Reo@ Voting Report
The SEI Emerging Markets Equity Fund
VOTING RECORDS
FROM:01/10/2018 TO: 31/12/2018
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
African Rainbow Minerals Ltd.
Meeting Date: 12/07/2018 Country: South Africa
Meeting Type: Annual Ticker: ARI
Primary ISIN: ZAE000054045 Primary SEDOL: 6041122
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Re-elect Dr Manana Bakane-Tuoane as Director 1
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Re-elect Anton Botha as Director 2
Mgmt For For Re-elect Tom Boardman as Director 3
Mgmt Against For Re-elect Mangisi Gule as Director 4
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt Against For Re-elect Alex Maditsi as Director 5
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Elect Abigail Mukhuba as Director 6
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
Mgmt For For Reappoint Ernst & Young Inc as Auditors of the Company with L Tomlinson as the Designated Auditor
7
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Re-elect Tom Boardman as Chairman of the Audit and Risk Committee
8.1
Mgmt Against For Re-elect Dr Manana Bakane-Tuoane as Member of the Audit and Risk Committee
8.2
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Re-elect Anton Botha as Member of the Audit and Risk Committee
8.3
Mgmt Against For Re-elect Alex Maditsi as Member of the Audit and Risk Committee
8.4
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Re-elect Kobus Moller as Member of the Audit and Risk Committee
8.5
Page 1 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
African Rainbow Minerals Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Re-elect Dr Rejoice Simelane as Member of the
Audit and Risk Committee 8.6
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Approve Conditional Share Plan 9
Mgmt For For Approve Remuneration Policy 10
Mgmt Against For Approve Remuneration Implementation Report 11
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Mgmt For For Place Authorised but Unissued Shares under Control of Directors
12
Mgmt For For Authorise Board to Issue Shares for Cash 13
Mgmt For For Approve the Annual Retainer Fees for Non-executive Directors
14.1
Mgmt For For Approve the Fees for Attending Board Meetings 14.2
Mgmt For For Approve the Committee Attendance Fees for Non-executive Directors
15
Mgmt Against For Approve Financial Assistance in Terms of Section 44 of the Companies Act
16
Voter Rationale: Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
Mgmt For For Approve Financial Assistance in Terms of Section 45 of the Companies Act
17
Mgmt For For Authorise Issue of Shares in Connection with the Conditional Share Plan
18
Mgmt For For Authorise Repurchase of Issued Share Capital 19
Agricultural Bank of China
Meeting Date: 11/12/2018 Country: China
Meeting Type: Special Ticker: 1288
Primary ISIN: CNE100000Q43 Primary SEDOL: B60LZR6
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Elect Wang Jingdong as Supervisor 1
Page 2 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Agricultural Bank of China Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Elect Li Wang as Supervisor 2
Mgmt For For Elect Zhang Jie as Supervisor 3
Mgmt For For Elect Liu Hongxia as Supervisor 4
Mgmt For For Approve Final Remuneration Plan of Directors of
the Bank for 2017 5
Mgmt For For Approve Final Remuneration Plan of Supervisors
of the Bank for 2017 6
Mgmt For For Approve the 2019-2021 Capital Planning of the
Bank 7
Mgmt For For Approve the Issuance Plan of Eligible Tier-2
Capital Instruments of the Bank 8
Air China Ltd.
Meeting Date: 10/19/2018 Country: China
Meeting Type: Special Ticker: 753
Primary ISIN: CNE1000001S0 Primary SEDOL: B04KNF1
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve Disposal Agreement and Related Transactions
1
Mgmt For For Amend Articles of Association 2
Air China Ltd.
Meeting Date: 12/18/2018 Country: China
Meeting Type: Special Ticker: 753
Primary ISIN: CNE1000001S0 Primary SEDOL: B04KNF1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Page 3 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Air China Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt RESOLUTIONS IN RELATION TO THE CONTINUING CONNECTED TRANSACTION AGREEMENTS, THE TRANSACTIONS CONTEMPLATED THEREUNDER AND THEIR
RESPECTIVE ANNUAL CAPS
Mgmt For For Approve the Government Charter Flight Service
Framework Agreement 1.1
Mgmt For For Approve the Sales Agency Services Framework
Agreement 1.2
Mgmt For For Approve the Comprehensive Services
Framework Agreement 1.3
Mgmt For For Approve the Properties Leasing Framework
Agreement 1.4
Mgmt For For Approve the Media Services Framework
Agreement 1.5
Mgmt For For Approve the Construction Project Management
Framework Agreement 1.6
A-Living Services Co., Ltd.
Meeting Date: 11/05/2018 Country: China
Meeting Type: Special Ticker: 3319
Primary ISIN: CNE100002RY5 Primary SEDOL: BFWK4M2
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Supplemental Agreement, Revised Annual Caps and Related Transactions
Mgmt For For
Mgmt For For Amend Articles of Association 2
Angang Steel Co., Ltd.
Meeting Date: 12/18/2018 Country: China
Meeting Type: Special Ticker: 347
Primary ISIN: CNE1000001V4 Primary SEDOL: 6015644
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Page 4 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Angang Steel Co., Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Approve Supply of Materials and Services Agreement, Proposed Annual Monetary Caps and Related Transactions
1
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Mgmt Against For Approve Supply of Raw Materials Agreement, Proposed Annual Monetary Caps and Related
Transactions
2
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Mgmt Against For Approve Terms of the Financial Services Agreement and the Proposed Annual Monetary
Caps of Deposit Services
3
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Mgmt Against For Amend Articles of Association 4
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Mgmt Against For Approve the Issue of the Asset-Backed
Securities by the Company 5
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Bid Corp. Ltd.
Meeting Date: 11/27/2018 Country: South Africa
Meeting Type: Annual Ticker: BID
Primary ISIN: ZAE000216537 Primary SEDOL: BZBFKT7
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Ordinary Resolutions Mgmt
Mgmt For For Reappoint KPMG as Auditors of the Company with Mohammed Hassan as the Individual
Registered Auditor
1
Mgmt For For Re-elect Douglas Band as Director 2.1
Mgmt For For Re-elect Bernard Berson as Director 2.2
Mgmt For For Re-elect Nigel Payne as Director 2.3
Mgmt For For Re-elect Paul Baloyi as Member of the Audit and Risk Committee
3.1
Page 5 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Bid Corp. Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Re-elect Nigel Payne as Member of the Audit
and Risk Committee 3.2
Mgmt For For Re-elect Helen Wiseman as Chairman of the
Audit and Risk Committee 3.3
Mgmt For For Approve Remuneration Policy 4.1
Mgmt Against For Approve Implementation of Remuneration Policy 4.2
Voter Rationale: Incentive awards to executives should have clearly disclosed and stretching performance targets to reward strong performance and long-term value creation. Also, the remuneration committee should not allow vesting of incentive awards for below median performance.Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Mgmt For For Place Authorised but Unissued Shares under Control of Directors
5
Mgmt For For Authorise Board to Issue Shares for Cash 6
Mgmt For For Approve Pro Rata Reduction of Stated Capital in lieu of Dividend
7
Mgmt For For Authorise Creation and Issuance of Convertible Debentures or Other Convertible Instruments
8
Mgmt For For Authorise Ratification of Approved Resolutions 9
Mgmt Special Resolutions
Mgmt For For Authorise Repurchase of Issued Share Capital 1
Mgmt For For Approve Fees of the Chairman 2.1
Mgmt For For Approve Fees of the Lead Independent Non-executive Director
2.2
Mgmt For For Approve Fees of the Non-executive Directors (SA)
2.3.1
Mgmt For For Approve Fees of the Non-executive Directors (International)
2.3.2
Mgmt For For Approve Fees of the Audit and Risk Committee Chairman
2.4.1
Mgmt For For Approve Fees of the Audit and Risk Committee Member (SA)
2.4.2
Mgmt For For Approve Fees of the Audit and Risk Committee Member (International)
2.4.3
Mgmt For For Approve Fees of the Remuneration Committee Chairman
2.5.1
Mgmt For For Approve Fees of the Remuneration Committee Member (SA)
2.5.2
Mgmt For For Approve Fees of the Remuneration Committee Member (International)
2.5.3
Mgmt For For Approve Fees of the Nominations Committee Chairman
2.6.1
Page 6 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Bid Corp. Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Fees of the Nominations Committee
Member (SA) 2.6.2
Mgmt For For Approve Fees of the Nominations Committee
Member (International) 2.6.3
Mgmt For For Approve Fees of the Acquisitions Committee
Chairman 2.7.1
Mgmt For For Approve Fees of the Acquisitions Committee
Member (SA) 2.7.2
Mgmt For For Approve Fees of the Acquisitions Committee
Member (International) 2.7.3
Mgmt For For Approve Fees of the Social and Ethics
Committee Chairman 2.8.1
Mgmt For For Approve Fees of the Social and Ethics
Committee Member (SA) 2.8.2
Mgmt For For Approve Fees of the Social and Ethics
Committee Member (International) 2.8.3
Mgmt For For Approve Fees of the Ad hoc Meetings (SA) 2.9.1
Mgmt For For Approve Fees of the Ad hoc Meetings
(International) 2.9.2
Mgmt For For Approve Financial Assistance to Related or
Inter-related Companies and Corporations 3
BK Brasil Operacao e Assessoria a Restaurantes SA
Meeting Date: 11/22/2018 Country: Brazil
Meeting Type: Special Ticker: BKBR3
Primary ISIN: BRBKBRACNOR4 Primary SEDOL: BFB3ZZ2
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Bruno Augusto Sacchi Zaremba as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt For For Change Location of Company Headquarters and
Amend Article 2 Accordingly 2
Mgmt For For Amend Article 15 3
Mgmt For For Amend Article 5 to Reflect Changes in Capital
and Consolidate Bylaws 4
Mgmt For For Designate Newspapers to Publish Company
Announcements 5
Page 7 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Britannia Industries Ltd.
Meeting Date: 10/15/2018 Country: India
Meeting Type: Special Ticker: 500825
Primary ISIN: INE216A01022 Primary SEDOL: 6124777
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Postal Ballot Mgmt
Mgmt For For Approve Sub-Division of Equity Shares 1
Mgmt For For Amend Capital Clause of the Memorandum of Association Re: Sub-Division of Equity Shares
2
Mgmt For For Amend Articles of Association Re: Sub-Division of Equity Shares
3
Mgmt For For Amend Britannia Industries Limited Employee Stock Option Scheme
4
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
CEZ as
Meeting Date: 11/30/2018 Country: Czech Republic
Meeting Type: Special Ticker: CEZ
Primary ISIN: CZ0005112300 Primary SEDOL: 5624030
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Shareholder Proposals Mgmt
SH Against Against Amend Articles of Association Re: Board of
Directors 1.1
Voter Rationale: The proponents are considered to have failed to present a compelling rationale for transfer of powers to approve stock option plan from supervisory board to general meeting or how this would address their performance concerns, and decisions concerning the company's business policy are within the scope of responsibilities of the board of directors. Finally, the names of the directors to be recalled and the names of the nominees to be elected have not been disclosed.
SH Against Against Amend Articles of Association Re: Board of Directors
1.2
SH Against Against Amend Articles of Association Re: Board of Directors
2.1
SH Against Against Amend Articles of Association Re: General Meeting
2.2
SH Against None Approve Changes in Composition of Supervisory Board
3
Page 8 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Chaoda Modern Agriculture Holdings Ltd.
Meeting Date: 12/18/2018 Country: Cayman Islands
Meeting Type: Annual Ticker: 682
Primary ISIN: KYG2046Q1073 Primary SEDOL: 6313490
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
Mgmt For For
Mgmt Against For Elect Kwok Ho as Director 2A
Voter Rationale: A vote AGAINST the election of Kwok Ho, Fung Chi Kin, and Tam Ching Ho is warranted given that they served on the board during the relevant period wherein the company underwent a prolonged trading suspension; and the seriousness of such prolonged trading suspension and the delay in the release of the relevant audit reports, which translates to the board's failure in effectively and promptly addressing accusations of falsifying financial statements.In the absence of any other known issues concerning the other nominees, a vote FOR their election is warranted.
Mgmt Against For Elect Fung Chi Kin as Director 2B
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt Against For Elect Tam Ching Ho as Director 2C
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Elect Chan Yik Pun as Director 2D
Mgmt For For Approve Elite Partners CPA Limited as Auditors
and Authorize Board to Fix Their Remuneration 3
Mgmt For For Authorize Repurchase of Issued Share Capital 4A
Mgmt Against For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights 4B
Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Mgmt Against For Authorize Reissuance of Repurchased Shares 4C
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China High Precision Automation Group Ltd.
Meeting Date: 11/28/2018 Country: Cayman Islands
Meeting Type: Annual Ticker: 591
Primary ISIN: KYG211221091 Primary SEDOL: B4QL6N9
Page 9 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
China High Precision Automation Group Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports Mgmt For Against
Voter Rationale: Given the concerns over the company's financial statements, a vote AGAINST this proposal is warranted.
Mgmt For For Elect Wong Fun Chung as Director 2A1
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability.
Mgmt For For Elect Cheung Chuen as Director 2A2
Mgmt Against For Elect Ji Qin Zhi as Director 2A3
Voter Rationale: The audit committee is responsible for the integrity of the annual report and accounts. Substantial restatements of earnings are indicative of the inadequate oversight and controls by the audit committee.
Mgmt For For Authorize Board to Fix Remuneration of
Directors 2B
Mgmt Against For Approve Pan-China (H.K.) CPA Limited as Auditors and Authorize Board to Fix Their Remuneration
3
Voter Rationale: Given the concerns over the company's financial reporting practices, a vote AGAINST this resolution is warranted.
Mgmt Against For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights 4A
Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Mgmt For For Authorize Repurchase of Issued Share Capital 4B
Mgmt Against For Authorize Reissuance of Repurchased Shares 4C
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Longyuan Power Group Corp. Ltd.
Meeting Date: 12/21/2018 Country: China
Meeting Type: Special Ticker: 916
Primary ISIN: CNE100000HD4 Primary SEDOL: B4Q2TX3
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Baker Tilly China Certified Public Accountants LLP as PRC Auditor and Authorize Audit Committee of the Board to Fix Their
Remuneration
Mgmt For For
Page 10 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
China Petroleum & Chemical Corp.
Meeting Date: 10/23/2018 Country: China
Meeting Type: Special Ticker: 386
Primary ISIN: CNE1000002Q2 Primary SEDOL: 6291819
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Elect Yu Baocai as Director 1
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
Mgmt Against For Approve Renewal of Continuing Connected Transactions for the Three Years Ending 31 December 2021, the Continuing Connected Transactions Fifth Supplemental Agreement and Related Transactions
2
Voter Rationale: In the absence of compelling economic rationale such pooling of the group’s cash through an unlisted financial vehicle may give the parent company control over the listed company’s finances.
China Railway Group Ltd.
Meeting Date: 12/07/2018 Country: China
Meeting Type: Special Ticker: 390
Primary ISIN: CNE1000007Z2 Primary SEDOL: B297KM7
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve the Fulfilment of the Conditions for the Acquisition of Assets by Issuance of Shares of
the Company
1
Mgmt For For Approve the Acquisition of Assets by Issuance of Shares of the Company Not Constituting a
Related Transaction
2
Mgmt RESOLUTIONS RELATING TO THE APPROVAL OF THE PROPOSAL ON THE PLAN FOR THE ACQUISITION OF ASSETS BY ISSUANCE OF SHARES OF THE COMPANY
Mgmt For For Approve Type and Nominal Value of the Shares 3.1
Mgmt For For Approve Way of Issuance 3.2
Page 11 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
China Railway Group Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Targets of Issuance and Way of
Subscription 3.3
Mgmt For For Approve Target Assets to be Acquired in the
Transaction 3.4
Mgmt For For Approve Pricing Basis and Transaction Price of
the Target Assets 3.5
Mgmt For For Approve Pricing Benchmark Date and Issue
Price of the Issuance 3.6
Mgmt For For Approve Number of Shares to be Issued 3.7
Mgmt For For Approve Lock-up Period Arrangement 3.8
Mgmt For For Approve Arrangement Regarding Gain or Loss Relating to Target Assets Incurred During the Period from the Valuation Benchmark Date to the Closing Date of Target Assets
3.9
Mgmt For For Approve Arrangement Regarding the Undistributed Profit Carried forward from the Periods Before the Issuance
3.10
Mgmt For For Approve Transfer of Target Assets and Liability
for Default 3.11
Mgmt For For Approve Share Listing Place 3.12
Mgmt For For Approve Validity of the Resolution 3.13
Mgmt For For Approve the Acquisition of Assets by Issuance of Shares Not Constituting Major Asset Restructuring and Restructuring Listing
4
Mgmt For For Approve the Report (Draft) on the Acquisition of Assets by Issuance of Shares of China Railway Group Limited and Its Summary
5
Mgmt For For Approve Entering into the Conditional Equity
Acquisition Agreements 6
Mgmt For For Approve Entering into the Conditional Supplemental Agreements to the Equity Acquisition Agreements
7
Mgmt For For Approve Relevant Financial Reports and Asset Valuation Reports of the Acquisition of Assets by Issuance of Shares
8
Mgmt For For Approve Impact Analysis on Dilution of Immediate Returns and Remedial Measures of the Asset Restructuring of the Company
9
Mgmt For For Approve the Grant of Authorization to the Board of Directors to Deal with Relevant Matters of the Restructuring
10
SH Against For Approve the Issuance of Domestic and Overseas
Debt Financing Instruments 11
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 12 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Cosan SA
Meeting Date: 11/30/2018 Country: Brazil
Meeting Type: Special Ticker: CSAN3
Primary ISIN: BRCSANACNOR6 Primary SEDOL: B0P72G5
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Ratify SOPARC - Auditores Independentes S.S. Ltda. as the Firm to Appraise Proposed
Transaction
Mgmt For For
Mgmt For For Approve Agreement for Partial Spin-Off of Cosan Lubrificantes e Especialidades S.A. (CLE) and
Absorption of Spun-Off Assets
2
Mgmt For For Approve Independent Firm's Appraisal 3
Mgmt For For Approve Partial Spin-Off of Cosan Lubrificantes e Especialidades S.A. (CLE) and Absorption of
Spun-Off Assets
4
Mgmt For For Authorize Board to Ratify and Execute Approved Resolutions
5
CreditAccess Grameen Ltd.
Meeting Date: 11/21/2018 Country: India
Meeting Type: Annual Ticker: 541770
Primary ISIN: INE741K01010 Primary SEDOL: BYVKG53
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports Mgmt For For
Mgmt Against For Reelect Paolo Brichetti as Director 2
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Approve Remuneration of Statutory Auditors 3
Mgmt For For Approve Increase in Borrowing Powers 4
Mgmt For For Approve Pledging of Assets for Debt 5
Mgmt For For Approve Issuance of Non-Convertible Debentures and/or Bonds on Private Placement Basis
6
Mgmt For For Amend Objects Clause of Memorandum of
Association 7
Page 13 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
CreditAccess Grameen Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Approve Commission to Independent Directors 8
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Mgmt For For Approve Revision in Remuneration of Udaya Kumar Hebbar as Managing Director & Chief
Executive Officer
9
Detsky Mir PJSC
Meeting Date: 12/15/2018 Country: Russia
Meeting Type: Special Ticker: DSKY
Primary ISIN: RU000A0JSQ90 Primary SEDOL: BTSTNQ8
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Meeting Procedures Mgmt For For
Mgmt For For Approve Interim Dividends for First Nine Months
of Fiscal 2018 2
Dino Polska SA
Meeting Date: 11/28/2018 Country: Poland
Meeting Type: Special Ticker: DNP
Primary ISIN: PLDINPL00011 Primary SEDOL: BD0YVN2
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Open Meeting Mgmt
Mgmt For For Elect Meeting Chairman 2
Mgmt Acknowledge Proper Convening of Meeting 3
Mgmt For For Approve Merger by Absorption with Pol-Food Polska Sp. z o.o.
4
Mgmt Close Meeting 5
Page 14 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
ENGIE Brasil Energia SA
Meeting Date: 12/07/2018 Country: Brazil
Meeting Type: Special Ticker: EGIE3
Primary ISIN: BREGIEACNOR9 Primary SEDOL: BD1WX84
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Authorize Capitalization of Reserves for Bonus Issue
Mgmt For For
Mgmt For For Amend Articles 5 and 8 to Reflect Changes in Share Capital and Authorized Capital
Respectively
2
Mgmt For For Consolidate Bylaws 3
Estacio Participacoes SA
Meeting Date: 10/18/2018 Country: Brazil
Meeting Type: Special Ticker: ESTC3
Primary ISIN: BRESTCACNOR5 Primary SEDOL: B23PBF7
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Restricted Stock Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
FirstRand Ltd.
Meeting Date: 11/29/2018 Country: South Africa
Meeting Type: Annual Ticker: FSR
Primary ISIN: ZAE000066304 Primary SEDOL: 6606996
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Ordinary Resolutions Mgmt
Mgmt For For Re-elect Lulu Gwagwa as Director 1.1
Page 15 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
FirstRand Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Re-elect Tandi Nzimande as Director 1.2
Mgmt For For Re-elect Ethel Matenge-Sebesho as Director 1.3
Mgmt Against For Re-elect Paballo Makosholo as Director 1.4
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Elect Tom Winterboer as Director 1.5
Mgmt For For Elect Mary Vilakazi as Director 1.6
Mgmt Against For Re-elect Jannie Durand as Alternate Director 1.7
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Mgmt For For Reappoint Deloitte & Touche as Auditors of the Company
2.1
Mgmt For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company
2.2
Mgmt For For Place Authorised but Unissued Ordinary Shares under Control of Directors
3
Mgmt For For Authorise Board to Issue Shares for Cash 4
Mgmt For For Authorise Ratification of Approved Resolutions 5
Mgmt Advisory Endorsement
Mgmt Against For Approve Remuneration Policy 1
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time.
Mgmt Against For Approve Remuneration Implementation Report 2
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time.
Mgmt Special Resolutions
Mgmt For For Authorise Repurchase of Issued Share Capital 1
Mgmt For For Approve Financial Assistance to Directors and Prescribed Officers as Employee Share Scheme Beneficiaries
2
Mgmt For For Approve Financial Assistance to Related and
Inter-related Entities 3
Mgmt For For Approve Remuneration of Non-executive
Directors 4
Page 16 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Fosun International Ltd.
Meeting Date: 11/27/2018 Country: Hong Kong
Meeting Type: Special Ticker: 656
Primary ISIN: HK0656038673 Primary SEDOL: B1Z7FX0
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Adopt Yuyuan Tranche I Share Option Incentive Scheme
Mgmt For Against
Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Geely Automobile Holdings Ltd.
Meeting Date: 12/07/2018 Country: Cayman Islands
Meeting Type: Special Ticker: 175
Primary ISIN: KYG3777B1032 Primary SEDOL: 6531827
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve the Renewal of Volvo Financing Arrangements, the Annual Caps and Related Transactions
Mgmt For Against
Voter Rationale: A vote AGAINST this resolution is warranted given the Volvo Financing Arrangements would expose the company to unnecessary risks.
Mgmt For For Approve the EV Financing Arrangements, the Annual Caps and Related Transactions
2
Geely Automobile Holdings Ltd.
Meeting Date: 12/07/2018 Country: Cayman Islands
Meeting Type: Special Ticker: 175
Primary ISIN: KYG3777B1032 Primary SEDOL: 6531827
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve the Services Agreement, the Annual Caps and Related Transaction
Mgmt For For
Mgmt For For Approve the Electric Vehicle Agreement, the Annual Caps and Related Transaction
2
Page 17 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Geely Automobile Holdings Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve the Automobile Components Procurement Agreement, the Annual Caps and Related Transaction
3
Mgmt For For Approve the TZ Acquisition Agreement and
Related Transactions 4
Mgmt For For Approve the GZ Acquisition Agreement and
Related Transactions 5
Grand Korea Leisure Co., Ltd.
Meeting Date: 11/26/2018 Country: South Korea
Meeting Type: Special Ticker: 114090
Primary ISIN: KR7114090004 Primary SEDOL: B4347P0
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles of Incorporation Mgmt For For
Mgmt ELECT FOUR INSIDE DIRECTORS FROM SEVEN NOMINEES
Mgmt For For Elect Kang Seong-gil as Inside Director 2.1
Voter Rationale: Votes FOR Kang Seong-gil (Item 2.1), Kim Eung-tae (Item 2.3), Yoon Gyeong-hun (Item 2.5) and Lee Hyeong-ho (Item 2.6) are warranted as there are no identified issues with these nominees and they have experiences in relevant business management. A vote AGAINST the remaining nominees is warranted.
Mgmt Do Not Vote For Elect Kang Seong-wook as Inside Director 2.2
Mgmt For For Elect Kim Eung-tae as Inside Director 2.3
Mgmt Do Not Vote For Elect Song Byeong-gon as Inside Director 2.4
Voter Rationale: Votes FOR Kang Seong-gil (Item 2.1), Kim Eung-tae (Item 2.3), Yoon Gyeong-hun (Item 2.5) and Lee Hyeong-ho (Item 2.6) are warranted as there are no identified issues with these nominees and they have experiences in relevant business management. A vote AGAINST the remaining nominees is warranted.
Mgmt For For Elect Yoon Gyeong-hun as Inside Director 2.5
Mgmt For For Elect Lee Hyeong-ho as Inside Director 2.6
Mgmt Do Not Vote For Elect Hwang In-seok as Inside Director 2.7
Voter Rationale: Votes FOR Kang Seong-gil (Item 2.1), Kim Eung-tae (Item 2.3), Yoon Gyeong-hun (Item 2.5) and Lee Hyeong-ho (Item 2.6) are warranted as there are no identified issues with these nominees and they have experiences in relevant business management. A vote AGAINST the remaining nominees is warranted.
Page 18 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 12/21/2018 Country: China
Meeting Type: Special Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
APPROVE RESOLUTIONS RELATING TO THE ISSUANCE OF NEW H SHARES UNDER SPECIFIC
MANDATE
Mgmt
Mgmt For For Approve Issuer 1a
Mgmt For For Approve Class of Shares to be Issued 1b
Mgmt For For Approve Nominal Value Per Share 1c
Mgmt For For Approve Time of Issuance 1d
Mgmt For For Approve Method of Issuance 1e
Mgmt For For Approve Target Investors 1f
Mgmt For For Approve Pricing Mechanism 1g
Mgmt For For Approve Method of Subscription 1h
Mgmt For For Approve Size of Issuance 1i
Mgmt For For Approve Accumulated Profits 1j
Mgmt For For Approve Use of Proceeds 1k
Mgmt For For Approve Ranking of the New H Shares 1l
Mgmt For For Approve Place of Listing 1m
Mgmt For For Approve Validity Period of the Resolutions 1n
Mgmt For For Authorize Board to Deal with All Matters in Relation to the Issuance of New H Shares
2
Mgmt For For Amend Articles of Association 3
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 12/21/2018 Country: China
Meeting Type: Special Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Page 19 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
Mgmt APPROVE RESOLUTIONS RELATING TO THE ISSUANCE OF NEW H SHARES UNDER SPECIFIC MANDATE
Mgmt For For Approve Issuer 1a
Mgmt For For Approve Class of Shares to be Issued 1b
Mgmt For For Approve Nominal Value Per Share 1c
Mgmt For For Approve Time of Issuance 1d
Mgmt For For Approve Method of Issuance 1e
Mgmt For For Approve Target Investors 1f
Mgmt For For Approve Pricing Mechanism 1g
Mgmt For For Approve Method of Subscription 1h
Mgmt For For Approve Size of Issuance 1i
Mgmt For For Approve Accumulated Profits 1j
Mgmt For For Approve Use of Proceeds 1k
Mgmt For For Approve Ranking of the New H Shares 1l
Mgmt For For Approve Place of Listing 1m
Mgmt For For Approve Validity Period of the Resolutions 1n
Mgmt For For Authorize Board to Deal with All Matters in
Relation to the Issuance of New H Shares 2
Haier Electronics Group Co., Ltd.
Meeting Date: 11/21/2018 Country: Bermuda
Meeting Type: Special Ticker: 1169
Primary ISIN: BMG423131256 Primary SEDOL: B1TL3R8
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve the Asset Swap Agreement and Related Transactions
Mgmt For For
Page 20 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Haier Electronics Group Co., Ltd.
Meeting Date: 11/21/2018 Country: Bermuda
Meeting Type: Special Ticker: 1169
Primary ISIN: BMG423131256 Primary SEDOL: B1TL3R8
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Products Procurement Agreement, Products Procurement Cap and Related
Transactions
Mgmt For For
Mgmt For For Approve Materials Procurement Agreement, Materials Procurement Cap and Related
Transactions
2
Mgmt For For Approve Export Agreement, Export Cap and Related Transactions
3
Haitong Securities Co. Ltd.
Meeting Date: 12/05/2018 Country: China
Meeting Type: Special Ticker: 6837
Primary ISIN: CNE1000019K9 Primary SEDOL: B71SXC4
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve Extension of the Authorization Period for Matters Related to Overseas Listing ofHaitong UniTrust International Leasing Co.,
Ltd.
1
Huatai Securities Co., Ltd.
Meeting Date: 10/22/2018 Country: China
Meeting Type: Special Ticker: 6886
Primary ISIN: CNE100001YQ9 Primary SEDOL: BWVFT00
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Page 21 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Huatai Securities Co., Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve 2018 Interim Profit Distribution Plan 1
Mgmt ELECT NON-INDEPENDENT DIRECTORS VIA
CUMULATIVE VOTING
Mgmt For For Elect Ding Feng as Director 2.1
Mgmt For For Elect Chen Yongbing as Director 2.2
Mgmt For For Elect Hu Xiao as Director 2.3
Mgmt For For Elect Fan Chunyan as Director 2.4
Mgmt For For Elect Zhu Xuebo as Director 2.5
Mgmt ELECT SUPERVISORS VIA CUMULATIVE VOTING
Mgmt For For Elect Chen Ning as Supervisor 3.1
Mgmt For For Elect Yu Lanying as Supervisor 3.2
Mgmt For For Elect Yang Yaling as Supervisor 3.3
Mgmt For For Approve Plan of the AssetMark Overseas Listing 4
Mgmt For For Approve Compliance of the AssetMark Overseas Listing with the Notice on Issues in Relation to Regulating Overseas Listing of Subsidiaries of Domestic Listed Companies
5
Mgmt For For Approve Undertaking of Maintaining
Independent Listing Status of the Company 6
Mgmt For For Approve Description of the Sustainable
Profitability and Prospects of the Company 7
Mgmt For For Approve Authorization Granted to the Board and Its Authorized Party(ies) in Dealing with Matters Regarding the AssetMark Overseas Listing
8
SH For For Approve Report on the Use of the Proceeds Raised in the Previous Issuance of Shares by the Company
9
Mgmt For For Approve Provision of Assured Entitlement Only to H-share Shareholders for the AssetMark Overseas Listing
10
Mgmt Against For Amend Articles of Association Regarding Party
Committee 11
SH For For Approve Issuance and Admission of GDRs 12
SH For For Approve Proposal on the Issuance and
Admission of GDRs 13
SH For For Approve Validity Period of the Resolutions in
Respect of the Issuance and Admission of GDRs 14
Page 22 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Huatai Securities Co., Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
SH For For Approve Authorization to the Board and Such Persons Authorized by the Board to Deal with All Matters in Relation to the Issuance and Admission of GDRs
15
SH For For Approve Distribution of Accumulated Profits
Prior to the Issuance and Admission of GDRs 16
SH For For Approve the Plan for the Use of Proceeds from
the Issuance and Admission of GDRs 17
Huatai Securities Co., Ltd.
Meeting Date: 10/22/2018 Country: China
Meeting Type: Special Ticker: 6886
Primary ISIN: CNE100001YQ9 Primary SEDOL: BWVFT00
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve Provision of Assured Entitlement Only to H-share Shareholders for the AssetMark Overseas Listing
1
SH For For Approve Issuance and Admission of GDRs 2
SH For For Approve Proposal on the Issuance and Admission of GDRs
3
SH For For Approve Validity Period of the Resolutions in Respect of the Issuance and Admission of GDRs
4
SH For For Approve Authorization to the Board and Such Persons Authorized by the Board to Deal with All Matters in Relation to the Issuance and
Admission of GDRs
5
SH For For Approve Distribution of Accumulated Profits Prior to the Issuance and Admission of GDRs
6
SH For For Approve the Plan for the Use of Proceeds from the Issuance and Admission of GDRs
7
Imperial Holdings Ltd.
Meeting Date: 10/30/2018 Country: South Africa
Meeting Type: Special Ticker: IPL
Primary ISIN: ZAE000067211 Primary SEDOL: B095WZ4
Page 23 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Imperial Holdings Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Special Resolutions Mgmt
Mgmt For For Approve Unbundling in Terms of Section 112 of
the Companies Act 1
Mgmt For For Approve Change of Company Name to Imperial Logistics Limited and Amend Memorandum of Incorporation
2
Mgmt Ordinary Resolutions
Mgmt For For Amend Existing Share Schemes 1
Imperial Holdings Ltd.
Meeting Date: 10/30/2018 Country: South Africa
Meeting Type: Annual Ticker: IPL
Primary ISIN: ZAE000067211 Primary SEDOL: B095WZ4
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports for the Year Ended 30 June 2018
Mgmt For For
Mgmt For For Reappoint Deloitte & Touche as Auditors of the Company and Appoint MLE Tshabalala as the
Designated Partner
2
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Re-elect Graham Dempster as Member of the Audit and Risk Committee
3.1
Mgmt For For Re-elect Roddy Sparks as Member of the Audit and Risk Committee
3.2
Mgmt For For Elect Peter Cooper as Member of the Audit and Risk Committee
3.3
Mgmt For For Re-elect Peter Cooper as Director 4.1
Mgmt Against For Re-elect Phumzile Langeni as Director 4.2
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
Mgmt For For Re-elect Thembisa Skweyiya (Dingaan) as
Director 4.3
Page 24 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Imperial Holdings Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Approve Remuneration Policy 5
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Mgmt Against For Approve Implementation of the Remuneration Policy
6
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Mgmt For For Approve Fees of the Chairperson 7.1
Mgmt For For Approve Fees of the Deputy Chairperson and Lead Independent Director
7.2
Mgmt For For Approve Fees of the Board Member 7.3
Mgmt For For Approve Fees of the Assets and Liabilities Committee Chairperson
7.4
Mgmt For For Approve Fees of the Assets and Liabilities Committee Member
7.5
Mgmt For For Approve Fees of the Audit and Risk Committee Chairperson
7.6
Mgmt For For Approve Fees of the Audit and Risk Committee Member
7.7
Mgmt For For Approve Fees of the Divisional Board Member 7.8
Mgmt For For Approve Fees of the Divisional Finance and Risk Committee Member
7.9
Mgmt For For Approve Fees of the Remuneration Committee Chairperson
7.10
Mgmt For For Approve Fees of the Remuneration Committee Member
7.11
Mgmt For For Approve Fees of the Nomination Committee Chairperson
7.12
Mgmt For For Approve Fees of the Nomination Committee Member
7.13
Mgmt For For Approve Fees of the Social, Ethics and Sustainability Committee Chairperson
7.14
Mgmt For For Approve Fees of the Social, Ethics and Sustainability Committee Member
7.15
Mgmt For For Authorise Repurchase of Issued Share Capital 8
Mgmt For For Place Authorised but Unissued Ordinary Shares under Control of Directors
9
Mgmt For For Authorise Board to Issue Shares for Cash 10
Mgmt For For Approve Financial Assistance in Terms of Section 44 of the Companies Act
11
Mgmt For For Approve Financial Assistance in Terms of Section 45 of the Companies Act
12
Page 25 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Inari Amertron Bhd.
Meeting Date: 11/27/2018 Country: Malaysia
Meeting Type: Annual Ticker: 0166
Primary ISIN: MYQ0166OO007 Primary SEDOL: B54JP79
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Directors' Fees Mgmt For For
Mgmt For For Approve Directors' Benefits 2
Mgmt Against For Elect Kemala Pahang Tengku Hajjah Aishah Bte Sultan Haji Ahmad Shah as Director
3
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
Mgmt Against For Elect Thong Kok Khee as Director 4
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
Mgmt For For Elect Wong Gian Kui as Director 5
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
Mgmt For For Elect Phang Ah Tong as Director 6
Mgmt For For Approve Grant Thornton Malaysia as Auditors
and Authorize Board to Fix Their Remuneration 7
Mgmt For For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights 8
Mgmt For For Authorize Share Repurchase Program 9
Mgmt Against For Approve Grant of ESOS Options to Phang Ah
Tong 10
Voter Rationale: Options should be issued at no less than market price, except for an all-employee plan where the discount should not exceed 20% on a fixed date. In addition, Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Industrial & Commercial Bank of China Ltd.
Meeting Date: 11/21/2018 Country: China
Meeting Type: Special Ticker: 1398
Primary ISIN: CNE1000003G1 Primary SEDOL: B1G1QD8
Page 26 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Industrial & Commercial Bank of China Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Elect Zheng Fuqing as Director 1
Mgmt Elect Fei Zhoulin as Director 2
Mgmt For For Elect Nout Wellink as Director 3
Mgmt For For Elect Fred Zuliu Hu as Director 4
Mgmt For For Elect Qu Qiang as Supervisor 5
Mgmt For For Approve the Payment Plan of Remuneration to
Directors for 2017 6
Mgmt For For Approve the Payment Plan of Remuneration to
Supervisors for 2017 7
Mgmt For For Approve Proposal to Issue Eligible Tier 2 Capital
Instruments 8
Mgmt Against For Approve Issuance of Equity or Equity-Linked
Securities without Preemptive Rights 9
Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Mgmt APPROVE PROPOSAL ON THE DOMESTIC PREFERENCE SHARE ISSUANCE PLAN OF THE COMPANY
Mgmt For For Approve Type of Preference Shares to be Issued in Relation to the Domestic Preference Share Issuance Plan of the Company
10.01
Mgmt For For Approve Number of Preference Shares to be Issued and Issue Size in Relation to the Domestic Preference Share Issuance Plan of the Company
10.02
Mgmt For For Approve Method of Issuance in Relation to the Domestic Preference Share Issuance Plan of the Company
10.03
Mgmt For For Approve Par Value and Issue Price in Relation to the Domestic Preference Share Issuance Plan of the Company
10.04
Mgmt For For Approve Maturity in Relation to the Domestic
Preference Share Issuance Plan of the Company 10.05
Mgmt For For Approve Target Investors in Relation to the Domestic Preference Share Issuance Plan of the Company
10.06
Mgmt For For Approve Lock-Up Period in Relation to the Domestic Preference Share Issuance Plan of the Company
10.07
Page 27 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Industrial & Commercial Bank of China Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Terms of Distribution of Dividends in Relation to the Domestic Preference Share Issuance Plan of the Company
10.08
Mgmt For For Approve Terms of Mandatory Conversion in Relation to the Domestic Preference Share Issuance Plan of the Company
10.09
Mgmt For For Approve Terms of Conditional Redemption in Relation to the Domestic Preference Share Issuance Plan of the Company
10.10
Mgmt For For Approve Restrictions on Voting Rights in Relation to the Domestic Preference Share Issuance Plan of the Company
10.11
Mgmt For For Approve Restoration of Voting Rights in Relation to the Domestic Preference Share Issuance Plan of the Company
10.12
Mgmt For For Approve Order of Distribution of Residual Assets and Basis for Liquidation in Relation to the Domestic Preference Share Issuance Plan of the Company
10.13
Mgmt For For Approve Rating in Relation to the Domestic
Preference Share Issuance Plan of the Company 10.14
Mgmt For For Approve Security in Relation to the Domestic
Preference Share Issuance Plan of the Company 10.15
Mgmt For For Approve Use of Proceeds from the Issuance of
the Domestic Preference Shares 10.16
Mgmt For For Approve Transfer in Relation to the Domestic
Preference Share Issuance Plan of the Company 10.17
Mgmt For For Approve Relationship between Domestic and Offshore Issuance in Relation to the Domestic Preference Share Issuance Plan of the Company
10.18
Mgmt For For Approve Validity Period of the Resolution in Respect of the Issuance of the Domestic Preference Shares
10.19
Mgmt For For Approve The Application and Approval Procedures to be Completed for the Issuance in Relation to the Domestic Preference Share Issuance Plan of the Company
10.20
Mgmt For For Approve Matters Relating to Authorisation in Relation to the Domestic Preference Share Issuance Plan of the Company
10.21
Mgmt APPROVE PROPOSAL ON THE OFFSHORE PREFERENCE SHARE ISSUANCE PLAN OF THE COMPANY
Page 28 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Industrial & Commercial Bank of China Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Type of Preference Shares to be Issued in Relation to the Offshore Preference Share Issuance Plan of the Company
11.01
Mgmt For For Approve Number of Preference Shares to be Issued and Issue Size in Relation to the Offshore Preference Share Issuance Plan of the Company
11.02
Mgmt For For Approve Method of Issuance in Relation to the Offshore Preference Share Issuance Plan of the Company
11.03
Mgmt For For Approve Par Value and Issue Price in Relation to the Offshore Preference Share Issuance Plan of the Company
11.04
Mgmt For For Approve Maturity in Relation to the Offshore
Preference Share Issuance Plan of the Company 11.05
Mgmt For For Approve Target Investors in Relation to the Offshore Preference Share Issuance Plan of the Company
11.06
Mgmt For For Approve Lock-Up Period in Relation to the Offshore Preference Share Issuance Plan of the Company
11.07
Mgmt For For Approve Terms of Distribution of Dividends in Relation to the Offshore Preference Share Issuance Plan of the Company
11.08
Mgmt For For Approve Terms of Mandatory Conversion in Relation to the Offshore Preference Share Issuance Plan of the Company
11.09
Mgmt For For Approve Terms of Conditional Redemption in Relation to the Offshore Preference Share Issuance Plan of the Company
11.10
Mgmt For For Approve Restrictions on Voting Rights in Relation to the Offshore Preference Share Issuance Plan of the Company
11.11
Mgmt For For Approve Restoration of Voting Rights in Relation to the Offshore Preference Share Issuance Plan of the Company
11.12
Mgmt For For Approve Order of Distribution of Residual Assets and Basis for Liquidation in Relation to the Offshore Preference Share Issuance Plan of the Company
11.13
Mgmt For For Approve Rating in Relation to the Offshore
Preference Share Issuance Plan of the Company 11.14
Mgmt For For Approve Security in Relation to the Offshore
Preference Share Issuance Plan of the Company 11.15
Mgmt For For Approve Use of Proceeds from the Issuance of
the Offshore Preference Shares 11.16
Page 29 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Industrial & Commercial Bank of China Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Transfer in Relation to the Offshore
Preference Share Issuance Plan of the Company 11.17
Mgmt For For Approve Relationship Between Offshore and Domestic Issuance in Relation to the Offshore Preference Share Issuance Plan of the Company
11.18
Mgmt For For Approve Validity Period of the Resolution in Respect of the Issuance of the OffshorePreference Shares
11.19
Mgmt For For Approve The Application and Approval Procedures to be Completed for the Issuance in Relation to the Offshore Preference Share Issuance Plan of the Company
11.20
Mgmt For For Approve Matters Relating to Authorization in Relation to the Offshore Preference Share Issuance Plan of the Company
11.21
Mgmt For For Approve Proposal on the Impact on Dilution of Immediate Returns of the Issuance of Preference Shares and the Remedial Measures of the Company
12
Mgmt For For Approve Proposal on Formulating the Shareholder Return Plan for 2018 to 2020 of the Company
13
Jiangsu Expressway Co. Ltd.
Meeting Date: 10/25/2018 Country: China
Meeting Type: Special Ticker: 177
Primary ISIN: CNE1000003J5 Primary SEDOL: 6005504
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Amend Articles of Association 1
Mgmt ELECT NON-INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING
Mgmt For For Elect Sun Xibin as Director and Approve the Signing of an Executive Director Service Contract with Him
2.01
Mgmt ELECT INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING
Page 30 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Jiangsu Expressway Co. Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Elect Liu Xiaoxing as Director and Approve the Signing of a Non-executive Director Service Contract with Him
3.01
Kangwon Land, Inc.
Meeting Date: 12/27/2018 Country: South Korea
Meeting Type: Special Ticker: 035250
Primary ISIN: KR7035250000 Primary SEDOL: 6683449
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
ELECT TWO OUTSIDE DIRECTORS OUT OF FOUR NOMINEES (BUNDLED)
Mgmt
Mgmt For For Elect Directors (Bundled) 1.1.1
Mgmt Against For Elect Directors (Bundled) 1.1.2
Voter Rationale: Votes FOR Item 1.1.1 (Song Ju-han and Yoo Jae-geun) and AGAINST remaining Items 1.1.2,1.1.3,1.1.4,1.1.5 and 1.1.6 are warranted because two nominees included in the other choices, Lee Moon-geun and Lee Tae-hui, have worked in government and a subcontractor company and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt Against For Elect Directors (Bundled) 1.1.3
Voter Rationale: Votes FOR Item 1.1.1 (Song Ju-han and Yoo Jae-geun) and AGAINST remaining Items 1.1.2,1.1.3,1.1.4,1.1.5 and 1.1.6 are warranted because two nominees included in the other choices, Lee Moon-geun and Lee Tae-hui, have worked in government and a subcontractor company and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt Against For Elect Directors (Bundled) 1.1.4
Voter Rationale: Votes FOR Item 1.1.1 (Song Ju-han and Yoo Jae-geun) and AGAINST remaining Items 1.1.2,1.1.3,1.1.4,1.1.5 and 1.1.6 are warranted because two nominees included in the other choices, Lee Moon-geun and Lee Tae-hui, have worked in government and a subcontractor company and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt Against For Elect Directors (Bundled) 1.1.5
Voter Rationale: Votes FOR Item 1.1.1 (Song Ju-han and Yoo Jae-geun) and AGAINST remaining Items 1.1.2,1.1.3,1.1.4,1.1.5 and 1.1.6 are warranted because two nominees included in the other choices, Lee Moon-geun and Lee Tae-hui, have worked in government and a subcontractor company and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt Against For Elect Directors (Bundled) 1.1.6
Voter Rationale: Votes FOR Item 1.1.1 (Song Ju-han and Yoo Jae-geun) and AGAINST remaining Items 1.1.2,1.1.3,1.1.4,1.1.5 and 1.1.6 are warranted because two nominees included in the other choices, Lee Moon-geun and Lee Tae-hui, have worked in government and a subcontractor company and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt ELECT ONE OUTSIDE DIRECTOR OUT OF TWO NOMINEES
Page 31 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Kangwon Land, Inc. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Elect Kim Ju-young as Outside Director 1.2.1
Voter Rationale: Votes FOR Item 1.2.2 (Choi Gyeong-sik) and AGAINST Item 1.2.1 (Kim Ju-young) are warranted because Choi has worked in government owned companies or organizations and may compromise independence of the board and expose shareholders to unnecessary risks.
Mgmt For For Elect Choi Gyeong-sik as Outside Director 1.2.2
Kweichow Moutai Co., Ltd.
Meeting Date: 10/16/2018 Country: China
Meeting Type: Special Ticker: 600519
Primary ISIN: CNE0000018R8 Primary SEDOL: 6414832
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Wang Yan as Non-Independent Director Mgmt For For
Kweichow Moutai Co., Ltd.
Meeting Date: 11/28/2018 Country: China
Meeting Type: Special Ticker: 600519
Primary ISIN: CNE0000018R8 Primary SEDOL: 6414832
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Li Jingren as Non-Independent Director Mgmt For For
Larsen & Toubro Ltd.
Meeting Date: 10/01/2018 Country: India
Meeting Type: Special Ticker: 500510
Primary ISIN: INE018A01030 Primary SEDOL: B0166K8
Page 32 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Larsen & Toubro Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Postal Ballot Mgmt
Mgmt For For Approve Buy Back of Equity Shares 1
Lee & Man Paper Manufacturing Ltd.
Meeting Date: 12/05/2018 Country: Cayman Islands
Meeting Type: Special Ticker: 2314
Primary ISIN: KYG5427W1309 Primary SEDOL: 6693772
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Buying Agent Agreement, Proposed Annual Caps and Related Transactions
Mgmt For For
Lens Technology Co., Ltd.
Meeting Date: 12/03/2018 Country: China
Meeting Type: Special Ticker: 300433
Primary ISIN: CNE100001YW7 Primary SEDOL: BW9LDQ4
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Termination of Implementation of Performance Share and Stock Option Incentive Plan and Repurchase and Cancellation of Shares
that has been Granted
Mgmt For For
Mgmt For For Amend Articles of Association 2
Lotte Corp.
Meeting Date: 11/21/2018 Country: South Korea
Meeting Type: Special Ticker: 004990
Primary ISIN: KR7004990008 Primary SEDOL: 6535432
Page 33 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Lotte Corp.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Reduction in Capital Mgmt For For
Mgmt For For Approval of Reduction of Capital Reserve 2
Magnitogorsk Iron & Steel Works PJSC
Meeting Date: 12/07/2018 Country: Russia
Meeting Type: Special Ticker: MAGN
Primary ISIN: RU0009084396 Primary SEDOL: B5B1RP0
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Meeting for GDR Holders Mgmt
Mgmt For For Approve Interim Dividends of for First Nine Months of Fiscal 2018
1
Mexichem SAB de CV
Meeting Date: 11/26/2018 Country: Mexico
Meeting Type: Special Ticker: MEXCHEM
Primary ISIN: MX01ME050007 Primary SEDOL: 2434760
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Ordinary Business Mgmt
Mgmt For For Approve Cash Dividends of up to USD 168
Million 1
Mgmt For For Authorize Board to Ratify and Execute Approved
Resolutions 2
Page 34 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Motherson Sumi Systems Ltd.
Meeting Date: 10/17/2018 Country: India
Meeting Type: Special Ticker: 517334
Primary ISIN: INE775A01035 Primary SEDOL: 6743990
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Postal Ballot Mgmt
Mgmt For For Increase Authorized Share Capital and Amend Memorandum of Association
1
Mgmt For For Approve Issuance of Bonus Shares 2
Motor Oil (Hellas) Corinth Refineries SA
Meeting Date: 10/24/2018 Country: Greece
Meeting Type: Special Ticker: MOH
Primary ISIN: GRS426003000 Primary SEDOL: 5996234
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Special Meeting Agenda Mgmt
Mgmt For For Approve Related Party Transactions with Zencharm Holdings Limited on Operation and Management of Tallon Commodities Limited
1
Mgmt For For Approve Related Party Transactions with Zencharm Holdings Limited on Operation and Management of Tallon PTE LTD
2
Mgmt For For Amend Corporate Purpose 3
Nedbank Group Ltd.
Meeting Date: 11/22/2018 Country: South Africa
Meeting Type: Special Ticker: NED
Primary ISIN: ZAE000004875 Primary SEDOL: 6628008
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Special Resolution Mgmt
Page 35 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Nedbank Group Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Authorise Specific Repurchase of Shares from
the Odd-lot Holders 1
Mgmt Ordinary Resolutions
Mgmt For For Authorise Implementation of the Odd-lot Offer 1
Mgmt For For Authorise Ratification of Approved Resolutions 2
Novolipetsk Steel
Meeting Date: 12/21/2018 Country: Russia
Meeting Type: Special Ticker: NLMK
Primary ISIN: RU0009046452 Primary SEDOL: B59FPC7
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Meeting for GDR Holders Mgmt
Mgmt For For Approve Interim Dividends for First Nine Months of Fiscal 2018
1
Mgmt For For Approve New Edition of Charter 2.1
Mgmt For For Approve New Edition of Regulations on General Meetings
2.2
Mgmt For For Approve New Edition of Regulations on Board of Directors
2.3
Mgmt For For Approve New Edition of Regulations on Management
2.4
Mgmt For For Approve New Edition of Regulations on Remuneration of Directors
2.5
Mgmt For For Cancel Regulations on Audit Commission 2.6
Mgmt For For Cancel Regulations on Remuneration of Audit Commission
2.7
Mgmt For For Approve Early Termination of Powers of Audit Commission
3
Oil Co. LUKOIL PJSC
Meeting Date: 12/03/2018 Country: Russia
Meeting Type: Special Ticker: LKOH
Primary ISIN: RU0009024277 Primary SEDOL: B59SNS8
Page 36 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Oil Co. LUKOIL PJSC
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Meeting for ADR/GDR Holders Mgmt
Mgmt For For Approve Interim Dividends for First Nine Months
of Fiscal 2018 1
Mgmt For For Approve Remuneration of Directors 2
Mgmt For For Amend Charter 3
People's Insurance Co. (Group) of China Ltd.
Meeting Date: 12/21/2018 Country: China
Meeting Type: Special Ticker: 1339
Primary ISIN: CNE100001MK7 Primary SEDOL: B8RZJZ1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration of Directors and Supervisors
Mgmt For For
Petroleo Brasileiro SA
Meeting Date: 10/04/2018 Country: Brazil
Meeting Type: Special Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Meeting for ADR Holders Mgmt
Mgmt For For Elect Ivan de Souza Monteiro and Durval Jose
Soledade Santos as Directors 1a
Mgmt Against None In Case There is Any Change to the Board Slate Composition, May Your Votes Still be Counted for the Proposed Slate?
1b
Voter Rationale: A vote AGAINST this request is warranted because potential changes in the board slate composition can impact the board's independence level in a way that cannot be anticipated by shareholders at this time. As such, due to the lack of timely disclosure, international institutional investors are prevented from making an informed voting decision.
Page 37 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Petroleo Brasileiro SA Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Abstain None In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes to All Nominees in the Slate?
1c
Voter Rationale: ABSTAIN vote recommendation is warranted for this item in the absence of publicly-available information, disclosed in a timely manner, regarding a cumulative voting request presented by shareholders.
Mgmt For For Amend Articles 2
Mgmt For For Consolidate Bylaws 3
Mgmt Against For Approve Remuneration of Audit Committee Members
4
Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480
Petroleo Brasileiro SA
Meeting Date: 12/11/2018 Country: Brazil
Meeting Type: Special Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Meeting for ADR Holders Mgmt
Mgmt Against For Amend Articles 23, 28, 30 and Consolidate
Bylaws 1
Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
Mgmt For For Approve Absorption of PDET Offshore SA 2
Ping An Insurance (Group) Co. of China Ltd.
Meeting Date: 12/14/2018 Country: China
Meeting Type: Special Ticker: 2318
Primary ISIN: CNE1000003X6 Primary SEDOL: B01FLR7
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt APPROVE THE ELECTION OF DIRECTORS OF
THE COMPANY
Page 38 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Ping An Insurance (Group) Co. of China Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Elect Ng Sing Yip as Director 1.01
Mgmt For For Elect Chu Yiyun as Director 1.02
Mgmt For For Elect Liu Hong as Director 1.03
Mgmt For For Approve the Implementation of the Long-term
Service Plan 2
Mgmt For For Approve the Issuing of Debt Financing
Instruments 3
Mgmt For For Amend Articles of Association 4
Mgmt For For Authorize Repurchase of Issued Share Capital 5
Power Grid Corp. of India Ltd.
Meeting Date: 12/17/2018 Country: India
Meeting Type: Special Ticker: 532898
Primary ISIN: INE752E01010 Primary SEDOL: B233HS6
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Postal Ballot Mgmt
Mgmt For For Amend Objects Clause of Memorandum of Association
1
Mgmt For For Approve Increase in Limit on Foreign Shareholdings
2
PT Adaro Energy Tbk
Meeting Date: 12/14/2018 Country: Indonesia
Meeting Type: Special Ticker: ADRO
Primary ISIN: ID1000111305 Primary SEDOL: B3BQFC4
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Changes in Board of Company Mgmt For For
Page 39 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
PT Bukit Asam Tbk
Meeting Date: 12/28/2018 Country: Indonesia
Meeting Type: Special Ticker: PTBA
Primary ISIN: ID1000094006 Primary SEDOL: 6565127
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Exposure and Evaluation of Third Semester Performance 2018
SH None For
SH Against None Approve Changes in Board of Company 2
PT Matahari Department Store Tbk
Meeting Date: 10/08/2018 Country: Indonesia
Meeting Type: Special Ticker: LPPF
Primary ISIN: ID1000113301 Primary SEDOL: 6665878
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Share Repurchase Program Mgmt For For
Mgmt For For Reaffirm Composition of Shareholders of the
Company 2
PT Surya Citra Media Tbk
Meeting Date: 12/05/2018 Country: Indonesia
Meeting Type: Special Ticker: SCMA
Primary ISIN: ID1000125305 Primary SEDOL: B8HWJY1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Share Repurchase Program Mgmt For For
Page 40 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
RMB Holdings Ltd.
Meeting Date: 11/21/2018 Country: South Africa
Meeting Type: Annual Ticker: RMH
Primary ISIN: ZAE000024501 Primary SEDOL: 6755821
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Ordinary Resolutions Mgmt
Mgmt Against For Re-elect Johan Burger as Director 1.1
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt Against For Re-elect Laurie Dippenaar as Director 1.2
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt Against For Re-elect Paul Harris as Director 1.3
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt Against For Re-elect Albertinah Kekana as Director 1.4
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt For For Elect Mamongae Mahlare as Director 1.5
Mgmt For For Elect Ralph Mupita as Director 1.6
Mgmt For For Elect James Teeger as Director 1.7
Mgmt For For Place Authorised but Unissued Shares under
Control of Directors 2
Mgmt For For Authorise Board to Issue Shares for Cash 3
Mgmt For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company and Authorise Their Remuneration
4
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Re-elect Sonja De Bruyn as Member of the Audit and Risk Committee
5.1
Mgmt For For Re-elect Per-Erik Lagerstrom as Member of the Audit and Risk Committee
5.2
Mgmt For For Elect James Teeger as Member of the Audit and Risk Committee
5.3
Mgmt For For Authorise Ratification of Approved Resolutions 6
Mgmt Special Resolutions
Mgmt For For Approve Non-executive Directors' Remuneration 1
Page 41 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
RMB Holdings Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Authorise Repurchase of Issued Share Capital 2
Mgmt For For Authorise Issue of Shares or Options Pursuant
to a Reinvestment Option 3
Mgmt Against For Approve Financial Assistance to Directors, Prescribed Officers and Employee Share Scheme Beneficiaries
4
Voter Rationale: Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
Mgmt For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
5
Sanlam Ltd.
Meeting Date: 12/12/2018 Country: South Africa
Meeting Type: Special Ticker: SLM
Primary ISIN: ZAE000070660 Primary SEDOL: B0L6750
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
Special Resolutions Mgmt
Mgmt For For Authorise Issue of Shares to SU BEE Investment
SPV (RF) Proprietary Limited 1
Mgmt For For Approve Financial Assistance to SU BEE Funding SPV (RF) Proprietary Limited in Terms of Sections 44 and 45 of the Companies Act
2
Mgmt For For Approve Financial Assistance to Ubuntu-Botho Investments Proprietary Limited in Terms of Sections 44 and 45 of the Companies Act
3
Mgmt Ordinary Resolution
Mgmt For For Authorise Ratification of Approved Resolutions 1
Sasol Ltd.
Meeting Date: 11/16/2018 Country: South Africa
Meeting Type: Annual Ticker: SOL
Primary ISIN: ZAE000006896 Primary SEDOL: 6777450
Page 42 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Sasol Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Colin Beggs as Director Mgmt For For
Mgmt For For Re-elect Stephen Cornell as Director 1.2
Mgmt For For Re-elect Manuel Cuambe as Director 1.3
Mgmt For For Re-elect JJ Njeke as Director 1.4
Mgmt For For Re-elect Bongani Nqwababa as Director 1.5
Mgmt For For Elect Muriel Dube as Director 2.1
Mgmt For For Elect Martina Floel as Director 2.2
Mgmt For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company and Appoint N Ndiweni as Individual Registered Auditor
3
Mgmt For For Re-elect Colin Beggs as Member of the Audit
Committee 4.1
Mgmt For For Re-elect Trix Kennealy as Member of the Audit
Committee 4.2
Mgmt For For Re-elect Nomgando Matyumza as Member of
the Audit Committee 4.3
Mgmt For For Re-elect JJ Njeke as Member of the Audit
Committee 4.4
Mgmt For For Re-elect Stephen Westwell as Member of the
Audit Committee 4.5
Mgmt Against For Approve Remuneration Policy 5
Voter Rationale: The remuneration committee should not allow vesting of incentive awards for below median performance.
Mgmt Against For Approve Implementation Report of the Remuneration Policy
6
Voter Rationale: The remuneration committee should not allow vesting of incentive awards for below median performance.
Mgmt For For Approve Remuneration Payable to Non-executive Directors
7
Mgmt For For Approve Financial Assistance to Related or Inter-related Companies
8
Mgmt For For Authorise Repurchase of Issued Share Capital and/or Sasol BEE Ordinary Shares
9
Mgmt For For Authorise Repurchase of Issued Share Capital from a Director and/or a Prescribed Officer of
the Company
10
Mgmt For For Amend Memorandum of Incorporation Re: Termination of Contract Verification Process and the Adoption of the BEE Verification Agent Process
11
Page 43 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Sasol Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Authorise Issue of SOLBE1 Shares Pursuant to
the Automatic Share Exchange 12
Semiconductor Manufacturing International Corp.
Meeting Date: 11/07/2018 Country: Cayman Islands
Meeting Type: Special Ticker: 981
Primary ISIN: KYG8020E1199 Primary SEDOL: BDFBM13
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Framework Agreement, Annual Caps and Related Transactions
Mgmt For For
Mgmt Against For Approve Centralised Fund Management Agreement, Annual Caps and Related Transactions
2
Voter Rationale: In the absence of compelling economic rationale such pooling of the group s cash through an unlisted financial vehicle may give the parent company control over the listed company s finances.
Mgmt Against For Approve Grant of Restricted Share Units to
Lip-Bu Tan 3a
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Lastly, share-based incentive plans for executives and employees should be submitted to shareholder approval as separate voting items.
Mgmt Against For Approve Grant of Restricted Share Units to Chen
Shanzhi 3b
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Lastly, share-based incentive plans for executives and employees should be submitted to shareholder approval as separate voting items.
Mgmt Against For Approve Grant of Restricted Share Units to
William Tudor Brown 3c
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Lastly, share-based incentive plans for executives and employees should be submitted to shareholder approval as separate voting items.
Page 44 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Semiconductor Manufacturing International Corp. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt Against For Authorize Board to Exercise the Powers in Relation to the Proposed Grant of Restricted Share Units
3d
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Lastly, share-based incentive plans for executives and employees should be submitted to shareholder approval as separate voting items.
Shandong Weigao Group Medical Polymer Co. Ltd.
Meeting Date: 12/06/2018 Country: China
Meeting Type: Special Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Distribution of Interim Dividend Mgmt For For
Mgmt For For Elect Long Jing as Director 2
Mgmt For For Amend Articles of Association 3
Sime Darby Bhd.
Meeting Date: 11/15/2018 Country: Malaysia
Meeting Type: Annual Ticker: 4197
Primary ISIN: MYL4197OO009 Primary SEDOL: B29TTR1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Directors' Fees for the Financial year Ended June 30, 2018
Mgmt For For
Mgmt For For Approve Directors' Fees for the Period from July 1, 2018 Until the Next AGM
2
Mgmt For For Approve Directors' Benefits 3
Mgmt Against For Elect Mohamed Azman Yahya as Director 4
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
Page 45 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Sime Darby Bhd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Elect Abdul Hamidy Abdul Hafiz as Director 5
Mgmt For For Elect Ahmad Pardas Senin as Director 6
Mgmt For For Elect Thayaparan Sangarapillai as Director 7
Mgmt For For Elect Jeffri Salim Davidson as Director 8
Mgmt For For Elect Lawrence Lee Cheow Hock as Director 9
Mgmt For For Elect Moy Pui Yee as Director 10
Mgmt For For Elect Abdul Aziz Wan Abdullah as Director 11
Mgmt For For Elect Selamah Wan Sulaiman as Director 12
Mgmt For For Approve PricewaterhouseCoopers PLT as Auditors and Authorize Board to Fix Their Remuneration
13
Mgmt For For Authorize Share Repurchase Program 14
Mgmt For For Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions
15
Mgmt Against For Approve Grant of Shares to Jeffri Salim Davidson Under the Performance-Based Employee Share Scheme
16
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
SINOPEC Engineering (Group) Co., Ltd.
Meeting Date: 10/26/2018 Country: China
Meeting Type: Special Ticker: 2386
Primary ISIN: CNE100001NV2 Primary SEDOL: B92NYC9
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Financial Services Framework Agreement, Proposed Annual Caps and Related Transactions
Mgmt For Against
Voter Rationale: A vote AGAINST this proposal is warranted because the proposed related-party transaction is a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
Mgmt For For Approve Engineering and Construction Services Framework Agreement, Proposed Annual Caps and Related Transactions
2
Mgmt For For Elect Yu Baocai as Director 3
Mgmt For For Elect Lu Dong as Director 4
Page 46 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
SINOPEC Engineering (Group) Co., Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Elect Xiang Wenwu as Director 5
Mgmt For For Elect Wu Wenxin as Director 6
Mgmt Against For Elect Hui Chiu Chung, Stephen as Director 7
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
Mgmt For For Elect Jin Yong as Director 8
Mgmt For For Elect Ye Zheng as Director 9
Mgmt For For Elect Zhu Fei as Supervisor 10
Mgmt For For Elect Wang Guoliang as Supervisor 11
Mgmt For For Elect Ye Wenbang as Supervisor 12
Mgmt For For Elect Wu Jibo as Supervisor 13
Mgmt For For Amend Articles of Association and Related Transactions
14
Sinopec Shanghai Petrochemical Co. Ltd.
Meeting Date: 11/08/2018 Country: China
Meeting Type: Special Ticker: 338
Primary ISIN: CNE1000004C8 Primary SEDOL: 6797458
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Elect Shi Wei as Director 1
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
Mgmt For For Amend Articles of Association and Its Appendix 2
Sinopharm Group Co., Ltd.
Meeting Date: 12/28/2018 Country: China
Meeting Type: Special Ticker: 1099
Primary ISIN: CNE100000FN7 Primary SEDOL: B3ZVDV0
Page 47 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Sinopharm Group Co., Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Hu Jianwei as Director and Authorize Board to Enter into the Service Contract with Him
Mgmt For For
Mgmt For For Elect Chen Fangruo as Director and Authorize Board to Enter into the Service Contract with Him
2
SH For For Elect Yu Qingming as Director and Authorize Board to Enter into the Service Contract with Him
3
Tatneft PJSC
Meeting Date: 12/21/2018 Country: Russia
Meeting Type: Special Ticker: TATN
Primary ISIN: RU0009033591 Primary SEDOL: B59BXN2
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Meeting for ADR Holders Mgmt
Mgmt For For Approve Interim Dividends for First Nine Months of Fiscal 2018
1
Top Glove Corp. Bhd.
Meeting Date: 10/10/2018 Country: Malaysia
Meeting Type: Special Ticker: 7113
Primary ISIN: MYL7113OO003 Primary SEDOL: B05L892
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Removal of Low Chin Guan as Director SH None Against
Voter Rationale: We await the outcomes of the investigation.
Page 48 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Top Glove Corp. Bhd.
Meeting Date: 10/10/2018 Country: Malaysia
Meeting Type: Special Ticker: 7113
Primary ISIN: MYL7113OO003 Primary SEDOL: B05L892
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Ordinary Resolutions Mgmt
Mgmt For For Approve Bonus Issue 1
Mgmt For For Approve Bonds Issue 2
Mgmt Special Resolution
Mgmt For For Amend Constitution Re: Bonus Issue 1
Truworths International Ltd.
Meeting Date: 10/24/2018 Country: South Africa
Meeting Type: Annual Ticker: TRU
Primary ISIN: ZAE000028296 Primary SEDOL: 6113485
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports for the Year Ended 1 July 2018 Mgmt For For
Mgmt For For Re-elect Michael Mark as Director 2.1
Mgmt Against For Re-elect Anthony Taylor as Director 2.2
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Re-elect David Pfaff as Director 2.3
Mgmt For For Elect Maya Makanjee as Director 2.4
Mgmt For For Elect Hans Hawinkels as Director 2.5
Mgmt For For Authorise Board to Issue Shares for Cash 3
Mgmt For For Authorise Repurchase of Issued Share Capital 4
Page 49 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Truworths International Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Reappoint Ernst & Young Inc as Auditors of the Company with Tina Rookledge as the Registered Auditor and Authorise Their Remuneration
5
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Approve Fees of the Non-executive Chairman 6.1
Mgmt For For Approve Fees of the Non-executive Directors 6.2
Mgmt For For Approve Fees of the Audit Committee Chairman 6.3
Mgmt For For Approve Fees of the Audit Committee Member 6.4
Mgmt For For Approve Fees of the Remuneration Committee Chairman
6.5
Mgmt For For Approve Fees of the Remuneration Committee Member
6.6
Mgmt For For Approve Fees of the Risk Committee Member (Non-executive Only)
6.7
Mgmt For For Approve Fees of the Non-executive and Nomination Committee Chairman
6.8
Mgmt For For Approve Fees of the Non-executive and Nomination Committee Member
6.9
Mgmt For For Approve Fees of the Social and Ethics Committee Chairman
6.10
Mgmt For For Approve Fees of the Social and Ethics Committee Member (Non-executive Only)
6.11
Mgmt For For Re-elect Roddy Sparks as Member of the Audit Committee
7.1
Mgmt Against For Re-elect Michael Thompson as Member of the Audit Committee
7.2
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt Against For Re-elect Rob Dow as Member of the Audit Committee
7.3
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Mgmt For For Approve Remuneration Policy 8.1
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time.
Mgmt For For Approve Remuneration Implementation Report 8.2
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time.
Mgmt For For Approve Social and Ethics Committee Report 9
Page 50 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Truworths International Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Re-elect Michael Thompson as Member of the
Social and Ethics Committee 10.1
Mgmt For For Re-elect Thandi Ndlovu as Member of the Social
and Ethics Committee 10.2
Mgmt For For Re-elect David Pfaff as Member of the Social
and Ethics Committee 10.3
Mgmt For For Approve Financial Assistance to Related or
Inter-related Company 11
Weichai Power Co., Ltd.
Meeting Date: 12/03/2018 Country: China
Meeting Type: Special Ticker: 2338
Primary ISIN: CNE1000004L9 Primary SEDOL: 6743956
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve Merger and Absorption of Weichai Power (Weifang) After-sales Service Co., Ltd. by the Company
1
Mgmt For For Amend the Terms of Reference of the Nomination Committee
2
Mgmt For For Approve Grant of Guarantee by the Company for the Benefit of Weichai Power Hong Kong International Development Co., Limited in
Respect of a Loan
3
Wilson Bayly Holmes-Ovcon Ltd.
Meeting Date: 11/21/2018 Country: South Africa
Meeting Type: Annual Ticker: WBO
Primary ISIN: ZAE000009932 Primary SEDOL: 6662404
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Ordinary Resolutions Mgmt
Page 51 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Wilson Bayly Holmes-Ovcon Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Reappoint BDO South Africa Inc as Auditors of the Company with Jeanie Roberts as the Designated Auditor
1
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Elect Karen Forbay as Director 2.1
Mgmt For For Elect Cobus Bester as Director 2.2
Mgmt For For Elect Hatla Ntene as Director 2.3
Mgmt For For Re-elect Savannah Maziya as Director 3
Mgmt For For Elect Cobus Bester as Chairperson of the Audit Committee
4.1
Mgmt For For Re-elect Ross Gardiner as Member of the Audit Committee
4.2
Mgmt For For Re-elect Savannah Maziya as Member of the Audit Committee
4.3
Mgmt For For Elect Karen Forbay as Member of the Audit Committee
4.4
Mgmt For For Elect Hatla Ntene as Chairperson of the Social and Ethics Committee
5.1
Mgmt For For Elect Ross Gardiner as Member of the Social and Ethics Committee
5.2
Mgmt For For Elect Karen Forbay as Member of the Social and Ethics Committee
5.3
Mgmt For For Elect Shereen Vally-Kara as Member of the Social and Ethics Committee
5.4
Mgmt For For Elect Andrew Logan as Member of the Social and Ethics Committee
5.5
Mgmt For For Elect Samuel Gumede as Member of the Social and Ethics Committee
5.6
Mgmt Against For Approve Remuneration Policy 6
Voter Rationale: The remuneration committee should not allow vesting of incentive awards for below median performance.
Mgmt Against For Approve Remuneration Policy and
Implementation Report 7
Voter Rationale: The remuneration committee should not allow vesting of incentive awards for below median performance.
Mgmt For For Place Authorised but Unissued Shares under Control of Directors
8
Mgmt For For Authorise Ratification of Approved Resolutions 9
Mgmt Special Resolutions
Mgmt For For Approve Non-executive Directors' Fees 1
Mgmt For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
2
Page 52 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Wilson Bayly Holmes-Ovcon Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Authorise Repurchase of Issued Share Capital 3
Woolworths Holdings Ltd.
Meeting Date: 11/30/2018 Country: South Africa
Meeting Type: Annual Ticker: WHL
Primary ISIN: ZAE000063863 Primary SEDOL: B06KZ97
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Patrick Allaway as Director Mgmt For For
Mgmt For For Re-elect Andrew Higginson as Director 1.2
Mgmt For For Re-elect Gail Kelly as Director 1.3
Mgmt For For Re-elect Zyda Rylands as Director 1.4
Mgmt For For Elect Sizakele Mzimela as Director 2.1
Mgmt For For Reappoint Ernst & Young Inc as Auditors of the Company with Johanna Cornelia de Villiers as the Designated Auditor
3
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Mgmt For For Re-elect Patrick Allaway as Member of the Audit
Committee 4.1
Mgmt For For Re-elect Zarina Bassa as Member of the Audit
Committee 4.2
Mgmt For For Re-elect Hubert Brody as Chairman of the Audit
Committee 4.3
Mgmt For For Re-elect Andrew Higginson as Member of the
Audit Committee 4.4
Mgmt For For Approve Remuneration Policy 5
Mgmt Against For Approve Remuneration Implementation Report 6
Voter Rationale: All exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs.and drive shareholder value over a sufficiently long period of time.
Mgmt For For Approve Non-executive Directors' Fees 7
Mgmt For For Authorise Repurchase of Issued Share Capital 8
Mgmt For For Approve Financial Assistance to Related or
Inter-related Companies 9
Page 53 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Woolworths Holdings Ltd. Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
Mgmt For For Approve Issuance of Shares or Options and Grant Financial Assistance in Terms of the Company's Share-Based Incentive Schemes
10
Woori Bank
Meeting Date: 12/28/2018 Country: South Korea
Meeting Type: Special Ticker: 000030
Primary ISIN: KR7000030007 Primary SEDOL: BSP5RP9
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Formation of Holding Company Mgmt For For
Mgmt For For Elect Ro Sung-tae as Outside Director 2.1
Mgmt For For Elect Park Sang-yong as Outside Director 2.2
Mgmt For For Elect Park Soo-man as Outside Director 2.3
Mgmt For For Elect Lee Jae-kyung as Non-independent Non-executive Director
2.4
Mgmt For For Elect Chung Chan-hyoung as Outside Director to serve as Audit Committee member
3.1
Mgmt For For Elect Kim Joon-ho as Outside Director to serve as Audit Committee member
3.2
XCMG Construction Machinery Co., Ltd.
Meeting Date: 10/11/2018 Country: China
Meeting Type: Special Ticker: 000425
Primary ISIN: CNE000000FH0 Primary SEDOL: 6984249
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Change in the Usage of Raised Funds Mgmt For For
Mgmt For For Amend Articles of Association 2
Page 54 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
YiChang HEC ChangJiang Pharmaceutical Co. Ltd.
Meeting Date: 10/15/2018 Country: China
Meeting Type: Special Ticker: 1558
Primary ISIN: CNE1000023R6 Primary SEDOL: BYPHSW1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Proposed Issuance of H Share Convertible Bonds, Issuance of the Conversion
Shares and Related Transactions
Mgmt For For
Mgmt Against For Elect Eddy Huang as Director and Authorize Board to Determine the Commencement Date of
His Appointment
2
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mgmt For For Approve Distribution of Interim Dividends 3
YiChang HEC ChangJiang Pharmaceutical Co. Ltd.
Meeting Date: 10/15/2018 Country: China
Meeting Type: Special Ticker: 1558
Primary ISIN: CNE1000023R6 Primary SEDOL: BYPHSW1
Proposal
Number
Proponent
Proposal Text
Mgmt Rec
Vote
Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
Mgmt For For Approve Proposed Issuance of H Share Convertible Bonds, Issuance of the Conversion Shares and Related Transactions
1
Zhejiang Huace Film & TV Co., Ltd.
Meeting Date: 12/06/2018 Country: China
Meeting Type: Special Ticker: 300133
Primary ISIN: CNE100000VX3 Primary SEDOL: B4JWBN4
Page 55 of 56
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018
Zhejiang Huace Film & TV Co., Ltd.
Proposal Number
Proponent
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Repurchase and Cancellation of
Performance Shares Mgmt For For
Mgmt For For Approve Change in Registered Capital and
Amend Articles of Association 2
Page 56 of 56
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The information, opinions estimates or forecasts contained in this document were obtained from sources
reasonably believed to be reliable and are subject to change at any time. The report reflects voting
instructions given, not votes cast and the information has been provided by an external supplier. BMO
Global Asset Management may from time to time deal in investments that may be mentioned herein on
behalf of their clients. © 2015 BMO Global Asset Management. All rights reserved. BMO Global Asset
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