Disclosures
CT&A Qualifications and Business Practices, Form ADV
Form ADV is the uniform form used by investment advisers to register with both the Securities and Exchange Commission (SEC) and state securities authorities.
Client Privacy Statement
The relationship between Chesley, Taft & Associates, LLC and our clients is the most important asset of our firm. We strive to maintain your trust and confidence in our firm, an essential aspect of which is our commitment to protect your personal information to the best of our ability.
Proxy Voting Policies and Procedures
Chesley, Taft & Associates, LLC has developed these policies and procedures to govern the voting of proxies on behalf of our clients.
Each client determines whether he or she will delegate proxy voting authority to CTA. When we accept proxy voting authority, we acknowledge that we have a fiduciary duty to vote proxies in the best interest of our clients.
Generally, we purchase securities based on the belief that management will maximize shareholder value. When we no longer believe management is meeting this goal, we typically sell the security. Therefore, as to most questions coming before shareholders, we vote in accordance with management’s recommendations. There will be circumstances when we neither believe disposing of the security nor voting in accordance with management’s recommendation will be in the best interest of our clients. In those cases, we will vote against management’s recommendation. Each proxy is voted on a case by case basis. There may even be cases where we determine that the best course of action is to refrain from voting a proxy.
It is possible that a conflict of interest could arise regarding the voting of a particular proxy. In that case, we remove the conflicted portfolio manager from the decision-making process. We will make a written record of such instances.
Clients can direct our vote in a particular situation. We will vote their shares according to their direction as long as they notify us in writing with sufficient time for us to coordinate with the respective custodian to adjust the necessary records.
Clients may obtain information on how their proxies were voted by contacting us. We will maintain these records for the time periods designated by applicable SEC regulations.
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