Stewardship & Governance
PGIM Quant is focused on promoting ESG principles within the investment industry. We support the recommendations of the Financial Stability Board’s Task Force on Climate-Related Disclosures (TCFD) and have contractually agreed to adhere to Japan’s Stewardship Code.
PGIM Quantitative Solutions is focused on promoting ESG principles within the investment industry. We support the recommendations of the Financial Stability Board’s Task Force on Climate-Related Disclosures (TCFD) and have contractually agreed to adhere to Japan’s Stewardship Code. PGIM Quantitative Solutions is also a member of the Sustainability Accounting Standards Board (SASB) Investor Advisory Group, through which we encourage companies to disclose information on their carbon emissions and other ESG related factors.
PGIM Quant's UN PRI Scorecard and Reports
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Read our full assessment and transparency reports below:
Statement On Responsible Investing
PGIM Quantitative Solutions' goal is to meet client investment objectives by closely managing portfolio exposure to expected return and risk. When determining portfolio holdings, we evaluate the impact of many factors on meeting these objectives, including Environmental, Social and Governance (ESG) factors.
Statement on Diversity, Equity & Inclusion
PGIM Quantitative Solutions has a long-standing commitment to diversity, equity and inclusion in the workplace. Since 1975, we have fostered an engaging environment that rewards intellectual and cultural diversity. We seek employees from a variety of backgrounds and cultures.
Acceptance Of Japan's Stewardship Code
Since 2016, PGIM Quantitative Solutions has contractually agreed to adhere to Japan’s Stewardship Code and its underlying principles.
Proxy Voting Overview
As a responsible investor and fiduciary, PGIM Quantitative Solutions' policy is to vote proxies in the best long-term economic interests of our clients (the appreciation in value of the investment over time). We have adopted voting guidelines that reflect our general philosophy on corporate governance matters and our approach to other issues that may arise.
Proxy Voting results
Proposal Category Type | For | Against | Abstain | Take No Action |
Unvoted | Mixed | 1 Year | 2 Years | 3 Years | Total |
---|---|---|---|---|---|---|---|---|---|---|
Totals | 46,147 | 4,696 | 106 | 2,201 | 0 | 2,197 | 265 | 0 | 0 | 55,612 |
Audit/Financials | 7,339 | 2 | 0 | 308 | 0 | 175 | 0 | 0 | 0 | 7,824 |
Board Related | 27,835 | 2,945 | 38 | 1,031 | 0 | 1,375 | 0 | 0 | 0 | 33,224 |
Capital Management | 2,091 | 505 | 1 | 103 | 0 | 25 | 0 | 0 | 0 | 2,725 |
Changes to Company Statutes | 2,003 | 42 | 0 | 56 | 0 | 73 | 0 | 0 | 0 | 2,174 |
Compensation | 5,331 | 657 | 0 | 346 | 0 | 192 | 265 | 0 | 0 | 6,791 |
M&A | 229 | 1 | 0 | 9 | 0 | 28 | 0 | 0 | 0 | 267 |
Meeting Administration | 700 | 57 | 0 | 144 | 0 | 40 | 0 | 0 | 0 | 941 |
Other | 377 | 36 | 63 | 181 | 0 | 100 | 0 | 0 | 0 | 757 |
SHP: Compensation | 19 | 26 | 0 | 2 | 0 | 9 | 0 | 0 | 0 | 56 |
SHP: Environment | 22 | 75 | 1 | 7 | 0 | 31 | 0 | 0 | 0 | 136 |
SHP: Governance | 153 | 226 | 2 | 12 | 0 | 60 | 0 | 0 | 0 | 453 |
SHP: Misc | 1 | 1 | 1 | 0 | 0 | 7 | 0 | 0 | 0 | 10 |
SHP: Social | 47 | 123 | 0 | 2 | 0 | 82 | 0 | 0 | 0 | 254 |
Proposal Category Type | For | Against | Abstain | Take No Action |
Unvoted | Mixed | 1 Year | 2 Years | 3 Years | Total |
---|---|---|---|---|---|---|---|---|---|---|
Totals | 58,304 | 5,855 | 325 | 2,361 | 0 | 1,691 | 230 | 0 | 0 | 68,766 |
Audit/Financials | 8,899 | 0 | 0 | 373 | 0 | 340 | 0 | 0 | 0 | 9,612 |
Board Related | 34,712 | 3,548 | 215 | 1,261 | 0 | 708 | 0 | 0 | 0 | 40,444 |
Capital Management | 2,774 | 816 | 2 | 128 | 0 | 73 | 0 | 0 | 0 | 3,793 |
Changes to Company Statutes | 2,204 | 70 | 0 | 45 | 0 | 89 | 0 | 0 | 0 | 2,408 |
Compensation | 7,098 | 750 | 0 | 362 | 0 | 247 | 230 | 0 | 0 | 8,687 |
M&A | 648 | 7 | 0 | 6 | 0 | 19 | 0 | 0 | 0 | 680 |
Meeting Administration | 1,086 | 94 | 0 | 143 | 0 | 31 | 0 | 0 | 0 | 1,354 |
Other | 593 | 76 | 103 | 11 | 0 | 179 | 0 | 0 | 0 | 962 |
SHP: Compensation | 10 | 31 | 2 | 0 | 0 | 1 | 0 | 0 | 0 | 44 |
SHP: Environment | 31 | 85 | 2 | 6 | 0 | 2 | 0 | 0 | 0 | 126 |
SHP: Governance | 173 | 298 | 1 | 25 | 0 | 2 | 0 | 0 | 0 | 499 |
SHP: Social | 76 | 80 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 157 |
Proposal Category Type | For | Against | Abstain | Take No Action |
Unvoted | Mixed | 1 Year | 2 Years | 3 Years | Total |
---|---|---|---|---|---|---|---|---|---|---|
Totals | 36,707 | 3,693 | 65 | 1,374 | 0 | 0 | 187 | 0 | 0 | 42,026 |
Audit/Financials | 4,815 | 0 | 0 | 198 | 0 | 0 | 0 | 0 | 0 | 5,013 |
Board Related | 23,508 | 2,301 | 51 | 761 | 0 | 0 | 0 | 0 | 0 | 26,621 |
Capital Management | 1,755 | 164 | 1 | 61 | 0 | 0 | 0 | 0 | 0 | 1,981 |
Changes to Company Statutes | 1,141 | 40 | 0 | 18 | 0 | 0 | 0 | 0 | 0 | 1,199 |
Compensation | 4,614 | 687 | 0 | 219 | 0 | 0 | 187 | 0 | 0 | 5,707 |
M&A | 180 | 1 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 184 |
Meeting Administration | 300 | 28 | 1 | 95 | 0 | 0 | 0 | 0 | 0 | 424 |
Other | 111 | 10 | 1 | 6 | 0 | 0 | 0 | 0 | 0 | 128 |
SHP: Compensation | 9 | 42 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 53 |
SHP: Environment | 17 | 49 | 0 | 6 | 0 | 0 | 0 | 0 | 0 | 72 |
SHP: Governance | 180 | 285 | 8 | 7 | 0 | 0 | 0 | 0 | 0 | 480 |
SHP: Misc | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
SHP: Social | 74 | 84 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 159 |
Proposal Category Type | For | Against | Abstain | Take No Action |
Unvoted | Mixed | 1 Year |
2 Years |
3 Years |
Total |
---|---|---|---|---|---|---|---|---|---|---|
Totals | 51,730 | 5,055 | 365 | 2,252 | 0 | 4,107 | 328 | 0 | 0 | 63,837 |
Audit/Financials | 7,758 | 1 | 0 | 352 | 0 | 568 | 0 | 0 | 0 | 8,679 |
Board Related | 31,068 | 3,464 | 228 | 1,201 | 0 | 2,040 | 0 | 0 | 0 | 38,001 |
Capital Management | 3,109 | 324 | 4 | 106 | 0 | 329 | 0 | 0 | 0 | 3,872 |
Changes to Company Statutes | 1,678 | 47 | 0 | 77 | 0 | 154 | 0 | 0 | 0 | 1,956 |
Compensation | 5,781 | 671 | 0 | 327 | 0 | 440 | 328 | 0 | 0 | 7,547 |
M&A | 494 | 4 | 0 | 6 | 0 | 53 | 0 | 0 | 0 | 557 |
Meeting Administration | 1,180 | 93 | 1 | 135 | 0 | 203 | 0 | 0 | 0 | 1,612 |
Other | 347 | 35 | 126 | 40 | 0 | 219 | 0 | 0 | 0 | 767 |
SHP: Compensation | 26 | 44 | 1 | 0 | 0 | 29 | 0 | 0 | 0 | 100 |
SHP: Environment | 9 | 56 | 1 | 4 | 0 | 13 | 0 | 0 | 0 | 83 |
SHP: Governance | 206 | 239 | 4 | 4 | 0 | 44 | 0 | 0 | 0 | 497 |
SHP: Social | 73 | 73 | 0 | 0 | 0 | 15 | 0 | 0 | 0 | 161 |
SHP: Misc. | 1 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
Proposal Category Type | For | Against | Abstain | Take No Action |
Unvoted | Mixed | 1 Year |
2 Years |
3 Years |
Total |
---|---|---|---|---|---|---|---|---|---|---|
Totals | 52,132 | 5,074 | 476 | 2,429 | 0 | 5,144 | 254 | 0 | 0 | 65,509 |
Audit/Financials | 8,148 | 1 | 37 | 384 | 0 | 627 | 0 | 0 | 0 | 9,197 |
Board Related | 31,164 | 3,586 | 300 | 1,286 | 0 | 2,705 | 0 | 0 | 0 | 39,041 |
Capital Management | 3,185 | 330 | 2 | 94 | 0 | 323 | 0 | 0 | 0 | 3,934 |
Changes to Company Statutes | 1,577 | 71 | 13 | 43 | 0 | 239 | 0 | 0 | 0 | 1,943 |
Compensation | 6,095 | 629 | 13 | 390 | 0 | 446 | 254 | 0 | 0 | 7,827 |
M&A | 519 | 4 | 0 | 22 | 0 | 125 | 0 | 0 | 0 | 670 |
Meeting Administration | 887 | 59 | 25 | 175 | 0 | 303 | 0 | 0 | 0 | 1,449 |
Other | 311 | 19 | 79 | 19 | 0 | 293 | 0 | 0 | 0 | 721 |
SHP: Compensation | 17 | 27 | 0 | 0 | 0 | 16 | 0 | 0 | 0 | 60 |
SHP: Environment | 18 | 56 | 0 | 2 | 0 | 15 | 0 | 0 | 0 | 91 |
SHP: Governance | 176 | 194 | 4 | 14 | 0 | 39 | 0 | 0 | 0 | 427 |
SHP: Social | 33 | 91 | 2 | 0 | 0 | 13 | 0 | 0 | 0 | 139 |
SHP: Misc. | 2 | 7 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 10 |
Key to Table Headings & Examples of Categories
- Take No Action category includes:
- Clients that do not want to vote in certain markets due to confidentiality issues (e.g., not wanting to vote in registration/beneficial owner disclosure markets)
- Client accounts that do not vote in certain markets due to high costs of power of attorney registration
- ‘Share blocking’ markets where we choose not to vote so shares are not ‘tied up’ and prevented from being traded
- Any Russian security that is listed on the OFAC sanctions list
- Mixed category includes situations where there may be multiple client voting policies and voting groups where one policy or group can vote on a proposal in one manner (e.g., “TNA”) while the others may vote in a different manner (e.g., “For”)
- 1, 2 and 3 Years categories pertain to votes on the “Frequency of Advisory Vote on Executive Compensation,” and correspond to the time period that defines the “frequency.”
Examples of Category Types
- Board
- Size, Term Length
- Election of Directors
- Compensation
- Advisory Votes on Executive Compensation
- Advisory Votes on Severance
- Director Fees
- Shareholder Proposals on Environmental Issues
- Reporting on Environmental Issues
- Report/Action on Climate Change
- Report on Company Sustainability
- Shareholder Proposals on Governance Issues
- Board Independence
- Composition of Board
- Elimination of Supermajority Powers
- Shareholder Proposals on Social Issues
- Firearms
- Drug Pricing/Distribution
- Reporting on Political Spending