Florida State Board of Administration, Tallahassee, is now disclosing all its proxy votes online, including those made in advance of corporate meetings, according to a statement from the board, which oversees $154 billion.
Because voting is ahead of the meeting, wed like other stakeholders to be aware of our decision, Michael P. McCauley, the boards senior corporate governance officer, said in an interview.
The votes are disclosed almost in real time as they are made, typically 10 days prior to the company meeting, Mr. McCauley said in the interview.
The SBA expects this leadership in the disclosure of its voting will assist other investor groups challenged with fewer governance resources and enable them to make more informed voting decisions, the statement said.
Florida SBAs proxy-voting database, at http://www.sbafla.com/corpgov.aspx, is fully searchable based on date, calendar range, company name and SBA portfolio, including by investment manager, the statement said.
The disclosure is for all U.S. publicly traded companies, in internally and externally managed portfolios and in passive and active investments, Mr. McCauley said. It also includes some international equity proxies for which FSBA retains voting authority, although most of its international equity proxy-voting is at the discretion of its investment managers and is not disclosed, Mr. McCauley said.
The board is reviewing how to improve its coverage of global governance issues, including proxy voting, he added.
Florida SBA, which oversees the $126.9 billion Florida Retirement System, Tallahassee, cast proxy votes for 3,534 public companies, covering more than 30,373 individual proxy voting issues, in the 12 months ended June 30, the statement said.