Dimensional believes that stronger governance practices generally will be reflected in higher stock prices through a combination of lower discount rates and higher cash flows.
As an independent asset management firm, we are committed to encouraging good corporate governance practices at the companies in which we invest. We seek to impact governance in several ways, including through proxy voting and listening to companies held in the portfolios we manage. We also seek to improve internal processes through research on governance matters and participation in industry surveys and events.
For questions about our investment stewardship activities or policies, visit the links below or contact us at firstname.lastname@example.org.
Frequently Asked Questions
Who is responsible for Investment Stewardship at Dimensional?
Dimensional’s global investment stewardship activities are managed by the Investment Stewardship Group, which sits within Dimensional’s Portfolio Management department. The group implements policies, monitors day-to-day operations, and researches governance issues and industry trends. Our Investment Stewardship Committee, comprised of senior management, is responsible for overseeing the Investment Stewardship Group, formulating and recommending changes to policy, and making decisions on governance-related matters.
What is Dimensional’s policy on proxy voting?
Dimensional votes or refrains from voting proxies on behalf of mutual funds as well as those separate account mandates for which clients have given us the authority to vote according to its then current proxy voting policies and procedures. Our voting activities are intended to maximize shareholder value. This involves consideration of the feasibility, costs, and expected benefits of voting for each portfolio. Our proxy voting policies and procedures, summarized in the Annual Information Form (AIF) for the funds, further describe how we vote; answers to some specific questions are provided below.*
Does Dimensional vote proxies at every company meeting?
Dimensional seeks to vote, or refrain from voting, proxies in a manner that we believe is in the best interest of each portfolio. In instances where the costs—including opportunity costs—of voting exceed the expected economic benefits, we may refrain from voting. Additionally, international market restrictions—such as share blocking, re-registration, and onerous power of attorney requirements—may preclude us from voting in certain markets or at certain company meetings.
Does Dimensional utilize any third-party services in the proxy voting process?
Yes. Dimensional has engaged Institutional Shareholder Services (ISS) to provide information on shareholder meeting dates, research on proxy proposals, and voting recommendations based on our proxy voting policies and procedures. ISS also provides vote execution through its proprietary voting platform. In addition to ISS, we may also review voting recommendations from Glass Lewis and other research providers for selected meetings. Third-party research is only one of several inputs into our voting decision on a given proposal. We retain final discretion on how to vote.
Does Dimensional disclose its voting intentions or share ownership prior to voting?
Dimensional generally does not disclose our voting intentions or the portfolios’ share ownership prior to voting, except as required by applicable laws and regulation.
Does Dimensional make its proxy voting record publicly available?
Yes. We disclose voting information for our Canadian mutual funds on our public website.
Is Dimensional a signatory to the United Nations Principles for Responsible Investment (UN-PRI)?
Yes. Dimensional became a signatory to the UN-PRI in August 2012.
How may I contact Dimensional’s Investment Stewardship Group?
The group may be contacted via email: email@example.com.
*Dimensional Fund Advisors Canada ULC (Dimensional Canada) has delegated the authority to vote proxies for the portfolio securities held by the funds to Dimensional Fund Advisors LP, Dimensional Canada’s U.S. parent company, in accordance with the proxy voting policies and procedures.
Canadian securities regulatory authorities require public investment funds to publish on their websites proxy voting records on an annual basis for the one-year period ending on June 30 of each year. In this section, you will find the most recent proxy voting records for the Dimensional Funds that hold voting securities. Below are the required proxy vote filings of the portfolios managed by Dimensional.
Period Ending June 30, 2019DFA Canadian Core Equity Fund
DFA Canadian Vector Equity Fund
DFA US Core Equity Fund
DFA US Vector Equity Fund
DFA International Core Equity Fund
DFA International Vector Equity Fund
DFA Global 40EQ-60FI Portfolio
DFA Global 50EQ-50FI Portfolio
DFA Global 60EQ-40FI Portfolio
DFA Global 70EQ-30FI Portfolio
DFA Global 80EQ-20FI Portfolio
DFA Global Equity Portfolio
DFA Global Fixed Income Portfolio
DFA Global Real Estate Securities Fund
DFA Five-Year Global Fixed Income Fund
DFA Global Investment Grade Fixed Income Fund
DFA Global Targeted Credit Fund
A summary of the proxy voting policies and procedures and proxy voting guidelines adopted by Dimensional Fund Advisors, the sub-advisor for the Dimensional Funds, can be found in the Annual Information Form for the funds.How to Read the Proxy Voting Record
The proxy voting record is an alphabetical listing of issuers whose voting securities were held by the Dimensional Funds during the relevant period. The record indicates how or whether the funds voted on each matter submitted to securityholders of those issuers.Legend
Sponsor This column indicates who proposed the matter voted on, Management or a Shareholder Mgt Rec Management Recommended Vote. This column indicates whether management of the issuer recommended a vote for or against the matter voted on. Vote Cast This column indicates how the Dimensional Funds voted on each matter. "For" indicates that the votes were cast in favour of the matter. "Against" indicates that the votes were cast against the matter. "Withheld" indicates that the fund did not vote on the matter. Did Not Vote indicates that the Fund did not vote that particular ballot, in most cases due to the fact that the Fund is not voting ballots for securities settled in certain countries.
Proxy Voting Records