WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
Corporate Governance Program Team: Anne Sheehan, Director of Corporate Governance; Janice Hester-Amey, Portfolio Manager; Brian Rice, Portfolio Manager; Aeisha Mastagni, Investment Officer; Philip Larrieu, Investment Officer; Ly Van, Investment Officer; Travis Antoniono, Investment Officer; Eric Kwong, Investment Officer
During fiscal year 2013-14, CalSTRS staff voted on 74,666 proxy proposals at 7,956 meetings, submitted on behalf of 7,060 corporations that were held in the Global Equity portfolio.
The 74,666 proposals were a 12 percent increase from the 66,670 proposals staff voted on in 2012-13. The 7,956 meetings considered were a 13 percent increase from the 7,045 meetings considered in 2012-13.
The significant increase in the total number of proposals and meetings voted is primarily attributed to CalSTRS’ hiring of new non-U.S. external managers, particularly in the emerging markets in 2013, since the number of foreign proxies voted substantially increased by more than 28 percent.
In fiscal year 2013-14, the total number of proposals and meetings voted was more than 10 percent higher compared to 2012-13, although the number of domestic proposals and meetings voted decreased by approximately six percent during this time period.
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