Objective
The objective of Cambiar Investors, LLC’s proxy voting process is to maximize the long-term investment performance of our clients.
Policy
It is Cambiar’s policy to vote all proxy proposals in accordance with management recommendations except in instances where the effect of particular resolutions could adversely affect shareholder value. In such cases, it is Cambiar’s policy to vote against these proposals.
Procedure
The procedure for processing proxy ballots is as follows:
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Custodians are directed to send all proxy material to Egan-Jones Proxy Services whom Cambiar Investors, LLC has retained to act as our voting agent.
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The Proxy Administrator reviews the research provided by Egan-Jones for each company meeting and each proposal. If Egan-Jones’ recommendations agree and favor management they are instructed to vote according to management’s recommendations.
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If non-routine proposals or proposals considered to have a potential negative investment performance impact are discovered or Egan-Jones recommends a vote against a management recommendation, the Proxy Administrator will review the particular resolutions with the Portfolio Manager responsible for the investment and instruct Egan-Jones to vote per the Portfolio Manager’s recommendations. Where a material conflict of interest has been identified, Cambiar will notify its clients of said conflict and vote according to Egan-Jones’ recommendations to ensure the best economic interests of its clients are met.
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Egan-Jones provides reports and a record of all accounts and companies voted and provides Cambiar Investors, LLC with monthly and/or quarterly reports as required.
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The Proxy Administrator reviews at least annually with the Portfolio Managers our proxy voting record.
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Copies of this procedure can be obtained free of charge by:
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calling Cambiar Investors, LLC toll-free at 888-673-9950 or
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by visiting our web site at http://www.cambiar.com or
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by writing us at: 2401 E. Second Ave. #400, Denver, CO 80206
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By August 31, each year Cambiar’s annual proxy voting record for the previous 12 months ending June 30 may be obtained free of charge by:
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calling 888-673-9950 or
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by visiting our web site at http://www.cambiar.com or
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by writing us at: 2401 E. Second Ave. #400, Denver, CO 80206
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