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Proxy Voting Policy

Introduction

In order to assist in the assessment of corporate governance and sustainability issues, Devon subscribes to external corporate governance and sustainability research and data providers. Such external resources contribute to forming a balanced view on voting matters. However, while Devon takes the proxy adviser’s recommendations into account, stewardship activities are not delegated or outsourced to third parties and recommendations are not automatically followed when deciding how to vote.

Process

Devon processes its voting instructions electronically via a third-party proxy voting agent. In some instances, where it is useful, a Devon employee will attend an annual general meeting in person or appoint a representative to attend the meeting and vote on Devon’s behalf.

Stock Lending

Devon does not engage directly in stock lending. However, clients are free to enter into such agreements in accordance with their own policies, including the decision to recall stock. These decisions are taken independently of Devon. On occasion, where clients have engaged in stock lending, Devon has the discretion to discuss with them the option of recalling their stock in order to vote on significant investment-related matters.

Disclaimer
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