Aberdeen Latin America Equity Fund (LAQ) N-PX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-06094

Aberdeen Latin America Equity Fund, Inc.

(Exact name of registrant as specified in charter)

1735 Market Street, 32nd Floor

Philadelphia, PA 19103

(Address of principal executive offices) (Zip code)

Lucia Sitar, Esq.

c/o Aberdeen Asset Management Inc

1735 Market Street, 32nd Floor

Philadelphia, PA 19103

(Name and address of agent for service)

Registrant’s telephone number, including area code: (866) 839-5205

Date of fiscal year end: December 31st

Date of reporting period: July 1, 2013 – June 30, 2014

Item 1. Proxy Voting Record

PROXY VOTING RECORD

FOR PERIOD JULY 1, 2013 TO JUNE 30, 2014

Shares  Voted

Company Name

Ticker

Primary CUSIP

Meeting Date

Meeting Type

Ballot Status

Votable Shares

Proponent

Proposal Number

Proposal Text

Management Recommendation

Vote Instruction

Voter Rationale

1,901,000

Grupo Financiero Banorte SAB de CV

GFNORTEO

P49501201

3-Jul-13

Special

Confirmed

1,901,000

Management

1

Approve Increase in Variable Portion of Capital via Issuance of Shares without Preemptive Rights

For

For

1,901,000

Grupo Financiero Banorte SAB de CV

GFNORTEO

P49501201

3-Jul-13

Special

Confirmed

1,901,000

Management

2

Approve Public Offering of Shares in Mexico, the United States and Other Markets

For

For

1,901,000

Grupo Financiero Banorte SAB de CV

GFNORTEO

P49501201

3-Jul-13

Special

Confirmed

1,901,000

Management

3

Authorize Board to Ratify and Execute Approved Resolutions

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

15-Jul-13

Special

Confirmed

301,394

Management

1

Approve Increase in Board Size from 8 to 10 Members

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

2

Establish the Terms for the Election of Board Chairman and Vice-Chairman

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

3

Amend Articles 13, 18, and 21

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

4

Amend Articles to Reflect Changes in Capital

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

5

Fix Number of Directors

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

6

Accept Director Resignations

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.1

Elect Carolina Valle de Andrade Faria as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.2

Elect Welerson Cavalieri as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.3

Elect Juliana Rozenbaum as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.4

Elect Fabio Hering as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.5

Elect Rodrigo Calvo Galindo as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

7.6

Elect Claudia Elisa de Pinho Soares as Director

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

8

Elect Board Chairman and Vice-Chairman

For

For

301,394

Arezzo Industria e Comercio SA

ARZZ3

P3782F107

15-Jul-13

Special

Confirmed

301,394

Management

9

Amend Remuneration of Company’s Management

For

For

339,000

Cia. Hering

HGTX3

P50753105

30-Jul-13

Special

Confirmed

339,000

Management

1

Elect Director

For

For

255,366

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

30-Jul-13

Special

Confirmed

255,366

Management

1

Approve Company’s Reorganization Plan and Stock Swap Merger

For

For

255,366

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

30-Jul-13

Special

Confirmed

255,366

Management

2

Amend Articles to Reflect Changes in Capital

For

For

255,366

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

30-Jul-13

Special

Confirmed

255,366

Management

3

Approve Cancellation of Treasury Shares

For

For

255,366

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

30-Jul-13

Special

Confirmed

255,366

Management

4

Consolidate Bylaws

For

For

274,050

Localiza Rent A Car S.A

RENT3

P6330Z111

2-Aug-13

Special

Confirmed

274,050

Management

1

Appoint Independent Firm to Appraise Proposed Transaction

For

For

274,050

Localiza Rent A Car S.A

RENT3

P6330Z111

2-Aug-13

Special

Confirmed

274,050

Management

2

Approve Independent Firm’s Appraisal

For

For

274,050

Localiza Rent A Car S.A

RENT3

P6330Z111

2-Aug-13

Special

Confirmed

274,050

Management

3

Approve Acquisition Agreement between the Company and Localiza JF Aluguel de Carros Ltda.

For

For

274,050

Localiza Rent A Car S.A

RENT3

P6330Z111

2-Aug-13

Special

Confirmed

274,050

Management

4

Authorize Board to Ratify and Execute Approved Resolutions

For

For

77,000

SACI Falabella

FALABELLA

P3880F108

27-Aug-13

Special

Confirmed

77,000

Management

1

Authorize Share Repurchase Program in Accordance with Article 27 of Law No. 18.046 for Compensation Plan

For

Against

The company is submitting to shareholders approval a buy back program of up to 18m shares (0.75 percent of total shares) which is expected to be used to a new stock option plan. Although the amount involved in the buyback is limited, no further information was provided with regards to the features of the stock option plan mentioned. The IR contacted us by telephone stating that they were unable to provide additional information in advance as the details will be at the board discretion. It was also not clear if the stock option plan will be subject to a separate EGM in the future so the proposal has also bundled characteristics, which prevents us from supporting.

77,000

SACI Falabella

FALABELLA

P3880F108

27-Aug-13

Special

Confirmed

77,000

Management

2

Set Aggregate Nominal Amount, Objective and Duration of Share Repurchase Program

For

Against

The company is submitting to shareholders approval a buy back program of up to 18m shares (0.75 percent of total shares) which is expected to be used to a new stock option plan. Although the amount involved in the buyback is limited, no further information was provided with regards to the features of the stock option plan mentioned. The IR contacted us by telephone stating that they were unable to provide additional information in advance as the details will be at the board discretion. It was also not clear if the stock option plan will be subject to a separate EGM in the future so the proposal has also bundled characteristics, which prevents us from supporting.

77,000

SACI Falabella

FALABELLA

P3880F108

27-Aug-13

Special

Confirmed

77,000

Management

3

Authorize Board to Set Price of Shares Repurchase Program

For

Against

The company is submitting to shareholders approval a buy back program of up to 18m shares (0.75 percent of total shares) which is expected to be used to a new stock option plan. Although the amount involved in the buyback is limited, no further information was provided with regards to the features of the stock option plan mentioned. The IR contacted us by telephone stating that they were unable to provide additional information in advance as the details will be at the board discretion. It was also not clear if the stock option plan will be subject to a separate EGM in the future so the proposal has also bundled characteristics, which prevents us from supporting.

77,000

SACI Falabella

FALABELLA

P3880F108

27-Aug-13

Special

Confirmed

77,000

Management

4

Adopt All Necessary Agreements to Execute Approved Resolutions

For

Against

The company is submitting to shareholders approval a buy back program of up to 18m shares (0.75 percent of total shares) which is expected to be used to a new stock option plan. Although the amount involved in the buyback is limited, no further information was provided with regards to the features of the stock option plan mentioned. The IR contacted us by telephone stating that they were unable to provide additional information in advance as the details will be at the board discretion. It was also not clear if the stock option plan will be subject to a separate EGM in the future so the proposal has also bundled characteristics, which prevents us from supporting.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

1

Approve Sale of Innova SA

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

2

Approve Absorption of Comperj Participacoes S.A. (COMPERJPAR)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

3

Approve Absorption of Comperj Estirenicos S.A. (EST)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

4

Approve Absorption of Comperj Meg S.A.(MEG)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

5

Approve Absorption of Comperj Poliolefinas S.A.(POL)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

6

Approve Absorption of SFE - Sociedade Fluminense de Energia Ltda. (SFE)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

30-Sep-13

Special

Confirmed

46,000

Management

7

Waive Petrobras’ Preemptive Rights to Subscribe Convertible Debentures to be Issued by Sete Brasil Participacoes SA

For

For

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

14-Oct-13

Special

Confirmed

1,937,097

Management

1

Approve Dividends of MXN 0.7852 Per Share

For

For

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

14-Oct-13

Special

Confirmed

1,937,097

Management

2

Receive Board’s Report on Public Offering of Shares and Capital Increase

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

14-Oct-13

Special

Confirmed

1,937,097

Management

3

Receive External Auditor’s Report on Fiscal Obligations

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

14-Oct-13

Special

Confirmed

1,937,097

Management

4

Authorize Board to Ratify and Execute Approved Resolutions

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

23-Oct-13

Special

Confirmed

692,000

Management

a

Authorize Increase in Capital via Share Issuance in the Amount of CLP 115 Billion

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

23-Oct-13

Special

Confirmed

692,000

Management

b

Approve Allocation of 10 Percent of Capital Increase for Compensation Plan

For

Against

Mgmt failed to provide the details regarding the key features of the stock-option plan, and proposal gives discretion to the board, so we are unable to assess the characteristics of the stock-option plan ahead of the EGM. IR provided additional information by e-mail but still insufficient to change conclusion.

692,000

Parque Arauco S.A.

PARAUCO

P76328106

23-Oct-13

Special

Confirmed

692,000

Management

c

Amend Articles to Reflect Changes in Capital

For

Against

Mgmt failed to disclose the proposed amendments ahead of the meeting.

692,000

Parque Arauco S.A.

PARAUCO

P76328106

23-Oct-13

Special

Confirmed

692,000

Management

d

Approve Subscription of Shares in Connection with Company’s Capital Increase

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

23-Oct-13

Special

Confirmed

692,000

Management

e

Authorize Board to Ratify and Execute Approved Resolutions

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

5-Dec-13

Special

Confirmed

25,113,969

Management

1

Approve Offer by Banco Santander SA to Acquire Shares of Company Subsidiary Santander Asset Management SA Administradora General de Fondos (SAM); Approve Service Contract between Company and SAM

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

5-Dec-13

Special

Confirmed

25,113,969

Management

2

Receive Report Regarding Related-Party Transactions

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

5-Dec-13

Special

Confirmed

25,113,969

Management

3

Authorize Board to Ratify and Execute Approved Resolutions

For

For

104,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

6-Dec-13

Special

Confirmed

104,402

Management

1

Approve Dividends of MXN 0.33 per Class B Share, MXN 0.42 per Class D Share, MXN 1.67 per B Unit and MXN 2 per BD Unit

For

For

104,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

6-Dec-13

Special

Confirmed

104,402

Management

2

Authorize Board to Ratify and Execute Approved Resolutions

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

16-Dec-13

Special

Confirmed

46,000

Management

1

Approve Absorption of Refinaria Abreu e Lima S.A. (RNEST)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

16-Dec-13

Special

Confirmed

46,000

Management

2

Approve Absorption of Companhia de Recuperacao Secundaria (CRSec)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

16-Dec-13

Special

Confirmed

46,000

Management

3

Approve Partial Spin-Off of Petrobras International Finance Company S.A. (PIIFCO)

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Dec-13

Special

Confirmed

268,000

Management

1

Open Meeting/Verify Quorum

268,000

Bancolombia SA

PFBCOLOM

17-Dec-13

Special

Confirmed

268,000

Management

2

Approve Meeting Agenda/Notice

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Dec-13

Special

Confirmed

268,000

Management

3

Elect Meeting Approval Committee

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Dec-13

Special

Confirmed

268,000

Management

4

Approve Dematerialization of the Issued and Outstanding Common Shares and Preferred Shares of Bancolombia SA

For

For

51,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

19-Dec-13

Special

Confirmed

51,134

Management

1

Approve Extraordinary Dividends of MXN 4.40 per Class B and BB Shares

For

For

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

20-Dec-13

Special

Confirmed

1,937,097

Management

1

Amend Resolution Related to Dividend Payment Dates of Jan. 23, 2014 and April 23, 2014 as Approved at Oct. 14, 2013 Ordinary Shareholder Meeting

For

For

1,937,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

20-Dec-13

Special

Confirmed

1,937,097

Management

2

Authorize Board to Ratify and Execute Approved Resolutions

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

1

Approve Agreement to Absorb Companhia de Bebidas das Americas - Ambev

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

2

Appoint Independent Firm to Appraise Proposed Transaction

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

3

Approve Independent Firm’s Appraisal

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

4

Approve Absorption of Companhia de Bebidas das Americas - Ambev

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

5

Approve Acquisition Agreement between the Company and Ambev Brasil Bebidas S.A. (Ambev Brasil)

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

6

Appoint Independent Firm to Appraise Proposed Transaction

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

7

Approve Independent Firm’s Appraisal

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

8

Approve Acquisition of Ambev Brasil and Issuance of Shares in Connection with Acquisition

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

9

Amend Article 5 to Reflect Changes in Capital

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

10

Amend Corporate Purpose

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

11

Authorize Board to Ratify and Execute Approved Resolutions

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.1

Elect Victorio Carlos de Marchi as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.2

Elect Carlos Alves de Brito as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.3

Elect Marcel Hermann Telles as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.4

Elect Jose Heitor Attilio Gracioso as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.5

Elect Vicente Falconi Campos as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.6

Elect Luis Felipe Pedreira Dutra Leite as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.7

Elect Roberto Moses Thompson Motta as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.8

Elect Alvaro Antonio Cardoso de Sousa as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.9

Elect Paulo Alberto Lemann as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.10

Elect Antonio Carlos Augusto Ribeiro Bonchristiano as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.11

Elect Marcos de Barros Lisboa as Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

12.12

Elect Luiz Fernando Ziegler de Saint Edmond as Alternate Director

For

For

1,276,830

AMBEV SA

ABEV3

2-Jan-14

Special

Rejected - No PoA

1,276,830

Management

13

Consolidate Bylaws

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

8-Jan-14

Special

Rejected - No POA

289,400

Management

1

Approve Stock Option Plan

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

8-Jan-14

Special

Rejected - No POA

289,400

Management

2

Approve Increase in Authorized Capital

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

27-Jan-14

Special

Confirmed

831,000

Management

1

Elect Randal Luiz Zanetti as Director

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

1

Approve Merger Agreement between the Company and Imifarma Produtos Farmaceuticos S.A.

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

2

Appoint Independent Firm to Appraise Proposed Transaction

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

3

Approve Independent Firm’s Appraisal

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

4

Approve Issuance of Shares in Connection with Merger

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

5

Amend Articles to Reflect Changes in Capital

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

6

Approve Issuance of Subscription Warrants in Connection with Merger

For

For

431,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

31-Jan-14

Special

Confirmed

431,000

Management

7

Authorize Board to Ratify and Execute Approved Resolutions

For

For

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Annual

Confirmed

1,493,970

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Annual

Confirmed

1,493,970

Management

2

Approve Allocation of Income and Dividends

For

For

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Annual

Confirmed

1,493,970

Management

3

Elect Directors

For

Abstain

Although we have no issuees with the company they have bundled the election of all candidates into a single voting item. Board also doesn’t have any true independent, as a member of Nivel 1 at Bovespa they aren’t subject to a minimum board independence but ideally we would like to have an independent representation at the board level.

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Annual

Confirmed

1,493,970

Management

4

Elect Fiscal Council Members

For

Abstain

Also a bundled resolution and no independents.

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Annual

Confirmed

1,493,970

Management

5

Approve Remuneration of Company’s Management

For

Against

The proposed global annual remuneration of R$250m + R$250m in pension benefits is same as proposed last year and 2012 however the company failed to comply with CVM rules to disclose the amount of the highest paid executive and board member and we should support CVM in their efforts to improve transparency. Also, Bradesco disclosure is fairly opaque as it includes near 100 individuals which prevent shareholders from having a transparent view of the compensation of top executives.

1,493,970

Banco Bradesco S.A.

BBDC4

P1808G117

10-Mar-14

Special

Confirmed

1,493,970

Management

1

Amend Article 12

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

1

Accept Financial Statements and Statutory Reports

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

2

Accept Report on Adherence to Fiscal Obligations

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

3

Approve Allocation of Income

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

4

Set Aggregate Nominal Share Repurchase Reserve

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

5

Elect Directors and Secretaries, Verify Independence of Directors, and Approve their Remuneration

For

Abstain

ISS recommend voting in favour but these items bundle together the election of various directors, committees and their respective remuneration.

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

6

Elect Members and Chairmen of Finance and Planning, Audit, and Corporate Practices Committees; Approve Their Remuneration

For

Abstain

ISS recommend voting in favour but these items bundle together the election of various directors, committees and their respective remuneration.

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

7

Authorize Board to Ratify and Execute Approved Resolutions

For

For

94,402

Fomento Economico Mexicano S.A.B. de C.V. FEMSA

FEMSAUBD

P4182H115

14-Mar-14

Annual

Confirmed

94,402

Management

8

Approve Minutes of Meeting

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Annual

Confirmed

156,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Annual

Confirmed

156,000

Management

2

Approve Allocation of Income and Dividends

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Annual

Confirmed

156,000

Management

3

Elect Directors

For

Abstain

Good level of independence (6 out of 7 candidates are independent), though the voting item is bundled. We have engaged with the company on this.

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Annual

Confirmed

156,000

Management

4

Approve Remuneration of Executive Officers and Non-Executive Directors

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Special

Confirmed

156,000

Management

1

Approve Acquisition of W&D Participacoes SA

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Special

Confirmed

156,000

Management

2

Approve Acquisition of 60 Percent of PRX Solucoes em Gestao Agroindustrial Ltda and P2RX Solucoes em Software S/S Ltda.

For

For

156,000

TOTVS SA

TOTS3

P92184103

14-Mar-14

Special

Confirmed

156,000

Management

3

Approve Acquisition of 70 Percent of Ciashop Solucoes para Comercio Eletronico SA

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

1

Open Meeting/Verify Quorum

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

2

Approve Meeting Agenda/Notice

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

3

Elect Meeting Approval Committee

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

4

Approve Board and Chairman Reports

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

5

Present Individual and Consolidated Financial Statements

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

6

Accept External Auditor’s Report

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

7

Approve Financial Statements and Management Report

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

8

Approve Allocation of Income

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

9

Elect Directors

For

Abstain

The names of the candidates were not disclosed ahead of the meeting and resolution is bundled.

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

10

Approve Remuneration of Directors

For

Abstain

In line with market practice amounts were not disclosed ahead of the meeting.

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

11

Appoint Auditors for Period 2014-2016

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

12

Authorize Board to Fix Remuneration of Auditor

For

For

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

13

Approve Donations

For

Against

In absence of disclosure of amounts involved ahead of the meeting we are unable to assess the impact of the decision, therefore this item does not merit our support.

268,000

Bancolombia SA

PFBCOLOM

17-Mar-14

Annual

Confirmed

268,000

Management

14

Other Business (Voting)

For

Against

In line with market practices this is an open item for matters that may be raised during the meeting. Given the open nature of this item investors voting via proxy are not able to assess the impact of the decision and therefore the best action is to vote against.

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

2

Approve Allocation of Income and Dividends

For

For

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

3

Elect Directors

For

For

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

4

Approve Remuneration of Executive Officers and Non-Executive Directors

For

For

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

5

Install Fiscal Council

For

For

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Annual

Confirmed

338,000

Management

6

Elect Fiscal Council Members and Approve their Remuneration

For

Abstain

Resolution is bundled and we are not aware of the candidate that will be appointed by minority shareholders at the AGM so it is best to abstain.

338,000

Souza Cruz S.A.

CRUZ3

P26663107

19-Mar-14

Special

Confirmed

338,000

Management

1

Amend Article 10

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

1

Verify Quorum

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

2

Approve Meeting Agenda

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

3

Elect Meeting Approval Committee

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

4

Present Board of Directors and Chairman’s Report

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

5

Present Individual and Consolidated Financial Statements and Statutory Reports

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

6

Present Auditor’s Report

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

7

Approve Management Report, Financial Statements and Statutory Reports

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

8

Approve Remuneration of Directors

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

9

Elect Directors

For

Abstain

Name of the candidates were not disclosed prior to the meeting and resolution is bundled.

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

10

Appoint Auditors

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

11.1

Approve Allocation of Income

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

11.2

Approve Donations

For

Against

Although amounts were disclosed ahead of the meeting the nature and rationale of such donations were not informed so we cannot assess the impact of the proposals.

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

11.3

Amend Bylaws

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

11.4

Approve General Meeting Regulations

For

For

233,901

Almacenes Exito S.A.

EXITO

20-Mar-14

Annual

Confirmed

233,901

Management

12

Other Business

For

Against

Given the open nature of this item investors voting via proxy are not able to asses the impact of the decision and therefore best action is to vote against.

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1a

Approve Board of Directors’ Report

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1b

Approve CEO’s Reports

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1c

Approve Report of Audit and Corporate Practices Committees

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1d

Approve Report on Adherence to Fiscal Obligations

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1e

Approve Report Re: Employee Stock Purchase Plan

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1f

Approve Report on Share Repurchase Reserves

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

1g

Approve Report on Wal-Mart de Mexico Foundation

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

2

Approve Consolidated Financial Statements

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

3

Approve Allocation of Income and Dividends

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

4

Approve Reduction in Share Capital via Cancellation of Treasury Shares

For

For

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

5

Elect or Ratify Directors, Chairmen of Audit and Corporate Governance Committees; Approve Their Remuneration

For

Abstain

After engaging with IR to confirm the nominees, ISS has amended its recommendation to support this item (previously recommended voting against). However the proposal bundles together the election of various directors, committees and their respective remuneration.

1,750,000

Wal-Mart de Mexico S.A.B. de C.V.

WALMEXV

P98180105

20-Mar-14

Annual

Confirmed

1,750,000

Management

6

Authorize Board to Ratify and Execute Approved Resolutions

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

24-Mar-14

Annual

Confirmed

757,563

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

24-Mar-14

Annual

Confirmed

757,563

Management

2

Approve Allocation of Income and Dividends

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

24-Mar-14

Annual

Confirmed

757,563

Management

3

Approve Remuneration of Company’s Management

For

Against

Despite the modest increase in year to year compensation as compared to the increase seen last year, the absolute amount remains high and the company failed to provide clear metrics used for its option plan which comprises a substantial part of executive remuneration. We are also not supportive of options having been granted at a discount to market price. Whilst not disclosing KPIs for stock option programs and granting options at a discount to market price are uncommon in Brazil, as the local stock exchange they should be setting higher standards.

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

1

Approve Financial Statements and Statutory Reports

For

For

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

2

Approve Allocation of Income and Dividends of CLP 3.48 Per Share

For

For

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

3

Elect Directors

For

Abstain

Names of the candidates were not disclosed ahead of the meeting and as standard in Chile the resolution is bundled. Having emailed the IR asking further information but according to the law candidates can be proposed until a few days prior to the meeting so no information available yet.

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

4

Approve Remuneration of Directors

For

Abstain

Although amounts paid in 2013 are reasonable and there is no concern with current levels the absence of disclosure ahead of the meeting prevents us from making an informed decision.

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

5

Approve Remuneration and Budget of Directors and Audit Committee

For

Abstain

Although amounts paid in 2013 are reasonable and there is no concern with current levels the absence of disclosure ahead of the meeting prevents us from making an informed decision.

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

6

Appoint Auditors

For

For

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

7

Present Directors and Audit Committee’s Report

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

8

Receive Report Regarding Related-Party Transactions

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Annual

Confirmed

11,653,724

Management

9

Transact Other Business (Non-Voting)

11,653,724

Banco de Chile

CHILE

P0939W108

27-Mar-14

Special

Confirmed

11,653,724

Management

1

Authorize Increase in Capital via Capitalization of 30 Percent of Distributable Net Income for FY 2013; Amend Articles to Reflect Changes in Capital; Authorize Board to Ratify and Execute Approved Resolutions

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

1

Approve Annual Corporate Governance Report and Audited Individual and Consolidated Financial Statements for Fiscal Year 2013

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

2

Approve Allocation of Income

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

3

Approve Remuneration of Directors

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

4

Appoint Auditors

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.1

Elect José Graña Miró Quesada as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.2

Elect Carlos Montero Graña as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.3

Elect Hernando Graña Acuña as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.4

Elect Mario Alvarado Pflucker as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.5

Elect José Chlimper Ackerman as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.6

Elect Hugo Santa Marìa as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.7

Elect Pedro Pablo Errazuriz as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.8

Elect Federico Cúneo de la Piedra as Director

For

For

99,711

Grana Y Montero SAA

GRAMONC1

P4902L107

28-Mar-14

Annual

Confirmed

99,711

Management

5.9

Elect Mark Hoffmann Rosas as Director

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Annual

Confirmed

831,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Annual

Confirmed

831,000

Management

2

Approve Allocation of Income and Dividends

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Annual

Confirmed

831,000

Management

3

Approve Remuneration of Company’s Management

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Annual

Confirmed

831,000

Management

4

Fix Board Size and Elect Directors

For

Abstain

Company has once again bundled the election. We discussed this issue with the company in 2013 and they said they would look into changing it, but apparently they did not. ISS is recommending to vote against on a relatively low level of independence in the board which does not represent their 45 percent free-float and is not in line with ISS recommended independence level of 35 percent, which I think is a bit harsh given that the company current level of independence (22 percent) is in line with Novo Mercado requirements.

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Annual

Confirmed

831,000

Management

5

Elect Fiscal Council Members

For

Abstain

Company has also bundled the elections for the fiscal council.

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

1

Approve Agreement to Absorb ADCON - Administradora de Convenios Odontologicos Ltda.

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

2

Appoint Independent Firm to Appraise Proposed Transaction

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

3

Approve Independent Firm’s Appraisal

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

4

Approve Absorption of ADCON - Administradora de Convenios Odontologicos Ltda.

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

5

Authorize Executive Committee to Ratify and Execute Approved Resolutions

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

6

Change Location of Company Headquarters

For

For

831,000

Odontoprev S.A.

ODPV3

P7344M104

1-Apr-14

Special

Confirmed

831,000

Management

7

Amend Article 19

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

Against

Although this is a fairly standard request we have concerns over the decision to adopt hedge accounting since last year and whether this is in fact the most appropriate accounting method or if this was adopted to artificially improve earnings during a period of fx volatility.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

2

Approve Capital Budget for Upcoming Fiscal Year

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

3

Approve Allocation of Income and Dividends

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

4.a

Elect Directors Appointed by Controlling Shareholder

For

Abstain

Abstain to elect directors appointed by controlling shareholders as we would like to vote for the director appointed by minority ordinary shareholders.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Share Holder

4.b

Elect Mauro Gentile Rodrigues da Cunha as Director Appointed by Minority Ordinary Shareholders

None

For

Vote FOR to elect Mauro Gentile Rodrigues da Cunha as director appointed by minority ordinary holders as he is a true independent with the required knowledge and skills to defend shareholders rights at the board level.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

5

Elect Board Chairman

For

Against

The government has been increasing its influence over the business and over his role of chairman where he has not been paying due regard to the interest of all shareholders of the company including minorities as decisions at the board level have been detrimental to the business.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

6.a

Elect Fiscal Council Members Appointed by Controlling Shareholder

For

Abstain

Abstain to elect fiscal council members appointed by controlling shareholders as we would like to vote for the members proposed by minority ordinary shareholders.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Share Holder

6.b

Elect Reginaldo Ferreira Alexandre and Mario Cordeiro Filho (Alternate) as Fiscal Council Members Appointed by Minority Ordinary Shareholders

None

For

Vote FOR to elect Reginaldo Ferreira Alexandre and Mario Cordeiro Filho (as alternate) as fiscal council members appointed by minority ordinary shareholders, they are also true independent members with good knowledge and skills for the position.

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

1

Approve Remuneration of Company’s Management

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

2

Authorize Capitalization of Reserves

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

3

Approve Absorption of Termoacu S.A. (Termoacu)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

4

Approve Absorption of Termoceara Ltda (Termoceara)

For

For

46,000

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual/Special

Confirmed

46,000

Management

5

Approve Absorption of Companhia Locadora de Equipamentos Petroliferos (CLEP)

For

For

1,201,433

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual

Confirmed

1,201,433

Share Holder

4.b.1

Elect Jose Guimaraes Monforte as Director Nominated by Preferred Shareholders

None

For

Vote FOR to elect Jose Guimaraes Monforte as director nominated by preferred shareholders as he brings greater independence and accountability to shareholders and has the knowledge and skills required for the position.

1,201,433

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual

Confirmed

1,201,433

Share Holder

4.b.2

Elect Jose Gerdau Johannpeter as Director Nominated by Preferred Shareholders

None

Abstain

Abstain on Jose Gerdau Johannpeter or any other candidate.

1,201,433

Petroleo Brasileiro SA-Petrobras

PETR4

P78331140

2-Apr-14

Annual

Confirmed

1,201,433

Share Holder

6.b.1

Elect Walter Luis Bernardes Albertoni and Roberto Lamb (Alternate) as Fiscal Council Members Nominated by Preferred Shareholders

None

For

Vote FOR to re-elect Walter Luis Bernardes Albertoni and Roberto Lamb (alternate) as fiscal council members nominated by pref shareholders. True independent members with good knowledge and skills required for the fiscal council position.

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Annual

Approved

191,368

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Annual

Approved

191,368

Management

2

Approve Allocation of Income and Dividends

For

For

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Annual

Approved

191,368

Management

3

Elect Fiscal Council Members

For

For

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Special

Approved

191,368

Management

1

Elect Director

For

For

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Special

Approved

191,368

Management

2

Approve Remuneration of Company’s Management

For

For

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Special

Approved

191,368

Management

3

Amend Stock Option Plan

For

Abstain

The company has not provided us with a rationale for the inclusion of three extraordinary grants in the current stock option plan.

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Special

Approved

191,368

Management

4

Approve Stock Option Performance Plan

For

Against

The plan lacks clear metrics for measurement of the achievement of goals, and vesting seems too short (minimum 18m / maximum 24m).

191,368

BRF SA

BRFS3

P1905C100

3-Apr-14

Special

Approved

191,368

Management

1

Amend Articles

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

7-Apr-14

Special

Confirmed

757,563

Management

1

Approve Restricted Stock Plan

For

Against

The proposed plan lacks definition of a minimum vesting period and clearly defined performance criteria. It grants the board ample discretion to set terms and conditions of stock grants.

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

7-Apr-14

Special

Confirmed

757,563

Management

2.1

Amend Article 5 to Reflect Changes in Capital

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

7-Apr-14

Special

Confirmed

757,563

Management

2.2

Amend Article 16

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

7-Apr-14

Special

Confirmed

757,563

Management

2.3

Amend Articles

For

For

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

1

Accept Financial Statements and Statutory Reports

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

2

Present CEO and External Auditor Report

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

3

Present Board of Directors’ Report in Accordance with Art. 28, Section IV of Stock Market Law Including Tax Report

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

4

Authorize Board to Ratify and Execute Approved Resolutions in Proposals 1 and 2 of this Agenda

For

For

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

5

Approve Allocation of Income, Increase in Reserves and Set Aggregate Nominal Amount of Share Repurchase

For

For

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

6

Elect or Ratify Directors and Chairmen of Audit, Corporate Practices, Finance, Planning and Sustainability Committees

For

Abstain

Names of the directors are disclosed by the company but would abstain as it is a bundled resolution.

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

7

Approve Remuneration of Directors and Other Committees

For

For

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

8

Approve Reduction in Share Capital and Consequently Amend Article 6 of Bylaws

For

For

165,000

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

OMAB

P49530101

10-Apr-14

Annual/Special

Confirmed

165,000

Management

9

Appoint Legal Representatives

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

2

Approve Allocation of Income and Dividends

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

3

Fix Number of Directors

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.1

Elect Plinio Villares Musetti as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.2

Elect Antonio Luiz da Cunha Seabra as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.3

Elect Pedro Luiz Barreiros Passos as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.4

Elect Guilherme Peirao Leal as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.5

Elect Julio Moura Neto as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.6

Elect Luiz Ernesto Gemignani as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.7

Elect Marcos de Barros Lisbboa as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

4.8

Elect Raul Gabriel Beer Roth as Director

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Annual

Confirmed

319,000

Management

5

Approve Remuneration of Company’s Management

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Special

Confirmed

319,000

Management

1.1

Amend Article 21 Re: Size of Executive Committee

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Special

Confirmed

319,000

Management

1.2

Amend Article 21 Re: Election of Executive Committee

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Special

Confirmed

319,000

Management

2

Amend Article 24

For

For

319,000

Natura Cosmeticos S.A.

NATU3

P7088C106

11-Apr-14

Special

Confirmed

319,000

Management

3

Consolidate Bylaws

For

For

386,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

16-Apr-14

Annual

Confirmed

386,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

386,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

16-Apr-14

Annual

Confirmed

386,000

Management

2

Approve Allocation of Income and Dividends

For

For

386,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

16-Apr-14

Annual

Confirmed

386,000

Management

3

Approve Remuneration of Company’s Management

For

For

386,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

16-Apr-14

Annual

Confirmed

386,000

Management

4

Elect Fiscal Council Members

For

For

386,000

Ultrapar Participacoes S.A.

UGPA3

P94396101

16-Apr-14

Annual

Confirmed

386,000

Management

4.1

Approve Fiscal Council Remuneration

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

2

Approve Allocation of Income and Dividends

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

3

Fix Number of Directors

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

4

Elect Directors

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

5

Approve Remuneration of Company’s Management

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

6

Fix Number of Fiscal Council Members

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

7

Elect Fiscal Council Members

For

For

333,096

Lojas Renner

LREN3

P6332C102

17-Apr-14

Annual

Confirmed

333,096

Management

8

Fix Remuneration of Fiscal Council Members

For

For

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

2

Approve Allocation of Income and Dividends

For

For

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

3

Elect Alternate Directors

For

Abstain

Bundled resolution.

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

4

Elect Fiscal Council Members

For

Abstain

Bundled resolution.

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

5

Approve Remuneration of Company’s Management

For

Against

The company failed to make all disclosures required by CVM, reducing transparency of compensation reporting to shareholders.

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

6

Approve Cancellation of Treasury Shares

For

For

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

7

Authorize Capitalization of Reserves

For

For

1,277,359

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

1,277,359

Management

8

Amend Article 5 to Reflect Changes in Capital

For

For

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

2

Approve Allocation of Income and Dividends

For

For

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

3

Elect Alternate Directors

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Share Holder

4

Elect Fiscal Council Member(s) Nominated by Preferred Shareholders

None

Abstain

Bundled resolution.

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

5

Approve Remuneration of Company’s Management

For

Against

The company failed to make all disclosures required by CVM, reducing transparency of compensation reporting to shareholders.

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

1

Approve Cancellation of Treasury Shares

For

For

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

2

Authorize Capitalization of Reserves

For

For

213,117

Vale S.A.

VALE5

P2605D109

17-Apr-14

Annual/Special

Confirmed

213,117

Management

3

Amend Article 5 to Reflect Changes in Capital

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

2

Approve Allocation of Income and Dividends

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

3

Present Dividend Policy

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

4

Approve Remuneration of Directors, Directors’ Committee and Audit Committee Members

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

5

Appoint Auditors

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

6

Inform Designation of Fitch Ratings and ICR Humphreys as Risk Assessment Companies

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

7

Present Report Regarding Related-Party Transactions

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

8

Designate Newspaper to Publish Meeting Announcements

For

For

318,000

Embotelladora Andina S.A.

ANDINA-B

P3697S103

21-Apr-14

Annual

Confirmed

318,000

Management

9

Other Business (Voting)

For

Against

We are not able to assess the impact of decisions that may be taken during the meeting so safer stance is to vote against.

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

1

Approve Financial Statements and Statutory Reports

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

2

Approve Allocation of Income and Dividends of CLP 1.41 Per Share

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

3

Appoint Auditors

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

4

Designate Risk Assessment Companies

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.1

Reelect Mauricio Larraìn as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.2

Reelect Carlos Olivos as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.3

Reelect Oscar von Chrismar as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.4

Reelect Vittorio Corbo as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.5

Reelect Vìctor Arbulú as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.6

Reelect Marco Colodro as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.7

Reelect Roberto Méndez as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.8

Reelect Lucìa Santa Cruz as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.9

Reelect Lisandro Serrano as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.10

Reelect Roberto Zahler as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

5.11

Reelect Juan Pedro Santa Marìa as Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Share Holder

5.12

Elect Alfredo Ergas as Director

None

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

6

Elect Raimundo Monge as Alternate Director

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

7

Approve Remuneration of Directors

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

8

Approve Remuneration and Budget of Directors’ Committee and Audit Committee; Receive Directors and Audit Committee’s Report

For

For

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

9

Receive Report Regarding Related-Party Transactions

25,113,969

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Approved

25,113,969

Management

10

Transact Other Business (Non-Voting)

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

1

Approve Financial Statements and Statutory Reports

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

2

Approve Allocation of Income and Dividends of CLP 1.41 Per Share

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

3

Appoint Auditors

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

4

Designate Risk Assessment Companies

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.1

Reelect Mauricio Larraìn as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.2

Reelect Carlos Olivos as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.3

Reelect Oscar von Chrismar as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.4

Reelect Vittorio Corbo as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.5

Reelect Vìctor Arbulú as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.6

Reelect Marco Colodro as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.7

Reelect Roberto Méndez as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.8

Reelect Lucìa Santa Cruz as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.9

Reelect Lisandro Serrano as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.1

Reelect Roberto Zahler as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

5.11

Reelect Juan Pedro Santa Marìa as Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Share Holder

5.12

Elect Alfredo Ergas as Director

None

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

6

Elect Raimundo Monge as Alternate Director

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

7

Approve Remuneration of Directors

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

8

Approve Remuneration and Budget of Directors’ Committee and Audit Committee; Receive Directors and Audit Committee’s Report

For

For

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

9

Receive Report Regarding Related-Party Transactions

175,505

Banco Santander Chile

BSANTANDER

P1506A107

22-Apr-14

Annual

Confirmed

175,505

Management

10

Transact Other Business (Non-Voting)

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

1

Accept Financial Statements and Statutory Reports

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

2

Approve Allocation of Income and Dividends of CLP 5 Per Share

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

3

Elect Directors

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

4

Approve Report Regarding Related-Party Transactions

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

5

Appoint Auditors and Designate Risk Assessment Companies

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

6

Approve Remuneration of Directors; Approve Remuneration and Budget of Directors’ Committee

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

7

Approve Dividend Policy and Distribution Procedures

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Annual

Approved

298,570

Management

8

Other Business (Voting)

For

Against

Insufficient information.

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Special

Approved

298,570

Management

1

Approve Increase in Capital Up to a Maximum of $ 250 Million via Share Issuance

For

For

298,570

Empresas CMPC S.A.

CMPC

P3712V107

22-Apr-14

Special

Approved

298,570

Management

2

Authorize Board to Ratify and Execute Approved Resolutions

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

2

Approve Remuneration of Directors for Fiscal Year 2014 and Accept Expense Report of Board of Directors for Fiscal Year 2013

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

3

Present Report Re: Directors’ Committee Activities and Expenses; Fix Their Remuneration and Budget

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

4

Approve Report Regarding Related-Party Transactions

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

5

Appoint Auditors

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

6

Designate Risk Assessment Companies

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

7

Designate Newspaper to Publish Meeting Announcements

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

8

Approve Allocation of Income and Dividend Policy

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Annual

Approved

692,000

Management

9

Other Business (Voting)

For

Against

Standard open item of the agenda as required under Chilean regulation. We are not able to assess the impact of decisions that may be taken during the meeting so safer stance is to vote against.

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Special

Approved

692,000

Management

1

Approve Any Modification to Share Capital

For

For

692,000

Parque Arauco S.A.

PARAUCO

P76328106

22-Apr-14

Special

Approved

692,000

Management

2

Amend Bylaws; Adopt All Necessary Agreements to Execute Approved Resolutions

For

For

397,000

Cia. Hering

HGTX3

P50753105

23-Apr-14

Annual

Confirmed

397,000

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

397,000

Cia. Hering

HGTX3

P50753105

23-Apr-14

Annual

Confirmed

397,000

Management

2

Approve Capital Budget

For

For

397,000

Cia. Hering

HGTX3

P50753105

23-Apr-14

Annual

Confirmed

397,000

Management

3

Approve Allocation of Income and Dividends

For

For

397,000

Cia. Hering

HGTX3

P50753105

23-Apr-14

Annual

Confirmed

397,000

Management

4

Approve Remuneration of Company’s Management

For

For

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

1

Accept Financial Statements and Statutory Reports

For

For

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

2

Elect Directors

For

Against

Name of the candidates were not disclosed and resolution is bundled. Although the disclosure of names ahead of the meeting is not a requirement in Chile we have seen many companies disclosing the names and should encourage others to follow the same practice. We have contacted IR asking for disclosure of the names ahead of the meeting but have had no response yet.

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

3

Approve Report Regarding Related-Party Transactions

For

For

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

4

Approve Remuneration of Directors

For

Abstain

Although we do not have any particular concern with regards to remuneration level, management failed to disclose the amounts proposed ahead of the meeting.

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

5

Approve Remuneration and Budget of Directors’ Committee; Present Report on Directors’ Committee Expenses and Activities

For

Abstain

Although we do not have any particular concern with regards to remuneration level, management failed to disclose the amounts proposed ahead of the meeting.

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

6

Appoint Auditors and Designate Risk Assessment Companies

For

For

98,000

Empresas Copec S.A.

COPEC

P7847L108

23-Apr-14

Annual

Approved

98,000

Management

7

Other Business (Voting)

For

Against

Insufficient information.

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

2

Approve Allocation of Income and Dividends

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

3

Approve Remuneration of Directors

For

Abstain

In line with market practice in Chile no disclosure was made on proposals for remuneration. We have engaged with the company asking further details but IR failed to inform the amounts that will be taken to shareholder approval. ISS recommended investors to vote for on the basis of the reasonable amount and absence of concerns over pay level, but we should encourage the companies to increase the level of disclosure ahead of the meeting.

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

4

Approve Remuneration of Directors’ Committee and Approve their 2014 Budget

For

Abstain

In line with market practice in Chile no disclosure was made on proposals for remuneration. We have engaged with the company asking further details but IR failed to inform the amounts that will be taken to shareholder approval. ISS recommended investors to vote for on the basis of the reasonable amount and absence of concerns over pay level, but we should encourage the companies to increase the level of disclosure ahead of the meeting.

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

5

Present Board’s Report on Expenses; Present Directors’ Committee Report on Activities and Expenses

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

6

Appoint Auditors

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

7

Elect Two Auditors and their Respective Alternates; Approve their Remuneration

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

8

Designate Risk Assessment Companies

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

9

Approve Investment and Financing Policy

For

For

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

10

Present Dividend Policy and Distribution Procedures

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

11

Approve Special Auditors’ Report Regarding Related-Party Transactions

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

12

Present Report on Processing, Printing, and Mailing Information Required by Chilean Law

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

13

Other Business (Voting)

For

Against

Insufficient information.

3,780,000

Enersis S.A.

ENERSIS

P37186106

23-Apr-14

Annual

Confirmed

3,780,000

Management

14

Authorize Board to Ratify and Execute Approved Resolutions

For

For

36,930

Itau Unibanco Holding SA

ITUB4

P5968U113

23-Apr-14

Annual

Confirmed

36,930

Share Holder

1.1

Elect Luiz Alberto de Castro Falleiros as Fiscal Council Member Nominated by Preferred Shareholders

None

For

36,930

Itau Unibanco Holding SA

ITUB4

P5968U113

23-Apr-14

Annual

Confirmed

36,930

Share Holder

1.2

Elect Ernesto Rubens Gelbcke as Alternate Fiscal Council Member Nominated by Preferred Shareholders

None

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

2

Approve Allocation of Income and Dividends

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

3

Elect Directors

For

Abstain

No issues with the proposed board but they have bundled the election.

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

4

Approve Remuneration of Company’s Management

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

5

Elect Fiscal Council Members and Approve their Remuneration

For

Abstain

The company has bundled the election and remuneration approval into a single item.

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Annual

Confirmed

204,844

Management

6

Designate Newspapers to Publish Company Announcements

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Special

Confirmed

204,844

Management

1

Authorize Capitalization of Reserves for Bonus Issue

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Special

Confirmed

204,844

Management

2.1

Amend Stock Option Plan Re: Item 7

For

For

204,844

WEG S.A.

WEGE3

P9832B129

23-Apr-14

Special

Confirmed

204,844

Management

2.2

Amend Stock Option Plan Re: Item 16

For

Against

The proposed amendment grants flexibility to the board to accelerate unvested awards, on a case by case basis, in the case of a beneficiary exit from the company, as long as the individual is not involved in competing activities. The company didn’t provide a clear rationale to make this change and the increased flexibility granted to those managing the plan does not seem ideal.

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1a

Approve CEO’s and Auditor’s Report on Financial Statements and Statutory Reports

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1b

Approve Board’s Report on Accounting Criteria Policy and Disclosure Policy Law

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1c

Approve Report Re: Activities and Operations Undertaken by the Board

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1d

Approve Individual and Consolidated Financial Statements

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1e

Approve Audit Committee’s Report Regarding Company’s Subsidiaries

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

1f

Approve Report on Adherence to Fiscal Obligations

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

2a

Approve Increase in Legal Reserves

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

2b

Set Maximum Nominal Amount of Share Repurchase Reserve; Approve Policy Related to Acquisition of Own Shares

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3a

Approve Discharge of Board of Directors and CEO

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.1

Elect/Ratify Fernando Chico Pardo as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.2

Elect/Ratify Jose Antonio Perez Anton as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.3

Elect/Ratify Luis Chico Pardo as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.4

Elect/Ratify Aurelio Perez Alonso as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.5

Elect/Ratify Rasmus Christiansen as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.6

Elect/Ratify Francisco Garza Zambrano as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.7

Elect/Ratify Ricardo Guajardo Touche as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.8

Elect/Ratify Guillermo Ortiz Martinez as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3b.9

Elect/Ratify Roberto Servitje Sendra as Director

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3c.1

Elect/Ratify Ricardo Guajardo Touche as Chairman of Audit Committee

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3d.1

Elect/Ratify Fernando Chico Pardo, Jose Antonio Perez Anton and Roberto Servitje Sendra as Members of Nominations and Compensations Committee

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3e.1

Approve Remuneration of Directors in the Amount of MXN 50,000

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3e.2

Approve Remuneration of Operations Committee in the Amount of MXN 50,000

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3e.3

Approve Remuneration of Nominations and Compensations Committee in the Amount of MXN 50,000

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3e.4

Approve Remuneration of Audit Committee in the Amount of MXN 70,000

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

3e.5

Approve Remuneration of Acquisitions and Contracts Committee in the Amount of MXN 15,000

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

4a

Authorize Claudio R. Gongora Morales to Ratify and Execute Approved Resolutions

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

4b

Authorize Rafael Robles Miaja to Ratify and Execute Approved Resolutions

For

For

38,134

Grupo Aeroportuario del Sureste S.A.B. de C.V.

ASURB

P4950Y100

24-Apr-14

Annual

Confirmed

38,134

Management

4c

Authorize Ana Maria Poblanno Chanona to Ratify and Execute Approved Resolutions

For

For

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

2

Approve Allocation of Income, Dividends and Future Dividend Policy

For

For

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

3

Elect Directors and Approve Their Remuneration; Elect Directors’ Committee and Approve Their Budget

For

Abstain

The company has bundled election of directors an remuneration of board member and no disclosure of proposed names were provided. We have engaged with management asking for further information but no response so far. ISS recommended investors to vote Against but in absence of concerns with remuneration level and board composition have opted to ABSTAIN and engage with management expressing our views.

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

4

Present Report of Directors’ Committee Activities and Expenses

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

5

Receive Report Regarding Related-Party Transactions

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

6

Appoint Auditors and Designate Risk Assessment Companies

For

For

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

7

Designate Newspaper to Publish Meeting Announcements

For

For

592,000

Sonda S.A.

SONDA

P87262104

24-Apr-14

Annual

Confirmed

592,000

Management

8

Other Business (Voting)

For

Against

This is an open item of the agenda for matters that may be raised during the meeting. Since we are not able to assess the impact of discussions that may be held during the meeting best action is to go Against.

154,200

Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A

VLID3

P0282R102

24-Apr-14

Annual

Confirmed

154,200

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

154,200

Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A

VLID3

P0282R102

24-Apr-14

Annual

Confirmed

154,200

Management

2

Approve Allocation of Income and Dividends

For

For

154,200

Valid Solucoes e Serv. Seg. Meios Pag. Ident. S.A

VLID3

P0282R102

24-Apr-14

Annual

Confirmed

154,200

Management

3

Approve Remuneration of Company’s Management

For

For

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

1

Accept Financial Statements and Statutory Reports

For

For

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

2

Receive Report Regarding Related-Party Transactions

For

For

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

3

Approve Remuneration of Directors

For

Abstain

Amounts proposed were not discloser ahead of the meeting. Although the disclosure is not required in Chile we have encouraged our holdings to increase the level of information provided ahead of the meeting so worth abstaining.

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

4

Approve Remuneration and Budget of Directors’ Committee

For

Abstain

Amounts proposed were not discloser ahead of the meeting. Although the disclosure is not required in Chile we have encouraged our holdings to increase the level of information provided ahead of the meeting so worth abstaining.

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

5

Appoint Auditors and Designate Risk Assessment Companies

For

For

18,518

AntarChile S.A.

ANTARCHILE

P0362E138

25-Apr-14

Annual

Confirmed

18,518

Management

6

Other Business (Voting)

For

Against

Standard other business item. Open item of the agenda so we are not able to assess the impacts of discussions that may be raised during the meeting.

432,277

Arezzo Industria e Comercio SA

ARZZ3

25-Apr-14

Annual

Confirmed

432,277

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

432,277

Arezzo Industria e Comercio SA

ARZZ3

25-Apr-14

Annual

Confirmed

432,277

Management

2

Approve Allocation of Income and Dividends

For

For

432,277

Arezzo Industria e Comercio SA

ARZZ3

25-Apr-14

Annual

Confirmed

432,277

Management

3

Approve Capital Budget

For

For

432,277

Arezzo Industria e Comercio SA

ARZZ3

25-Apr-14

Annual

Confirmed

432,277

Management

4

Approve Remuneration of Company’s Management

For

For

432,277

Arezzo Industria e Comercio SA

ARZZ3

25-Apr-14

Special

Confirmed

432,277

Management

1

Amend Articles Re: Chair/CEO

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

1

Accept Financial Statements and Statutory Reports

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

2

Approve Allocation of Income

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a1

Elect Guillermo Ortiz Martinez as Board Chairman

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a2

Elect Graciela Gonzalez Moreno as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a3

Elect David Villarreal Montemayor as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a4

Elect Everardo Elizondo Almaguer as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a5

Elect Alfredo Elias Ayub as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a6

Elect Herminio Blanco Mendoza as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a7

Elect Adrian Sada Cueva as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a8

Elect Patricia Armendariz Guerra as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a9

Elect Armando Garza Sada as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a10

Elect Hector Reyes Retana y Dahl as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a11

Elect Juan Carlos Braniff Hierro as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a12

Elect Miguel Aleman Magnani as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a13

Elect Alejandro Burillo Azcarraga as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a14

Elect Juan Antonio Gonzalez Moreno as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a15

Elect Alejandro Valenzuela del Rio as Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a16

Elect Jesus O. Garza Martinez as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a17

Elect Alejandro Hank Gonzalez as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a18

Elect Jose Maria Garza Treviño as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a19

Elect Alberto Halabe Hamui as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a20

Elect Isaac Becker Kabacnik as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a21

Elect Manuel Aznar Nicolin as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a22

Elect Eduardo Livas Cantu as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a23

Elect Roberto Kelleher Vales as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a24

Elect Ramon A. Leal Chapa as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a25

Elect Julio Cesar Mendez Rubio as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a26

Elect Guillermo Mascareñas Milmo as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a27

Elect Lorenzo Lazo Margain as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a28

Elect Alejandro Orvañanos Alatorre as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a29

Elect Juan Antonio Gonzalez Marcos as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.a30

Elect Jose Marcos Ramirez Miguel as Alternate Director

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.b

Approve Directors Liability and Indemnification

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

3.c

Elect Hector Avila Flores as Board Secretary; Elect Jose Morales Martinez as Undersecretary Who Will Not Be Part of Board

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

4

Approve Remuneration of Directors

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

5.a

Elect Hector Reyes Retana y Dahl as Chairman of Audit and Corporate Practices Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

5.b

Elect Herminio Blanco Mendoza as Member of Audit and Corporate Practices Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

5.c

Elect Manuel Aznar Nicolin as Member of Audit and Corporate Practices Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

5.d

Elect Patricia Armendariz Guerra as Member of Audit and Corporate Practices Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

5.e

Elect Julio Cesar Mendez Rubio as Member of Audit and Corporate Practices Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.a

Elect Juan Carlos Braniff Hierro as Chairman of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.b

Elect Alfredo Elias Ayub as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.c

Elect Hector Reyes Retana y Dahl as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.d

Elect Everardo Elizondo Almaguer as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.e

Elect Eduardo Livas Cantu as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.f

Elect Manuel Aznar Nicolin as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.g

Elect Alejandro Valenzuela del Rio as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.h

Elect Manuel Romo Villafuerte as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.i

Elect Fernando Solis Soberon as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.j

Elect Gerardo Zamora Nañez as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.k

Elect Jose Marcos Ramirez Miguel as Member of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

6.l

Elect David Aaron Margolin Schabes as Secretary of Risk Policies Committee

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

7

Approve Report on Share Repurchase; Set Aggregate Nominal Amount of Share Repurchase Program

For

For

1,432,097

Grupo Financiero Banorte S.A.B. de C.V.

GFNORTEO

P49501201

25-Apr-14

Annual

Confirmed

1,432,097

Management

8

Authorize Board to Ratify and Execute Approved Resolutions

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

1

Accept Annual Report, Financial Statements, Internal Statutory Auditors’ Report and External Auditors’ Reports, and Statutory Reports

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

2

Appoint Auditors and Internal Statutory Auditors

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

3

Approve Report Regarding Related-Party Transactions

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

4

Approve Investment and Financing Policy

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

5

Approve Allocation of Income and Dividends, and Dividend Policy

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

6

Receive Report on Board’s Expenses

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

7

Approve Remuneration of Directors

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

8

Receive Issues Related to Directors’ and Audit Committees and Health, Safety and Environmental Committee

For

For

18,800

Sociedad Quimica y Minera de Chile S.A. SQM

SQM-B

P8716X108

25-Apr-14

Annual

Confirmed

18,800

Management

9

Other Business (Voting)

For

Against

We vote against since topics we are unaware of can be proposed to be voted during the meeting.

391,800

Bradespar S.A.

BRAP4

P1808W104

28-Apr-14

Annual

Confirmed

391,800

Share Holder

1

Elect Director Nominated by Preferred Shareholders

None

For

391,800

Bradespar S.A.

BRAP4

P1808W104

28-Apr-14

Annual

Confirmed

391,800

Share Holder

2

Elect Fiscal Council Member(s) Nominated by Preferred Shareholders

None

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Annual

Confirmed

1,168,830

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Annual

Confirmed

1,168,830

Management

2

Approve Allocation of Income and Dividends

For

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Annual

Confirmed

1,168,830

Management

3

Elect Fiscal Council Members

For

Abstain

No issues with names being proposed, but the company has bundled the elections.

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Annual

Confirmed

1,168,830

Management

4

Ratify Remuneration Paid for Fiscal Year 2013 and Approve Remuneration of Company’s Management

For

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Special

Confirmed

1,168,830

Management

1

Authorize Capitalization of Fiscal Benefits and Issue New Shares

For

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Special

Confirmed

1,168,830

Management

2

Authorize Capitalization of Fiscal Benefits without Issuing New Shares

For

For

1,168,830

Companhia de Bebidas Das Americas - AMBEV

ABEV3

P0273S127

28-Apr-14

Special

Confirmed

1,168,830

Management

3

Amend Article 5 to Reflect Changes in Capital

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

2

Approve Dividends and Dividends Policy

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

3

Elect Directors

For

Against

The company failed to disclose the names of the candidates that will be proposed. In absence of disclosure of such information we are not able to make a well informed decision so support is not warranted. Although the disclosure is not a requirement in Chile we have seen other companies disclosing the names so Concha Y Toro should follow the best practices. We have engaged with the company to express our positioning.

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

4

Appoint Auditors and Designate Risk Assessment Companies

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

5

Approve Remuneration of Directors

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

6

Approve Remuneration and Budget of Directors’ Committee

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

7

Designate Newspaper to Publish Meeting Announcements

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

8

Receive Report Regarding Related-Party Transactions

For

For

540,000

Vina Concha y Toro S.A.

CONCHATORO

P9796J100

28-Apr-14

Annual

Confirmed

540,000

Management

9

Other Business (Voting)

For

Against

This is an open item of the agenda for matters that may be raised during the meeting. Since we are not able to assess the impact of discussions that may be held during the meeting best action is to vote against.

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

1

Approve Financial Statements and Statutory Reports

For

For

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

2

Elect Directors

For

Abstain

Although names were disclosed ahead of the meeting resolution is bundled.

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

3

Approve Remuneration of Directors

For

Abstain

No major concern with remuneration level but amounts proposed were not disclosed ahead of the meeting so we are unable to assess the impact.

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

4

Approve Remuneration and Budget of Directors’ Committee

For

Abstain

No major concern with remuneration level but amounts proposed were not disclosed ahead of the meeting so we are unable to assess the impact.

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

5

Appoint Auditors, Designate Risk-Assessment Companies; Present Special Auditors’ Report Regarding Related-Party

For

For

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

6

Approve Report on Processing, Printing, and Mailing Information To Shareholders Required by Chilean Law

For

For

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

7

Designate Newspaper to Publish Meeting Announcements

For

For

23,143

LATAM Airlines Group S.A.

LAN

P61894104

29-Apr-14

Annual

Confirmed

23,143

Management

8

Other Business (Voting)

For

Against

We are unable to assess the impact of discussions that may be raised during the meeting so best course of action is to go against.

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Annual

Confirmed

274,050

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Annual

Confirmed

274,050

Management

2

Approve Allocation of Income and Dividends

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Annual

Confirmed

274,050

Management

3

Approve Remuneration of Company’s Management

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Annual

Confirmed

274,050

Management

4

Designate Newspapers to Publish Company Announcements

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

1.1

Appoint Independent Firm to Appraise Absorption of Localiza Cuiaba Aluguel de Carros Ltda.

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

1.2

Approve Independent Firm’s Appraisal

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

1.3

Approve Acquisition Agreement between the Company and Localiza Cuiaba Aluguel de Carros Ltda

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

1.4

Authorize Board to Ratify and Execute Approved Resolutions

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

2.1

Approve Agreement to Absorb Localiza Car Rental S.A.

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

2.2

Appoint Independent Firm to Appraise Proposed Transaction

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

2.3

Approve Independent Firm’s Appraisal

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

2.4

Approve Absorption of Localiza Car Rental S.A.

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

2.5

Authorize Board to Ratify and Execute Approved Resolutions

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

3.1

Approve Agreement to Absorb Localiza JF Aluguel de Carros Ltda.

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

3.2

Appoint Independent Firm to Appraise Proposed Transaction

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

3.3

Approve Independent Firm’s Appraisal

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

3.4

Approve Absorption of Localiza JF Aluguel de Carros Ltda.

For

For

274,050

Localiza Rent A Car S.A.

RENT3

P6330Z111

29-Apr-14

Special

Confirmed

274,050

Management

3.5

Authorize Board to Ratify and Execute Approved Resolutions

For

For

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Annual

Confirmed

393,334

Management

1

Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2013

For

For

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Annual

Confirmed

393,334

Management

2

Approve Allocation of Income and Dividends

For

For

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Annual

Confirmed

393,334

Management

3

Fix Number of Directors

For

For

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Annual

Confirmed

393,334

Management

4

Elect Directors

For

Abstain

The company has bundled the election of more than one candidate into a single item. The level of board independence is also on the low side.

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Annual

Confirmed

393,334

Management

5

Approve Remuneration of Company’s Management

For

For

393,334

Multiplan Empreendimentos Imobiliarios S.A.

MULT3

P69913104

29-Apr-14

Special

Confirmed

393,334

Management

1

Amend Article 16 Re: Chairman/CEO

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

1

Approve Financial Statements and Statutory Reports; Approve CEO and Board’s Opinion Reports; Approve Audit and Corporate Practices Committee

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

2

Accept Report on Activities Undertaken by Board of Directors

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

3a

Approve Allocation of Income

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

3b

Set Aggregate Nominal Amount of Share Repurchase Reserve

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

4

Approve Dividends of MXN 0.39 Per Share

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

5

Authorize Establishment of Short and Long Term Certificate Program with Dual Revolving Character in the Amount of Up to MXN 15 Billion

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

6

Elect or Ratify Directors, Board Committees Members and Approve their Remuneration

For

Against

Neither the names of the nominees nor their proposed remuneration have been disclosed and the bundled nature of the resolution forces shareholders to submit a once and for all vote for each director and their remuneration. We abstained on this item last year and contacted the company to request they consider unbundling this item. No improvement warrants a vote against, this is in line with ISS. We have emailed the company to explain our rationale.

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

7

Amend Article 7 of Company Bylaws in Order to Comply with Security Market Law; Authorize Board to Obtain Certification of Company Bylaws

For

Against

Changes in articles of association have been proposed but no detail on the text or clear rationale. IR outlined the jist of the Item via email, stating only that it refers to a change in Soriana corporate law to prevent third parties aggressively increasing ownership without the knowledge and approval of the board. More prudent to vote against due to the lack of detail on this matter. This is in line with ISS.

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

8

Approve Granting of Powers

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

9

Appoint Legal Representatives

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

1

Approve Financial Statements and Statutory Reports; Approve CEO and Board’s Opinion Reports; Approve Audit and Corporate Practices Committee

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

2

Accept Report on Activities Undertaken by Board of Directors

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

3a

Approve Allocation of Income

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

3b

Set Aggregate Nominal Amount of Share Repurchase Reserve

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

4

Approve Dividends of MXN 0.39 Per Share

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

5

Authorize Establishment of Short and Long Term Certificate Program with Dual Revolving Character in the Amount of Up to MXN 15 Billion

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

6

Elect or Ratify Directors, Board Committees Members and Approve their Remuneration

For

Against

Neither the names of the nominees nor their proposed remuneration have been disclosed and the bundled nature of the resolution forces shareholders to submit a once and for all vote for each director and their remuneration. We abstained on this item last year and contacted the company to request they consider unbundling this item. No improvement warrants a vote against, this is in line with ISS. We have emailed the company to explain our rationale.

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

7

Amend Article 7 of Company Bylaws in Order to Comply with Security Market Law; Authorize Board to Obtain Certification of Company Bylaws

For

Against

Changes in articles of association have been proposed but no detail on the text or clear rationale. IR outlined the jist of the Item via email, stating only that it refers to a change in Soriana corporate law to prevent third parties aggressively increasing ownership without the knowledge and approval of the board. More prudent to vote against due to the lack of detail on this matter. This is in line with ISS.

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

8

Approve Granting of Powers

For

For

1,149,000

Organizacion Soriana S.A.B. de C.V.

SORIANAB

P8728U167

29-Apr-14

Annual

Confirmed

1,149,000

Management

9

Appoint Legal Representatives

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

1

Approve Financial Statements and Statutory Reports

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

2

Approve Allocation of Income

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

3

Approve Dividend Policy

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

4

Elect Directors

For

Abstain

The company provided full disclosure of the candidates but the resolution is still bundled.

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

5

Approve Remuneration of Directors

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

6

Appoint Auditors and Designate Risk Assessment Companies

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

7

Designate Newspaper to Publish Meeting Announcements

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

8

Approve Report Regarding Related-Party Transactions

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

9

Approve Remuneration and Budget of Directors’ Committee; Receive Directors Committee’s Report

For

For

77,000

S.A.C.I. Falabella

FALABELLA

P3880F108

29-Apr-14

Annual

Confirmed

77,000

Management

10

Other Business (Voting)

For

Against

Open item of the agenda so we are unable to assess the impacts that will be raised during the meeting.

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

1

Accept Financial Statements and Statutory Reports

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

2

Approve that No Sum be Credited to Legal Reserve

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

3

Approve that No Sum be Set Aside to Contingency Reserve

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

4

Approve Distribution $27,034,720.00

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

5

Ratify KPMG as Auditors

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

6

Authorize Board to Fix Remuneration of the Auditors

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

7

Fix Number of Directors at Seven

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

8.1

Appoint Jose Francisco Gouvea Vieira as Chairman until 2015 AGM

For

For

289,400

Wilson Sons Ltd.

BMG968101094

G96810117

30-Apr-14

Annual

Confirmed

289,400

Management

8.2

Appoint William Henry Salomon as Deputy Chairman until 2015 AGM

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

1

Amend Article 9

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

2

Amend Article 16

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

3

Amend Articles 14

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

4.1

Authorize Capitalization of Tax Incentive Reserves

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

4.2

Authorize Capitalization of Retained Income

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

4.3

Authorize Capitalization of Legal Reserves

For

For

397,000

Cia. Hering

HGTX3

P50753105

7-May-14

Special

Confirmed

397,000

Management

5

Consolidate Bylaws

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

1

Receive and Approve Board’s and Auditor’s Reports

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

2

Approve Consolidated Financial Statements

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

3

Approve Financial Statements

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

4

Approve Allocation of Income and Dividends

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

5

Approve Discharge of Directors

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

6

Elect Directors

For

Abstain

The company has bundled the election of all candidates into a single item. ISS recommends investors to vote against as board only 30 percent independent and chairman and ceo role are not separated. Since we have no particular concerns with the board abstaining seems more sensible at this point and continue to engage with the company on the matter.

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

7

Approve Remuneration of Directors

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

8

Approve Auditors and Authorize Board to Fix Their Remuneration

For

For

147,000

TENARIS SA

TEN

L90272102

7-May-14

Annual

Confirmed

147,000

Management

9

Allow Electronic Distribution of Company Documents to Shareholders

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

13-May-14

Special

Confirmed

757,563

Management

1

Approve Restricted Stock Plan

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

13-May-14

Special

Confirmed

757,563

Management

2.1

Amend Article 5 to Reflect Changes in Capital

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

13-May-14

Special

Confirmed

757,563

Management

2.2

Amend Article 16

For

For

757,563

BM&FBOVESPA S.A.

BVMF3

P73232103

13-May-14

Special

Confirmed

757,563

Management

2.3

Amend Articles

For

For

680,563

BM&FBOVESPA S.A.

BVMF3

P73232103

26-May-14

Special

Confirmed

680,563

Management

1

Amend Articles to Reflect Changes in Capital

For

For

680,563

BM&FBOVESPA S.A.

BVMF3

P73232103

26-May-14

Special

Confirmed

680,563

Management

2

Amend Article 16

For

For

680,563

BM&FBOVESPA S.A.

BVMF3

P73232103

26-May-14

Special

Confirmed

680,563

Management

3

Amend Articles

For

For

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: Aberdeen Latin America Equity Fund, Inc.
By (Signature and Title):	/s/Christian Pittard
	Christian Pittard
	President
Date: August 26, 2014