Stewardship

At a glance

We leverage our influence as an institutional investor in accordance with the PRI definition of “stewardship”. The PRI defines stewardship as: “The use of influence by institutional investors to maximise overall long-term value including the value of common economic, social and environmental assets, on which returns and clients' and beneficiaries' interests depend.” (see PRI)

MEAG's stewardship concept is based on holding dialogues (engagements) individually or in collaboration, and casting shareholder votes (voting). The goal is to minimise potential ESG risks and promote sustainable development in the portfolio companies.

Engagement

Engagement refers to an action or process in investment management designed to bring about an improvement in how a portfolio company takes ESG criteria into account, by actively taking influence on the portfolio company. MEAG's engagement concept focuses on specific engagement in selected cases and collaborative climate engagement.

Proxy Voting

In addition, MEAG exercises shareholder rights through a proxy at the portfolio companies' shareholder meetings (proxy voting) in order to achieve a sustainable improvement in the portfolio companies' corporate governance and business policies in the interests of the investors. We take environmental, social and governance aspects into account when casting our votes, in order to minimise ESG risks and support the sustainable development of the portfolio companies. Voting behaviour can complement an engagement, and it can also be used as an engagement escalation strategy. Together, engagement and proxy voting are the most important pillars of MEAG's stewardship concept.

Here you can find the Engagement Policy, Proxy Voting Policy and Participation Policy.

2024 - Q1Quarterly Interim Report of MEAG KAG Q1 2024

Proxy Voting Interim Report Q1 2024

2023Annual Report of MEAG KAG according § 134b Abs. 2 and 3 AktG.

MEAG exercise of voting rights at Annual General Meetings 2023

2022Annual Report of MEAG KAG according § 134b Abs. 2 and 3 AktG.

Exercising voting rights is a fundamental part of MEAG's stewardship activities.

MEAG's processes take into account aspects of sustainability (ESG) as well as corporate governance.

MEAG is convinced that responsible management of a company is a key ingredient for the lasting and sustainable value growth of its investments. This is why it is so important to us to represent the interests and exercise the voting rights of our investors in stock companies. MEAG acts solely in the interests of the fund in question and its investors. 

Using defined criteria, MEAG exercises shareholder voting rights by proxy for its investors, either directly or through the voting representative IVOX /GlassLewis. The criteria account for applicable laws, the analysis guidelines for shareholder meetings of the federal association for investment and asset management (Bundesverband Investment und Asset Management (BVI)) and the German Governance Code.

The principles found in the MEAG Co-Determination Policy (s. Internet) serve as the basis for enabling individualised and transparent decisions. This is why MEAG carefully analyses the items on the agenda before every vote in upcoming shareholder meetings.

MEAG exercised voting rights for 103 companies in 2022, voting only if >0.025% of the voting rights were held.

Here is the result of the vote pursuant to § 134b subs. 3 AktG (German Corporations Act).

MEAG Stimmrechtsausübung bei Hauptversammlungen 2022 (Pdf)

2021Annual Report of MEAG KAG according § 134b Abs. 2 and 3 AktG.

Exercising voting rights is a fundamental part of MEAG's stewardship activities.

MEAG's processes take into account aspects of sustainability (ESG) as well as corporate governance.

MEAG is convinced that responsible management of a company is a key ingredient for the lasting and sustainable value growth of its investments. This is why it is so important to us to represent the interests and exercise the voting rights of our investors in stock companies. MEAG acts solely in the interests of the fund in question and its investors. 

Using defined criteria, MEAG exercises shareholder voting rights by proxy for its investors, either directly or through the voting representative IVOX /GlassLewis. The criteria account for applicable laws, the analysis guidelines for shareholder meetings of the federal association for investment and asset management (Bundesverband Investment und Asset Management (BVI)) and the German Governance Code.

The principles found in the MEAG Co-Determination Policy (s. Internet) serve as the basis for enabling individualised and transparent decisions. This is why MEAG carefully analyses the items on the agenda before every vote in upcoming shareholder meetings.

MEAG exercised voting rights for 72 companies in 2021, voting only if >0.05% of the voting rights were held.

Here is the result of the vote pursuant to § 134b subs. 3 AktG (German Corporations Act).

MEAG Stimmrechtsausübung bei Hauptversammlungen 2021 (Pdf)

2020Annual Report of MEAG KAG according § 134b Abs. 2 and 3 AktG.

Exercising voting rights is a fundamental part of MEAG's stewardship activities.

MEAG's processes take into account aspects of sustainability (ESG) as well as corporate governance.

MEAG is convinced that responsible management of a company is a key ingredient for the lasting and sustainable value growth of its investments. This is why it is so important to us to represent the interests and exercise the voting rights of our investors in stock companies. MEAG acts solely in the interests of the fund in question and its investors. 

Using defined criteria, MEAG exercises shareholder voting rights by proxy for its investors, either directly or through the voting representative IVOX /GlassLewis. The criteria account for applicable laws, the analysis guidelines for shareholder meetings of the federal association for investment and asset management (Bundesverband Investment und Asset Management (BVI)) and the German Governance Code.

The principles found in the MEAG Co-Determination Policy (s. Internet) serve as the basis for enabling individualised and transparent decisions. This is why MEAG carefully analyses the items on the agenda before every vote in upcoming shareholder meetings.

MEAG exercised voting rights for 44 companies in 2020, voting only if >0.2% of the voting rights were held.

Here is the result of the vote pursuant to § 134b subs. 3 AktG (German Corporations Act).

 

MEAG exercised voting rights report 2020 (Pdf)