Proxy Voting Policy and Procedures
Many Bradley, Foster & Sargent, Inc. clients
have requested that we vote proxies on their behalf
while other clients prefer to undertake the responsibility
themselves. Our Proxy Voting Policy and
Procedures documents Bradley, Foster & Sargent,
Inc.’s policies and procedures for voting
proxies for our clients.
Proxy Voting Policy
Bradley, Foster & Sargent, Inc. strives to
vote proxies in a manner which is in the best interest
of its clients. In general, this means that we
review the proxy material carefully and vote in
the manner which, according to our judgment, will
be most beneficial to the company’s shareholders.
While this often means voting with management,
there are instances when it is in the clients’ best
interest to vote against management. Generally,
the Chief Financial Officer, with the advice
and consent of the President, makes the decision
on how to vote.
We also have established a Proxy Voting Committee
which consists of the President, Chief Financial
Officer, and the Senior Operations Officer. In
cases where it is difficult to decide, or where
possible conflicts of interest occur, the Chief Financial Officer brings the conflict
to the attention of the Proxy Voting Committee.
Examples of such a conflict might include: where
Bradley, Foster & Sargent, Inc. employees have
a close, personal relationship with management;
where a Bradley, Foster & Sargent, Inc. employee
serves on the Board of Directors of the company
in question; or where Bradley, Foster & Sargent,
Inc. manages pension fund assets for the company
in question. Upon thorough review of a proxy in
question, the Proxy Voting Committee will decide
whether to vote for or against management.
Clients Interested in Voting Proxies
If clients who have given the authority to
Bradley, Foster &
Sargent, Inc. to vote proxies on their behalf wish
to change their approach and vote all proxies themselves,
Bradley, Foster & Sargent, Inc. will send, upon
the clients’ request, the appropriate documentation to
the clients so they can vote proxies themselves.
Disclosure of Proxy Voting Record
Bradley, Foster & Sargent, Inc. is obligated
to disclose how it has voted on any particular
proxy to any client upon his or her written request.
To obtain this information, clients are requested
to contact Stephen L. Willcox by mail at Bradley,
Foster & Sargent, Inc., CityPlace II, 11th Floor, 185 Asylum
Street, Hartford, CT 06103, by email at
or by telephone at (860) 241-4626.
Recordkeeping
Bradley, Foster & Sargent, Inc. maintains
proxy voting records at its office in Hartford
for at least two years and in another facility with
reasonable access for an additional three years.
Disclosure of Proxy Voting Policies
Bradley, Foster & Sargent, Inc. discloses
its Proxy Voting Policy and Procedures in SEC Form
ADV, Part II, Schedule F, Item #1.D.
We may amend our Proxy Voting Policy and Procedures
from time to time. As required by law, we will
send our current clients any such changes.
