SWIPRA is an independent Swiss Proxy Advisor.
With the objective of long-term shareholder value generation and based on principles of value-based management and empirically relevant criteria, SWIPRA provides voting recommendations for the 50 most highly capitalized shares listed on the SIX Swiss Exchange, composing the SMI Expanded® index.
The scope of SWIPRA’s business is to provide credible, high quality and at the same time cost efficient advice on issues concerning general meetings of listed companies. SWIPRA will provide its recommendations independently from the issuing firms and other institutions and focus solely on the long term shareholder value generation. SWIPRA further aims at facilitating the dialogue between the different stakeholders of a firm in order to help developing a corporate governance that can positively impact the value of the firm in a sustainable manner.
Detailed research analysis and voting recommendations are developed in collaboration with external partners. Agenda items of general meetings are assessed according to the SWIPRA Policy Considerations. These considerations are based on general academic work, theoretical and empirical, and take reflect specific Swiss conditions. SWIPRA does neither operate as an asset manager nor as a consultant for listed companies and does not act as proxy for investors. Summary recommendations will be published on the SWIPRA webpage two days prior to the AGM. The detailed analysis and recommendations are only available to SWIPRA clients.
Professional Investors will profit from the process, the knowledge and the comprehensive experience in terms of sustainable, value creating Corporate Governance as well as from the independence of SWIPRA. The investor will receive an optimal foundation to make use of the voting rights during general meetings in an efficient and well documented manner.
The issuer or rather the company profits from the independent assessment which adheres to the unique goal of increasing the long-term shareholder value of the company. The evaluation process leading to the recommendation is based on a dialogue, which SWIPRA will initiate with firms that have contested agenda items, in order to grant a fair representation from the issuers’ point of view. Because SWIPRA follows a principle-based approach in developing its recommendations, it will be, for individual cases, be possible to deviate from the base rules of the guidelines, as long as they are and can be justified.
SWIPRA’s voting recommendations are founded on the principles of long-term shareholder value generation and thus the creation of longterm value for the company, its stakeholders and ultimately society. Hence, SWIPRA aims to provide our recommendations in an economically well-founded manner taking into consideration practical knowledge and experience as well as academic research. SWIPRA has therefore issued a white-paper, the Policy Considerations, which discusses the most important criteria in terms of value-oriented, sustainable management. Because SWIPRA’s Policy Considerations are empirically founded, they reflect an objective view on the agenda item issues. The policy considerations further reflect certain peculiarities of the Swiss market and, if appropriate, international aspects. SWIPRA acknowledges the individuality of the challenges faced by the companies and hence supports the notion that there is not a single `best practice’ of corporate governance and neither a `one-size-fits-all’-approach.
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