Exercise of voting rights

The capital management company does not require a written power of attorney from the investors to exercise voting rights arising from shares belonging to a collective investment fund. Section 129(3) of the Stock Corporation Act applies correspondingly. The capital management company should, as a rule, itself exercise the voting rights arising from shares of companies having their seat within the territorial scope of this Act. The voting right may be exercised in an individual case through a proxy; the proxy should be given instructions for the exercise. An independent proxy voting representative may be authorised on an ongoing basis and without instructions for the exercise of voting rights.