Our approach
Vanguard’s Investment Stewardship program is carried out by a global team of experienced corporate governance professionals.
Investment Stewardship Insights
We share our perspectives on corporate governance practices we associate with long-term investment returns for Vanguard-advised funds as well as illustrative examples of how the funds’ proxy voting policies are applied in practice.
Reports and policies
We provide regular disclosure of our Investment Stewardship program and proxy voting policies and outcomes to help our investors, portfolio companies, regulators, and other key stakeholders understand the activities we conduct on behalf of the Vanguard-advised funds.
How the funds voted
Vanguard discloses proxy votes cast on behalf of all of the Vanguard funds at company shareholder meetings to keep fund investors, regulators, and other stakeholders well-informed, as well as to comply with applicable regulations.
(1) Vanguard’s Investment Stewardship program is responsible for administering proxy voting and engagement activities pursuant to the Vanguard-Advised Funds Policy for the quantitative and index equity portfolios advised by Vanguard (together, “Vanguard-advised funds”). This publication describes the proxy voting and engagement activities conducted by Vanguard’s Investment Stewardship program pursuant to the Vanguard-Advised Funds Policy; it does not include (a) votes cast on behalf of investors who, through Vanguard’s Investor Choice program, chose to have their proportionate portfolio holdings in certain index funds voted in accordance with a policy other than the Vanguard-Advised Funds Policy, or (b) proxy voting and engagement activities for externally managed funds conducted by their respective third-party investment advisors. Throughout this document, “we” refers to Vanguard’s Investment Stewardship program and “the funds” refers to Vanguard-advised fund shares voted pursuant to the Vanguard-Advised Funds Policy.