.7 Elect Non-Independent Director No.5 SH None Against
4.8 Elect Non-Independent Director No.6 SH None Against
4.9 Elect Non-Independent Director No.7 SH None Against
4.10 Elect Supervisor No.1 SH None Against
Page 168 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Largan Precision Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.11 Elect Supervisor No.2 SH None Against
4.12 Elect Supervisor No.3 SH None Against
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives
Lee & Man Paper Manufacturing Ltd.
Meeting Date: 05/09/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2314
Primary ISIN: KYG5427W1309 Primary SEDOL: 6693772
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Lee Man Chun Raymond as Director Mgmt For For
4 Elect Li King Wai Ross as Director Mgmt For For
5 Elect Poon Chung Kwong as Director Mgmt For For
6 Authorize Board to Confirm the Terms of Mgmt For For Appointment, Including the Remuneration, of Wong Kai Tung Tony
7 Authorize Board to Confirm the Terms of Mgmt For For Appointment, Including the Remuneration, of Peter A Davies
8 Authorize Board to Confirm the Terms of Mgmt For For Appointment, Including the Remuneration, of Chau Shing Yim David
9 Approve Remuneration of Directors for the Year Mgmt For For Ended December 31, 2015
10 Authorize Board to Fix Remuneration of Mgmt For For Directors for the Year Ending December 31, 2016
11 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Page 169 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Lee & Man Paper Manufacturing Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 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.
13 Authorize Repurchase of Issued Share Capital Mgmt For For
14 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.
Liberty Holdings Ltd
Meeting Date: 05/20/2016 Country: South Africa Meeting Type: Annual Ticker: LBH
Primary ISIN: ZAE000127148 Primary SEDOL: 6515058
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2015
2.1 Re-elect Santie Botha as Director Mgmt For For
2.2 Re-elect Steven Braudo as Director Mgmt For Abstain
Voter Rationale:
An ABSTAIN on this resolution is warranted. This Director has stepped down from the Board and the resolution relating to his re-election will be withdrawn at the AGM.
2.3 Re-elect Dr Sibusiso Sibisi as Director Mgmt For For
2.4 Re-elect Jim Sutcliffe as Director Mgmt For For
2.5 Elect Yunus Suleman as Director Mgmt For For
3 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company with A du Preez as the Individual Registered Auditor
4 Place Authorised but Unissued Ordinary Shares Mgmt For For Under Control of Directors
5 Place Authorised but Unissued Preference Mgmt For For Shares Under Control of Directors
6 Authorise Board to Issue Shares for Cash Mgmt For For
7.1 Re-elect Mike Ilsley as Chairman of the Audit Mgmt For For and Actuarial Committee
Page 170 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Liberty Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.2 Re-elect Angus Band as Member of the Audit Mgmt For For and Actuarial Committee
7.3 Re-elect Tony Cunningham as Member of the Mgmt For For Audit and Actuarial Committee
7.4 Elect Yunus Suleman as Member of the Audit Mgmt For For and Actuarial Committee
7.5 Re-elect Jim Sutcliffe as Member of the Audit Mgmt For For and Actuarial Committee
8 Approve Remuneration Policy Mgmt For Against
Voter Rationale:
This plan could lead to excessive dilution.
Special Resolutions Mgmt
1 Authorise Directors to Issue Any Ordinary Mgmt For Against Shares of the Company for the Implementation of Any Share Incentive Scheme
Voter Rationale:
This plan could lead to excessive dilution.
2.1 Approve Remuneration of the Chairman of the Mgmt For For Board
2.2 Approve Remuneration of the Lead Independent Mgmt For For Director
2.3 Approve Remuneration of the Board Member Mgmt For For
2.4 Approve Remuneration of the International Mgmt For For Board Member, Member of Committees and Subsidiary Board and Chairman of a Sub-committee
2.5 Approve Remuneration of the International Mgmt For For Board Member, Member of Committees and Subsidiary Board and Chairman of a Committee
2.6 Approve Remuneration of the Chairman of the Mgmt For For Group Audit and Actuarial Committee
2.7 Approve Remuneration of the Member of the Mgmt For For Group Audit and Actuarial Committee
2.8 Approve Remuneration of the Chairman of the Mgmt For For Group Actuarial Committee
2.9 Approve Remuneration of the Member of the Mgmt For For Group Actuarial Committee
2.10 Approve Remuneration of the Chairman of the Mgmt For For Group Risk Committee
2.11 Approve Remuneration of the Member of the Mgmt For For Group Risk Committee
2.12 Approve Remuneration of the Chairman of the Mgmt For For Group Remuneration Committee
2.13 Approve Remuneration of the Member of the Mgmt For For Group Remuneration Committee
Page 171 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Liberty Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.14 Approve Remuneration of the Chairman of the Mgmt For For Group Social, Ethics and Transformation Committee
2.15 Approve Remuneration of the Member of the Mgmt For For Group Social, Ethics and Transformation Committee
2.16 Approve Remuneration of the Member of the Mgmt For For Group Directors' Affairs Committee
2.17 Approve Remuneration of the Chairman of the Mgmt For For Group IT Committee
2.18 Approve Remuneration of the Member of the Mgmt For For Group IT Committee
2.19 Approve Remuneration of the Chairman of the Mgmt For For STANLIB Limited Board
2.20 Approve Remuneration of the Member of the Mgmt For For STANLIB Limited Board
2.21 Approve Fee Per Ad Hoc Board Meeting Mgmt For For
2.22 Approve Fee Per Ad Hoc Board Committee Mgmt For For Meeting
3.1 Approve Financial Assistance to Related or Mgmt For Against Inter-related Company or Corporation Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
3.2 Approve Financial Assistance to Any Employee, Mgmt For Against Director, Prescribed Officer or Other Person or Any Trust Established for their Benefit in Terms of Any Share Incentive Scheme
Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
4 Authorise Repurchase of Issued Share Capital Mgmt For For
Lite-On Technology Corp.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 2301
Primary ISIN: TW0002301009 Primary SEDOL: 6519481
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
Page 172 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Lite-On Technology Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Amend Rules and Procedures for Election of Mgmt For For Directors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
6.1 Elect Raymond Soong, with Shareholder No. 1, Mgmt For For as Non-Independent Director
6.2 Elect Warren Chen, Representative of Lite on Mgmt For For Capital Corporation, with Shareholder No. 28383, as Non-Independent Director
6.3 Elect Keh Shew Lu, Representative of Ta Sung Mgmt For For Investment Co., Ltd., with Shareholder No. 59285, as Non-Independent Director
6.4 Elect Y.T. Pan, Representative of Ta Sung Mgmt For For Investment Co., Ltd., with Shareholder No. 59285, as Non-Independent Director
6.5 Elect CH Chen, Representative of Yuan Pao Mgmt For For Development and Investment Co., Ltd., with Shareholder No. 103603, as Non-Independent Director
6.6 Elect David Lee, Representative of Yuan Pao Mgmt For For Development and Investment Co., Ltd., with Shareholder No. 103603, as Non-Independent Director
6.7 Elect Joseph Lin, Representative of Dorcas Mgmt For For Investment Co., Ltd., with Shareholder No. 617, as Non-Independent Director
6.8 Elect Kuo Feng Wu, with Shareholder No. Mgmt For For 435271, as Independent Director
6.9 Elect Harvey Chang, with Shareholder No. Mgmt For For 441272, as Independent Director
6.10 Elect Edward Yang, with Shareholder No. Mgmt For For 435270, as Independent Director
6.11 Elect Albert Hseuh, with Shareholder No. Mgmt For For 528391, as Independent Director
7 Approve Release of Restrictions of Competitive Mgmt For For Activities of Appointed Directors
Page 173 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Lojas Renner
Meeting Date: 04/20/2016 Country: Brazil Meeting Type: Annual Ticker: LREN3
Primary ISIN: BRLRENACNOR1 Primary SEDOL: B0CGYD6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.a Accept Management Statements for Fiscal Year Mgmt For For Ended Dec. 31, 2015
1.b Accept Financial Statements for Fiscal Year Mgmt For For Ended Dec. 31, 2015
2.a Approve Allocation of Income Mgmt For For
2.b Approve Dividends Mgmt For For
3 Fix Number of Directors Mgmt For For
4 Elect Directors Mgmt For For
Voter Rationale:
The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
5 Approve Remuneration of Company's Mgmt For For Management
6 Fix Number of Fiscal Council Members Mgmt For For
7 Elect Fiscal Council Members Mgmt For For
8 Approve Remuneration of Fiscal Council Mgmt For For Members
Lojas Renner
Meeting Date: 04/20/2016 Country: Brazil Meeting Type: Special Ticker: LREN3
Primary ISIN: BRLRENACNOR1 Primary SEDOL: B0CGYD6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Remuneration of Company's Mgmt For For Management for Fiscal Year 2015
Page 174 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Longfor Properties Co. Ltd
Meeting Date: 05/31/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 960
Primary ISIN: KYG5635P1090 Primary SEDOL: B56KLY9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Wu Yajun as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3.2 Elect Frederick Peter Churchouse as Director Mgmt For For
3.3 Elect Chan Chi On, Derek as Director Mgmt For For
3.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
Lukoil PJSC
Meeting Date: 06/23/2016 Country: Russia Meeting Type: Annual Ticker: LKOH
Primary ISIN: RU0009024277 Primary SEDOL: B59SNS8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Page 175 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Lukoil PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report, Financial Statements, Mgmt For For and Allocation of Income, Including Dividends
Elect 11 Directors by Cumulative Voting Mgmt
2.1 Elect Vagit Alekperov as Director Mgmt None For
2.2 Elect Viktor Blazheev as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.3 Elect Toby Gati as Director Mgmt None For
2.4 Elect Valery Grayfer as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.5 Elect Igor Ivanov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.6 Elect Nikolay Nikolaev as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.7 Elect Ravil Maganov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.8 Elect Roger Munnings as Director Mgmt None For
2.9 Elect Richard Matzke as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.10 Elect Guglielmo Moscato as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.11 Elect Ivan Pictet as Director Mgmt None For
Page 176 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Lukoil PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.12 Elect Leonid Fedun as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3 Elect Vagit Alekperov as President of Company Mgmt For For
Elect Three Members of Audit Commission Mgmt
4.1 Elect Ivan Vrublevski as Member of Audit Mgmt For For Commission
4.2 Elect Pavel Suloyev as Member of Audit Mgmt For For Commission
4.3 Elect Aleksandr Surkov as Member of Audit Mgmt For For Commission
5.1 Approve Remuneration of Directors for Their Mgmt For For Service until 2016 AGM
5.2 Approve Remuneration of Directors for Their Mgmt For For Service from 2016 AGM
6.1 Approve Remuneration of Members of Audit Mgmt For For Commission for Their Service until 2016 AGM
6.2 Approve Remuneration of Members of Audit Mgmt For For Commission for Their Service Starting from 2016 AGM
7 Ratify Auditor Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
8 Amend Charter Mgmt For For
9 Approve New Edition of Regulations on General Mgmt For For Meetings
10 Approve New Edition of Regulations on on Mgmt For For Board of Directors
11 Approve New Edition of Regulations on Mgmt For For Management
12 Approve Related-Party Transaction with OAO Mgmt For For Kapital Strakhovanie Re: Liability Insurance for Directors, Officers, and Corporations
Magnit PJSC
Meeting Date: 06/02/2016 Country: Russia Meeting Type: Annual Ticker: MGNT
Primary ISIN: RU000A0JKQU8 Primary SEDOL: B59GLW2
Page 177 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Magnit PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends Mgmt For For
Elect Seven Directors by Cumulative Voting Mgmt
4.1 Elect Aleksandr Aleksandrov as Director Mgmt None For
4.2 Elect Sergey Galitsky as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.3 Elect Vladimir Gordeychuk as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.4 Elect Aleksandr Zayonts as Director Mgmt None For
4.5 Elect Khachatur Pombukhchan as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.6 Elect Alexey Pshenichny as Director Mgmt None For
4.7 Elect Aslan Shkhachemukov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Three Members of Audit Commission Mgmt
5.1 Elect Roman Efimenko as Member of Audit Mgmt For For Commission
5.2 Elect Angela Udovichenko as Member of Audit Mgmt For For Commission
5.3 Elect Denis Fedotov as Member of Audit Mgmt For For Commission
6 Ratify Auditor to Audit Company's Accounts in Mgmt For Against Accordance with Russian Accounting Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Page 178 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Magnit PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Ratify Auditor to Audit Company's Accounts in Mgmt For Against Accordance with IFRS Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
8.1 Approve Large-Scale Transaction with AO Mgmt For For Tander Re: Loan Agreement
8.2 Approve Large-Scale Transaction with AO Mgmt For For Russian Agricultural Bank Re: Guarantee Agreement
8.3 Approve Large-Scale Transaction with AO Alfa Mgmt For For Bank Re: Guarantee Agreement
8.4 Approve Large-Scale Transaction with PAO Mgmt For For Rosbank Re: Guarantee Agreement
8.5 Approve Large-Scale Transaction with PAO Mgmt For For Sberbank Russia Re: Guarantee Agreement
Magnit PJSC
Meeting Date: 06/02/2016 Country: Russia Meeting Type: Annual Ticker: MGNT
Primary ISIN: RU000A0JKQU8 Primary SEDOL: B59GLW2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends Mgmt For For
Elect Seven Directors by Cumulative Voting Mgmt
4.1 Elect Aleksandr Aleksandrov as Director Mgmt None For
4.2 Elect Sergey Galitsky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.3 Elect Vladimir Gordeychuk as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 179 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Magnit PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.4 Elect Aleksandr Zayonts as Director Mgmt None For
4.5 Elect Khachatur Pombukhchan as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.6 Elect Alexey Pshenichny as Director Mgmt None For
4.7 Elect Aslan Shkhachemukov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Three Members of Audit Commission Mgmt
5.1 Elect Roman Efimenko as Member of Audit Mgmt For For Commission
5.2 Elect Angela Udovichenko as Member of Audit Mgmt For For Commission
5.3 Elect Denis Fedotov as Member of Audit Mgmt For For Commission
6 Ratify Auditor to Audit Company's Accounts in Mgmt For For Accordance with Russian Accounting
7 Ratify Auditor to Audit Company's Accounts in Mgmt For For Accordance with IFRS
8.1 Approve Large-Scale Transaction with AO Mgmt For For Tander Re: Loan Agreement
8.2 Approve Large-Scale Transaction with AO Mgmt For For Russian Agricultural Bank Re: Guarantee Agreement
8.3 Approve Large-Scale Transaction with AO Alfa Mgmt For For Bank Re: Guarantee Agreement
8.4 Approve Large-Scale Transaction with PAO Mgmt For For Rosbank Re: Guarantee Agreement
8.5 Approve Large-Scale Transaction with PAO Mgmt For For Sberbank Russia Re: Guarantee Agreement
Mahle Metal Leve S.A.
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Annual Ticker: LEVE3
Primary ISIN: BRLEVEACNOR2 Primary SEDOL: B0HZY49
Page 180 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mahle Metal Leve S.A.
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, 2015
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Capital Budget Mgmt For For
4.1 Elect Directors and Alternates Mgmt For Do Not Vote
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.
4.2 Elect Mauro Gentile Rodrigues da Cunha as SH None For Director and Reginaldo Ferreira Alexandre as Alternate Nominated by Minority Shareholders
5.1 Elect Fiscal Council Members and Alternates and Mgmt For Abstain Approve their Remuneration Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
5.2 Elect Mario Probst as Fiscal Council Member and SH None For Monica Hojaij Carvalho Molina as Alternate Appointed by Minority Shareholder
Mahle Metal Leve S.A.
Meeting Date: 04/27/2016 Country: Brazil Meeting Type: Special Ticker: LEVE3
Primary ISIN: BRLEVEACNOR2 Primary SEDOL: B0HZY49
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Company's Mgmt For For Management
Mediatek Inc.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 2454
Primary ISIN: TW0002454006 Primary SEDOL: 6372480
Page 181 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mediatek Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of Restricted Stocks Mgmt For Against
5 Other Business Mgmt None Against
Mega Financial Holding Co. Ltd.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 2886
Primary ISIN: TW0002886009 Primary SEDOL: 6444066
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
MegaFon PJSC
Meeting Date: 06/30/2016 Country: Russia Meeting Type: Annual Ticker: MFON
Primary ISIN: RU000A0JS942 Primary SEDOL: B8PR8P2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
Page 182 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MegaFon PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Allocation of Income and Dividends Mgmt For For
4 Approve Interim Dividends of RUB 8.06 per Mgmt For For Share for First Quarter of Fiscal 2016
Elect Seven Directors by Cumulative Voting Mgmt
5.1 Elect Robert Andersson as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.2 Elect Gustav Bengtsson as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.3 Elect Nikolay Krylov Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect Sergey Kulikov as Director Mgmt None For
5.5 Elect Paul Myners as Director Mgmt None For
5.6 Elect Carl Luiga as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Per Emil Nilsson as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.8 Elect Jan Rudberg as Director Mgmt None For
5.9 Elect Sergey Soldatenkov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.10 Elect Ingrid Stenmark as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 183 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MegaFon PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.11 Elect Vladimir Streshinsky as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6 Elect General Director (CEO) Mgmt For For
7 Fix Size of Management Board; Elect Members Mgmt For For of Management Board
8 Ratify Auditor Mgmt For For
Elect Three Members of Audit Commission Mgmt
9.1 Elect Yury Zheymo as Member of Audit Mgmt For For Commission
9.2 Elect Pavel Kaplun as Member of Audit Mgmt For For Commission
9.3 Elect Sami Haavisto as Member of Audit Mgmt For For Commission
Melco Crown Entertainment Ltd.
Meeting Date: 05/18/2016 Country: Cayman Islands Meeting Type: Annual Ticker: MPEL
Primary ISIN: US5854641009 Primary SEDOL: B1KYHF2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Deloitte Touche Tohmatsu as Mgmt For For Independent Auditors and Authorize Board to Fix Their Remuneration
3 Authorize Repurchase of Issued Share Capital Mgmt For For
MercadoLibre, Inc.
Meeting Date: 06/10/2016 Country: USA Meeting Type: Annual Ticker: MELI
Primary ISIN: US58733R1023 Primary SEDOL: B23X1H3
Page 184 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MercadoLibre, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Director Emiliano Calemzuk Mgmt For For
Voter Rationale:
Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.
1.2 Elect Director Marcos Galperin 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 for preserving accountability. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.
1.3 Elect Director Roberto Balls Sallouti Mgmt For For
Voter Rationale:
Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.
2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale:
The company should put in place a procedure which would enable it, should it identify any facts of manipulation of reported indicators or other bad faith actions on the part of any of its executive directors and other key managers which were detrimental to the long-term interests of its shareholders, to ensure that any funds wrongfully obtained in such manner are repaid to it.
3 Ratify Deloitte & Co. S.A. as Auditors Mgmt For For
Merida Industry Co., Ltd.
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 9914
Primary ISIN: TW0009914002 Primary SEDOL: 6584445
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
2 Approve Amendments to Articles of Association Mgmt For For
3 Approve Business Operations Report, Financial Mgmt For For Statements and Consolidated Financial Statements
4 Approve Plan on Profit Distribution Mgmt For For
Page 185 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mobile Telesystems PJSC
Meeting Date: 06/23/2016 Country: Russia Meeting Type: Annual Ticker: MBT
Primary ISIN: RU0007775219 Primary SEDOL: B59FPS3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Meeting Procedures Mgmt For For
2 Approve Annual Report, Financial Statements, Mgmt For For and Allocation of Income, Including Dividends of RUB 14.01 per Share
Elect Nine Directors by Cumulative Voting Mgmt
3.1 Elect Aleksandr Gorbunov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.2 Elect Andrey Dubovskov as Director Mgmt None For
3.3 Elect Ron Sommer as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.4 Elect Michel Combes as Director Mgmt None For
3.5 Elect Stanley Miller as Director Mgmt None For
3.6 Elect Vsevolod Rozanov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.7 Elect Regina von Flemming as Director Mgmt None For
3.8 Elect Thomas Holtrop as Director Mgmt None For
3.9 Elect Mikhail Shamolin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Three Members of Audit Commission Mgmt
4.1 Elect Irina Borisenkova as Member of Audit Mgmt For For Commission
Page 186 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mobile Telesystems PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2 Elect Maksim Mamonov as Member of Audit Mgmt For For Commission
4.3 Elect Anatoly Panarin as Member of Audit Mgmt For For Commission
5 Ratify Auditor Mgmt For For
6 Approve New Edition of Charter Mgmt For For
7 Approve New Edition of Regulations on General Mgmt For For Meetings
8 Approve New Edition of Regulations on Board of Mgmt For For Directors
9 Approve Reduction in Share Capital Mgmt For For
10 Amend Charter Mgmt For For
MOL Hungarian Oil and Gas Plc
Meeting Date: 04/14/2016 Country: Hungary Meeting Type: Annual Ticker: MOL
Primary ISIN: HU0000068952 Primary SEDOL: 4742494
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Meeting Procedures/Approve Use of Mgmt For For Electronic Vote Collection Method
2 Elect Keeper of Minutes, Shareholders to Mgmt For For Authenticate Minutes, and Counter of Votes
3 Approve Standalone and Consolidated Financial Mgmt For For Statements and Statutory Reports
4 Approve Dividends Mgmt For For
5 Approve Company's Corporate Governance Mgmt For For Statement
6 Approve Discharge of Management Board Mgmt For Against
Voter Rationale: A vote AGAINST this item is warranted in light of the ongoing investigation in Croatia related to the involvement of MOL's Chairman of the management board, Zsolt Hernadi, in the bribery scandal.
7 Approve Auditors and Authorize Board to Fix Mgmt For For Their Remuneration
8 Receive Information on the Acquisition of Own Mgmt For For Shares
Page 187 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MOL Hungarian Oil and Gas Plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Authorize Share Repurchase Program Mgmt For Against
Voter Rationale: Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company. Furthermore, shares should not be repurchased at a premium/discount to the market price of more than 10%.
10 Reelect Oszkar Vilagi Management Board Mgmt For For Member
11 Reelect Gyorgy Mosonyi as Supervisory Board Mgmt For Against Member Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
12 Elect Norbert Szivek as Audit Committee Mgmt For Against Member Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Shareholder Proposals Mgmt
13 Elect Ivan Miklos as Supervisory Board Member SH For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
14 Elect Ivan Miklos as Audit Committee Member SH For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Shareholder Proposals Submitted by CEZ MH Mgmt B.V.
15 Approve Reduction in Share Capital by Holders SH For For of "A" Series Shares
16 Approve Reduction in Share Capital SH For For
Mondi Ltd
Meeting Date: 05/12/2016 Country: South Africa Meeting Type: Annual Ticker: MND
Primary ISIN: ZAE000156550 Primary SEDOL: B41LJ57
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Common Business: Mondi Limited and Mondi plc Mgmt
1 Elect Dominique Reiniche as Director Mgmt For For
2 Re-elect Stephen Harris as Director Mgmt For For
Page 188 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mondi Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Re-elect David Hathorn as Director Mgmt For For
4 Re-elect Andrew King as Director Mgmt For For
5 Re-elect John Nicholas as Director Mgmt For For
6 Re-elect Peter Oswald as Director Mgmt For For
7 Re-elect Fred Phaswana as Director Mgmt For For
8 Re-elect Anne Quinn as Director Mgmt For For
9 Re-elect David Williams as Director Mgmt For For
10 Re-elect Stephen Harris as Member of the DLC Mgmt For For Audit Committee
11 Re-elect John Nicholas as Member of the DLC Mgmt For For Audit Committee
12 Re-elect Anne Quinn as Member of the DLC Mgmt For For Audit Committee
Mondi Limited Business Mgmt
13 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2015
14 Approve Remuneration Policy Mgmt For For
15 Approve Remuneration of Non-executive Mgmt For For Directors
16 Approve Final Dividend Mgmt For For
17 Reappoint Deloitte & Touche as Auditors of the Mgmt For For Company with Shelly Nelson as the Registered Auditor
18 Authorise the DLC Audit Committee to Fix Mgmt For For Remuneration of Auditors
19 Approve Financial Assistance to Related or Mgmt For For Inter-related Company or Corporation
20 Place Authorised but Unissued Ordinary Shares Mgmt For For Under Control of Directors
21 Place Authorised but Unissued Special Mgmt For For Converting Shares Under Control of Directors
22 Authorise Board to Issue Shares for Cash Mgmt For For
23 Authorise Repurchase of Issued Share Capital Mgmt For For
24 Approve Long-Term Incentive Plan Mgmt For For
25 Approve Bonus Share Plan Mgmt For For
Mondi plc Business Mgmt
26 Accept Financial Statements and Statutory Mgmt For For Reports
Page 189 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Mondi Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
27 Approve Remuneration Report Mgmt For For
28 Approve Final Dividend Mgmt For For
29 Reappoint Deloitte LLP as Auditors Mgmt For For
30 Authorise the DLC Audit Committee to Fix Mgmt For For Remuneration of Auditors
31 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
32 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
33 Authorise Market Purchase of Ordinary Shares Mgmt For For
34 Approve Long-Term Incentive Plan Mgmt For For
35 Approve Bonus Share Plan Mgmt For For
MRV Engenharia e Participacoes SA
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual/Special Ticker: MRVE3
Primary ISIN: BRMRVEACNOR2 Primary SEDOL: B235JN1
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Authorize Capitalization of Reserves and Amend Mgmt For For Article 5 to Reflect Changes in Capital
4 Amend Article 6 Re: Authorized Capital Mgmt For For
5 Amend Article 21 Mgmt For For
6 Consolidate Bylaws Mgmt For For
7 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
8 Approve Minutes of the Meeting Mgmt For For
Page 190 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MRV Engenharia e Participacoes SA
Meeting Date: 06/30/2016 Country: Brazil Meeting Type: Special Ticker: MRVE3
Primary ISIN: BRMRVEACNOR2 Primary SEDOL: B235JN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Agreement to Absorb Palazzo Di Mgmt For For Spagna Incorporacoes SPE Ltda
2 Ratify Ovalle Leao Auditoria e Consultoria Mgmt For For Tributaria e Contabil Ltda as the Independent Firm to Appraise Proposed Transaction
3 Approve Independent Firm's Appraisal Mgmt For For
4 Approve Absorption of Palazzo Di Spagna Mgmt For For Incorporacoes SPE Ltda
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
6 Approve Exclusion of Shareholder Names from Mgmt For For AGM Minutes
MTN Group Ltd
Meeting Date: 05/25/2016 Country: South Africa Meeting Type: Annual Ticker: MTN
Primary ISIN: ZAE000042164 Primary SEDOL: 6563206
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Re-elect Azmi Mikati as Director Mgmt For Against
Voter Rationale: Azmi Mikati is a non-independent NED who serves as a member of the Remuneration and Nomination Committees, which do not comprise a majority of independent NEDs. The absence of an independent majority on the Remuneration and Nomination Committees is not consistent with local best practice guidelines.
2 Re-elect Koosum Kalyan as Director Mgmt For For
3 Re-elect Alan van Biljon as Director Mgmt For For
Voter Rationale: We support this director's re-election, yet encourage the board explain why it continue to consider him an independent director in light of his long tenure. Prolonged membership on a board jeopardises independenceas directors may become close with management and overlyinvested in prior strategic decisions. After a certain length ofboard service, directors may not be considered fully independent. We recognise that there is no fixed time periodthat can automatically trigger a director’s loss of independence,but uses a 12-year benchmark as a general guidance
4 Re-elect Jeff van Rooyen as Director Mgmt For For
5 Elect Shaygan Kheradpir as Director Mgmt For For
Page 191 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
MTN Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Re-elect Christine Ramon as Chairperson of the Mgmt For For Audit Committee
7 Re-elect Peter Mageza as Member of the Audit Mgmt For For Committee
8 Elect Azmi Mikati as Member of the Audit Mgmt For Against Committee Voter Rationale: Azmi Mikati is a non-independent NED who serves as a member of the Remuneration and Nomination Committees, which do not comprise a majority of independent NEDs. The absence of an independent majority on the Remuneration and Nomination Committees is not consistent with local best practice guidelines.
9 Re-elect Jeff van Rooyen as Member of the Mgmt For For Audit Committee
10 Reappoint PricewaterhouseCoopers Inc and Mgmt For For SizweNtsalubaGobodo Inc as Joint Auditors of the Company
11 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
12 Authorise Board to Issue Shares for Cash Mgmt For For
13 Approve Remuneration Philosophy Mgmt For For
14 Authorise Repurchase of Issued Share Capital Mgmt For For
15 Approve Financial Assistance to Subsidiaries and Mgmt For Against Other Related and Inter-related Entities
16 Approve Financial Assistance to Directors, Mgmt For Against Prescribed Officers and Employee Share Scheme Beneficiaries
Multiplus SA
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: MPLU3
Primary ISIN: BRMPLUACNOR3 Primary SEDOL: B3PRVV4
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For For
3 Ratify Distribution of Dividends and Mgmt For For Interest-on-Capital-Stock Payments
Page 192 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Multiplus SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Re-Ratify Remuneration for Fiscal Year 2015 and Mgmt For Against Approve Remuneration of Company's Management for Fiscal Year 2016 Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Nan Ya Plastics Corp
Meeting Date: 06/23/2016 Country: Taiwan Meeting Type: Annual Ticker: 1303
Primary ISIN: TW0001303006 Primary SEDOL: 6621580
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect Chia Chau Wu with Shareholder No.16681 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Wen Yuan Wong with Shareholder Mgmt For Against No.273986 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect Wilfred Wang, a Representative of Mgmt For Against Formosa Petrochemical Corporation with Shareholder No.260221, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.4 Elect Ruey Yu Wang with Shareholder No.73127 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 193 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Nan Ya Plastics Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.5 Elect Chin Jen Wu, a Representative of Formosa Mgmt For Against Plastics Corp. with Shareholder No.5658, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect Ming Jen Tzou with Shareholder Mgmt For Against No.427610 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect Kuei Yung Wang with Shareholder Mgmt For Against No.445487 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.8 Elect Shen Yi Lee, a Representative of Formosa Mgmt For Against Chemicals and Fibre Corp. with Shareholder No.6090, as Non-Independent Director
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.9 Elect Fong Chin Lin with Shareholder No.253418 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.10 Elect Zo Chun Jen with Shareholder No.445203 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.11 Elect Sin Yi Huang with Shareholder No.26459 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.12 Elect Ching Cheng Chang, a Representative of Mgmt For Against Freedom International Enterprise Company with Shareholder No.655362, as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.13 Elect Chih Kang Wang with ID No.F103335XXX Mgmt For For as Independent Director
4.14 Elect Yi Fu Lin with ID No.A103619XXX as Mgmt For For Independent Director
4.15 Elect Yun Peng Chu with Shareholder No.55680 Mgmt For For as Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors and Representatives
Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 194 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Nan Ya Plastics Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Other Business Mgmt None Against
Voter Rationale:
Any Other Business should not be a voting item.
Novolipetsk Steel
Meeting Date: 06/03/2016 Country: Russia Meeting Type: Annual Ticker: NLMK
Primary ISIN: RU0009046452 Primary SEDOL: B59FPC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends Mgmt For For
4 Approve Interim Dividends for First Three Mgmt For For Months of Fiscal 2016
Elect Directors by Cumulative Voting Mgmt
5.1 Elect Oleg Bagrin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.2 Elect Thomas Veraszto as Director Mgmt None For
5.3 Elect Helmut Wieser as Director Mgmt None For
5.4 Elect Nikolay Gagarin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Vladimir Lisin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 195 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Novolipetsk Steel
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.6 Elect Karen Sarkisov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Stanislav Shekshnya as Director Mgmt None For
5.8 Elect Benedict Sciortino as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.9 Elect Franz Struzl as Director Mgmt None For
6 Elect Oleg Bagrin as General Director Mgmt For For
Elect Five Members of Audit Commission Mgmt
7.1 Elect Violetta Voronova as Member of Audit Mgmt For For Commission
7.2 Elect Tatyana Gorbunova as Member of Audit Mgmt For For Commission
7.3 Elect Yuliya Kunikhina as Member of Audit Mgmt For For Commission
7.4 Elect Mikhail Makeev as Member of Audit Mgmt For For Commission
7.5 Elect Oksana Putilina as Member of Audit Mgmt For For Commission
8 Approve Remuneration of Directors Mgmt For For
9.1 Ratify RAS Auditor Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
9.2 Ratify IFRS Auditor Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
OTP Bank PLC
Meeting Date: 04/15/2016 Country: Hungary Meeting Type: Annual Ticker: OTP
Primary ISIN: HU0000061726 Primary SEDOL: 7320154
Page 196 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
OTP Bank PLC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Standalone and Consolidated Financial Mgmt For For Statements, Statutory Reports, and Allocation of Income
2 Approve Company's Corporate Governance Mgmt For For Statement
3 Approve Discharge of Management Board Mgmt For For
4 Renew Appointment of Deloitte as Auditors and Mgmt For Against Authorize Board to Fix Their Remuneration
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
5.1 Decision on Discussing the Bylaw Amendments Mgmt For For Bundled or Unbundled
5.2 Amend Art. 9.4, 9.13 b) iii), and 10.2 of Bylaws Mgmt For For Re: Management Board's Vice-Chair
5.3 Amend Art. 12/A.3 and 12/A.4 of Bylaws Re: Mgmt For For Supervisory and Management Board Members' and Executive Officers' Functions in Other Companies
5.4 Amend Art. 13.4 of Bylaws Re: Dividend Mgmt For For Distribution
6.1 Reelect Sandor Csanyi as Management Board Mgmt For For Member
6.2 Reelect Mihaly Baumstark as Management Mgmt For For Board Member
6.3 Reelect Tibor Biro as Management Board Mgmt For For Member
6.4 Reelect Tamas Gyorgy Erdei as Management Mgmt For For Board Member
6.5 Reelect Istvan Gresa as Management Board Mgmt For For Member
6.6 Elect Antal Gyorgy Kovacs as Management Mgmt For For Board Member
6.7 Reelect Antal Pongracz as Management Board Mgmt For For Member
6.8 Reelect Laszlo Utassy as Management Board Mgmt For For Member
6.9 Reelect Jozsef Voros as Management Board Mgmt For For Member
6.10 Elect Laszlo Wolf as Management Board Mgmt For For Member
Page 197 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
OTP Bank PLC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Elect Agnes Rudas as Supervisory Board Mgmt For Against Member Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
8 Approve Remuneration Statement Mgmt For For
9 Approve Remuneration of Management and Mgmt For For Supervisory Board and Audit Committee Members
10 Authorize Share Repurchase Program Mgmt For Against
Voter Rationale: Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company. Furthermore, shares should not be repurchased at a premium/discount to the market price of more than 10%.
Pan American Silver Corp.
Meeting Date: 05/11/2016 Country: Canada Meeting Type: Annual/Special Ticker: PAA
Primary ISIN: CA6979001089 Primary SEDOL: 2669272
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Directors at Eight Mgmt For For
2.1 Elect Director Ross J. Beaty Mgmt For For
2.2 Elect Director Michael Steinmann Mgmt For For
2.3 Elect Director Michael L. Carroll Mgmt For For
2.4 Elect Director Christopher Noel Dunn Mgmt For For
2.5 Elect Director Neil de Gelder Mgmt For For
2.6 Elect Director David C. Press Mgmt For For
2.7 Elect Director Walter T. Segsworth Mgmt For For
2.8 Elect Director Gillian D. Winckler Mgmt For For
3 Approve Deloitte LLP as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration
4 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale:
A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies.
Page 198 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Parex Resources Inc.
Meeting Date: 05/11/2016 Country: Canada Meeting Type: Annual/Special Ticker: PXT
Primary ISIN: CA69946Q1046 Primary SEDOL: B575D14
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Directors at Eight Mgmt For For
2.1 Elect Director Curtis Bartlett Mgmt For For
2.2 Elect Director John Bechtold Mgmt For For
2.3 Elect Director Lisa Colnett Mgmt For For
2.4 Elect Director Robert Engbloom Mgmt For For
2.5 Elect Director Wayne Foo Mgmt For For
2.6 Elect Director Norman McIntyre Mgmt For For
2.7 Elect Director Ron Miller Mgmt For For
2.8 Elect Director Paul Wright Mgmt For For
3 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
4 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale:
On early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control. Furthermore, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.
5 Amend Restricted Share Unit Plan Mgmt For Against
Voter Rationale:
The plan improperly allows for accelerated vesting for an overly broad range of corporate restructuring scenarios and such provisions fail to reward performance. Rather, equity should be rolled forward into any successor company, or vest in a time-apportioned fashion only to the extent that performance conditions are met or if an executive loses his job. Furthermroe, this plan could lead to excessive dilution.
Pax Global Technology Ltd.
Meeting Date: 04/22/2016 Country: Bermuda Meeting Type: Annual Ticker: 327
Primary ISIN: BMG6955J1036 Primary SEDOL: B3LX5R0
Page 199 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Pax Global Technology Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Lu Jie as Director Mgmt For For
4 Elect Yip Wai Ming as Director Mgmt For For
5 Authorize Board to Fix Remuneration of Mgmt For For Directors
6 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
7 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.
8 Authorize Repurchase of Issued Share Capital Mgmt For For
9 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.
Peak Sport Products Co., Ltd.
Meeting Date: 05/06/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 1968
Primary ISIN: KYG695991011 Primary SEDOL: B3Z9VV0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Xu Jingnan 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.
4 Elect Wu Tigao as Director Mgmt For Against
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 200 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Peak Sport Products Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Elect Zhu Haibin as Director Mgmt For For
6 Authorize Board to Fix Remuneration of Mgmt For For Directors
7 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
8 Authorize Repurchase of Issued Share Capital Mgmt For For
9 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.
10 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.
Pegatron Corp.
Meeting Date: 04/20/2016 Country: Taiwan Meeting Type: Special Ticker: 4938
Primary ISIN: TW0004938006 Primary SEDOL: B4PLX17
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
Pegatron Corp.
Meeting Date: 06/21/2016 Country: Taiwan Meeting Type: Annual Ticker: 4938
Primary ISIN: TW0004938006 Primary SEDOL: B4PLX17
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements (Voting)
2 Approve Plan on Profit Distribution/ Approve Mgmt For For Statement of Profit and Loss Appropriation
Page 201 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Pegatron Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Issuance of Restricted Stocks Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect T.H. Tung with Shareholder No. 3 as Mgmt For For Non-independent Director
4.2 Elect Jason Cheng with Shareholder No. 37 as Mgmt For For Non-independent Director
4.3 Elect C.I. Chia with Shareholder No. 210889 as Mgmt For For Non-independent Director
4.4 Elect C.V. Chen with ID No.A100743XXX as Mgmt For For Non-independent Director
4.5 Elect Shou-Chung Ting with ID No. E101610XXX Mgmt For For as Non-independent Director
4.6 Elect Tze-Kaing Yang with ID No. A102241XXX Mgmt For For as Non-independent Director
4.7 Elect Schive Chi, Representative of DAI-HE Mgmt For For Investment Co., Ltd. with Shareholder No. 294954, as Non-independent Director
4.8 Elect Syh-Jang Liao, Representative of HONG-YE Mgmt For For Investment Co., Ltd., with Shareholder No. 294793 as Non-independent Director
4.9 Elect C.B. Chang with ID No. D100235XXX as Mgmt For For Independent Director
4.10 Elect Chun-Bao Huang with Shareholder No. Mgmt For For 00211424 as Independent Director
4.11 Elect C.S. Yen with ID No. F101393XXX as Mgmt For For Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors
Petrochina Company Limited
Meeting Date: 05/25/2016 Country: China Meeting Type: Annual Ticker: 857
Primary ISIN: CNE1000003W8 Primary SEDOL: 6226576
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Page 202 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Petrochina Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Supervisory Committee Mgmt For For
3 Approve Audited Financial Statements Mgmt For For
4 Approve Final Dividend Mgmt For For
5 Authorize Board to Determine the Distribution of Mgmt For For Interim Dividends
6 Approve KPMG Huazhen and KPMG as Domestic Mgmt For For and International Auditors Respectively, and Authorize Board to Fix Their Remuneration
7 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
8 Elect Xu Wenrong as Director Mgmt For For
Petrochina Company Limited
Meeting Date: 05/25/2016 Country: China Meeting Type: Annual Ticker: 857
Primary ISIN: CNE1000003W8 Primary SEDOL: 6226576
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Supervisory Committee Mgmt For For
3 Approve Audited Financial Statements Mgmt For For
4 Approve Final Dividend Mgmt For For
5 Authorize Board to Determine the Distribution of Mgmt For For Interim Dividends
6 Approve KPMG Huazhen and KPMG as Domestic Mgmt For For and International Auditors Respectively, and Authorize Board to Fix Their Remuneration
7 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
8 Elect Xu Wenrong as Director Mgmt For For
Page 203 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Petroleo Brasileiro SA-Petrobras
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual/Special Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Special Meeting Mgmt
1 Amend Articles Mgmt For Against
Voter Rationale:
Changes in company's articles or by-laws should not erode shareholder rights.
2 Consolidate Bylaws Mgmt For Against
Voter Rationale:
Changes in company's articles or by-laws should not erode shareholder rights.
3 Ratify Waiver of Preemptive Rights on the Mgmt For For Subscription of New Shares Issued by Logum Logistica SA
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For Against Reports for Fiscal Year Ended Dec. 31, 2015 Voter Rationale:
A vote AGAINST this request is warranted because there are significant concerns regarding the accounts presented by the company, with questions being raised regarding the methodologies used to calculate asset values and losses due to impairments as well as foreign exchange rate fluctuations, Petrobras' fiscal council minority shareholders' representatives voted against the company's financial statements in light of concerns regarding the methodologies used by the company and the lack of a more conservative approach; and Petrobras, its financial statements, and the opinions issued by current and former auditors PricewaterhouseCoopers and KPMG are under investigation by the Brazilian Securities Regulator (CVM).
2.a Elect Directors Appointed by the Controlling Mgmt For Abstain Shareholder Voter Rationale:
The company has presented a slate for the board of directors' election with seven nominees. Given that minority shareholders have disclosed a nominee to be their representative to the board, an ABSTAIN vote is warranted for item 2.a.
2.b1 Elect Walter Mendes de Oliveira Filho as SH None For Director and Roberto da Cunha Castello Branco as alternate Nominated by Minority Shareholders
3 Elect Board Chairman Mgmt For For
4.a Elect Fiscal Council Members Appointed by the Mgmt For Abstain Controlling Shareholder Voter Rationale:
The company has presented a slate for its fiscal council. Given that minority shareholders have disclosed nominees to be their representative and alternate in the fiscal council, an ABSTAIN vote is warranted for item 4.a.
4.b1 Elect Reginaldo Ferreira Alexandre as Fiscal SH None For Council Member and Mario Cordeiro Filho as Alternate Appointed by Minority Shareholders
5 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members
Page 204 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Petroleo Brasileiro SA-Petrobras
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Meeting for Preferred Shareholders Mgmt
2.1 Elect Guilherme Affonso Ferreira as Director and SH None For Gustavo Rocha Gattass as Alternate Nominated by Preferred Shareholders
4.1 Elect Walter Luis Bernardes Albertoni as Fiscal SH None For Council Member and Roberto Lamb as Alternate Nominated by Preferred Shareholders
Petronas Chemicals Group Berhad
Meeting Date: 04/28/2016 Country: Malaysia Meeting Type: Annual Ticker: PCHEM
Primary ISIN: MYL5183OO008 Primary SEDOL: B5KQGT3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Sazali bin Hamzah as Director Mgmt For For
2 Elect Dong Soo Kim as Director Mgmt For For
3 Elect Md Arif bin Mahmood as Director Mgmt For For
4 Elect Zakaria bin Kasah as Director Mgmt For For
5 Elect Freida binti Amat as Director Mgmt For Against
Voter Rationale:
The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
Page 205 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PGE Polska Grupa Energetyczna SA
Meeting Date: 06/28/2016 Country: Poland Meeting Type: Annual Ticker: PGE
Primary ISIN: PLPGER000010 Primary SEDOL: B544PW9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Resolve Not to Elect Members of Vote Counting Mgmt For For Commission
6 Approve Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
7 Approve Management Board Report on Mgmt For For Company's Operations
8 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
9 Approve Management Board Report on Group's Mgmt For For Operations
10 Approve Allocation of Income Mgmt For For
11.1 Approve Discharge of Barbara Dybek Mgmt For For (Supervisory Board Chairwoman)
11.2 Approve Discharge of Piotr Machnikowski Mgmt For For (Supervisory Board Member)
11.3 Approve Discharge of Anna Kowalik Mgmt For For (Supervisory Board Member)
11.4 Approve Discharge of Jacek Barylski Mgmt For For (Supervisory Board Member)
11.5 Approve Discharge of Jaroslaw Golebiewski Mgmt For For (Supervisory Board Member)
11.6 Approve Discharge of Krzysztof Trochimiuk Mgmt For For (Supervisory Board Member)
11.7 Approve Discharge of Malgorzata Molas Mgmt For For (Supervisory Board Member)
11.8 Approve Discharge of Malgorzata Mika-Bryska Mgmt For For (Supervisory Board Member)
11.9 Approve Discharge of Czeslaw Grzesiak Mgmt For For (Supervisory Board Member)
11.10 Approve Discharge of Marek Sciazko Mgmt For For (Supervisory Board Member)
Page 206 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PGE Polska Grupa Energetyczna SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.11 Approve Discharge of Jacek Fotek (Supervisory Mgmt For For Board Member)
11.12 Approve Discharge of Marek Woszczyk (CEO) Mgmt For For
11.13 Approve Discharge of Dariusz Marzec (Deputy Mgmt For For CEO)
11.14 Approve Discharge of Jacek Drozd (Deputy Mgmt For For CEO)
11.15 Approve Discharge of Grzegorz Krystek (Deputy Mgmt For For CEO)
12 Close Meeting Mgmt
Philippine Long Distance Telephone Co.
Meeting Date: 06/14/2016 Country: Philippines Meeting Type: Annual Ticker: TEL
Primary ISIN: PH7182521093 Primary SEDOL: 6685661
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Audited Financial Statements for Mgmt For For the Fiscal Year Ended Dec. 31, 2015
Elect 13 Directors by Cumulative Voting Mgmt
2.1 Elect Bernido H. Liu as Director Mgmt For For
2.2 Elect Artemio V. Panganiban as Director Mgmt For Withhold
2.3 Elect Pedro E. Roxas as Director Mgmt For Withhold
2.4 Elect Helen Y. Dee as Director Mgmt For Withhold
2.5 Elect Ray C. Espinosa as Director Mgmt For Withhold
2.6 Elect James L. Go as Director Mgmt For Withhold
2.7 Elect Tadashi Miyashita as Director Mgmt For Withhold
2.8 Elect Napoleon L. Nazareno as Director Mgmt For Withhold
2.9 Elect Hideaki Ozaki as Director Mgmt For Withhold
2.10 Elect Manuel V. Pangilinan as Director Mgmt For Withhold
2.11 Elect Ma. Lourdes C. Rausa-Chan as Director Mgmt For Withhold
2.12 Elect Juan B. Santos as Director Mgmt For Withhold
2.13 Elect Tony Tan Caktiong as Director Mgmt For Withhold
Page 207 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Philippine Long Distance Telephone Co.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Amend the First Article and Second Article of Mgmt For For the Articles of Incorporation
4 Ratify the Corporation's Authority to Invest Mgmt For Against Corporate Funds for Purposes Other than Its Primary Purpose and Grant of Authority to the Board of Directors to Determine the Timing, Final Structure, Amount, Terms and Conditions of the Investment of Funds
Voter Rationale: A vote AGAINST this resolution is warranted due to potential risks to shareholder value and rights.
PICC Property and Casualty Co., Ltd.
Meeting Date: 06/24/2016 Country: China Meeting Type: Annual Ticker: 2328
Primary ISIN: CNE100000593 Primary SEDOL: 6706250
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audited Financial Statements and Mgmt For For Auditor's Report
4 Approve 2015 Profit Distribution Plan and Mgmt For For Payment of Final Dividend
5 Approve 2016 Directors' Fees Mgmt For For
6 Approve 2016 Supervisors' Fees Mgmt For For
7 Elect Chu Bende as Director Mgmt For For
8 Approve Deloitte Touche Tohmatsu as Mgmt For For International Auditor and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration
9 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.
10 Approve Issuance of 10-Year Capital Mgmt For For Supplementary Bonds and Related Transactions
Page 208 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Ping An Insurance (Group) Co. of China, Ltd.
Meeting Date: 06/15/2016 Country: China Meeting Type: Annual Ticker: 2318
Primary ISIN: CNE1000003X6 Primary SEDOL: B01FLR7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Supervisory Committee Mgmt For For
3 Approve the Annual Report and Summary Mgmt For For
4 Approve Audited Financial Statement and Mgmt For For Auditor's Report
5 Approve the Profit Distribution Plan and Mgmt For For Distribution of Final Dividends
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as PRC Auditor and PricewaterhouseCoopers as International Auditor and Authorized Board to Fix Their Remuneration
7 Elect Huang Baokui as Supervisor Mgmt For For
8 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.
Pou Chen Corporation
Meeting Date: 06/15/2016 Country: Taiwan Meeting Type: Annual Ticker: 9904
Primary ISIN: TW0009904003 Primary SEDOL: 6696157
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors and Supervisors
Page 209 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Pou Chen Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Amendments to Procedures Governing Mgmt For For the Acquisition or Disposal of Assets
6 Approve Amendments to Rules and Procedures Mgmt For For Regarding Shareholder's General Meeting
7 Amend Procedures for Lending Funds to Other Mgmt For For Parties
8 Amend Procedures for Endorsement and Mgmt For For Guarantees
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
9.1 Elect CHEN BO LIANG with Shareholder No. Mgmt For For 315185 as Independent Director
9.2 Elect CHIU TIEN YI with ID No. H120511XXX as Mgmt For For Independent Director
9.3 Elect CHEN JUNG TUNG with ID Mgmt For For No.L102800XXX Independent Director
9.4 Elect Non-independent Director No. 1 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
9.5 Elect Non-independent Director No. 2 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
9.6 Elect Non-independent Director No. 3 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
9.7 Elect Non-independent Director No. 4 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
9.8 Elect Non-independent Director No. 5 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
9.9 Elect Non-independent Director No. 6 SH None Against
Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
10 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 210 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Powertech Technology Inc.
Meeting Date: 05/27/2016 Country: Taiwan Meeting Type: Annual Ticker: 6239
Primary ISIN: TW0006239007 Primary SEDOL: 6599676
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
3 Approve Cash Dividend Distribution from Capital Mgmt For For Reserve
PT AKR Corporindo Tbk
Meeting Date: 04/28/2016 Country: Indonesia Meeting Type: Annual Ticker: AKRA
Primary ISIN: ID1000106701 Primary SEDOL: 6048156
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
4 Authorize Commissioners to Increase the Issued Mgmt For Against and Paid-Up Capital in relation to the Management Stock Option Program (MSOP) Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 211 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Astra International Tbk
Meeting Date: 04/27/2016 Country: Indonesia Meeting Type: Annual Ticker: ASII
Primary ISIN: ID1000122807 Primary SEDOL: B800MQ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Elect Directors and Commissioners and Approve Mgmt For Against Their Remuneration Voter Rationale: The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
4 Appoint Auditors Mgmt For Against
Voter Rationale: Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
PT Bumi Serpong Damai Tbk
Meeting Date: 05/19/2016 Country: Indonesia Meeting Type: Annual Ticker: BSDE
Primary ISIN: ID1000110802 Primary SEDOL: B2RJPM0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Elect Directors and Commissioners Mgmt For Against
Voter Rationale:
The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
Page 212 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Bumi Serpong Damai Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
5 Approve Auditors Mgmt For Against
Voter Rationale:
Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
PT Gudang Garam Tbk
Meeting Date: 06/21/2016 Country: Indonesia Meeting Type: Annual Ticker: GGRM
Primary ISIN: ID1000068604 Primary SEDOL: 6366999
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Directors' Report Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Accept Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Dividends Mgmt For For
4 Appoint Auditors Mgmt For Against
Voter Rationale:
Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
PT Indofood CBP Sukses Makmur Tbk
Meeting Date: 06/03/2016 Country: Indonesia Meeting Type: Annual/Special Ticker: ICBP
Primary ISIN: ID1000116700 Primary SEDOL: B4LD3M8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ANNUAL GENERAL MEETING AGENDA Mgmt
1 Accept Directors' Annual Report Mgmt For For
Page 213 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Indofood CBP Sukses Makmur Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Accept Financial Statements Mgmt For For
3 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
4 Elect Antonius Prijohandojo Kristanto as Mgmt For For Commissioner
5 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
6 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
EXTRAORDINARY GENERAL MEETING AGENDA Mgmt
1 Amend Articles of Association Re: Change in Mgmt For For Shares' Par Value
PT Kalbe Farma Tbk
Meeting Date: 05/31/2016 Country: Indonesia Meeting Type: Annual Ticker: KLBF
Primary ISIN: ID1000125107 Primary SEDOL: B7311V6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For Against
3 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration
4 Approve Remuneration of Directors and Mgmt For Against Commissioners
Page 214 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Link Net Tbk
Meeting Date: 04/15/2016 Country: Indonesia Meeting Type: Annual Ticker: LINK
Primary ISIN: ID1000131808 Primary SEDOL: BMS8CQ9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
4 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
5 Approve Share Repurchase Program Mgmt For For
PT Matahari Department Store Tbk
Meeting Date: 05/26/2016 Country: Indonesia Meeting Type: Annual Ticker: LPPF
Primary ISIN: ID1000113301 Primary SEDOL: 6665878
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For For
3 Approve Auditors and Authorize Board to Fix Mgmt For For Their Remuneration
Page 215 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Matahari Department Store Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Elect Directors and Commissioners and Approve Mgmt For For Their Remuneration Voter Rationale: We welcome the steps taken by the company to align its Corporate Governance policies with market best practice. We urge the board to allow shareholders to hold individual directors accountable for their performance by unbundling the election of directors and commissioners into separate voting items in future. We also encourage the company to provide additional biographical information for directors and commissioners, ideally 21 days in advance of the meeting, allowing investors to assess whether the board has an appropriate balance of independence and objectivity.
PT Perusahaan Gas Negara (Persero) TBK
Meeting Date: 04/08/2016 Country: Indonesia Meeting Type: Annual Ticker: PGAS
Primary ISIN: ID1000111602 Primary SEDOL: 6719764
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Annual Report of the Company and its Mgmt For For Partnership and Community Development Program (PCDP) and Commissioners' Report
2 Approve Financial Statements of the Company Mgmt For For and its PCDP and Discharge of Directors and Commissioners
3 Approve Allocation of Income and Dividend Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
4 Approve Remuneration and Bonus of Directors Mgmt For Against and Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
5 Approve Auditors of the Company and the PCDP Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Elect Directors and Commissioners Mgmt For Against
Voter Rationale:
The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
Page 216 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Semen Indonesia (Persero) Tbk
Meeting Date: 05/13/2016 Country: Indonesia Meeting Type: Annual Ticker: SMGR
Primary ISIN: ID1000106800 Primary SEDOL: 6795236
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports and Discharge of Directors and Commissioners
2 Accept Report of the Partnership and Mgmt For For Community Development Program (PCDP) and Discharge of Directors and Commissioners
3 Ratify the Minister of the State-owned Mgmt For For Enterprise Regulation No. PER-09/MBU/07/2015 about the PCDP
4 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
5 Approve Remuneration and Tantiem of Directors Mgmt For Against and Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
6 Appoint Auditors of the Company and the PCDP Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Elect Directors and Commissioners Mgmt For Against
Voter Rationale:
The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
PT Sumber Alfaria Trijaya Tbk
Meeting Date: 05/27/2016 Country: Indonesia Meeting Type: Annual Ticker: AMRT
Primary ISIN: ID1000128705 Primary SEDOL: BCDBLJ9
Page 217 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Sumber Alfaria Trijaya Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale:
Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
4 Approve Duties and Remuneration of Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
PT Tambang Batubara Bukit Asam Tbk
Meeting Date: 04/14/2016 Country: Indonesia Meeting Type: Annual Ticker: PTBA
Primary ISIN: ID1000094006 Primary SEDOL: 6565127
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Accept Report of the Partnership and Mgmt For For Community Development Program (PCDP) and Discharge of Directors and Commissioners
3 Approve Allocation of Income and Dividends Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
4 Approve Remuneration and Tantiem of Directors Mgmt For Against and Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
Page 218 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Tambang Batubara Bukit Asam Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Appoint Auditors of the Company and the PCDP Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Approve Release of Post Open-mining Land Mgmt For For Tanah Hitam and Kandi in Ombilin to the City Government of Sawahlunto
7 Elect Directors and Commissioners Mgmt For Against
Voter Rationale:
The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
PT Telekomunikasi Indonesia Tbk
Meeting Date: 04/22/2016 Country: Indonesia Meeting Type: Annual Ticker: TLKM
Primary ISIN: ID1000129000 Primary SEDOL: BD4T6W7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Annual Report and Commissioners' Mgmt For For Report
2 Accept Financial Statements and Annual Report Mgmt For For of the Partnership and Community Development Program (PCDP) and Discharge of Directors and Commissioners
3 Approve the Implementation of Minister of the Mgmt For For State-owned Enterprise Regulation No. PER-09/MBU/07/2015 about Partnership and Community Development Programs in State-owned Enterprise
4 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
5 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
6 Appoint Auditors of the Company and the PCDP Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Page 219 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PT Telekomunikasi Indonesia Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Commissioners to Diverse the Mgmt For For Company's Treasury Stock from Share Buyback IV
8 Elect Directors and Commissioners Mgmt For Against
Voter Rationale:
The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
PT United Tractors Tbk
Meeting Date: 04/25/2016 Country: Indonesia Meeting Type: Annual Ticker: UNTR
Primary ISIN: ID1000058407 Primary SEDOL: 6230845
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For Against
Voter Rationale:
Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Elect Directors and Commissioners Mgmt For For
Voter Rationale:
The board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
4 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale:
Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
5 Appoint Auditors Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
PTT Global Chemical Public Co., Ltd.
Meeting Date: 04/05/2016 Country: Thailand Meeting Type: Annual Ticker: PTTGC
Primary ISIN: TH1074010006 Primary SEDOL: B67QFW9
Page 220 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PTT Global Chemical Public Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge Company's Operation for Year Mgmt 2015 and Business Plan
2 Accept Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividend Mgmt For For Distribution
4.1 Elect Anon Sirisaengtaksin as Director Mgmt For For
4.2 Elect Don Wasantapruek as Director Mgmt For For
4.3 Elect Prasan Chuaphanich as Director Mgmt For For
4.4 Elect Watanan Petersik as Director Mgmt For For
4.5 Elect Supattanapong Punmeechaow as Director Mgmt For For
5 Approve Remuneration of Directors Mgmt For For
6 Approve KPMG Phoomchai Audit Ltd. as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
7 Authorize Issuance of Debentures Mgmt For For
8 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
PTT PCL
Meeting Date: 04/11/2016 Country: Thailand Meeting Type: Annual Ticker: PTT
Primary ISIN: TH0646010007 Primary SEDOL: 6420389
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Approve Allocation of Income and Dividends Mgmt For For
3.1 Elect Piyasvasti Amranand as Director Mgmt For For
3.2 Elect Somchai Sujjapongse as Director Mgmt For For
3.3 Elect AM Chatchalerm Chalermsukh as Director Mgmt For For
3.4 Elect Don Wasantapruek as Director Mgmt For For
Page 221 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
PTT PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.5 Elect Prasert Bunsumpun as Director Mgmt For For
4 Approve Remuneration of Directors Mgmt For For
5 Approve Office of The Auditor General of Mgmt For For Thailand as Auditors and Approve Their Remuneration
6 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
QIWI PLC
Meeting Date: 04/29/2016 Country: Cyprus Meeting Type: Special Ticker: QIWI
Primary ISIN: US74735M1080 Primary SEDOL: B8SCPH5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Amend Articles: Board-Related Mgmt For Against
Voter Rationale:
Changes in company's articles or by-laws should not erode shareholder rights.
QIWI PLC
Meeting Date: 06/02/2016 Country: Cyprus Meeting Type: Annual Ticker: QIWI
Primary ISIN: US74735M1080 Primary SEDOL: B8SCPH5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
A.1 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports
A.2 Accept Standalone Financial Statements and Mgmt For For Statutory Reports
B.1 Ratify Auditors Mgmt For For
B.2 Approve Remuneration of External Auditors Mgmt For For
Page 222 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
QIWI PLC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Elect Directors by Cumulative Voting Mgmt
C.1.A Elect Rohinton Minoo Kalifa as Director Mgmt None For
C.1.B Elect Marcus James Rhodes as Director Mgmt None For
C.1.C Elect Osama Bedier as Director Mgmt None For
C.2.A Elect Boris Kim as Director Mgmt None For
C.2.B Elect Sergey Solonin as Director Mgmt None For
C.2.C Elect Andrey Romanenko as Director Mgmt None For
C.2.D Elect David Gerald William Birch as Director Mgmt None For
D.1 Approve Remuneration of Non-Executive Mgmt For For Directors
D.2 Approve Remuneration of Executive Directors Mgmt For For
Radiant Opto-Electronics Corp.
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 6176
Primary ISIN: TW0006176001 Primary SEDOL: 6520278
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Profit Distribution Mgmt For For
4 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
Realtek Semiconductor Corp.
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 2379
Primary ISIN: TW0002379005 Primary SEDOL: 6051422
Page 223 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Realtek Semiconductor Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Cash Dividend Distribution from Capital Mgmt For For Reserve
5 Transact Other Business (Non-Voting) Mgmt
S.A.C.I. Falabella
Meeting Date: 04/26/2016 Country: Chile Meeting Type: Annual Ticker: FALABELLA
Primary ISIN: CLP3880F1085 Primary SEDOL: 2771672
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For For
3 Approve Dividend Policy Mgmt For For
4 Approve Remuneration of Directors Mgmt For For
5 Appoint Auditors and Designate Risk Mgmt For Against Assessment Companies Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Designate Newspaper to Publish Mgmt For For Announcements
7 Receive Report Regarding Related-Party Mgmt For For Transactions
8 Approve Remuneration and Budget of Directors' Mgmt For For Committee and Receive Their Report
9 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Page 224 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sberbank of Russia PJSC
Meeting Date: 05/27/2016 Country: Russia Meeting Type: Annual Ticker: SBER
Primary ISIN: RU0009029540 Primary SEDOL: 4767981
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR/GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends of Mgmt For For RUB 1.97 Per Share
4 Ratify Auditor Mgmt For For
Elect 14 Directors by Cumulative Voting Mgmt
5.1 Elect Esko Tapani Aho as Director Mgmt None For
5.2 Elect Martin Gilman as Director Mgmt None For
5.3 Elect German Gref as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect Nadezhda Ivanova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Sergey Ignatyev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.6 Elect Aleksey Kudrin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Georgy Luntovsky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 225 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.8 Elect Vladimir Mau as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.9 Elect Gennady Melikyan as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.10 Elect Alessandro Profumo as Director Mgmt None For
5.11 Elect Anton Siluanov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.12 Elect Sergey Sinelnikov-Murylev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.13 Elect Dmitry Tulin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.14 Elect Nadia Wells as Director Mgmt None For
5.15 Elect Sergey Shvetsov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Seven Members of Audit Commission Mgmt
6.1 Elect Natalya Borodina as Member of Audit Mgmt For For Commission
6.2 Elect Vladimir Volkov as Member of Audit Mgmt For For Commission
6.3 Elect Irina Litvinova as Member of Audit Mgmt For For Commission
6.4 Elect Tatyana Domanskaya as Member of Audit Mgmt For For Commission
6.5 Elect Yulia Isakhanova as Member of Audit Mgmt For For Commission
6.6 Elect Aleksey Minenko as Member of Audit Mgmt For For Commission
Page 226 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6.7 Elect Natalya Revina as Member of Audit Mgmt For For Commission
7 Amend Charter Mgmt For For
8 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors, Company, and Its Subsidiaries
9 Amend Terms of Remuneration of Supervisory Mgmt For For Board Members
S1 If You Are a Legal Entity Mark FOR; If You Are Mgmt None For an Individual Holder Mark AGAINST
SEMAFO INC.
Meeting Date: 05/12/2016 Country: Canada Meeting Type: Annual Ticker: SMF
Primary ISIN: CA8169221089 Primary SEDOL: 2795371
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Director Terence F. Bowles Mgmt For For
1.2 Elect Director Benoit Desormeaux Mgmt For For
1.3 Elect Director Flore Konan Mgmt For For
1.4 Elect Director Jean Lamarre Mgmt For For
1.5 Elect Director John LeBoutillier Mgmt For For
1.6 Elect Director Gilles Masson Mgmt For For
1.7 Elect Director Lawrence McBrearty Mgmt For For
1.8 Elect Director Tertius Zongo Mgmt For For
2 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
3 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies.
Page 227 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SerComm Corp.
Meeting Date: 06/15/2016 Country: Taiwan Meeting Type: Annual Ticker: 5388
Primary ISIN: TW0005388003 Primary SEDOL: 6156770
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
4.1 Elect Wang Po Yuan, Representative of Pacific Mgmt For Against Venture Partners Co., Ltd. with Shareholder No. 730, as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Lu Hsueh Chin, Representative of Zhuojian Mgmt For Against Investment Co., Ltd. with Shareholder No. 17723, as Non-independent Director
Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect Wang Wei with Shareholder No. 10968 as Mgmt For Against Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.4 Elect Lin Pin with Shareholder No. 4 as Mgmt For Against Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.5 Elect Chu Cheng Kuang with Shareholder No. Mgmt For Against 10970 as Non-independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect Shih Chin Tai with ID No. R101349XXX as Mgmt For For Independent Director
4.7 Elect Steve K. Chen with ID No.1958011XXX as Mgmt For For Independent Director
4.8 Elect Kuo Jui Sung, Representative of An Long Mgmt For For Co., Ltd. with Shareholder No. 27615, as Supervisor
Page 228 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SerComm Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.9 Elect Wei Yung Tu, Representative of Ycsy Co., Mgmt For For Ltd. with Shareholder No. 77326, as Supervisor
4.10 Elect Hsueh Pin Pin with ID No. A221369XXX as Mgmt For For Supervsior
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Meeting Date: 04/26/2016 Country: China Meeting Type: Special Ticker: 600196
Primary ISIN: CNE000000X38 Primary SEDOL: 6121187
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve the Impact of Dilution of Current Mgmt For For Returns on Major Financial Indicators and the Relevant Measures to be Taken
2 Approve Undertakings of Remedial Measures by Mgmt For For the Relevant Parties in Relation to the Dilution of Current Returns as a Result of the Non-Public Issuance of A Shares
Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Meeting Date: 06/07/2016 Country: China Meeting Type: Annual Ticker: 600196
Primary ISIN: CNE000000X38 Primary SEDOL: 6121187
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Annual Report Mgmt For For
2 Approve 2015 Work Report of the Board of Mgmt For For Directors
3 Approve 2015 Work Report of the Supervisory Mgmt For For Committee
Page 229 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve 2015 Final Accounts Report Mgmt For For
5 Approve 2015 Annual Profit Distribution Mgmt For For Proposal
6 Approve Ernst & Young Hua Ming (Special Mgmt For For General Partnership) as PRC Financial Report and Internal Control Report Auditors and Ernst & Young as International Financial Report Auditors and Authorize Board to Fix Their Remuneration
7 Approve 2016 Estimated Ongoing Related Party Mgmt For Against Transactions
8 Approve 2015 Appraisal Results and Mgmt For For Remuneration of Directors
9 Approve 2016 Appraisal Program of Directors Mgmt For For
10 Approve Renewal of and New Entrusted Loan Mgmt For Against Quota of the Group Voter Rationale: A vote AGAINST this resolution is warranted as the company has failed to disclose pertinent details regarding this proposal.
11 Approve Renewal of and New Guarantee Quota Mgmt For For of the Group
12 Approve Total Bank Credit Applications of the Mgmt For For Group
13 Approve Authorization to the Management to Mgmt For For Dispose of Listed Securities
14 Approve Adjustments of Allowance of Mgmt For For Independent Non-executive Directors
15 Approve the Amendment of Board Rules Mgmt For For
16 Approve Proposed Issuance of the Renewable Mgmt For For Corporate Bonds
16.1 Approve Size and Method of Issuance in Mgmt For For Relation to the Proposed Issuance of the Renewable Corporate Bonds
16.2 Approve Bond Rate or its Determination Mgmt For For Mechanism in Relation to the Proposed Issuance of the Renewable Corporate Bonds
16.3 Approve Maturity Period, Method of Principal Mgmt For For Payment and Interest Payment and Other Specific Arrangements in Relation to the Proposed Issuance of the Renewable Corporate Bonds
16.4 Approve Use of Proceeds in Relation to the Mgmt For For Proposed Issuance of the Renewable Corporate Bonds
16.5 Approve Investors and the Placing Agreement Mgmt For For for Shareholders in Relation to the Proposed Issuance of the Renewable Corporate Bonds
Page 230 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
16.6 Approve Guarantee in Relation to the Proposed Mgmt For For Issuance of the Renewable Corporate Bonds
16.7 Approve Credit Standing in Relation to the Mgmt For For Proposed Issuance of the Renewable Corporate Bonds
16.8 Approve Underwriting in Relation to the Mgmt For For Proposed Issuance of the Renewable Corporate Bonds
16.9 Approve Listing Agreement in Relation to the Mgmt For For Proposed Issuance of the Renewable Corporate Bonds
16.10 Approve Resolution Validity in Relation to the Mgmt For For Proposed Issuance of the Renewable Corporate Bonds
17 Authorize Board to Handle All Matters in Mgmt For For Relation to the Reporting and Issuance of the Renewable Corporate Bonds
18 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
19 Approve Resolution in Relation to the Extension Mgmt For For of the Effective Period for the Proposed Non-Public Issuance
20 Approve Resolution in Relation to the Extension Mgmt For For of the Effective Period for Authorization of the Proposed Non-Public Issuance
ELECT 2 EXECUTIVE AND 5 NON-EXECUTIVE Mgmt DIRECTORS VIA CUMULATIVE VOTING
21.1 Elect Chen Qiyu as Director Mgmt For For
21.2 Elect Yao Fang as Director Mgmt For For
21.3 Elect Guo Guangchang as Director Mgmt For For
21.4 Elect Wang Qunbin as Director Mgmt For For
21.5 Elect Kang Lan as Director Mgmt For For
21.6 Elect John Changzheng Ma as Director Mgmt For Against
21.7 Elect Wang Can as Director Mgmt For For
ELECT 4 INDEPENDENT NON-EXECUTIVE Mgmt DIRECTORS VIA CUMULATIVE VOTING
22.1 Elect Cao Huimin as Director Mgmt For For
22.2 Elect Jiang Xian as Director Mgmt For For
22.3 Elect Wong Tin Yau Kelvin as Director Mgmt For Against
22.4 Elect Wai Shiu Kwan Danny as Director Mgmt For For
Page 231 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT 2 SUPERVISORS VIA CUMULATIVE Mgmt VOTING
23.1 Elect Cao Genxing as Supervisor Mgmt For For
23.2 Elect Guan Yimin as Supervisor Mgmt For For
Shanghai Industrial Holdings Ltd
Meeting Date: 05/26/2016 Country: Hong Kong Meeting Type: Annual Ticker: 363
Primary ISIN: HK0363006039 Primary SEDOL: 6810010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Zhou Jie as Director Mgmt For For
Voter Rationale:
Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3b Elect Zhou Jun as Director Mgmt For For
Voter Rationale:
Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3c Elect Cheng Hoi Chuen, Vincent as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3d Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
Page 232 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Shanghai Industrial Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 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.
Shimao Property Holdings Ltd.
Meeting Date: 06/20/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 813
Primary ISIN: KYG810431042 Primary SEDOL: B16YNS1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Tang Fei as Director Mgmt For For
3.2 Elect Liao Lujiang as Director Mgmt For For
3.3 Elect Kan Naigui as Director Mgmt For For
3.4 Elect Lu Hong Bing as Director Mgmt For For
3.5 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For Against and Authorize Board to Fix Their Remuneration
Voter Rationale:
Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
Page 233 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Simplo Technology Co., Ltd.
Meeting Date: 06/13/2016 Country: Taiwan Meeting Type: Annual Ticker: 6121
Primary ISIN: TW0006121007 Primary SEDOL: 6421928
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Profit Distribution Mgmt For For
4 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
SINOPEC Engineering Group Co Ltd
Meeting Date: 05/06/2016 Country: China Meeting Type: Annual Ticker: 2386
Primary ISIN: CNE100001NV2 Primary SEDOL: B92NYC9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ORDINARY RESOLUTIONS Mgmt
1 Accept Report of the Board of Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Accept Report of the Supervisory Committee Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Accept Financial Statements Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve Final Dividend Distribution Plan Mgmt For For
5 Approve Interim Profit Distribution Plan Mgmt For For
6 Approve Grant Thornton China (Special General Mgmt For For Partnership) and Grant Thornton Hong Kong Limited as Auditor and Authorize Board to Fix Their Remuneration
7 Approve Business Operation Plan, Investment Mgmt For For Plan and Financial Budget Plan
SPECIAL RESOLUTIONS Mgmt
Page 234 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SINOPEC Engineering Group Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Authorize Repurchase of Issued Share Capital Mgmt For For
2 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.
SINOPEC Engineering Group Co Ltd
Meeting Date: 05/06/2016 Country: China Meeting Type: Special Ticker: 2386
Primary ISIN: CNE100001NV2 Primary SEDOL: B92NYC9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued Share Capital Mgmt For For
Sinopharm Group Co., Ltd.
Meeting Date: 06/16/2016 Country: China Meeting Type: Annual Ticker: 1099
Primary ISIN: CNE100000FN7 Primary SEDOL: B3ZVDV0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audited Financial Statements of Mgmt For For the Company and Its Subsidiaries and the Auditors' Report
4 Approve 2015 Profit Distribution Plan and Final Mgmt For For Dividend
5 Authorize Board to Fix Remuneration of Mgmt For For Directors
6 Authorize Supervisory Committee to Fix Mgmt For For Remuneration of Supervisors
Page 235 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sinopharm Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Board to Approve Guarantees in Favor Mgmt For Against of Third Parties Voter Rationale: A vote AGAINST this resolution is warranted given that granting of a blanket authority to provide guarantees may unnecessarily increase the company's risks.
8 Elect Wu Yijian as Director and Authorize Board Mgmt For For to Fix His Remuneration and Execute a Service Contract or Supplemental Agreements or Deeds
9 Approve Issuance of Debt Financing Mgmt For For Instruments and Related Transactions
10 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.
11 Approve Ernst & Young Hua Ming LLP as the SH For For Domestic Auditor and Authorize Board to Fix Their Remuneration
12 Approve Ernst & Young as the International SH For For Auditor and Authorize Board to Fix Their Remuneration
Sinotrans Ltd.
Meeting Date: 05/18/2016 Country: China Meeting Type: Annual Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Supervisory Committee Mgmt For For
3 Approve Audited Financial Statements and Mgmt For For Auditors' Report
4 Approve Profit Distribution Proposal and Final Mgmt For For Dividend
5 Authorize Board to Decide on Matters Relating Mgmt For For to the Declaration, Payment and Recommendation of 2016 Interim Dividends
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as PRC Auditor and Deloitte Touche Tohmatsu as International Auditor and Authorize Board to Fix Their Remuneration
Page 236 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sinotrans Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Elect Lu Zhengfei as Director and Authorize Mgmt For For Board to Fix His Remuneration
8 Authorize Board to Fix Remuneration of Mgmt For For Directors
9 Amend Articles of Association Mgmt For For
10 Approve Issuance of Debt Financing Mgmt For For Instruments
11 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.
12 Authorize Repurchase of Issued Share Capital Mgmt For For
Sinotrans Ltd.
Meeting Date: 05/18/2016 Country: China Meeting Type: Special Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued Share Capital Mgmt For For
Sinotrans Ltd.
Meeting Date: 05/18/2016 Country: China Meeting Type: Special Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve CMB Financial Services Agreement and Mgmt For For Related Transactions
Page 237 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sistema JSFC
Meeting Date: 06/25/2016 Country: Russia Meeting Type: Annual Ticker: AFKS
Primary ISIN: RU000A0DQZE3 Primary SEDOL: B5B6XH9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Meeting Procedures Mgmt For For
2 Approve Annual Report and Financial Mgmt For For Statements
3 Approve Allocation of Income and Dividends of Mgmt For For RUB 0.67 per Share
Elect Three Members of Audit Commission Mgmt
4.1 Elect Alexey Guryev as Member of Audit Mgmt For For Commission
4.2 Elect Ekaterina Kuznetsova as Member of Audit Mgmt For For Commission
4.3 Elect Alexey Lipsky as Member of Audit Mgmt For For Commission
Elect 11 Directors by Cumulative Voting Mgmt
5.1 Elect Sergey Boev as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.2 Elect Andrey Dubovskov as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.3 Elect Vladimir Evtushenkov as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect Feliks Evtushenkov as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Patrick Clanwilliam as Director Mgmt For For
Page 238 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sistema JSFC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.6 Elect Robert Kocharyan as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Jeannot Krecke as Director Mgmt For For
5.8 Elect Peter Mandelson as Director Mgmt For For
5.9 Elect Roger Munnings as Director Mgmt For For
5.10 Elect Mikhail Shamolin as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.11 Elect David Yakobashvili as Director Mgmt For For
6.1 Ratify ZAO Deloitte and Touche CIS as Auditor Mgmt For Against for RAS Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6.2 Ratify ZAO Deloitte and Touche CIS as Auditor Mgmt For Against for IFRS Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Approve New Edition of Charter Mgmt For For
8 Approve New Edition of Regulations on Board of Mgmt For For Directors
SKS Microfinance Ltd.
Meeting Date: 06/06/2016 Country: India Meeting Type: Special Ticker: 533228
Primary ISIN: INE180K01011 Primary SEDOL: B4TL227
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Change Company Name and Amend Mgmt For For Memorandum of Association to Reflect Change in Company Name
Page 239 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SM Investments Corporation
Meeting Date: 04/27/2016 Country: Philippines Meeting Type: Annual Ticker: SM
Primary ISIN: PHY806761029 Primary SEDOL: B068DB9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Minutes of Stockholders' Annual Mgmt For For Meeting Held on April 29, 2015
2 Approve the Annual Report Mgmt For For
3 Ratify All Acts and Resolutions of the Board of Mgmt For For Directors and Executive Officers
4 Approve the Declaration of Stock Dividends Mgmt For For
5 Approve Increase in the Authorized Capital Mgmt For For Stock and the Amendment of Article Seven of the Amended Articles of Incorporation
Elect 8 Directors by Cumulative Voting Mgmt
6.1 Elect Henry Sy, Sr. as Director Mgmt For For
6.2 Elect Teresita T. Sy as Director Mgmt For For
6.3 Elect Henry T. Sy, Jr. as Director Mgmt For For
6.4 Elect Harley T. Sy as Director Mgmt For For
6.5 Elect Jose T. Sio as Director Mgmt For For
6.6 Elect Ah Doo Lim as Director Mgmt For For
6.7 Elect Joseph R. Higdon as Director Mgmt For For
6.8 Elect Tomasa H. Lipana as Director Mgmt For For
7 Elect SyCip Gorres Velayo & Co. as External Mgmt For For Auditor
8 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item
SM Prime Holdings, Inc.
Meeting Date: 04/12/2016 Country: Philippines Meeting Type: Annual Ticker: SMPH
Primary ISIN: PHY8076N1120 Primary SEDOL: 6818843
Page 240 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SM Prime Holdings, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Held on Mgmt For For April 14, 2015
2 Approve Annual Report for the Year 2015 Mgmt For For
3 Ratify All Acts of the Board of Directors and the Mgmt For For Management from the Date of the Last Annual Stockholders' Meeting up to the Date of this Meeting
Elect 8 Directors by Cumulative Voting Mgmt
4.1 Elect Henry T. Sy, Jr. as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Hans T. Sy as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect Herbert T. Sy as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.4 Elect Jorge T. Mendiola as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.5 Elect Jeffrey C. Lim as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect Jose L. Cuisia, Jr. as Director Mgmt For Withhold
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.7 Elect Gregorio U. Kilayko as Director Mgmt For For
4.8 Elect Joselito H. Sibayan as Director Mgmt For For
5 Elect Sycip Gorres Velayo & Co. as Independent Mgmt For For Auditors
6 Approve Other Matters Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Page 241 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
SMI Holdings Group Ltd.
Meeting Date: 06/02/2016 Country: Bermuda Meeting Type: Annual Ticker: 00198
Primary ISIN: BMG8229F1077 Primary SEDOL: BSBLMB2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For Against Reports Voter Rationale:
A vote AGAINST this resolution is warranted given the auditor's opinion contained in the company's latest annual report is qualified.
2.1 Elect Cheng Chi Chung as Director Mgmt For For
2.2 Elect Yang Rongbing as Director Mgmt For For
2.3 Elect Zhou Lin as Director Mgmt For For
2.4 Elect Zhang Yongdong as Director Mgmt For For
2.5 Elect Yap Allan as Director Mgmt For For
Voter Rationale:
The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. Furthermore, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
2.6 Elect Pang Hong as Director Mgmt For For
2.7 Elect Li Fusheng as Director Mgmt For Against
Voter Rationale:
Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2.8 Elect Kam Chi Sing as Director Mgmt For Against
Voter Rationale:
Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2.9 Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
4 Approve Final Dividend Mgmt For For
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
7 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.
Page 242 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sociedad Quimica y Minera de Chile S.A. SQM
Meeting Date: 04/26/2016 Country: Chile Meeting Type: Annual Ticker: SQM-B
Primary ISIN: CLP8716X1082 Primary SEDOL: 2718301
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Accept Annual Report and Account Inspectors' Mgmt For For Report
3 Appoint Auditors Mgmt For For
4 Elect Internal Statutory Auditors Mgmt For For
5 Approve Report Regarding Related-Party Mgmt For For Transactions
6 Approve Investment and Financing Policy Mgmt For For
7 Approve Allocation of Income and Dividends Mgmt For For
8 Approve Eventual Dividend of $150 Million Mgmt For For
9 Approve Dividend Policy Mgmt For For
10 Approve Report on Board's Expenses Mgmt For For
Vote for Item 11.a or Item 11.b only; If You Mgmt Vote for Both Items 11.a and 11.b then the Ballot on this Resolution will not Count
11.a Elect Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.b Elect Edward J. Waitzer as Independent Director Mgmt For For
12 Approve Remuneration of Directors Mgmt For For
13 Receive Matters Related to Directors' Mgmt For For Committee, Safety, Health and Environmental Committee, and Corporate Governance Committee
14 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Page 243 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sociedad Quimica y Minera de Chile S.A. SQM
Meeting Date: 04/26/2016 Country: Chile Meeting Type: Annual Ticker: SQM-B
Primary ISIN: CLP8716X1082 Primary SEDOL: 2718301
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Accept Annual Report and Account Inspectors' Mgmt For For Report
3 Appoint Auditors Mgmt For For
4 Elect Internal Statutory Auditors Mgmt For For
5 Approve Report Regarding Related-Party Mgmt For For Transactions
6 Approve Investment and Financing Policy Mgmt For For
7 Approve Allocation of Income and Dividends Mgmt For For
8 Approve Eventual Dividend of $150 Million Mgmt For For
9 Approve Dividend Policy Mgmt For For
10 Approve Report on Board's Expenses Mgmt For For
Vote for Item 11.a or Item 11.b only; If You Mgmt Vote for Both Items 11.a and 11.b then the Ballot on this Resolution will not Count
11.a Elect Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.b Elect Edward J. Waitzer as Independent Director Mgmt For For
12 Approve Remuneration of Directors Mgmt For For
13 Receive Matters Related to Directors' Mgmt For For Committee, Safety, Health and Environmental Committee, and Corporate Governance Committee
14 Other Business Mgmt For Against
Voter Rationale:
Any Other Business should not be a voting item.
Page 244 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sohu.com Inc.
Meeting Date: 06/16/2016 Country: USA Meeting Type: Annual Ticker: SOHU
Primary ISIN: US83408W1036 Primary SEDOL: 2608123
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Director Charles Zhang 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 for preserving accountability. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
1.2 Elect Director Edward B. Roberts Mgmt For Withhold
Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment.
1.3 Elect Director Zhonghan Deng Mgmt For Withhold
Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: The off-plan awards to certain executives are problematic and not aligned with performance.
3 Ratify PricewaterhouseCoopers Zhong Tian LLP Mgmt For Against as Auditors Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
Standard Bank Group Ltd
Meeting Date: 05/26/2016 Country: South Africa Meeting Type: Annual Ticker: SBK
Primary ISIN: ZAE000109815 Primary SEDOL: B030GJ7
Page 245 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Standard Bank Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2015
2.1 Elect Dr Arno Daehnke as Director Mgmt For For
2.2 Elect Dr Martin Oduor-Otieno as Director Mgmt For For
2.3 Re-elect Myles Ruck as Director Mgmt For For
2.4 Re-elect Peter Sullivan as Director Mgmt For For
2.5 Re-elect Wenbin Wang as Director Mgmt For For
2.6 Re-elect Ted Woods as Director Mgmt For For
3.1 Reappoint KPMG Inc as Auditors of the Mgmt For For Company
3.2 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company
4 Place Authorised but Unissued Ordinary Shares Mgmt For For under Control of Directors
5 Place Authorised but Unissued Non-redeemable Mgmt For For Preference Shares under Control of Directors
6 Approve Remuneration Policy Mgmt For For
7.1 Approve Fees of Chairman Mgmt For For
7.2 Approve Fees of Director Mgmt For For
7.3 Approve Fees of International Director Mgmt For For
7.4.1 Approve Fees of Directors' Affairs Committee Mgmt For For Chairman
7.4.2 Approve Fees of Directors' Affairs Committee Mgmt For For Member
7.5.1 Approve Fees of Risk and Capital Management Mgmt For For Committee Chairman
7.5.2 Approve Fees of Risk and Capital Management Mgmt For For Committee Member
7.6.1 Approve Fees of Remuneration Committee Mgmt For For Chairman
7.6.2 Approve Fees of Remuneration Committee Mgmt For For Member
7.7.1 Approve Fees of Social and Ethics Committee Mgmt For For Chairman
7.7.2 Approve Fees of Social and Ethics Committee Mgmt For For Member
Page 246 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Standard Bank Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.8.1 Approve Fees of Audit Committee Chairman Mgmt For For
7.8.2 Approve Fees of Audit Committee Member Mgmt For For
7.9.1 Approve Fees of IT Committee Chairman Mgmt For For
7.9.2 Approve Fees of IT Committee Member Mgmt For For
7.10 Approve Ad hoc Meeting Attendance Fees Mgmt For For
8 Authorise Repurchase of Issued Ordinary Share Mgmt For For Capital
9 Authorise Repurchase of Issued Preference Mgmt For For Share Capital
10 Approve Financial Assistance to Related or Mgmt For Against Inter-related Companies Voter Rationale:
Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
Sunny Optical Technology Group Co., Ltd.
Meeting Date: 05/19/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 2382
Primary ISIN: KYG8586D1097 Primary SEDOL: B1YBT08
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Ye Liaoning as Director Mgmt For For
3b Elect Wang Wenjie as Director Mgmt For For
3c Elect Zhang Yuqing as Director Mgmt For For
3d Elect Feng Hua Jun as Director Mgmt For For
3e Elect Shao Yang Dong as Director Mgmt For For
3f Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as External Mgmt For For Auditor and Authorize Board to Fix Their Remuneration
Page 247 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sunny Optical Technology Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
Sunway Berhad
Meeting Date: 06/16/2016 Country: Malaysia Meeting Type: Annual Ticker: SUNWAY
Primary ISIN: MYL5211OO007 Primary SEDOL: B6VGS93
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Directors Mgmt For For
2 Elect Lim Swe Guan as Director Mgmt For For
3 Elect Jeffrey Cheah Fook Ling as Director Mgmt For For
4 Elect Razman M Hashim as Director Mgmt For For
Voter Rationale:
Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
5 Elect Chew Chee Kin as Director Mgmt For For
Voter Rationale:
Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
6 Elect Wong Chin Mun as Director Mgmt For For
7 Elect Lin See Yan as Director Mgmt For For
8 Approve BDO as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
9 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
10 Approve Implementation of Shareholders' Mgmt For For Mandate for Recurrent Related Party Transactions
11 Authorize Share Repurchase Program Mgmt For For
Page 248 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Sunway Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Approve Issuance of Shares Under the Dividend Mgmt For For Reinvestment Scheme
Suzano Papel e Celulose S.A.
Meeting Date: 04/25/2016 Country: Brazil Meeting Type: Annual Ticker: SUZB5
Primary ISIN: BRSUZBACNPA3 Primary SEDOL: B02GKF0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Director Nominated by Preferred SH None Abstain Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
2 Elect Fiscal Council Member Nominated by SH None Abstain Preferred Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot..
Syndicate Bank Ltd.
Meeting Date: 04/30/2016 Country: India Meeting Type: Special Ticker: 532276
Primary ISIN: INE667A01018 Primary SEDOL: 6674001
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Issuance of Equity Shares to Mgmt For For Government of India
Syndicate Bank Ltd.
Meeting Date: 06/24/2016 Country: India Meeting Type: Annual Ticker: 532276
Primary ISIN: INE667A01018 Primary SEDOL: 6674001
Page 249 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Syndicate Bank Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 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.
Taiwan Semiconductor Manufacturing Co., Ltd.
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 2330
Primary ISIN: TW0002330008 Primary SEDOL: 6889106
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Profit Distribution Mgmt For For
4 Transact Other Business (Non-Voting) Mgmt
Taiwan Semiconductor Manufacturing Co., Ltd.
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 2330
Primary ISIN: TW0002330008 Primary SEDOL: 6889106
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Amend Articles of Association Mgmt For For
2.1 Approve Business Operations Report and Mgmt For For Financial Statements
Page 250 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Taiwan Semiconductor Manufacturing Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.2 Approve Profit Distribution Mgmt For For
Tata Consultancy Services Ltd.
Meeting Date: 06/17/2016 Country: India Meeting Type: Annual Ticker: 532540
Primary ISIN: INE467B01029 Primary SEDOL: B01NPJ1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Interim Dividend and Declare Final Mgmt For For Dividend
3 Reelect Ishaat Hussain as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Approve Deloitte Haskins & Sells LLP as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Appoint Branch Auditors and Authorize Board to Mgmt For For Fix Their Remuneration
Tatneft PJSC
Meeting Date: 06/24/2016 Country: Russia Meeting Type: Annual Ticker: TATN
Primary ISIN: RU0009033591 Primary SEDOL: B59BXN2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income Mgmt For For
4 Approve Dividends Mgmt For For
Page 251 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Elect 14 Directors by Cumulative Voting Mgmt
5.1 Elect Radik Gayzatullin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.2 Elect Nail Ibragimov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.3 Elect Laszlo Gerecs as Director Mgmt None For
5.4 Elect Rustam Khalimov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Azat Khamaev as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.6 Elect Rais Khisamov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Yury Levin as Director Mgmt None For
5.8 Elect Nail Maganov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.9 Elect Renat Muslimov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.10 Elect Rinat Sabirov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 252 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.11 Elect Valery Sorokin as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.12 Elect Rene Steiner as Director Mgmt None For
5.13 Elect Shafagat Takhautdinov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.14 Elect Rafail Nurmuhametov as Director Mgmt None Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Eight Members of Audit Commission Mgmt
6.1 Elect Kseniya Borzunova as Member of Audit Mgmt For For Commission
6.2 Elect Ranilya Gizatova as Member of Audit Mgmt For For Commission
6.3 Elect Nazilya Farkhutdinova as Member of Audit Mgmt For For Commission
6.4 Elect Taskirya Nurahkmetova as Member of Mgmt For For Audit Commission
6.5 Elect Gusel Gilfanova as Member of Audit Mgmt For For Commission
6.6 Elect Oleg Matveev as Member of Audit Mgmt For For Commission
6.7 Elect Liliya Rakhimzyanova as Member of Audit Mgmt For For Commission
6.8 Elect Tatyana Tsyganova as Member of Audit Mgmt For For Commission
7 Ratify Auditor Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
8 Approve New Edition of Charter Mgmt For For
9 Approve New Edition of Regulations on General Mgmt For For Meetings
10 Approve New Edition of Regulations on Board of Mgmt For For Directors
11 Approve New Edition of Regulations on General Mgmt For For Director
Page 253 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Approve New Edition of Regulations on Mgmt For For Management
Tauron Polska Energia SA
Meeting Date: 06/08/2016 Country: Poland Meeting Type: Annual Ticker: TPE
Primary ISIN: PLTAURN00011 Primary SEDOL: B5P7L41
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Management Proposals Mgmt
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Waive Secrecy for Elections of Members of Vote Mgmt For For Counting Commission
6 Elect Members of Vote Counting Commission Mgmt For For
7 Receive Reports on Company's and Group's Mgmt Standing in Fiscal 2015
8.1 Receive Supervisory Board Report on Its Mgmt Activities, Company's Standing, Internal Control System, Risk Management and Board's Committees in Fiscal 2015
8.2 Receive Supervisory Board Report on Board's Mgmt Review of Consolidated Financial Statements and Management Board Report on Group's Operations in Fiscal 2015
8.3 Receive Supervisory Board Report on Board's Mgmt Review of Financial Statements, Management Board's Report on Company's Operations in 2015, and Proposal on Allocation of Income
9 Approve Consolidated Financial Statements for Mgmt For For Fiscal 2015
10 Approve Management Board Report on Group's Mgmt For For Operations in Fiscal 2015
11 Approve Financial Statements for Fiscal 2015 Mgmt For For
12 Approve Management Board Report on Mgmt For For Company's Operations in Fiscal 2015
Page 254 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tauron Polska Energia SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13 Approve Treatment of Net Loss for Fiscal 2015 Mgmt For For
14 Approve Dividends of PLN 0.10 per Share Mgmt For For
15.1 Approve Discharge of Remigiusz Nowakowski Mgmt For For (CEO)
15.2 Approve Discharge of Jaroslaw Broda (Deputy Mgmt For For CEO)
15.3 Approve Discharge of Kamil Kaminski (Deputy Mgmt For For CEO)
15.4 Approve Discharge of Piotr Zawistowski (Deputy Mgmt For For CEO)
15.5 Approve Discharge of Dariusz Lubera (CEO) Mgmt For For
15.6 Approve Discharge of Aleksander Grad (Deputy Mgmt For For CEO)
15.7 Approve Discharge of Katarzyna Rozenfeld Mgmt For For (Deputy CEO)
15.8 Approve Discharge of Stanislaw Tokarski Mgmt For For (Deputy CEO)
15.9 Approve Discharge of Krzysztof Zawadzki Mgmt For For (Deputy CEO)
15.10 Approve Discharge of Jerzy Kurella (Deputy Mgmt For For CEO)
15.11 Approve Discharge of Henryk Borczyk (Deputy Mgmt For For CEO)
15.12 Approve Discharge of Michal Gramatyka Mgmt For For (Deputy CEO)
15.13 Approve Discharge of Piotr Kolodziej (Deputy Mgmt For For CEO)
15.14 Approve Discharge of Anna Strizyk (Deputy Mgmt For For CEO)
16.1 Approve Discharge of Beata Chlodzinska Mgmt For For (Supervisory Board Chairman)
16.2 Approve Discharge of Anna Mank (Supervisory Mgmt For For Board Member)
16.3 Approve Discharge of Jacek Szyke (Supervisory Mgmt For For Board Member)
16.4 Approve Discharge of Anna Biesialska Mgmt For For (Supervisory Board Member)
16.5 Approve Discharge of Michal Czarnik Mgmt For For (Supervisory Board Member)
16.6 Approve Discharge of Maciej Konski Mgmt For For (Supervisory Board Member)
16.7 Approve Discharge of Leszek Koziorowski Mgmt For For (Supervisory Board Member)
Page 255 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tauron Polska Energia SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
16.8 Approve Discharge of Wojciech Myslecki Mgmt For For (Supervisory Board Member)
16.9 Approve Discharge of Renata Wiernik-Gizicka Mgmt For For (Supervisory Board Member)
16.10 Approve Discharge of Antoni Tajdus Mgmt For For (Supervisory Board Member)
16.11 Approve Discharge of Agnieszka Wos Mgmt For For (Supervisory Board Member)
16.12 Approve Discharge of Andrzej Gorgol Mgmt For For (Supervisory Board Member)
16.13 Approve Discharge of Michal Michalewski Mgmt For For (Supervisory Board Member)
16.14 Approve Discharge of Marek Sciazko Mgmt For For (Supervisory Board Member)
16.15 Approve Discharge of Maciej Tybura Mgmt For For (Supervisory Board Member)
16.16 Approve Discharge of Jaroslaw Zagorowski Mgmt For For (Supervisory Board Member)
16.17 Approve Discharge of Grzegorz Barszcz Mgmt For For (Supervisory Board Member)
16.18 Approve Discharge of Piotr Ciach (Supervisory Mgmt For For Board Member)
16.19 Approve Discharge of Katarzyna Kosinska Mgmt For For (Supervisory Board Member)
17 Amend Statute Mgmt For For
18 Amend Regulations on General Meetings Mgmt For For
19 Fix Number of Supervisory Board Members Mgmt For For
Shareholder Proposal Mgmt
20 Approve Changes in Composition of Supervisory SH None Against Board Voter Rationale: The proponent has not provided any additional information, and therefore this shareholder proposal does not merit approval.
Management Proposal Mgmt
21 Close Meeting Mgmt
Techtronic Industries Co., Ltd.
Meeting Date: 05/20/2016 Country: Hong Kong Meeting Type: Annual Ticker: 669
Primary ISIN: HK0669013440 Primary SEDOL: B0190C7
Page 256 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Techtronic Industries Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Patrick Kin Wah Chan as Director Mgmt For For
3b Elect Roy Chi Ping Chung as Director Mgmt For For
3c Elect Camille Jojo as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3d Elect Christopher Patrick Langley as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness
3e Elect Manfred Kuhlmann as Director Mgmt For For
3f Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale: F&C does not currently advocate a specific term limit for auditors, but we are increasingly aware that there is value in gaining new perspectives on finances and controls. Companies who have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 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.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 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.
Teco Electric & Machinery Co. Ltd.
Meeting Date: 06/16/2016 Country: Taiwan Meeting Type: Annual Ticker: 1504
Primary ISIN: TW0001504009 Primary SEDOL: 6879851
Page 257 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Teco Electric & Machinery Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
BY-ELECT INDEPENDENT DIRECTOR VIA Mgmt CUMULATIVE VOTING
4.1 Elect JHENG,DING-WANG as Independent Mgmt For For Director
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Independent Director
Telefonica Brasil S.A.
Meeting Date: 04/28/2016 Country: Brazil Meeting Type: Annual Ticker: VIVT4
Primary ISIN: BRVIVTACNPR7 Primary SEDOL: B3ZCNF7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Director Nominated by Preferred SH None Abstain Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot
2 Elect Fiscal Council Member(s) Nominated by SH None Abstain Preferred Shareholders Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot
Telesites S.A.B. de C.V.
Meeting Date: 04/28/2016 Country: Mexico Meeting Type: Special Ticker: SITES L
Primary ISIN: MX01SI080020 Primary SEDOL: BDCD6L0
Page 258 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Telesites S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Series L Shareholders Mgmt
1 Approve Conversion of Series L Shares into Mgmt For For Series B-1 Shares and Amend Bylaws Accordingly
2 Ratify Directors Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Tencent Holdings Ltd.
Meeting Date: 05/18/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 700
Primary ISIN: KYG875721634 Primary SEDOL: BMMV2K8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Jacobus Petrus (Koos) Bekker as Director Mgmt For For
3b Elect Ian Charles Stone as Director Mgmt For For
3c Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Page 259 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
The Bidvest Group Ltd
Meeting Date: 05/16/2016 Country: South Africa Meeting Type: Special Ticker: BVT
Primary ISIN: ZAE000117321 Primary SEDOL: 6100089
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Special Resolutions Mgmt
1 Approve the Unbundling in Terms of Section 112 Mgmt For For of the Companies Act
2 Amend The Bidvest Incentive Scheme Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
3 Approve the Bidvest Group Share Appreciation Mgmt For For Rights Plan
Ordinary Resolution Mgmt
1 Authorise Ratification of Approved Resolutions Mgmt For For
Tianneng Power International Ltd
Meeting Date: 05/18/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 819
Primary ISIN: KYG8655K1094 Primary SEDOL: B1XDJC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Chen Minru as Director and Authorize Mgmt For For Board to Fix His Remuneration
3b Elect Zhang Kaihong as Director and Authorize Mgmt For For Board to Fix His Remuneration
3c Elect Shi Borong as Director and Authorize Mgmt For For Board to Fix His Remuneration
3d Elect Guo Konghui as Director and Authorize Mgmt For For Board to Fix His Remuneration
3e Elect Wu Feng as Director and Authorize Board Mgmt For For to Fix His Remuneration
Page 260 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tianneng Power International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5A 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.
5B Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
Tim Participacoes S.A.
Meeting Date: 04/12/2016 Country: Brazil Meeting Type: Annual/Special Ticker: TIMP3
Primary ISIN: BRTIMPACNOR1 Primary SEDOL: 2292560
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members and Alternates Mgmt For For
4 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Special Meeting Mgmt
1 Approve Prolonging of Cooperation and Support Mgmt For For Agreement between Telecom Italia S.p.A and TIM Celular S.A. and Intelig Telecomunicacoes Ltda
2 Change Location of Company Headquarters and Mgmt For For Amend Bylaws Accordingly
Page 261 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tingyi (Cayman Islands) Holding Corp.
Meeting Date: 06/03/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 322
Primary ISIN: KYG8878S1030 Primary SEDOL: 6903556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Teruo Nagano as Director and Authorize Mgmt For For Board to Fix His Remuneration
4 Elect Koji Shinohara as Director and Authorize Mgmt For For Board to Fix His Remuneration
5 Elect Hsu Shin-Chun as Director and Authorize Mgmt For Against Board to Fix His Remuneration Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Approve Mazars CPA Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
7 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.
8 Authorize Repurchase of Issued Share Capital Mgmt For For
9 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.
TISCO Financial Group Public Co Ltd
Meeting Date: 04/21/2016 Country: Thailand Meeting Type: Annual Ticker: TISCO
Primary ISIN: TH0999010Z03 Primary SEDOL: B3L0Q89
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Approve Business Activity Mgmt For For
Page 262 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
TISCO Financial Group Public Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payments
5.1 Fix Number of Directors at 12 Mgmt For For
5.2A Elect Pliu Mangkornkanok as Director Mgmt For For
5.2B Elect Hon Kit Shing as Director Mgmt For Against
Voter Rationale:
The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
5.2C Elect Oranuch Apisaksirikul as Director Mgmt For For
5.2D Elect Angkarat Priebjrivat as Director Mgmt For For
5.2E Elect Pranee Tinakorn as Director Mgmt For For
5.2F Elect Patareeya Benjapolchai as Director Mgmt For For
5.2G Elect Panada Kanokwat as Director Mgmt For For
5.2H Elect Teerana Bhongmakapat as Director Mgmt For For
5.2I Elect Sathit Aungmanee as Director Mgmt For Against
Voter Rationale:
The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.2J Elect Yasuro Yoshikoshi as Director Mgmt For For
5.2K Elect Chi-Hao Sun as Director Mgmt For For
5.2L Elect Suthas Ruangmanamongkol as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve EY Office Ltd. as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
TMK PAO
Meeting Date: 06/08/2016 Country: Russia Meeting Type: Annual Ticker: TMKS
Primary ISIN: RU000A0B6NK6 Primary SEDOL: B590TG4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR/GDR Holders Mgmt
Page 263 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
TMK PAO
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report and Financial Mgmt For For Statements
2 Approve Allocation of Income Mgmt For For
Elect 11 Directors by Cumulative Voting Mgmt
3.1 Elect Mikhail Alekseev as Director Mgmt None For
3.2 Elect Andrey Kaplunov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.3 Elect Sergey Kravchenko as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.4 Elect Peter O`Brien as Director Mgmt None For
3.5 Elect Sergey Papin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.6 Elect Dmitry Pumpyansky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.7 Elect Robert Foresman as Director Mgmt None For
3.8 Elect Igor Khmelevsky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.9 Elect Anatoly Chubays as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.10 Elect Aleksandr Shiryayev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 264 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
TMK PAO
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.11 Elect Aleksandr Shokhin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.12 Elect Oleg Shchegolev as Director Mgmt None For
Elect Three Members of Audit Commission Mgmt
4.1 Elect Aleksandr Maksimenko as Member of Audit Mgmt For For Commission
4.2 Elect Aleksandr Vorobyev as Member of Audit Mgmt For For Commission
4.3 Elect Nina Pozdnyakova as Member of Audit Mgmt For For Commission
5 Ratify Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Approve New Edition of Charter Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.1 Approve Related-Party Transactions Re: Loan Mgmt For For Agreements
7.2 Approve Related-Party Transactions Re: Loan Mgmt For For Agreements
7.3 Approve Related-Party Transactions with PJSC Mgmt For For Seversky Tube Works Re: Supply Agreements
7.4 Approve Related-Party Transactions with PJSC Mgmt For For Sinarsky Pipe Plant Re: Supply Agreements
7.5 Approve Related-Party Transactions with PJSC Mgmt For For Taganrog Metallurgical Works Re: Supply Agreements
7.6 Approve Related-Party Transactions with PJSC Mgmt For For Volzhsky Pipe Plant Re: Supply Agreements
7.7 Approve Related-Party Transactions with JSC Mgmt For For Absolut Bank Re: Master Agreement
7.8 Approve Related-Party Transactions with VTB Mgmt For For Bank Re: Guarantee Agreement
7.9 Approve Related-Party Transactions with JSC Mgmt For For Alfa Bank Re: Supplementary Agreement to Guarantee Agreement
7.10 Approve Related-Party Transactions with JSC Mgmt For For Alfa Bank Re: Supplementary Agreement to Guarantee Agreement
7.11 Approve Related-Party Transactions with JSC Mgmt For For Alfa Bank Re: Supplementary Agreement to Guarantee Agreement
Page 265 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
TMK PAO
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.12 Approve Related-Party Transactions with JSC Mgmt For For Alfa Bank Re: Supplementary Agreement to Guarantee Agreement
7.13 Approve Related-Party Transactions with JSC Mgmt For For Magnitogorsk Metallurgical Works Re: Guarantee Agreement
7.14 Approve Related-Party Transaction Re: Purchase Mgmt For Against of Shares Voter Rationale: We voted against because the there is insufficient detail about the terms of the proposed transaction.
Top Glove Corporation Bhd
Meeting Date: 06/24/2016 Country: Malaysia Meeting Type: Special Ticker: TOPGLOV
Primary ISIN: MYL7113OO003 Primary SEDOL: B05L892
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
Travelsky Technology Limited
Meeting Date: 06/28/2016 Country: China Meeting Type: Annual Ticker: 696
Primary ISIN: CNE1000004J3 Primary SEDOL: 6321954
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2015 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2015 Audited Financial Statements of Mgmt For For the Group Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 266 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Travelsky Technology Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Allocation of Profit and Distribution of Mgmt For For Final Dividend
5 Approve Baker Tilly Hong Kong and Baker Tilly Mgmt For For China as International and China Auditors, Respectively, and Authorize Board to Fix Their Remuneration
6 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.
7 Authorize Repurchase of Issued H Share Capital Mgmt For For
Travelsky Technology Limited
Meeting Date: 06/28/2016 Country: China Meeting Type: Special Ticker: 696
Primary ISIN: CNE1000004J3 Primary SEDOL: 6321954
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued H Share Capital Mgmt For For
Tsingtao Brewery Co., Ltd.
Meeting Date: 06/16/2016 Country: China Meeting Type: Annual Ticker: 168
Primary ISIN: CNE0000009Y3 Primary SEDOL: 6902854
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2015 Work Report of the Board of Mgmt For For Directors
2 Approve 2015 Report of the Board of Mgmt For For Supervisors
Page 267 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tsingtao Brewery Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve 2015 Financial Statements Report Mgmt For For
4 Approve 2015 Profit Distribution Plan Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For Against LLP as Auditor and Authorize Board to Fix Their Remuneration Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm. Furthermore, fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For Against LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration Voter Rationale:
Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm. Furthermore, fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Elect Fan Wei as Director Mgmt For For
8 Elect Ryoichi Kitagawa as Supervisor Mgmt For For
Tung Thih Electronic Co., Ltd.
Meeting Date: 06/24/2016 Country: Taiwan Meeting Type: Annual Ticker: 3552
Primary ISIN: TW0003552006 Primary SEDOL: B1YYYZ7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
5 Amend Rules and Procedures for Election of Mgmt For For Directors
6 Other Business Mgmt None Against
Voter Rationale:
Any Other Business should not be a voting item.
Page 268 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Tupras Turkiye Petrol Rafinerileri A.S.
Meeting Date: 04/04/2016 Country: Turkey Meeting Type: Annual Ticker: TUPRS
Primary ISIN: TRATUPRS91E8 Primary SEDOL: B03MYT9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Amend Company Articles Mgmt For For
8 Elect Directors Mgmt For Against
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.
9 Approve Remuneration Policy Mgmt For For
10 Approve Director Remuneration Mgmt For Against
Voter Rationale:
Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
11 Ratify External Auditors Mgmt For Against
Voter Rationale:
Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
12 Receive Information on Charitable Donations for Mgmt For Against 2015 and Approve Upper Limit of the Donations for 2016 Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
14 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
15 Wishes Mgmt
Page 269 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Turk Hava Yollari A.O.
Meeting Date: 04/04/2016 Country: Turkey Meeting Type: Annual Ticker: THYAO
Primary ISIN: TRATHYAO91M5 Primary SEDOL: B03MYK0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Reports Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Approve Director Remuneration Mgmt For Against
8 Indicate Ogun Sanlier as Independent Board Mgmt For For Member
9 Ratify External Auditors Mgmt For Against
10 Approve Profit Distribution Policy Mgmt For For
11 Approve Share Repurchase Program Mgmt For For
12 Approve Remuneration Policy Mgmt For For
13 Receive Information on the Guarantees, Mgmt Pledges, and Mortgages Provided by the Company to Third Parties
14 Receive Information on Charitable Donations for Mgmt For Against 2015 and Approve Upper Limit of the Donations for 2016
15 Wishes Mgmt
UEM Sunrise Berhad
Meeting Date: 05/23/2016 Country: Malaysia Meeting Type: Annual Ticker: UEMS
Primary ISIN: MYL5148OO001 Primary SEDOL: B3FKMY3
Page 270 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
UEM Sunrise Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve First and Final Dividend Mgmt For For
2 Elect Lim Tian Huat as Director Mgmt For For
3 Elect Srikandan Kanagainthiram as Director Mgmt For Against
Voter Rationale:
For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Elect Suseelawati Ungku Omar as Director Mgmt For For
5 Elect Subimal Sen Gupta as Director Mgmt For For
6 Elect Zaida Khalida Shaari as Director Mgmt For Against
Voter Rationale:
For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
7 Elect Philip Sutton Cox as Director Mgmt For For
8 Approve Remuneration of Directors Mgmt For For
9 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
10 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
11 Approve Renewal of Shareholders' Mandate for Mgmt For Against Recurrent Related Party Transactions Voter Rationale:
A vote AGAINST Item 11 is warranted given an independent director of the company is deemed to have material interest in the transactions to be carried out under the existing mandate.
12 Approve New Shareholders' Mandate for Mgmt For For Additional Recurrent Related Party Transactions
Ultrapar Participacoes S.A.
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Annual Ticker: UGP
Primary ISIN: BRUGPAACNOR8 Primary SEDOL: B0FHTN1
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
Page 271 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Ultrapar Participacoes S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Allocation of Income Mgmt For For
3 Approve Remuneration of Company's Mgmt For For Management
4.1 Elect Fiscal Council Members Mgmt For For
4.2 Approve Remuneration of Fiscal Council Mgmt For For Members
Ultrapar Participacoes S.A.
Meeting Date: 04/13/2016 Country: Brazil Meeting Type: Special Ticker: UGP
Primary ISIN: BRUGPAACNOR8 Primary SEDOL: B0FHTN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Re-Ratify Remuneration of Company's Mgmt For For Management for Fiscal Years 2012, 2013 and 2014
Uni-President China Holdings Ltd.
Meeting Date: 05/20/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 220
Primary ISIN: KYG9222R1065 Primary SEDOL: B29MKF5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Su Tsung-Ming as Director Mgmt For Against
Voter Rationale:
The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Elect Chen Johnny as Director Mgmt For For
5 Elect Chen Sun-Te as Director Mgmt For For
Page 272 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Uni-President China Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Elect Fan Ren-Da, Anthony as Director Mgmt For Against
Voter Rationale:
Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
7 Elect Lo Peter as Director Mgmt For For
8 Authorize Board to Fix Remuneration of Mgmt For For Directors
9 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
10 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.
11 Authorize Repurchase of Issued Share Capital Mgmt For For
12 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.
Uni-President Enterprises Corp.
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 1216
Primary ISIN: TW0001216000 Primary SEDOL: 6700393
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Plan on Profit Distribution Mgmt For For
4 Amend Procedures for Lending Funds to Other Mgmt For For Parties
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
5.1 Elect Chih-Hsien Lo, Representing Kao Chyuan Mgmt For Against Inv. Co., Ltd with Shareholder No. 69100090,as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 273 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Uni-President Enterprises Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.2 Elect Shiow-Ling Kao, Representing Kao Chyuan Mgmt For Against Inv. Co., Ltd with Shareholder No. 69100090,as Non-Independent Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.3 Elect Jui-Tang Chen, Representing Kao Chyuan Mgmt For Against Inv. Co., Ltd with Shareholder No. 69100090,as Non-Independent Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Po-Ming Hou with Shareholder No. Mgmt For Against 23100014 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.5 Elect Po-Yu Hou with Shareholder No. 23100013 Mgmt For Against as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Chung-Ho Wu, Representing Young Yun Mgmt For Against Inv. Co., Ltd with Shareholder No. 69102650 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Ping-Chih Wu, Representing Taipo Mgmt For Against Investment Corp with Shareholder No. 69100060 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.8 Elect Chang-Sheng Lin with Shareholder No. Mgmt For Against 15900071 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.9 Elect Hsiu-Jen Liu with Shareholder No. Mgmt For Against 52700020 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.10 Elect Kao-Huei Cheng, Representing Joyful Inv. Mgmt For Against Co., Ltd with Shareholder No. 69100010 as Non-Independent Director Voter Rationale:
The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.11 Elect Yun Lin with ID No. G201060XXX as Mgmt For For Independent Director
5.12 Elect Chao-Tang You with ID No. A120159XXX Mgmt For For as Independent Director
5.13 Elect Hong-Te Lv with ID No. M120426XXX as Mgmt For For Independent Director
Page 274 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Uni-President Enterprises Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
United Development Company PSC
Meeting Date: 05/17/2016 Country: Qatar Meeting Type: Special Ticker: UDCD
Primary ISIN: QA000A0KD6M9 Primary SEDOL: 6651093
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Bylaws to Comply with Commercial Law Mgmt For Against No.11 of 2015 and Corporate Governance Code No.4 of 2014 Voter Rationale:
Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Approve Increase in Limit on Foreign Mgmt For For Shareholdings
United Microelectronics Corp
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 2303
Primary ISIN: TW0002303005 Primary SEDOL: 6916628
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Issuance of Shares via Private Mgmt For For Placement, Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt or Issuance of Overseas or Domestic Convertible Bonds
Page 275 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Vale S.A.
Meeting Date: 04/25/2016 Country: Brazil Meeting Type: Annual/Special Ticker: VALE3
Primary ISIN: BRVALEACNPA3 Primary SEDOL: 2257127
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Agenda Mgmt
1.1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2015
1.2 Approve Allocation of Income Mgmt For For
1.3 Ratify Election of Director and Alternate Mgmt For For
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.
1.4 Elect Fiscal Council Members Mgmt For For
1.5 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale:
We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Special Meeting Agenda Mgmt
2.1 Approve Dividend Distribution Policy Mgmt For For
Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A
Meeting Date: 04/29/2016 Country: Brazil Meeting Type: Annual Ticker: VLID3
Primary ISIN: BRVLIDACNOR5 Primary SEDOL: B13NPP2
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, 2015 Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Remuneration of Company's Mgmt For For Management
4 Elect Fiscal Council Members and Approve their Mgmt For For Remuneration
Page 276 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.1 Elect Fiscal Council Member Appointed by SH None Abstain Minority Shareholder Voter Rationale:
Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot.
Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A
Meeting Date: 06/03/2016 Country: Brazil Meeting Type: Special Ticker: VLID3
Primary ISIN: BRVLIDACNOR5 Primary SEDOL: B13NPP2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 5 to Reflect Changes in Capital Mgmt For For
2 Amend Article 29 Mgmt For For
3 Consolidate Bylaws Mgmt For For
Vanguard International Semiconductor Corp.
Meeting Date: 06/07/2016 Country: Taiwan Meeting Type: Annual Ticker: 5347
Primary ISIN: TW0005347009 Primary SEDOL: 6109677
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan for Profit Distribution Mgmt For For
4 Transact Other Business (Non-Voting) Mgmt
Page 277 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Vedanta Ltd.
Meeting Date: 06/29/2016 Country: India Meeting Type: Annual Ticker: VEDL
Primary ISIN: INE205A01025 Primary SEDOL: 6136040
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Interim Dividend Mgmt For For
3 Reelect Tarun Jain as Director Mgmt For For
4 Approve S.R.Batliboi & Co. LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Approve Remuneration of Cost Auditors Mgmt For For
6 Authorize Issuance of Bonds, Debentures or Mgmt For For Other Debt Securities
7 Approve Waiver of Excess Remuneration of Mgmt For Against Navin Agarwal, Whole-Time Director Voter Rationale:
Executive compensation should be commensurate with a director's role and responsibilities.
Vista Land & Lifescapes, Inc.
Meeting Date: 06/15/2016 Country: Philippines Meeting Type: Annual Ticker: VLL
Primary ISIN: PHY9382G1068 Primary SEDOL: B1Z75R4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Audited Financial Statements for Mgmt For For the Year 2015
2 Ratify All Acts and Resolutions of the Board of Mgmt For For Directors and Management for the Year 2015 Until March 31, 2016
Elect 7 Directors by Cumulative Voting Mgmt
3.1 Elect Manuel B. Villar, Jr. as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 278 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Vista Land & Lifescapes, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.2 Elect Manuel Paolo A. Villar as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.3 Elect Cynthia J. Javarez as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.4 Elect Marcelino C. Mendoza as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.5 Elect Maribeth C. Tolentino as Director Mgmt For Against
Voter Rationale:
Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.6 Elect Marilou O. Adea as Director Mgmt For For
3.7 Elect Ruben O. Fruto as Director Mgmt For For
4 Approve Listing of Additional Issued Shares Mgmt For For
5 Appoint Sycip, Gorres Velayo & Co. as External Mgmt For For Auditors
Want Want China Holdings Ltd.
Meeting Date: 05/06/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 151
Primary ISIN: KYG9431R1039 Primary SEDOL: B2Q14Z3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Tsai Eng-Meng 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.
3b Elect Chan Yu-Feng as Director Mgmt For For
Page 279 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Want Want China Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3c Elect Cheng Wen-Hsien as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3d Elect Chien Wen-Guey as Director Mgmt For Against
Voter Rationale: A vote against is warranted given that Chien Wen-Guey and Lee Kwang-Chou are members of the remuneration committee which awarded excessive discretionary bonus to Tsai Eng-Meng without sufficient justification.
3e Elect Lee Kwang-Chou as Director Mgmt For Against
Voter Rationale: A vote against is warranted given that Chien Wen-Guey and Lee Kwang-Chou are members of the remuneration committee which awarded excessive discretionary bonus to Tsai Eng-Meng without sufficient justification.
3f Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 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.
7 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.
WEG S.A.
Meeting Date: 04/19/2016 Country: Brazil Meeting Type: Annual Ticker: WEGE3
Primary ISIN: BRWEGEACNOR0 Primary SEDOL: 2945422
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, 2015
2 Approve Allocation of Income, Capital Budget, Mgmt For For and Ratify Dividends
3 Elect Directors Mgmt For Abstain
3.1 Elect Wilson Pinto Ferreira Junior as SH None For Independent Director Appointed by Minority Shareholder
4 Approve Remuneration of Company's Mgmt For For Management
Page 280 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
WEG S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Elect Fiscal Council Members Mgmt For Abstain
5.1 Elect Paulo Cesar Simplício da Silva as Fiscal SH None For Council Member and Aramis Sa de Andrade as Alternate Appointed by Minority Shareholder
6 Approve Remuneration of Fiscal Council Mgmt For For Members
7 Designate Newspapers to Publish Company Mgmt For For Announcements
WEG S.A.
Meeting Date: 04/19/2016 Country: Brazil Meeting Type: Special Ticker: WEGE3
Primary ISIN: BRWEGEACNOR0 Primary SEDOL: 2945422
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles 26, 27, 28, 31 and 33 Mgmt For For
2 Consolidate Bylaws Mgmt For For
WEG S.A.
Meeting Date: 06/28/2016 Country: Brazil Meeting Type: Special Ticker: WEGE3
Primary ISIN: BRWEGEACNOR0 Primary SEDOL: 2945422
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Cancel 2011 Stock Option Plan Mgmt For For
2 Amend Article 5 Re: Restricted Stock Plan Mgmt For For
3 Approve Restricted Stock Plan Mgmt For For
Page 281 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
WPG Holdings Co., Ltd.
Meeting Date: 06/22/2016 Country: Taiwan Meeting Type: Annual Ticker: 3702
Primary ISIN: TW0003702007 Primary SEDOL: B0P6L87
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Plan on Profit Distribution Mgmt For For
X5 Retail Group NV
Meeting Date: 05/10/2016 Country: Netherlands Meeting Type: Annual Ticker: FIVE
Primary ISIN: US98387E2054 Primary SEDOL: B07T3T9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Open Meeting Mgmt
2 Receive Report of Management Board Mgmt (Non-Voting)
3a Discuss Remuneration Report Mgmt
3b Receive Explanation on Company's Reserves Mgmt and Dividend Policy
3c Approve Allocation of Income Mgmt For For
3d Adopt Financial Statements and Statutory Mgmt For For Reports
4 Approve Discharge of Management Board Mgmt For For
5 Approve Discharge of Supervisory Board Mgmt For For
6 Elect A. Elinson to Supervisory Board Mgmt For For
7a Adjust Remuneration Policy for Supervisory Mgmt For Against Board Voter Rationale:
Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Page 282 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
X5 Retail Group NV
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7b Approve Remuneration of Supervisory Board in Mgmt For Against 2016 Voter Rationale:
Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
8 Grant Board Authority to Issue Shares Up To 10 Mgmt For For Percent of Issued Capital
9 Authorize Board to Exclude Preemptive Rights Mgmt For For from Share Issuances
10 Authorize Repurchase of Up to 10 Percent of Mgmt For For Issued Share Capital
11 Discuss Appointment of Ernst & Young as Mgmt Auditor for Financial Year 2016
12 Close Meeting Mgmt
Xinyi Solar Holdings Ltd.
Meeting Date: 05/31/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 968
Primary ISIN: KYG9829N1025 Primary SEDOL: BGQYNN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A1 Elect Li Man Yin as Director Mgmt For For
3A2 Elect Lo Wan Sing, Vincent as Director Mgmt For For
3A3 Elect Kan E-ting, Martin as Director Mgmt For For
3B Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale:
Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
5A Authorize Repurchase of Issued Share Capital Mgmt For For
Page 283 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Xinyi Solar Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5B 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.
5C 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.
Yandex NV
Meeting Date: 05/27/2016 Country: Netherlands Meeting Type: Annual Ticker: YNDX
Primary ISIN: NL0009805522 Primary SEDOL: BMSK1G8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Mgmt
1 Adopt Financial Statements Mgmt For For
2 Approve Allocation of Income Mgmt For For
3 Approve Discharge of Board of Directors Mgmt For For
4 Reelect Rogier Rijnja as Non-Executive Director Mgmt For For
5 Reelect Charles Ryan as Non-Executive Director Mgmt For For
6 Reelect Alexander Voloshin as Non-Executive Mgmt For For Director
7 Approve Cancellation of Class C Shares Held in Mgmt For For Treasury
8 Amend Articles to Reflect Changes in Capital Mgmt For For
9 Ratify ZAO Deloitte & Touche CIS as Auditors Mgmt For For
10 Approve 2016 Equity Incentive Plan Mgmt For Against
Voter Rationale:
Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
11 Approve Pledge Agreement Mgmt For For
Page 284 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Yandex NV
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Approve Amendment of General Guidelines for Mgmt For Against Compensation of the Board Voter Rationale:
Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
13 Grant Board Authority to Issue Ordinary and Mgmt For Against Preference Shares 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. Furthermore, this authority can be used as an antitakeover mechanism. Where poison pills are adopted, they should be approved by shareholders prior to deployment, include independent oversight, and be of a limited duration.
14 Authorize Board to Exclude Preemptive Rights Mgmt For Against
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. Furthermore, this authority can be used as an antitakeover mechanism. Where poison pills are adopted, they should be approved by shareholders prior to deployment, include independent oversight, and be of a limited duration.
15 Authorize Repurchase of Share Capital Mgmt For Against
Voter Rationale:
Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
Yeong Guan Energy Technology Group Co., Ltd.
Meeting Date: 06/07/2016 Country: Cayman Islands Meeting Type: Annual Ticker: 1589
Primary ISIN: KYG984291065 Primary SEDOL: B80LWS0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Consolidated Financial Statements
2 Approve Plan for Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
3.1 Elect Jhang Cheng-Long as Independent Mgmt For For Director
3.2 Elect Chen Cing-Hong as Independent Director Mgmt For For
3.3 Elect Wei Jia-Min as Independent Director Mgmt For For
3.4 Elect Non-independent Director No.1 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Page 285 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Yeong Guan Energy Technology Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.5 Elect Non-independent Director No.2 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.6 Elect Non-independent Director No.3 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.7 Elect Non-independent Director No.4 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.8 Elect Non-independent Director No.5 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.9 Elect Non-independent Director No.6 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.10 Elect Non-independent Director No.7 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
3.11 Elect Non-independent Director No.8 SH None Against
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
4 Approve Release of Restrictions on Competitive Mgmt For Against Activities of Newly Appointed Directors
Voter Rationale:
Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5 Approve Change in Registered Capital Mgmt For For
6 Amend Articles of Association Mgmt For For
7 Approve Issuance of Ordinary Shares to Mgmt For Against Participate in the Issuance of Global Depository Receipt and Issuance of Overseas Convertible Bonds 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.
YPF Sociedad Anonima
Meeting Date: 04/29/2016 Country: Argentina Meeting Type: Annual/Special Ticker: YPFD
Primary ISIN: ARP9897X1319 Primary SEDOL: 2983035
Page 286 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
YPF Sociedad Anonima
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Ordinary and Extraordinary Meeting Agenda - Mgmt Items 2, 17, 18, 19, 20 and 21 are Extraordinary
1 Designate Two Shareholders to Sign Minutes of Mgmt For For Meeting
2 Consider Board of Directors' resolutions Mgmt For For regarding the creation of a long-term plan of compensation in shares; Approve Exemption from the preemptive offer of shares to shareholders pursuant to Article 67 of Law No. 26,831
3 Consider Financial Statements and Statutory Mgmt For For Reports
4 Approve Allocation of Income and Dividends Mgmt For Against
Voter Rationale: The company's dividend payouts have consistently fallen below shareholders' expectations.
5 Approve Remuneration of Auditors for Fiscal Mgmt For For Year 2015
6 Extend Appointment of Auditors; Approve Mgmt For For Auditors for Fiscal Year 2016 and Fix Their Remuneration
7 Consider Discharge of Directors and Members of Mgmt For For Internal Statutory Auditors Committee (Comisión Fiscalizadora)
8 Approve Remuneration of Directors Mgmt For For
9 Approve Remuneration of Internal Statutory Mgmt For For Auditors Committee (Comisión Fiscalizadora)
10 Fix Number of Members of Internal Statutory Mgmt For For Auditors Committee (Comisión Fiscalizadora) and Alternates
11 Elect One Member of Internal Statutory Auditors Mgmt Committee (Comisión Fiscalizadora) and Alternate for Class A Shares
12 Elect One Member of Internal Statutory Auditors Mgmt For For Committee (Comisión Fiscalizadora) and Alternate for Class D Shares
13 Fix Number of Directors and Alternates Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
14 Elect One Director and Alternate for Class A Mgmt Shares and Determination of their Tenure
Page 287 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
YPF Sociedad Anonima
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
15 Elect Directors and Their Alternates for Class D Mgmt For For Shares and Determination of their Tenure Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
16 Authorize Advance Remuneration of Directors Mgmt For For and Members of Internal Statutory Auditors Committee (Comisión Fiscalizadora) for Fiscal Year 2016
17 Amend Bylaws Mgmt For For
18 Consider Absorption of Gas Argentino SA and Mgmt For For YPF Inversora Energetica SA
19 Consider Merger Balance Sheets of YPF SA and Mgmt For For Merger Consolidated Balance Sheets of YPF SA, Gas Argentino SA and YPF Inversora Energetica SA
20 Consider Preliminary Merger and Prospect of Mgmt For For Merger by Absorption
21 Authorize Signing on Behalf of the Company of Mgmt For For Definite Merger Agreement
22 Consider Extension of Amount of Global Mgmt For For Program for Issuance of Debt Securities
23 Extend Board's Authority to Set Terms and Mgmt For For Conditions of Negotiable Bond to be Issued by Current Global Program
Yuanta Financial Holding Co Ltd.
Meeting Date: 06/16/2016 Country: Taiwan Meeting Type: Annual Ticker: 2885
Primary ISIN: TW0002885001 Primary SEDOL: 6424110
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Amendments to Articles of Association Mgmt For For
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Plan on Profit Distribution Mgmt For For
4 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
Page 288 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Yuanta Financial Holding Co Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.1 Elect Rong Jou Wang, a Representative of Mgmt For Against Modern Investments Co., Ltd, with Shareholder No. 389144, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.2 Elect Tony Shen, a Representative of Modern Mgmt For Against Investments Co., Ltd, with Shareholder No.389144, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.3 Elect Tony C. Fan, a Representative of Modern Mgmt For Against Investments Co., Ltd, with Shareholder No. 389144, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Michael Ma, a Representative of Tsun Mgmt For Against Chueh Investment Co., Ltd, with Shareholder No. 366956, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.5 Elect Jun Long Fang, a Representative of Tsun Mgmt For Against Chueh Investment Co., Ltd, with Shareholder No.366956, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Yueh Tsang Li, a Representative of Tsun Mgmt For Against Chueh Investment Co., Ltd, with Shareholder No. 366956, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Hsian Dao Chiu, a Representative of Hsu Mgmt For Against Tong Investment Co., Ltd, with Shareholder No. 460173, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.8 Elect Ming Heng Ho, a Representative of Hsu Mgmt For Against Tong Investment Co., Ltd, with Shareholder No. 460173, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.9 Elect Chung Yuan Chen, a Representative of Mgmt For Against Hsu Tong Investment Co., Ltd, with Shareholder No. 460173, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 289 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Yuanta Financial Holding Co Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.10 Elect Ming Ling Hsueh with ID No. B101077XXX Mgmt For For as Independent Director
5.11 Elect Shou Shan Wu with ID No.S102119XXX as Mgmt For For Independent Director
5.12 Elect Lai Ping Chi with ID No. A110352XXX as Mgmt For For Independent Director
5.13 Elect Yin Hua Yeh with ID No. D121009XXX as Mgmt For For Independent Director
Zhejiang Expressway Co., Ltd.
Meeting Date: 05/06/2016 Country: China Meeting Type: Annual Ticker: 576
Primary ISIN: CNE1000004S4 Primary SEDOL: 6990763
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of the Directors Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Report of the Supervisory Committee Mgmt For For
Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
3 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve Final Dividend Mgmt For For
5 Approve 2015 Final Accounts and 2016 Financial Mgmt For For Budget Voter Rationale:
Shareholders should have the right to elect directors annually in order to hold them to account.
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants Hong Kong as the Hong Kong Auditors and Authorize Board to Fix Their Remuneration
7 Approve Pan China Certified Public Accountants Mgmt For For as the PRC Auditors and Authorize Board to Fix Their Remuneration
8 Approve Issuance of Super Short-Term Mgmt For For Commercial Paper and Related Transactions
Page 290 of 291
SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2016 to 06/30/2016
Zhejiang Expressway Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 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.
Zhuzhou CRRC Times Electric Co., Ltd.
Meeting Date: 06/23/2016 Country: China Meeting Type: Annual Ticker: 3898
Primary ISIN: CNE1000004X4 Primary SEDOL: B1L3XL6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2015 Report of the Board of Directors Mgmt For For
2 Approve 2015 Report of the Supervisory Mgmt For For Committee
3 Approve 2015 Audited Consolidated Financial Mgmt For For Statements
4 Approve 2015 Profit Distribution Plan and Final Mgmt For For Dividend
5 Approve Ernst & Young Hua Ming LLP as Mgmt For Against Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Approve 2017-19 CRRC Group Mutual Supply Mgmt For For Agreement and New CRRC Group Caps
7 Elect Liu Ke'an as Director and Approve His Mgmt For For Emolument
8 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.
9 Approve Asset Transfer Agreement Mgmt For For
Page 291 of 291
Time & Life Building 1 Bruton Street 4th Floor London W1J 6TL United Kingdom +44 (0)20 7518 8950
The information, opinions estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time. The report reflects voting instructions given, not votes cast and the information has been provided by an external supplier. BMO Global Asset Management may from time to time deal in investments that may be mentioned herein on behalf of their clients. © 2015 BMO Global Asset Management. All rights reserved. BMO Global Asset Management is a trading name of F&C Management Limited, which is authorised and regulated by the Financial Conduct Authority.