Cutler Trust N-PX Annual report of proxy voting record

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number 811-07242

The Cutler Trust

(Exact name of registrant as specified in charter)

525 Bigham Knoll                              Jacksonville, Oregon	97530
(Address of principal executive offices)	(Zip code)

Erich M. Patten

Cutler Investment Counsel, LLC            525 Bigham Knoll           Jacksonville, Oregon 97530

(Name and address of agent for service)

Registrant's telephone number, including area code: (541) 770-9000

Date of fiscal year end:	June 30
Date of reporting period:	July 1, 2015 – June 30, 2016

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1. PROXY VOTING RECORD.

Disclose the following information for each matter relating to a portfolio security considered at any shareholder meeting held during the period covered by the report and with respect to which the registrant was entitled to vote:

(a) The name of the issuer of the portfolio security;

(b) The exchange ticker symbol of the portfolio security;

(c) The Council on Uniform Securities Identification Procedures ("CUSIP") number for the portfolio security;

(d) The shareholder meeting date;

(e) A brief identification of the matter voted on;

(f) Whether the matter was proposed by the issuer or by a security holder;

(g) Whether the registrant cast its vote on the matter;

(h) How the registrant cast its vote (e.g., for or against proposal, or abstain; for or withhold regarding election of directors); and

(i) Whether the registrant cast its vote for or against management.

SIGNATURES

[See General Instruction F]

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)  The Cutler Trust

By (Signature and Title)*		/s/ Erich M. Patten
		Erich M. Patten, President
Date	July 26, 2016

* Print the name and title of each signing officer under his or her signature.

EXHIBIT A

CUTLER EQUITY FUND 

Proxy Voting Record 

July 1, 2015 - June 30, 2016 

Name	Ticker	CUSIP	Annual Meeting Date	Item	Vote Yes/No	Type Issuer/ Shareholder	Vote For/ Against/ Abstain	With/Against Management
Procter & Gamble	PG	742718109	10/13/2015	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: PROXY ACCESS	Yes	Shareholder	Against	With
Sysco	SYY	871829107	11/18/2015	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPROVE EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
Microsoft Corp.	MSFT	594918104	12/2/2015	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
Becton, Dickinson and Company	BDX	075887109	1/26/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				AMENDMENTS TO 2004 EMPLOYEE & DIRECTOR EQUITY-BASED COMPENSATION PLAN	Yes	Issuer	For	With
Monsanto Company	MON	61166W101	1/29/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVAL OF CODE SECTION 162(M) ANNUAL INCENTIVE PLAN	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL ON GLYPHOSATE REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON LOBBYING REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
Deere & Company	DE	244199105	2/24/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL ON PROXY ACCESS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON GREENHOUSE GAS EMISSIONS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON POLITICAL SPENDING CONGRUENCY ANALYSIS	Yes	Shareholder	Against	With
The Walt Disney Company	DIS	254687106	3/3/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				TO APPROVE AMENDMENT TO RESTATED CERTIFICATE OF INCORPORATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL RELATING TO SIMPLE MAJORITY VOTE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL RELATING TO LOBBYING DISCLOSURE	Yes	Shareholder	Against	With
Qualcomm Incorporated	QCOM	747525103	3/8/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO APPROVE 2016 LONG-TERM INCENTIVE PLAN	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL RELATING TO PROXY ACCESS BYLAW	Yes	Shareholder	Against	With
National Fuel Gas Company	NFG	636180101	3/10/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				AMENDMENT AND REAPPROVAL OF THE 2009 NON-EMPLOYEE DIRECTOR EQUITY COMPENSATION PLAN	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL RELATING TO METHANE EMISSIONS	Yes	Shareholder	Against	With
Emerson Electric Co.	EMR	291087203	2/2/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL ON SUSTAINABILITY REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON POLITICAL CONT. REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON LOBBYING REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON GREENHOUSE GAS EMISSIONS	Yes	Shareholder	Against	With
Schlumberger Limited	SLB	806857108	4/6/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPROVE EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVE FINANCIAL STATEMENTS AND DIVIDENDS	Yes	Issuer	For	With
				APPROVE ACCOUNTING FIRM	Yes	Issuer	For	With
				APPROVE AMENDMENTS TO COMPANY'S ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				APPROVE A RESOLUTION TO FIX NUMBER OF DIRECTORS	Yes	Issuer	For	With
				APPROVE AMENDED AND RESTATED FRENCH SUB-PLAN	Yes	Issuer	For	With
M&T Bank Corporation	MTB	55261F104	4/19/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPROVE EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
United Technologies Corp.	UTX	913017109	4/25/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPOINTMENT OF AUDITOR	Yes	Issuer	For	With
				AMENDMENT TO RESTATED CERTIFICATE OF INCORPORATION TO ELIMINATE CUMULATIVE VOTING FOR DIRECTORS	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
IBM	IBM	459200	4/26/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL FOR DISCLOSURE OF LOBBYING POLICIES AND PRACTICES	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON RIGHT TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL TO HAVE AN INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
E. I. du Pont de Nemours & Company	DD	263534	4/27/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				TO APPROVE AN AMENDMENT TO, AND PERFORMANCE GOALS UNDER, THE COMPANY EQUITY AND INCENTIVE PLAN	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL ON EMPLOYEE BOARD ADVISORY POSITION	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON SUPPLY CHAIN DEFORESTATION IMPACT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON ACCIDENT RISK REDUCTION REPORT	Yes	Shareholder	Against	With
Johnson & Johnson	JNJ	478160104	4/28/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL - POLICY FOR SHARE REPURCHASE PREFERENCE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL - INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL - REPORT ON LOBBYING DISCLOSURE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL - TAKE-BACK PROGRAMS FOR UNUSED MEDICINES	Yes	Shareholder	Against	With
AT&T Inc.	T	00206R102	4/29/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY INDEPENDENT AUDITORS	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVAL OF 2016 INCENTIVE PLAN	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL:POLITICAL SPENDING REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: LOBBYING REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
American Express	AXP	025816109	5/2/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVAL OF 2016 INCENTIVE COMPENSATION PLAN	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL RELATING TO ANNUAL DISCLOSURE OF EEO-1 DATA	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL RELATING TO REPORT ON PRIVACY, DATA SECURITY, AND GOVERNMENT REQUESTS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL RELATING TO ACTION BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL RELATING TO LOBBYING DISCLOSURE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL RELATING TO INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
Pepsico, Inc.	PEP	713448108	5/4/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVAL OF RENEWAL AND AMENDMENT OF LONG-TERM INCENTIVE PLAN	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: ESTABLISH BOARD COMMITTEE ON SUSTAINABILITY	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON MINIMIZING IMPACTS OF NEONICS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: POLICY REGARDING HOLY LAND PRINCIPLES	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: ADOPT QUANTITATIVE RENEWABLE ENERGY TARGETS	Yes	Shareholder	Against	With
United Parcel Service, Inc.	UPS	911312106	5/5/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY INDEPENDENT AUDITORS	Yes	Issuer	For	With
				SHAREOWNER PROPOSAL TO PREPARE AN ANNUAL REPORT ON LOBBYING ACTIVITIES	Yes	Shareholder	Against	With
				SHAREOWNER PROPOSAL TO REDUCE VOTING POWER OF CLASS A STOCK	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: ADOPT HOLY LAND PRINCIPLES	Yes	Shareholder	Against	With
Verizon Communications, Inc.	VZ	92343V104	5/5/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: RENEWABLE ENERGY TARGETS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: INDIRECT POLITICAL SPENDING REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: LOBBYING ACTIVITIES REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: INDEPENDENT CHAIR POLICY	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: SEVERANCE APPROVAL POLICY	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: STOCK RETENTION POLICY	Yes	Shareholder	Against	With
Dominion Resources, Inc.	D	25746U109	5/11/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: REPORT ON LOBBYING	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON POTENTIAL IMPACT OF DENIAL OF A CERTIFICATE FOR NORTH ANNA 3	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: RIGHT TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REQUIRED NOMINATION OF DIRECTOR WITH ENVIRONMENTAL EXPERTISE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON THE FINANCIAL RISKS TO DOMINION POSED BY CLIMATE CHANGE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON IMPACT OF CLIMATE CHANGE DRIVEN TECHNOLOGY CHANGES	Yes	Shareholder	Against	With
Home Depot, Inc.	HD	437076102	5/19/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL REGARDING PREPARATION OF AN EMPLOYMENT DIVERSITY REPORT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL TO REDUCE THRESHOLD TO CALL SPECIAL SHAREHOLDER MEETINGS TO 10% OF OUTSTANDING SHARES	Yes	Shareholder	Against	With
Intel Corporation	INTC	458140100	5/19/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL ON IMPLEMENTING PRINCIPLES ENTITLED "HOLY LAND PRINCIPLES"	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON WHETHER TO ALLOW SHAREHOLDERS TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
Merck & Co., Inc.	MRK	58933Y105	5/24/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL TO ADOPT A SHAREHOLDERS' RIGHT TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING AN INDEPENDENT BOARD CHAIRMAN	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING A REPORT ON DISPOSAL OF UNUSED OR EXPIRED DRUGS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL ON WHETHER TO ADOPT AN ALTERNATIVE VOTE COUNTING STANDARD	Yes	Shareholder	Against	With
Blackrock, Inc.	BLK	09247X101	5/25/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				APPROVAL OF A MANAGEMENT PROPOSAL TO AMEND BYLAWS TO IMPLEMENT "PROXY ACCESS"	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL REGARDING PROXY VOTING PRACTICES RELATING TO EXECUTIVE COMPENSATION	Yes	Shareholder	Against	With
Chevron Corporation	CVX	166764100	5/25/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				AMENDMENT TO CHEVRON CORPORATION NON-EMPLOYEE DIRECTORS' EQUITY COMPENSATION AND DEFERRAL PLAN	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: REPORT ON LOBBYING	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: ADOPT TARGETS TO REDUCE GHG EMISSIONS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON CLIMATE CHANGE IMPACT ASSESSMENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON RESERVE REPLACEMENTS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: ADOPT DIVIDEND POLICY	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON SHALE ENERGY OPERATIONS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: RECOMMEND INDEPENDENT DIRECTOR WITH ENVIRONMENTAL EXPERTISE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: SET SPECIAL MEETINGS THRESHOLD AT 10%	Yes	Shareholder	Against	With
Exxon Mobil Corporation	XOM	30231G102	5/25/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: INDEPENDENT CHAIRMAN	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: CLIMATE EXPERT ON BOARD	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: HIRE AN INVESTMENT BANK	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: PROXY ACCESS BYLAW	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON COMPENSATION FOR WOMEN	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON LOBBYING	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: INCREASE CAPITAL DISTRIBUTIONS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: POLICY TO LIMIT GLOBAL WARMING	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON IMPACTS OF CLIMATE CHANGE POLICIES	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT RESERVE REPLACEMENTS IN BTUS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REPORT ON HYDRAULIC FRACTURING	Yes	Shareholder	Against	With
McDonald's Corporation	MCD	580135101	5/26/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL REQUESTING THAT MATTERS PRESENTED BY SHAREHOLDERS BE DECIDED BY SIMPLE MAJORITY VOTE	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING ABILITY OF SHAREHOLDERS TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING THAT BOARD MAKE ALL LAWFUL EFFORTS TO IMPLEMENT AND/OR INCREASE ACTIVITY ON THE HOLY LAND PRINCIPLES	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING THE BOARD ADOPT A POLICY REGARDING USE OF ANTIBIOTICS BY ITS MEAT SUPPLIERS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING AN ANNUAL CONGRUENCY ANALYSIS BETWEEN CORPORATE VALUES AND POLITICAL CONTRIBUTIONS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL REQUESTING AN ANNUAL CONGRUENCY ANALYSIS OF COMPANY VALUES AND POLICY ACTIVITIES	Yes	Shareholder	Against	With
Wal-Mart Stores, Inc.	WMT	931142103	6/3/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				APPROVAL OF 2016 ASSOCIATE STOCK PURCHASE PLAN	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL: REQUEST TO ADOPT AN INDEPENDENT CHAIR POLICY	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REQUEST FOR ANNUAL REPORT REGARDING INCENTIVE COMPENSATION PLANS	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL: REQUEST FOR REPORT REGARDING CRITERIA FOR OPERATING IN HIGH-RISK REGIONS	Yes	Shareholder	Against	With
Caterpillar, Inc.	CAT	149123101	6/8/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL - PROVIDE A REPORT OF LOBBYING ACTIVITIES	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL - ALLOW SHAREHOLDERS TO ACT BY WRITTEN CONSENT	Yes	Shareholder	Against	With
				SHAREHOLDER PROPOSAL - REQUIRE CHAIRMAN OF THE BOARD TO BE INDEPENDENT WHENEVER POSSIBLE	Yes	Shareholder	Against	With
Target Corporation	TGT	87612E106	6/8/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				ADVISORY VOTE ON EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				SHAREHOLDER PROPOSAL TO REPORT ON CRITERIA FOR SELECTING COUNTRIES FOR OPERATIONS	Yes	Shareholder	Against	With
Texas Instruments	TXN	882508104	4/21/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPROVE EXECUTIVE COMPENSATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				APPROVE AMENDMENTS TO THEIR 2009 LONG-TERM INCENTIVE PLAN	Yes	Issuer	For	With

CUTLER EMERGING MARKETS FUND

Proxy Voting Record

July 1, 2015 - June 30, 2016

Name	Ticker	CUSIP	Meeting Date	Item	Vote Yes/No	Type Issuer/ Shareholder	Vote For/Against/ Abstain	With/Against Management
Huaneng Power International	HNP	443304100	1/12/2016	RESOLUTION REGARDING 2016 CONTINUING CONNECTED TRANSACTIONS BETWEEN THE COMPANY AND HUANENG GROUP	Yes	Issuer	Abstain
				RESOLUTION REGARDING THE CONNECTED TRANSACTION ON FINANCE LEASING AND LEASEBACK BY HUANENG	Yes	Issuer	Abstain
				RESOLUTION REGARDING THE CONNECTED TRANSACTION ON FINANCE LEASING AND LEASEBACK BY THE CONTROLLED SUBSIDIARIES OF THE COMPANY	Yes	Issuer	Abstain
Posco	PKX	Y70750115	3/11/2016	APPROVAL OF FINANCIAL STATEMENTS	Yes	Issuer	For	With
				PARTIAL AMENDMENTS TO ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				ELECTION OF OUTSIDE DIRECTOR	Yes	Issuer	For	With
				ELECTION OF INSIDE DIRECTOR	Yes	Issuer	For	With
				APPROVAL OF LIMIT OF TOTAL RENUMERATION FOR DIRECTORS	Yes	Issuer	For	With
KT Corporation	KT	48268K101	3/25/2016	APPROVAL OF FINANCIAL STATEMENTS FOR 34TH FISCAL YEAR	No
				AMENDMENT OF ARTICLES OF INCORPORATION	No
				ELECTION OF DIRECTOR	No
				ELECTION OF DIRECTOR	No
				ELECTION OF DIRECTOR	No
				ELECTION OF DIRECTOR	No
				ELECTION OF DIRECTOR	No
				ELECTION OF DIRECTOR	No
				APPROVAL OF LIMIT ON REMUNERATION OF DIRECTORS	No
				AMENDMENT OF EXECUTIVES' SEVERANCE PAY REGULATIONS	No
Dr. Reddy's Laboratories Limited	RDY	256135203	4/2/2016	TO CONSIDER AND APPROVE BUYBACK OF EQUITY SHARES	Yes	Issuer	For	With
Infosys Limited	INFY	456788108	4/3/2016	APPROVAL OF 2015 STOCK INCENTIVE COMPENSATION PLAN AND GRANT OF STOCK INCENTIVES TO THE ELIGIBLE EMPLOYEES OF THE COMPANY UNDER THE PLAN	Yes	Issuer	For	N/A
				APPROVAL OF 2015 STOCK INCENTIVE COMPENSATION PLAN AND GRANT OF STOCK INCENTIVES TO THE ELIGIBLE EMPLOYEES OF THE COMPANY'S SUBSIDIARIES UNDER THE PLAN	Yes	Issuer	For	N/A
				ELECTION OF DIRECTOR	Yes	Issuer	For	N/A
				ELECTION OF DIRECTOR	Yes	Issuer	For	N/A
				ELECTION OF DIRECTOR	Yes	Issuer	For	N/A
Malayan Banking BHD	MLYBY	56108H105	4/7/2016	TO RECEIVE AUDITED FINANCIAL STATEMENTS	Yes	Issuer	For	With
				TO APPROVE PAYMENT OF A FINAL SINGLE-TIER DIVIDEND	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				APPROVE ACCOUNTING FIRM	Yes	Issuer	For	With
				AUTHORITY TO DIRECTORS TO ISSUE SHARES	Yes	Issuer	For	With
				ALLOTMENT AND ISSUANCE OF NEW ORDINARY SHARES	Yes	Issuer	For	With
Embraer S.A.	ERJ	29082A107	4/13/2016	ANALYSIS OF MANAGEMENT ACCOUNTS, WITH EXAMINATION, DISCUSSION, AND VOTE ON FINANCIAL STATEMENTS RELATED TO YEAR ENDED 12/31/15	No
				ALLOCATION OF NET PROFITS FOR FISCAL YEAR ENDED 12/31/15 AND DISTRIBUTION OF DIVIDENDS	No
				ELECTION OF MEMBERS OF FISCAL COUNCIL	No
				ESTABLISHING OVERALL COMPENSATION OF MANAGEMENT COMPANY AND MEMBERS OF COMMITTEES OF BOARD OF DIRECTORS	No
				ESTABLISHING REMUNERATION OF MEMBERS OF FISCAL COUNCIL	No
				AMENDMENT OF ARTICLES OF COMPANY'S BY-LAWS	No
				CANCELLATION OF A PROGRAM FOR GRANT OF EMBRAER S.A. STOCK OPTIONS TO MEMBERS OF BOARD OF DIRECTORS	No
CIMB Group Holdings BHD	CIMB (KLSE)		4/18/2016	ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				TO APPROVE PAYMENT OF DIRECTORS' FEES FOR THE FINANCIAL YEAR ENDED 12/31/15	Yes	Issuer	For	With
				TO APPROVE PAYMENT OF DIRECTORS' REMUNERATION FROM 1/1/16 UNTIL NEXT ANNUAL GENERAL MEETING OF THE COMPANY	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				PROPOSED GRATUITY PAYMENT	Yes	Issuer	For	With
				PROPOSED RENEWAL OF THE AUTHORITY FOR DIRECTORS TO ISSUE SHARES	Yes	Issuer	For	With
				PROPOSED RENEWAL OF THE AUTHORITY FOR DIRECTORS TO ALLOT AND ISSUE NEW ORDINARY SHARES	Yes	Issuer	For	With
				PROPOSED RENEWAL OF THE AUTHORITY TO PURCHASE OWN SHARES	Yes	Issuer	For	With
P.T. Telekomunikasi Indonesia, TBK	TLK	715684106	4/22/2016	APPROVAL OF COMPANY'S ANNUAL REPORT FOR 2015 FINANCIAL YEAR, INCLUDING BOARD OF COMMISSIONERS' SUPERVISORY REPORT	No
				RATIFICATION OF COMPANY'S FINANCIAL STATEMENTS AND PARTNERSHIP AND COMMUNITY DEVELOPMENT PROGRAM	No
				IMPLEMENTATION OF MINISTER OF STATE-OWNED ENTERPRISE	No
				APPROPRIATION OF COMPANY'S NET INCOME FOR 2015	No
				DETERMINATION OF REMUNERATION FOR MEMBERS OF BOARD OF DIRECTORS AND BOARD OF COMMISSIONER FOR 2016	No
				RATIFY ACCOUNTING FIRM	No
				DELEGATION OF AUTHORITY TO BOARD OF COMMISSIONERS FOR USE/DIVERSION COMPANY'S TREASURY STOCK FROM SHARE BUYBACK IV	No
				CHANGES IN COMPOSITION OF BOARD OF COMPANY	No
Vina De Concha Y Toro Sa Conchatoro	VCO	927191106	4/25/2016	APPROVAL OF FINANCIAL STATEMENTS AND REPORTS FROM OUTSIDE AUDITORS FOR FISCAL YEAR ENDED 12/31/15	Yes	Issuer	For	With
				DISTRIBUTION OF PROFIT AND DIVIDEND POLICY	Yes	Issuer	For	With
				TO DESIGNATE OUTSIDE AUDITORS AND RISK RATING AGENCIES FOR 2016 FISCAL YEAR	Yes	Issuer	For	With
				TO ESTABLISH COMPENSATION OF BOARD OF DIRECTORS FOR 2016 FISCAL YEAR	Yes	Issuer	For	With
				TO ESTABLISH COMPENSATION OF MEMBERS OF BOARD OF DIRECTORS WHO ARE MEMBERS OF COMMITTEE THAT IS REFERRED TO IN ARTICLE 50	Yes	Issuer	For	With
				TO DETERMINE PERIODICAL IN WHICH CALL NOTICE FOR NEXT GENERAL MEETING OF SHAREHOLDERS WILL BE PUBLISHED	Yes	Issuer	For	With
				TO GIVE AN ACCOUNTING OF TRANSACTIONS	Yes	Issuer	For	With
				OTHER MATTERS THAT ARE WITHIN THE AUTHORITY OF AN ANNUAL GENERAL MEETING OF SHAREHOLDERS	Yes	Shareholder	ABSTAIN	With
China Overseas Land & Investment Ltd.	CAOVF/ CAOVY		5/6/2016	TO RECEIVE AND ADOPT AUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				TO APPROVE DECLARATION OF A FINAL DIVIDEND PER SHARE FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				TO AUTHORIZE BOARD TO FIX REMUNERATION OF DIRECTORS	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO APPROVE GRANTING TO DIRECTORS THE GENERAL AND UNCONDITIONAL MANDATE TO BUY BACK SHARES	Yes	Issuer	For	With
				TO APPROVE GRANTING TO DIRECTORS THE GENERAL AND UNCONDITIONAL MANDATE TO ALLOT, ISSUE, AND DEAL WITH NEW SHARES	Yes	Issuer	For	With
				TO APPROVE EXTENSION OF AUTHORITY GRANTED TO DIRECTORS BY RESOLUTION 7	Yes	Issuer	For	With
China Overseas Property Holdings Ltd.	CNPPF		5/6/2016	TO RECEIVE AND ADOPT AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				TO CONSIDER AND DECLARE A FINAL DIVIDEND PER SHARE FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				TO AUTHORIZE BOARD OF DIRECTORS TO FIX THE RESPECTIVE DIRECTORS' REMUNERATION	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO GRANT A GENERAL MANDATE TO DIRECTORS TO ISSUE, ALLOT, AND DEAL WITH ADDITIONAL SHARES OF COMPANY	Yes	Issuer	For	With
				TO GRANT A GENERAL MANDATE TO DIRECTORS TO REPURCHASE SHARES OF COMPANY	Yes	Issuer	For	With
				TO EXTEND GENERAL MANDATE GRANTED TO DIRECTORS TO ISSUE, ALLOT, AND DEAL WITH ADDITIONAL SHARES	Yes	Issuer	For	With
Cosco Pacific Ltd.	CSPKF		5/18/2016	TO RECEIVE, CONSIDER, AND ADOPT AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND REPORTS OF DIRECTORS AND INDEPENDENT AUDITOR FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				TO DECLARE FINAL DIVIDEND FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				TO AUTHORIZE BOARD OF DIRECTORS TO FIX REMUNERATION OF DIRECTORS FOR YEAR ENDED 12/31/16	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO GRANT GENERAL MANDATE TO DIRECTORS TO ALLOT, ISSUE, AND DEAL WITH ADDITIONAL SHARES	Yes	Issuer	For	With
				TO GRANT GENERAL MANDATE TO DIRECTORS TO REPURCHASE SHARES	Yes	Issuer	For	With
				TO EXTEND GENERAL MANDATE GRANTED TO DIRECTORS TO ISSUE, ALLOT, AND DEAL WITH ADDITIONAL SHARES	Yes	Issuer	For	With
PetroChina Company Limited	PTR	71646E100	5/25/2016	TO CONSIDER AND APPROVE REPORT OF BOARD OF DIRECTORS OF COMPANY FOR YEAR 2015	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE REPORT OF SUPERVISORY COMMITTEE OF COMPANY FOR YEAR 2015	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE AUDITED FINANCIAL STATEMENTS OF COMPANY FOR YEAR 2015	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE DECLARATION AND PAYMENT OF FINAL DIVIDEND FOR YEAR ENDED 12/31/15	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE AUTHORIZATION OF BOARD OF DIRECTORS TO DETERMINE DISTRIBUTION OF INTERIM DIVIDENDS FOR YEAR 2016	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO GRANT A GENERAL MANDATE TO BOARD OF DIRECTORS TO ISSUE AND DEAL WITH DOMESTIC SHARES…	Yes	Issuer	For	With
Delta Electronics, Inc.	2308.TW		6/8/2016	DISCUSSION OF AMENDMENTS TO ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				ADOPTION OF 2015 ANNUAL FINAL ACCOUNTING BOOKS AND STATEMENTS	Yes	Issuer	For	With
				ADOPTION OF 2015 EARNINGS DISTRIBUTION	Yes	Issuer	For	With
				DISCUSSION OF AMENDMENTS TO OPERATION PROCEDURES OF ACQUISITION OR DISPOSAL OF ASSETS	Yes	Issuer	For	With
				ELECTION OF DIRECTOR	Yes	Issuer	For	With
				RELEASING DIRECTORS FROM NON-COMPETITION RESTRICTIONS	Yes	Issuer	For	With
Cheng Shin Rubber Industry Co. Ltd.	2105.TW		6/15/2016	REVISION TO THE ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				2015 BUSINESS REPORTS AND FINANCIAL STATEMENTS	Yes	Issuer	For	With
				2015 PROFIT DISTRIBUTION	Yes	Issuer	For	With
President Chain Store Corp.	2912.TW		6/15/2016	REVISION TO THE ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				2015 FINANCIAL STATEMENTS	Yes	Issuer	For	With
				2015 PROFIT DISTRIBUTION	Yes	Issuer	For	With
				PROPOSAL TO RELEASE NON-COMPETITION RESTRICTION ON THE DIRECTORS	Yes	Issuer	For	With
Sinopec Shanghai Petrochemical Co. Ltd.	SHI	82935M	6/15/2016	TO CONSIDER AND APPROVE 2015 WORK REPORT OF BOARD	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE 2015 WORK REPORT OF SUPERVISORY COMMITTEE	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE 2015 AUDITED FINANCIAL STATEMENTS	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE 2015 PROFIT DISTRIBUTION PLAN	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE 2016 FINANCIAL BUDGET REPORT	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE AMENDMENTS TO ARTICLES OF ASSOCIATION AND APPENDICES OF THOSE ARTICLES	Yes	Issuer	For	With
Infosys Limited	INFY	456788108	6/18/2016	ADOPTION OF FINANCIAL STATEMENTS	No
				DECLARATION OF DIVIDEND	No
				APPOINTMENT OF DR. VISHAL SIKKA AS A DIRECTOR LIABLE TO RETIRE	No
				APPOINTMENT OF AUDITORS	No
CTCI Corp.	9933.TW		6/22/2016	THE REVISION TO THE ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				THE 2015 BUSINESS REPORTS AND FINANCIAL STATEMENTS	Yes	Issuer	For	With
				THE 2015 PROFIT DISTRIBUTION	Yes	Issuer	For	With
				THE PROPOSAL TO RELEASE NON-COMPETITION RESTRICTION ON NEWLY ELECTED DIRECTORS	Yes	Issuer	For	With
Giant Manufacturing Co. Ltd.	9921.TW		6/22/2016	THE REVISION TO THE ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				THE 2015 FINANCIAL STATEMENTS	Yes	Issuer	For	With
				THE 2015 PROFIT DISTRIBUTION	Yes	Issuer	For	With
				EXTRAORDINARY MOTIONS	Yes	Issuer	Abstain	With
Huaneng Power International, Inc.	HNP	443304100	6/23/2016	TO CONSIDER AND APPROVE THE WORKING REPORT FROM THE BOARD OF DIRECTORS	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE WORKING REPORT FROM THE SUPERVISORY COMMITTEE	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE AUDITED FINANCIAL STATEMENTS	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE PROFIT DISTRIBUTION PLAN	Yes	Issuer	For	With
				RATIFY ACCOUNTING FIRM	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE PROPOSAL REGARDING THE CHANGE IN THE INDEPENDENT DIRECTOR	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE PROPOSAL REGARDING THE AMENDMENTS TO THE ARTICLES OF ASSOCIATION	Yes	Issuer	For	With
				TO CONSIDER AND APPROVE THE PROPOSAL REGARDING THE GRANTING OF THE GENERAL MANDATE TO THE BOARD OF DIRECTORS TO ISSUE DOMESTIC SHARES	Yes	Issuer	For	With
Compal Electronics, Inc.	2324.TW		6/24/2016	THE REVISION TO THE ARTICLES OF INCORPORATION	Yes	Issuer	For	With
				CASH DISTRIBUTION FROM CAPITAL ACCOUNT	Yes	Issuer	For	With
				THE REVISION TO THE PROCEDURES OF TRADING DERIVATIVES	Yes	Issuer	For	With
				PROPOSAL TO RELEASE NON-COMPETITION RESTRICTION ON THE DIRECTORS	Yes	Issuer	For	With
				THE 2015 FINANCIAL STATEMENTS	Yes	Issuer	For	With
				THE 2015 PROFIT DISTRIBUTION	Yes	Issuer	For	With

Cutler Fixed Income Fund

The Cutler Fixed Income Fund held no securities entitled to vote at a meeting of shareholders during the reporting period (July 1, 2015 through June 30, 2016).