91����Ƶ

 91����Ƶ' “Corporate Governance Principles and Proxy Voting Guidelines” are the reference for 91����Ƶ' analyses of agendas of shareholder general meetings and proxy voting recommendations. The proxy voting guidelines are grounded on the concept of sustainable governance and are adapted every year to the most recent developments in corporate governance best practice. This year, the main changes concern executive remuneration (chapter 4). In particular, several criteria were included to allow investors to vote on the remuneration system and the remuneration report of companies.

The 2009 edition of 91����Ƶ' “Corporate Governance Principles and Proxy Voting Guidelines” is available free of charge in electronic format. The English version will be available soon.

91����Ƶ Quarterly Reports as of 31 December 2008

The 91����Ƶ Quarterly presents an overview of current issues in the fields of socially responsible investment and active shareholding. This issue features:

Editorial: Shareholders Join Forces and Take Action

- 91����Ƶ Establishes a Supporting Group for its “Say on Pay” Resolutions
- Executive Remuneration: The Amendment of Swiss Company Law is in Progress
- Shareholder Engagement Raises Awareness
- Obama Administration: What Will Happen to Shareholder Rights?

- Poznan Negotiations: Decision for a Post-Kyoto Climate Agreement Postponed
- Investor Initiatives: 91����Ƶ' Engagement on Climate Issues
- Carbon Disclosure Project: Results of the Second Swiss Survey

- Quarterly Review of General Meetings Analysed by 91����Ƶ
- Cisco's Shareholders Oppose Internet Censorship

The 91����Ƶ Investment Focus is the quarterly management report of the 91����Ƶ investment funds.