Starting on April 3rd, as part of a new Neuberger Berman initiative, NB25+, we began to publish our vote intentions in advance for key votes. We have committed to do so for at least 25 votes this proxy season.

By explaining the firm's voting rationale and intention we are aiming to protect our clients’ best interests, fulfill our fiduciary responsibility, promote transparency and accountability, and exceed regulatory requirements. Barron’s recently covered this initiative. The initiative has also been featured in other publications including Pensions & Investments.

At this moment, we are all rightly focused on the global health crisis and the protection of the most vulnerable among us. But, as we peer over the horizon, we believe governance and sustainability practices will increasingly matter and can directly impact both long-term performance and resilience in future crises. To that end, we will change our practices and be the first major asset management firm to provide advance this proxy vote disclosure.