In Switzerland and internationally
Exercising voting rights is an essential tool for shareholders who wish to defend their long-term interests and positively influence the practices of publicly traded companies of which they are co-owners. It is also a legal obligation for Swiss pension funds and a central element of their fiduciary duty.
Ethos offers a proxy voting services for all companies in the SPI index (around 200 companies covered) as well as for the largest European, American and Asia-Pacific market capitalisations (more than 500 companies representing over 70% of the market capitalisation of the main developed equity benchmarks).
Ethos’ AGM analyses contain a detailed review of the items on the agenda, reasoned voting recommendations based on Ethos' corporate governance principles and voting guidelines, and a set of information on the company analysed, in particular concerning the composition of the board of directors and the remuneration of executive management.
For European companies, the primary analyses are carried out by a network of independent and experienced analysts who have been part of the ‘Ethos European Network’ since 2023. Voting recommendations are also based on Ethos' voting guidelines, which are reviewed and updated annually.
Ethos' analyses are sent to clients in principle 12 days before the AGM. A quarterly report summarising the highlights of the AGMs is also sent to them. In addition, Ethos publishes its voting recommendations on its website five days before the date of the AGMs of Swiss companies.
Focus on real estate
In 2025, it was decided to extend the coverage of the AGM analyses to the largest investment foundations active in real estate in Switzerland.
Pension funds are not legally obliged to exercise their voting rights within investment foundations. However, the Swiss law grants investors in investment foundations important and fundamental rights. As investors, pension funds play a very important role in promoting good governance within investment foundations and minimising the risks of malfunctioning. Investors who are sensitive to sustainability can also encourage investment foundations active in the real estate sector to improve the sustainability of their property portfolios.
It is in this context that Ethos has developed specific voting guidelines for investment foundations. The aim is to help investors in investment foundations exercise their rights independently and to provide them with systematic information based on a transparent framework. In addition, these guidelines aim to help the boards of investment foundations take best practices into account and benefit from an external and constructive view of their governance and transparency. This is all the more important given that these investment vehicles are not subject to the same rules as their listed counterparts.
Administrative assistance
Ethos offers institutional investors who have subscribed to its proxy voting service an administrative assistance in exercising their voting rights.
Private investors can also entrust Ethos with their voting rights for companies listed in Switzerland and included in the SPI index (with the exception of BKW and Evolva). Their votes will then be cast in accordance with the voting recommendations issued by Ethos. To do so, please proceed as follows:
- Tick the box "I give my proxy to the following shareholder" on the registration form;
- Complete the proxy form as follows: "Ethos Foundation, Place de Pont-Rouge 1, P.O. Box 1051, 1211 Geneva 26";
- Indicate on the registration form that the admission card for the Annual General Meeting is to be sent directly to the proxy;
- Return the duly signed form in the enclosed envelope to the company's share register office.
Ethos will then receive the admission card directly. For companies that send an order form for admission cards to the general meeting, the admission card must first be ordered and then, once received, indicated "Ethos" as the representative and sent duly signed to Ethos.
