We believe investing for tomorrow’s returns means investing with a responsible mindset.
The consideration of environmental, social, and governance (ESG) factors in our investment process enhances our ability to identify long term value and investment risks and in so doing, achieve optimal financial outcomes for our clients.
Responsible investing is not an add-on, its embedded into our valuation-based philosophy and rigorous investment process.
As responsible shareholders it is important to us that the companies, we invest in are striving to advance environmental, economic, and social goals while they improve their competitive position. As a result, the collaborative movement towards the greater good is essential and this will ultimately be paid back in superior risk-adjusted returns for our clients.
Truffle is a signatory to the United Nations Principles of Responsible Investing (UN PRI) and we support the principles of the Code to Responsible Investing in South Africa (CRISA).
ESG integration
Our teams’ responsibility to ESG, how we think about ESG factors, and the implementation of our thinking into our investment philosophy and process.
At Truffle, ESG analysis is important in our focus on downside protection through highlighting opportunities and risks. Mitigating risks due to exposure to suboptimal ESG outcomes plays a critical role in the pursuit of producing superior long-term sustainable returns.
Investment analysts are responsible for researching ESG factors and issues relating to the sectors and companies they cover in their research. All analysts are supported by a dedicated ESG analyst, who provides oversight and ESG specific expertise.
ESG integration happens at 3 stages of our investment process:
Engaging with company management is a vital part of our investment process. We prefer to engage on the various ESG topics than outright exclusion or disinvestment. Engagement is used as a feedback loop in each of the above stages to ensure we are appropriately calibrating the ESG risks and opportunities. We engage with company management on ESG related concerns and make a point to follow up on specific ESG observations. This enables us to measure their progress and update our investment case accordingly. On an annual basis, we release a Stewardship Report that details our engagements.
Proxy voting
This is done in accordance with our proxy voting policy. Our voting recommendations are published on a quarterly basis.
| Q1 2026 | Truffle Asset Management |
|---|---|
| No of resolutions | 161 |
| No of resolutions voted for | 139 |
| No of resolutions voted against | 22 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Astral Foods Limited | ARL | 2026/02/05 | Annual General Meeting |
| Dipula Income Fund Limited | DIB | 2026/02/17 | Annual General Meeting |
| Firstrand Limited | FSR | 2026/02/11 | Extraordinary or Special General Meeting |
| Fairvest ltd | FTB | 2026/03/02 | Annual General Meeting |
| Pan African Resources plc | PAN | 2026/03/26 | Ordinary General Meeting |
| Pepkor Holdings Limited | PPH | 2026/02/24 | Annual General Meeting |
| Redefine Properties Limited | RDF | 2026/02/12 | Annual General Meeting |
| Sappi Limited | SAP | 2026/02/04 | Annual General Meeting |
| Vukile Property Fund Limited | VKE | 2026/03/20 | Ordinary General Meeting |
| Q4 2025 | Truffle Asset Management |
|---|---|
| No of resolutions | 529 |
| No of resolutions voted for | 477 |
| No of resolutions voted against | 49 |
| No of abstentions | 3 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Anglo American plc | AGL | 2025/12/09 | Ordinary General Meeting |
| Aspen Pharmacare Holdings Limited | APN | 2025/12/04 | Annual General Meeting |
| Attacq Limited | ATT | 2025/11/14 | Annual General Meeting |
| Avi Limited | AVI | 2025/11/11 | Annual General Meeting |
| Bid Corp Limited | BID | 2025/10/30 | Annual General Meeting |
| Discovery Limited | DSY | 2025/11/20 | Annual General Meeting |
| Fortress Income Fund Limited B | FFB | 2025/12/01 | Annual General Meeting |
| Firstrand Limited | FSR | 2025/12/02 | Annual General Meeting |
| Growthpoint Properties Limited | GRT | 2025/11/25 | Annual General Meeting |
| Harmony Gold Mining Company Limited | HAR | 2025/11/26 | Annual General Meeting |
| Hyprop Investments Limited | HYP | 2025/11/27 | Annual General Meeting |
| Impala Platinum Holdings Limited | IMP | 2025/10/30 | Annual General Meeting |
| KAP Industrial Holdings Limited | KAP | 2025/11/26 | Annual General Meeting |
| MMI Holdings Limited | MTM | 2025/11/20 | Annual General Meeting |
| Northam Platinum Limited | NPH | 2025/10/27 | Annual General Meeting |
| African Rainbow Shrs Ords | RBO | 2025/11/20 | Annual General Meeting |
| Remgro Limited | REM | 2025/11/27 | Annual General Meeting |
| South32 Limited | S32 | 2025/10/23 | Annual General Meeting |
| Shoprite Holdings Limited | SHP | 2025/11/10 | Annual General Meeting |
| Wilson Bayly Holmes-Ovcon Limited | WBO | 2025/11/27 | Annual General Meeting |
| Woolworths Holdings Limited | WHL | 2025/11/17 | Annual General Meeting |
| Q3 2025 | Truffle Asset Management |
|---|---|
| No of resolutions | 377 |
| No of resolutions voted for | 316 |
| No of resolutions voted against | 61 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Boxer Retail Limited | BOX | 2025/07/29 | Annual General Meeting |
| Compagnie Financière Richemont SA | CFR | 2025/09/10 | Annual General Meeting |
| Capitec Bank Holdings Limited | CPI | 2025/07/18 | Annual General Meeting |
| Glencore plc | GLN | 2025/08/05 | Ordinary General Meeting |
| Hosken Cons Investments Limited | HCI | 2025/08/28 | Annual General Meeting |
| Investec Limited | INL | 2025/08/07 | Annual General Meeting |
| Investec plc | INP | 2025/08/07 | Annual General Meeting |
| PSG Konsult Limited | KST | 2025/07/24 | Annual General Meeting |
| Naspers Limited | NPN | 2025/08/21 | Annual General Meeting |
| Ninety One Limited | NY1 | 2025/07/23 | Annual General Meeting |
| Primary Health Properties PLC | PHPSJ | 2025/07/01 | Ordinary General Meeting |
| Pick n Pay Stores Limited | PIK | 2025/08/05 | Annual General Meeting |
| Prosus Nv | PRX | 2025/08/20 | Annual General Meeting |
| Reinet Investments SCA | RNI | 2025/08/26 | Annual General Meeting |
| Sirius Real Estate Limited | SRE | 2025/07/07 | Annual General Meeting |
| Stor-age Property Limited | SSS | 2025/09/04 | Annual General Meeting |
| Tsogo Sun Gaming Limited | TSG | 2025/08/29 | Annual General Meeting |
| Vukile Property Fund Limited | VKE | 2025/09/01 | Annual General Meeting |
| Q2 2025 | Truffle Asset Management |
|---|---|
| No of resolutions | 522 |
| No of resolutions voted for | 468 |
| No of resolutions voted against | 53 |
| No of abstentions | 1 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Absa Group Limited | ABG | 6/3/2025 | Annual General Meeting |
| Absa Bank Limited | ABSP | 6/3/2025 | Court Meeting |
| A E C I Limited | AFE | 5/27/2025 | Annual General Meeting |
| Anglo American Plc | AGL | 4/30/2025 | Annual General Meeting |
| Anglogold Ashanti Plc | ANG | 5/27/2025 | Annual General Meeting |
| Anheuser-Busch Inbev SA/NV | ANH | 4/30/2025 | Annual General Meeting |
| British American Tobacco Plc | BTI | 4/16/2025 | Annual General Meeting |
| Exxaro Resources Limited | EXX | 5/15/2025 | Annual General Meeting |
| Gold Fields Limted | GFI | 5/28/2025 | Annual General Meeting |
| Glencore Plc | GLN | 5/28/2025 | Annual General Meeting |
| Grindrod Limited | GND | 5/22/2025 | Annual General Meeting |
| Kumba Iron Ore Limited | KIO | 6/4/2025 | Annual General Meeting |
| Mondi Plc | MNP | 5/8/2025 | Annual General Meeting |
| Nedbank Group Limited | NED | 5/30/2025 | Annual General Meeting |
| Nepi Rockcastle Nv | NRP | 5/15/2025 | Annual General Meeting |
| Ninety One Limited | NY1 | 4/9/2025 | Ordinary General Meeting |
| Primary Health Properties Plc | PHPSJ | 5/7/2025 | Annual General Meeting |
| Quilter Plc | QLT | 5/22/2025 | Annual General Meeting |
| Resilient Reit Limited | RES | 6/25/2025 | Annual General Meeting |
| SA Corp Real Estate Limited | SAC | 6/30/2025 | Annual General Meeting |
| Standard Bank Group Limited | SBK | 6/9/2025 | Annual General Meeting |
| Standard Bank Group Limited Preferred Shares | SBPP | 6/9/2025 | Annual General Meeting |
| Spear Reit Limited | SEA | 6/30/2025 | Annual General Meeting |
| Sanlam Limited | SLM | 6/4/2025 | Annual General Meeting |
| Valterra Platinum Limited | VAL | 5/8/2025 | Annual General Meeting |
| Q1 2025 | Truffle Asset Management |
|---|---|
| No of resolutions | 197 |
| No of resolutions voted for | 181 |
| No of resolutions voted against | 16 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Astral Foods Limited | ARL | 30/1/2025 | Annual General Meeting |
| Sappi Limited | SAP | 5/2/2025 | Annual General Meeting |
| Redefine Prop Ltd | RDF | 13/2/2025 | Annual General Meeting |
| Dipula Income Fund Ltd | DIB | 18/2/2025 | Annual General Meeting |
| Tiger Brands Limited | TBS | 20/2/2025 | Annual General Meeting |
| Barloworld Limited | BAW | 21/2/2025 | Annual General Meeting |
| Pepkor Holdings Limited | PPH | 24/2/2025 | Annual General Meeting |
| Barloworld Limited | BAW | 26/2/2025 | Ordinary General Meeting |
| The Spar Group Limited | SPP | 28/2/2025 | Annual General Meeting |
| Fairvest Limited | FTB | 5/3/2025 | Annual General Meeting |
| Q4 2024 | Truffle Asset Management |
|---|---|
| No of resolutions | 558 |
| No of resolutions voted for | 479 |
| No of resolutions voted against | 79 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Pick N Pay Stores Limited | PIK | 10/1/2024 | Ordinary General Meeting |
| Northam Platinum Holdings Limited | NHM | 10/28/2024 | Annual General Meeting |
| Metair Investments Limited | MTA | 10/29/2024 | Ordinary General Meeting |
| Impala Platinum Holdings Limited | IMP | 10/30/2024 | Annual General Meeting |
| Bid Corporation Limited | BID | 10/31/2024 | Annual General Meeting |
| Motus Holding Limited | MTH | 11/5/2024 | Annual General Meeting |
| Truworths International Limited | TRU | 11/7/2024 | Annual General Meeting |
| Shoprite Holdings Limited | SHP | 11/11/2024 | Annual General Meeting |
| Avi Limited | AVI | 11/12/2024 | Annual General Meeting |
| Italtile Limited | ITE | 11/14/2024 | Annual General Meeting |
| Attacq Limited | ATT | 11/14/2024 | Annual General Meeting |
| Sasol Limited | SOL | 11/15/2024 | Annual General Meeting |
| Pan African Resources Plc | PAN | 11/21/2024 | Annual General Meeting |
| Wilson Bayly Holmes-Ovcon Limited | WBO | 11/21/2024 | Annual General Meeting |
| Discovery Limited | DSY | 11/21/2024 | Annual General Meeting |
| Moment Metro Holdings Limited | MNP | 11/21/2024 | Annual General Meeting |
| Woolworths Holdings Limited | WHL | 11/25/2024 | Annual General Meeting |
| Growthpoint Properties Limited | GRT | 11/26/2024 | Annual General Meeting |
| Outsurance Group Limited | OUT | 11/26/2024 | Annual General Meeting |
| Drdgold Limited | DRD | 11/27/2024 | Annual General Meeting |
| Remgro Limited | REM | 11/28/2024 | Annual General Meeting |
| Super Group Limited | SPG | 11/29/2024 | Annual General Meeting |
| Firstrand Limited | FRS | 11/29/2024 | Annual General Meeting |
| Kap Limited | KAP | 11/29/2024 | Annual General Meeting |
| The Bidvest Group Limited | BVT | 11/29/2024 | Annual General Meeting |
| Fortress Income Fund Limited | FPT | 12/3/2024 | Annual General Meeting |
| Aspen Pharmacare Holdings Limited | APN | 12/5/2024 | Annual General Meeting |
| Mas Plc | MSP | 12/6/2024 | Annual General Meeting |
| Q3 2024 | Truffle Asset Management |
|---|---|
| No of resolutions | 421 |
| No of resolutions voted for | 341 |
| No of resolutions voted against | 79 |
| No of abstentions | 1 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Moment Metro Hldngs Ltd | MNP | 7/1/2024 | Consent Meeting |
| Ninety One Plc | N91 | 7/25/2024 | Annual General Meeting |
| Ninety One Limited | NY1 | 7/25/2024 | Annual General Meeting |
| Raubex Group Limited | RBX | 7/26/2024 | Annual General Meeting |
| Spear Reit Limited | BNLPYF7 | 7/31/2024 | Annual General Meeting |
| Afrimat Limited | AFT | 8/6/2024 | Annual General Meeting |
| Investec Bank Ltd | INL | 8/8/2024 | Annual General Meeting |
| Investec Plc | INP | 8/8/2024 | Annual General Meeting |
| Naspers Ltd -N- | NPN | 8/22/2024 | Annual General Meeting |
| Reinet Investments S.C.A | RNI | 8/27/2024 | Annual General Meeting |
| Pick N Pay Stores Ltd | B3Q9777 | 8/27/2024 | Annual General Meeting |
| Multichoice Group Ltd | MUR | 8/28/2024 | Annual General Meeting |
| Mr Price Group Limited | MRP | 8/29/2024 | Annual General Meeting |
| Hci Ltd | BJBLRK3 | 8/29/2024 | Annual General Meeting |
| Tsogo Sun Limited | TSG | 9/2/2024 | Annual General Meeting |
| Vukile Property Fund Ltd | VXN331 | 9/2/2024 | Annual General Meeting |
| Premier Group Limited | PMR | 9/4/2024 | Annual General Meeting |
| Stor-Age Prop Reit Ltd | SSS | 9/5/2024 | Annual General Meeting |
| The Foschini Group Ltd | TGA | 9/5/2024 | Annual General Meeting |
| Omnia Holdings Limited | OMN | 9/11/2024 | Annual General Meeting |
| Q2 2024 | Truffle Asset Management |
|---|---|
| No of resolutions | 465 |
| No of resolutions voted for | 413 |
| No of resolutions voted against | 52 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| British American Tobacco Plc | BTI | 4/24/2024 | Annual General Meeting |
| Anheuser-Busch Inbev SA/NV | ANH | 4/24/2024 | Annual General Meeting |
| Anglo American Plc | AGL | 4/30/2024 | Annual General Meeting |
| Metair Investments Limited | MTA | 5/7/2024 | Annual General Meeting |
| Anglo American Platinum Limited | AMS | 5/9/2024 | Annual General Meeting |
| Nepi Rockcastle Nv | NRP | 5/14/2024 | Annual General Meeting |
| Shaftesbury Capital Plc | SHC | 5/23/2024 | Annual General Meeting |
| Quilter Plc | QLT | 5/23/2024 | Annual General Meeting |
| Grindrod Limited | GND | 5/23/2024 | Annual General Meeting |
| Mtn Group Limited | MTN | 5/24/2024 | Annual General Meeting |
| Anglogold Ashanti Plc | ANH | 5/28/2024 | Annual General Meeting |
| A E C I Limited | AFE | 5/28/2024 | Annual General Meeting |
| Glencore Plc | GLN | 5/29/2024 | Annual General Meeting |
| Gold Fields Limited | GFI | 5/30/2024 | Annual General Meeting |
| Old Mutual Limited | OMU | 5/31/2024 | Annual General Meeting |
| Nedbank Group Limited | NED | 5/31/2024 | Annual General Meeting |
| Capitec Bank Holdings Limited | CPI | 5/31/2024 | Annual General Meeting |
| Absa Group Limited | ABG | 6/4/2024 | Annual General Meeting |
| Thungela Resources Propriety Limited | TBS | 6/4/2024 | Annual General Meeting |
| Sanlam Limited | SLM | 6/5/2024 | Annual General Meeting |
| SA Corp Real Estate Limited | SAC | 6/6/2024 | Annual General Meeting |
| Standard Bank Group Limited | SBK | 6/10/2024 | Annual General Meeting |
| Pan African Resources Plc | PAN | 6/10/2024 | Ordinary General Meeting |
| Pick N Pay Stores Limited | PIK | 6/26/2024 | Ordinary General Meeting |
| Sirius Real Estate Limited | SRE | 6/28/2024 | Annual General Meeting |
| Q1 2024 | Truffle Asset Management |
|---|---|
| No of resolutions | 246 |
| No of resolutions voted for | 212 |
| No of resolutions voted against | 34 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Astral Foods Limited | ARL | 2024/02/01 | Annual General Meeting |
| Coronation Fund Manager Limited | CML | 2024/02/20 | Annual General Meeting |
| Dipula Income Fund Limited | DIB | 2024/02/21 | Annual General Meeting |
| Fortress Income Fund Ltd | FFA | 2024/01/19 | Ordinary General Meeting |
| Harmony Gold Mining Company Limited | HAR | 2024/01/31 | Extraordinary or Special General Meeting |
| Life Healthcare Group Holdings Limited | LHC | 2024/02/22 | Annual General Meeting |
| Netcare Limited | NTC | 2024/02/02 | Annual General Meeting |
| Oceana Group Limited | OCE | 2024/02/06 | Annual General Meeting |
| Pepkor Holdings Limited | PPH | 2024/03/07 | Annual General Meeting |
| Redefine Properties Limited | RDF | 2024/02/19 | Annual General Meeting |
| Sappi Limited | SAP | 2024/02/07 | Annual General Meeting |
| Sasol Limited | SOL | 2024/01/19 | Annual General Meeting |
| The Spar Group Limited | SPP | 2024/02/21 | Annual General Meeting |
| Tiger Brands Limited | TBS | 2024/02/22 | Annual General Meeting |
| Q4 2023 | Truffle Asset Management |
|---|---|
| No of resolutions | 519 |
| No of resolutions voted for | 443 |
| No of resolutions voted against | 75 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| South 32 Limited | S32 | 2023/10/26 | Annual General Meeting |
| Northam Platinum Holdings Limited | NHM | 2023/10/30 | Annual General Meeting |
| Impala Platinum Holdngs Limited | IMP | 2023/10/30 | Annual General Meeting |
| Motus Holding Limited | MTH | 2023/11/08 | Annual General Meeting |
| Avi Limited | AVI | 2023/11/08 | Annual General Meeting |
| Italtile Limited | ITE | 2023/11/09 | Annual General Meeting |
| Shoprite Holdings Limited | SHP | 2023/11/13 | Annual General Meeting |
| Attacq Limited | ATT | 2023/11/16 | Annual General Meeting |
| Sasol Limited | SOL | 2023/11/17 | Ordinary General Meeting |
| Kap Limited | KAP | 2023/11/21 | Annual General Meeting |
| Woolworths Holdngs Limited | WHL | 2023/11/22 | Annual General Meeting |
| Bid Corporation Limited | BID | 2023/11/22 | Annual General Meeting |
| Moment Metro Holdngs Limited | MNP | 2023/11/23 | Annual General Meeting |
| Wilson Bayly Holmes Limited | WBO | 2023/11/23 | Annual General Meeting |
| Pan African Resources Pl | PAN | 2023/11/23 | Annual General Meeting |
| Growthpoint Properties Limited | GRT | 2023/11/28 | Annual General Meeting |
| The Bidvest Group Limited | BVT | 2023/11/28 | Annual General Meeting |
| Super Group Limited | SPG | 2023/11/28 | Annual General Meeting |
| Firstrand Limited | FRS | 2023/11/30 | Annual General Meeting |
| Fortress Income Fund Limited | FPT | 2023/12/01 | Annual General Meeting |
| Harmony Gold Mining Company Limited | HAR | 2023/12/04 | Annual General Meeting |
| Remgro Limited | REM | 2023/12/04 | Annual General Meeting |
| Rmb Holdings Limited | RMH | 2023/12/05 | Annual General Meeting |
| Aspen Pharmacare Holdngs Limited | APN | 2023/12/07 | Annual General Meeting |
| Mas Plc | MSP | 2023/12/07 | Annual General Meeting |
| African Rainbow Minerals Limited | ARI | 2023/12/08 | Annual General Meeting |
| Life Healthcare Group Holdings Limited | LTE | 2023/12/08 | Ordinary General Meeting |
| Q3 2023 | Truffle Asset Management |
|---|---|
| No of resolutions | 439 |
| No of resolutions voted for | 367 |
| No of resolutions voted against | 72 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Anglogold Ashanti Limited | ANG | 2023/07/05 | Ordinary General Meeting |
| Sirius Real Estate Limited | SRE | 2023/07/10 | Annual General Meeting |
| PSG Konsult Limited | KST | 2023/07/13 | Annual General Meeting |
| Pick N Pay Stores Limited | PIK | 2023/07/19 | Annual General Meeting |
| Growthpoint Properties Limited | GRT | 2023/07/19 | Ordinary General Meeting |
| Ninety One Plc | N91 | 2023/07/26 | Annual General Meeting |
| Ninety One Limited | NY1 | 2023/07/26 | Annual General Meeting |
| Raubex Group Limited | RBX | 2023/07/28 | Annual General Meeting |
| Afrimat Limited | AFT | 2023/08/02 | Annual General Meeting |
| Investec Plc | INP | 2023/08/03 | Annual General Meeting |
| Investec Bank Limited | INL | 2023/08/03 | Annual General Meeting |
| Tsogo Sun Limited | TSG | 2023/08/16 | Ordinary General Meeting |
| Anglogold Ashanti Limited | ANG | 2023/08/18 | Ordinary General Meeting |
| Prosus Nv | PRX | 2023/08/23 | Annual General Meeting |
| Naspers Limited | NPN | 2023/08/24 | Annual General Meeting |
| Tsogo Sun Limited | TSG | 2023/08/29 | Annual General Meeting |
| Mr Price Group Limited | MRP | 2023/08/30 | Annual General Meeting |
| Stor-Age Prop Reit Limited | SSS | 2023/08/31 | Annual General Meeting |
| Hosken Cons Investments Limited | HCI | 2023/09/01 | Annual General Meeting |
| Vukile Property Fund Limited | VKE | 2023/09/01 | Annual General Meeting |
| Compagnie Fin Richemont | CFR | 2023/09/06 | Annual General Meeting |
| Attacq Limited | ATT | 2023/09/18 | Ordinary General Meeting |
| Q2 2023 | Truffle Asset Management |
|---|---|
| No of resolutions | 393 |
| No of resolutions voted for | 348 |
| No of resolutions voted against | 45 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Compagnie Fin Richemont | CFR | 2023/04/04 | Extraordinary or Special General Meeting |
| British American Tobacco | BTI | 2023/04/19 | Annual General Meeting |
| Anglo American Plc | AGL | 2023/04/26 | Annual General Meeting |
| Anheuser-Busch Inbev Sa/N.V. | ANH | 2023/04/26 | Annual General Meeting |
| Mondi Plc | MNP | 2023/05/04 | Annual General Meeting |
| Anglogold Ashanti Limited | ANG | 2023/05/15 | Annual General Meeting |
| Quilter Plc | QLT | 2023/05/18 | Annual General Meeting |
| Exxaro Resources Limited | EXX | 2023/05/18 | Annual General Meeting |
| Astoria Investments Ltd | ARA | 2023/05/24 | Annual General Meeting |
| Grindrod Limited | GND | 2023/05/25 | Annual General Meeting |
| Glencore Plc | GLN | 2023/05/26 | Annual General Meeting |
| AECI Limited | AFE | 2023/05/30 | Annual General Meeting |
| Tsogo Sun Gaming Limited | TSG | 2023/05/31 | Annual General Meeting |
| Nedbank Group Limited | NED | 2023/06/02 | Annual General Meeting |
| Absa Group Limited | ABG | 2023/06/02 | Annual General Meeting |
| SA Corp Real Estate Fund | SAC | 2023/06/05 | Annual General Meeting |
| Wilson Bayly Holmes-Ovcon Limited | WBO | 2023/06/06 | Ordinary General Meeting |
| Sanlam Limited | SLM | 2023/06/07 | Annual General Meeting |
| Standard Bank Group Ltd | SBK | 2023/06/12 | Annual General Meeting |
| Nepi Rockcastle Nv | NRP | 2023/06/14 | Annual General Meeting |
| Bid Corporation Limited | BID | 2023/06/29 | Ordinary General Meeting |
| Q1 2023 | Truffle Asset Management |
|---|---|
| No of resolutions | 142 |
| No of resolutions voted for | 121 |
| No of resolutions voted against | 21 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Astral Foods Limited | ARL | 2023/02/02 | Annual General Meeting |
| Schroder European Real Estate (Scp) | SCD | 2023/02/02 | Annual General Meeting |
| Netcare Limited | NTC | 2023/02/03 | Annual General Meeting |
| Sappi Limited | SAP | 2023/02/08 | Annual General Meeting |
| Dipula Income Fund Ltd | DCP | 2023/02/22 | Annual General Meeting |
| Redefine Properties Limited | RDF | 2023/02/23 | Annual General Meeting |
| Pepkor Holdings Limited | PPH | 2023/02/28 | Annual General Meeting |
| Q4 2022 | Truffle Asset Management |
|---|---|
| No of resolutions | 223 |
| No of resolutions voted for | 182 |
| No of resolutions voted against | 41 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Date | Meeting Type |
|---|---|---|---|
| Dipula Income Fund Limited | DIB | 05/10/2022 | Annual General Meeting |
| Impala Platinum Holdings Limited | IMP | 10/10/2022 | Annual General Meeting |
| Northam Platinum Holdings Limited | NPH | 25/10/2022 | Annual General Meeting |
| South32 Limited | S32 | 27/10/2022 | Annual General Meeting |
| Motus Holding Limited | MTH | 2022/11/02 | Annual General Meeting |
| Italtile Limited | ITE | 2022/11/11 | Annual General Meeting |
| Attacq Limited | ATT | 2022/11/17 | Annual General Meeting |
| Harmony G M Co Ltd Ord | HAR | 2022/11/29 | Annual General Meeting |
| Growthpoint Prop Ltd | UGRT | 2022/11/29 | Annual General Meeting |
| Super Group Limited | SPG | 2022/11/29 | Annual General Meeting |
| Remgro Limited | REM | 2022/11/30 | Annual General Meeting |
| Sasol Limited | SOL | 2022/12/02 | Annual General Meeting |
| Mas Plc | MSP | 2022/12/05 | Annual General Meeting |
| Q3 2022 | Truffle Asset Management |
|---|---|
| No of resolutions | 438 |
| No of resolutions voted for | 378 |
| No of resolutions voted against | 59 |
| No of abstentions | 0 |
| No of Non-Voting | 1 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Sirius Real Estate Limited | SRE | Annual General Meeting | 06/07/2022 |
| Ninety One Limited | NY1 | Annual General Meeting | 26/07/2022 |
| Hyprop Investments Limited | HYP | Annual General Meeting | 20/07/2022 |
| Ninety One plc | N91 | Annual General Meeting | 26/07/2022 |
| Pick n Pay Stores Limited | PIK | Annual General Meeting | 26/07/2022 |
| Mediclinic International Plc | MEI | Annual General Meeting | 28/07/2022 |
| Afrimat Limited | AFT | Annual General Meeting | 03/08/2022 |
| Investec Limited | INL | Annual General Meeting | 04/08/2022 |
| Old Mutual Limited | OMU | Annual General Meeting | 12/08/2022 |
| Equities Property Fund Limited | EQU | Annual General Meeting | 16/08/2022 |
| RMB Holdings Limited | RMH | Annual General Meeting | 23/08/2022 |
| Grindrod Limited | GND | Annual General Meeting | 23/08/2022 |
| Prosus N.V. | PRX | Annual General Meeting | 24/08/2022 |
| Mr Price Group Limited | MRP | Annual General Meeting | 24/08/2022 |
| Naspers Limited | NPN | Annual General Meeting | 25/08/2022 |
| Firstrand Limited | FSR | Annual General Meeting | 25/08/2022 |
| Reinet Investments S.C.A. | RNI | Annual General Meeting | 30/08/2022 |
| Vukile Property Fund Limited | VKE | Annual General Meeting | 01/09/2022 |
| Compagnie Financiere Richemont SA | CFR | Annual General Meeting | 07/09/2022 |
| The Foschini Group Limited | TFG | Annual General Meeting | 08/09/2022 |
| Industrials REIT | MLI | Annual General Meeting | 13/09/2022 |
| RMB Holdings Limited | RMH | Annual General Meeting | 20/09/2022 |
| Q2 2022 | Truffle Asset Management |
|---|---|
| No of resolutions | 486 |
| No of resolutions voted for | 449 |
| No of resolutions voted against | 37 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Dipula Income Fund Limited | DIA/DIB | Annual General Meeting | 07/04/2022 |
| Anglo American plc | AGL | Annual General Meeting | 19/04/2022 |
| Anheuser-Busch InBev | ANH | Special Meeting | 27/04/2022 |
| British American Tobacco PLC | BTI | Annual General Meeting | 28/04/2022 |
| Investec Limited | INL | Special Meeting | 28/04/2022 |
| NEPI Rockcastle plc | NRP | Special Meeting | 28/04/2022 |
| Glencore | GLN | Annual General Meeting | 28/04/2022 |
| Metair Investments Limited | MTA | Annual General Meeting | 05/05/2022 |
| NEPI Rockcastle plc | NRP | Annual General Meeting | 10/05/2022 |
| Quilter PLC | QLT | Annual General Meeting | 12/05/2022 |
| AngloGold Ashanti Limited | ANG | Annual General Meeting | 16/05/2022 |
| Sibanye Stillwater Limited | SSW | Annual General Meeting | 24/05/2022 |
| Thungela Resources Limited (Thungela) | TGA | Annual General Meeting | 24/05/2022 |
| EXXARO RESOURCES LIMITED | EXX | Annual General Meeting | 25/05/2022 |
| MTN GROUP LIMITED | MTN | Annual General Meeting | 25/05/2022 |
| Nedbank Group Limited | NED | Annual General Meeting | 27/05/2022 |
| Old Mutual Limited | OMU | Annual General Meeting | 27/05/2022 |
| Standard Bank Group Limited | SBK | Annual General Meeting | 31/05/2022 |
| Kumba Iron Ore Limited | KIO | Annual General Meeting | 31/05/2022 |
| Gold Fields Limited | GFI | Annual General Meeting | 01/06/2022 |
| Grindrod Limited | GND | Annual General Meeting | 03/06/2022 |
| Absa Group Limited | ABG | Annual General Meeting | 03/06/2022 |
| SA Corporate Real Estate Limited | SAC | Annual General Meeting | 06/06/2022 |
| Irongate Group | IAP | Annual General Meeting | 29/06/2022 |
| MAS P.L.C. | MSP | Annual General Meeting | 30/06/2022 |
| Nepi Rockcastle SA | NRP | Annual General Meeting | 30/06/2022 |
| Q1 2022 | Truffle Asset Management |
|---|---|
| No of resolutions | 163 |
| No of resolutions voted for | 156 |
| No of resolutions voted against | 7 |
| No of abstentions | 0 |
| No of Non-Voting | 0 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| BHP Group Ltd | BHP | Annual General Meeting | 20/01/2022 |
| Redefine Properties Limited | RDF | Special Meeting | 20/01/2022 |
| Vukile Property Fund Limited | VKE | Annual General Meeting | 31/01/2022 |
| Astral Foods Limited | ARL | Annual General Meeting | 03/02/2022 |
| Netcare Limited | NTC | Annual General Meeting | 04/02/2022 |
| Industrials REIT Ltd | MLI | Annual General Meeting | 09/02/2022 |
| Sappi Limited | SAP | Annual General Meeting | 09/02/2022 |
| Barloworld Limited | BAW | Annual General Meeting | 10/02/2022 |
| Reunert Limited | RLO | Annual General Meeting | 15/02/2022 |
| Redefine Properties Limited | RDF | Annual General Meeting | 17/02/2022 |
| Dipula Income Fund Limited | DIA | Annual General Meeting | 21/02/2022 |
| Schroder European Real Estate (SCP) | SCD | Annual General Meeting | 08/03/2022 |
| Hyprop Investments Limited | HYP | Special Meeting | 25/03/2022 |
| Q4 2021 | Truffle Asset Management |
|---|---|
| No of resolutions | 447 |
| No of resolutions voted for | 386 |
| No of resolutions voted against | 59 |
| No of abstentions | 0 |
| No of Non-Voting | 2 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Impala Platinum Holdings Limited | IMP | Annual General Meeting | 13/10/2021 |
| Liberty Holdings Limited | LBH | Annual General Meeting | 13/10/2021 |
| Northam Platinum Holdings Limited | NPH | Annual General Meeting | 29/10/2021 |
| Truworths International Limited | TRW | Annual General Meeting | 04/11/2021 |
| Italtile Limited | ITE | Annual General Meeting | 12/11/2021 |
| Growthpoint Properties Limited | GRT | Annual General Meeting | 16/11/2021 |
| Attacq Limited | ATT | Annual General Meeting | 18/11/2021 |
| KAP Industrials Holdings Limited | KAP | Annual General Meeting | 18/11/2021 |
| Sasol Limited | SOL | Annual General Meeting | 19/11/2021 |
| Woolworths Holdings Limited | WHL | Annual General Meeting | 24/11/2021 |
| Rand Merchant Investment Holdings Limited | RMI | Annual General Meeting | 24/11/2021 |
| Wilson Bayley Holmes - Ovcon Limited | WBO | Annual General Meeting | 24/11/2021 |
| Momentum Metropolitan Holdings Limited | MTM | Annual General Meeting | 25/11/2021 |
| Bid Corporation Limited | BID | Annual General Meeting | 25/11/2021 |
| Remgro Limited | REM | Annual General Meeting | 25/11/2021 |
| Hyprop Investments Limited | HYP | Annual General Meeting | 26/11/2021 |
| Cashbuild Limited | CSB | Annual General Meeting | 29/11/2021 |
| Fortress REIT Limited | FFA | Annual General Meeting | 30/11/2021 |
| FirstRand Limited | FSR | Annual General Meeting | 01/12/2021 |
| African Rainbow Minerals Limited | ARI | Annual General Meeting | 02/12/2021 |
| Aspen Pharmacare Holdings Limited | APN | Annual General Meeting | 09/12/2021 |
| Q3 2021 | Truffle Asset Management |
|---|---|
| No of resolutions | 320 |
| No of resolutions voted for | 260 |
| No of resolutions voted against | 55 |
| No of abstentions | 0 |
| No of Non-Voting | 5 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Prosus N.V | PRX | Annual General Meeting | 09/07/2021 |
| Imperial Logistics Limited | IPL | Annual General Meeting | 26/07/2021 |
| Equites Property Fund | EQU | Annual General Meeting | 27/07/2021 |
| Raubex Group Limited | RBX | Annual General Meeting | 30/07/2021 |
| Sirius Real Estate Limited | SRE | Annual General Meeting | 30/07/2021 |
| Afrimat Limited | AFT | Annual General Meeting | 04/08/2021 |
| Fortress REIT Limited | FFA/FFB | Annual General Meeting | 04/08/2021 |
| Investec Limited | INL | Annual General Meeting | 05/08/2021 |
| Nepi Rockcastle | NRP | Annual General Meeting | 18/08/2021 |
| Prosus N.V | PRX | Annual General Meeting | 24/08/2021 |
| Naspers Limited | NPN | Annual General Meeting | 25/08/2021 |
| Telkom SA SOC LTD | TKG | Annual General Meeting | 25/08/2021 |
| Reinet Investments S.C.A. | RNI | Annual General Meeting | 30/08/2021 |
| Vukile Property Fund Limited | VKE | Annual General Meeting | 31/08/2021 |
| Irongate Group | IAP | Annual General Meeting | 31/08/2021 |
| Stor-Age Property REIT Limited | SSS | Annual General Meeting | 09/09/2021 |
| Stenprop Limited | STP | Annual General Meeting | 10/09/2021 |
| RMB Holdings | RMH | Annual General Meeting | 15/09/2021 |
| Q2 2021 | Truffle Asset Management |
|---|---|
| No of resolutions | 417 |
| No of resolutions voted for | 359 |
| No of resolutions voted against | 52 |
| No of abstentions | 0 |
| No of Non-Voting | 6 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Anheuser-Busch InBev | ANH | Annual General Meeting | 28/04/2021 |
| British American Tobacco | BTI | Annual General Meeting | 28/04/2021 |
| Glencore Plc | GLN | Annual General Meeting | 29/04/2021 |
| AngloGold Ashanti | ANG | Annual General Meeting | 04/05/2021 |
| Anglo American plc | AGL | Annual General Meeting | 05/05/2021 |
| Metair Investments Limited | MTA | Annual General Meeting | 05/05/2021 |
| Gold Fields Limited | GFI | Annual General Meeting | 06/05/2021 |
| Capital and Counties Properties PLC | CCO | Annual General Meeting | 11/05/2021 |
| AECI | AFE | Annual General Meeting | 11/05/2021 |
| Liberty Holdings Limited | LBH | Annual General Meeting | 13/05/2021 |
| Astoria Investments | ARA | Annual General Meeting | 19/05/2021 |
| Old Mutual Limited | OMU | Annual General Meeting | 21/05/2021 |
| Sibanye-Stillwater | SSW | Annual General Meeting | 25/05/2021 |
| Grindrod Limited | GND | Annual General Meeting | 26/05/2021 |
| Standard Bank Group Limited | SBK | Annual General Meeting | 27/05/2021 |
| Exxaro Resources Limited | EXX | Annual General Meeting | 27/05/2021 |
| Capitec Bank Holdings Limited | CPI | Annual General Meeting | 28/05/2021 |
| MTN Group Limited | MTN | Annual General Meeting | 28/05/2021 |
| Absa Group Limited | ABG | Annual General Meeting | 03/06/2021 |
| Quilter Plc | QLT | Annual General Meeting | 17/06/2021 |
| Northam Platinum Limited | NHM | Annual General Meeting | 30/06/2021 |
| Q1 2021 | Truffle Asset Management |
|---|---|
| No of resolutions | 184 |
| No of resolutions voted for | 169 |
| No of resolutions voted against | 12 |
| No of abstentions | 0 |
| No of Non-Voting | 3 |
| Company Name | Share Code | Meeting Type | Meeting Date |
|---|---|---|---|
| Life Healthcare Group Holdings | LHC | Annual General Meeting | 27/01/2021 |
| RDI REIT PLC | RPL | Annual General Meeting | 28/01/2021 |
| Sappi Limited | SAP | Annual General Meeting | 02/02/2021 |
| Astral Foods Ltd | ARL | Annual General Meeting | 04/02/2021 |
| Netcare Ltd | NTC | Annual General Meeting | 04/02/2021 |
| Wilson Bayly Holmes-Ovcon Ltd | WBO | Annual General Meeting | 10/02/2021 |
| Dipula Income Fund Ltd | DIA | Annual General Meeting | 15/02/2021 |
| SPAR Group Ltd | SPP | Annual General Meeting | 04/02/2021 |
| Redefine Property Ltd | RDF | Annual General Meeting | 04/02/2021 |
| Pepkor Holdings Ltd | PPH | Annual General Meeting | 10/02/2021 |
