Proxy Advisory Intelligence
Automated voting recommendations for NZX-listed companies. Analyse AGM resolutions against configurable governance standards, generate pre-vote reports, and integrate via API.
How the Proxy Engine Works
Data Assembly
11 database tables queried in parallel: board composition, remuneration, auditor history, capital raises, financial metrics, and more.
Document RAG
885 embedded Notice of Meeting chunks searched via pgvector similarity. Explanatory notes and board recommendations extracted from 452 resolutions.
Rule Evaluation
34 rules across 8 categories evaluate each resolution. Each rule produces FOR, AGAINST, or REFER with severity scoring and reasoning.
Report Generation
Per-company proxy reports with overall assessment, per-resolution recommendations, and exportable PDF output.
34 Rules Across 8 Categories
Board independence, tenure, overboarding, gender diversity, attendance, election support
Pay quantum vs peers, STI proportion, rem dissent, disclosure quality, pay-for-failure
Auditor tenure, non-audit fee ratio, auditor change recency, Big Four switching
Dilution %, payout ratio, capital raise frequency, buyback patterns
Materiality thresholds, shareholder requisition protection
Transaction materiality relative to assets
Activist and special interest resolutions
Board size (optimal 5-12), committee structure
Plus 6 cross-cutting rules: GRS quality, activism detection, dissent patterns, document concerns, requisitioned resolutions, and special resolution flags.
Voting Policy Presets
Choose from 8 pre-configured voting policies or build your own with 21 configurable thresholds. Policies can be exported as JSON and shared across teams.
Governance Philosophies
Calibrated for the NZ market. Based on NZX Code, ISS NZ, and ACSI.
Lower tolerance for risk. Suitable for pension and KiwiSaver default funds.
Emphasis on diversity, climate disclosure, and stakeholder governance.
Trust the board approach. Minimal flags, defers to management.
NZ Fund Manager Policies
Institutional Shareholder Services NZ voting guidelines.
Based on published responsible investment voting policy.
Russell NZ-specific governance voting approach.
Vanguard Australia/NZ regional proxy voting guidelines.
Dashboard & Voting Tools
Per-Company Proxy Reports
Detailed voting recommendations for every resolution at each company's AGM. Reports show rule-by-rule analysis with severity, data points, and reasoning.
- FOR / AGAINST / REFER recommendations per resolution
- Overall meeting assessment summary
- Custom policy support via URL parameter
- PDF export for meeting preparation
Compliance Backtesting
Compare how different voting policies would have performed against historical resolutions. Interactive scatter plot shows the detection vs false positive trade-off.
- Pareto frontier visualisation
- Confusion matrix per preset
- Per-category breakdown with bars
- Side-by-side preset comparison
AGM Calendar
Track upcoming shareholder meetings across all NZX-listed companies. Calendar shows GRS scores, resolution counts, and direct proxy report links.
Dissent Tracker
Monitor failed resolutions, low-support directors, remuneration dissent, and shareholder activism across the NZX. Six analytical sections with historical trends.
API & Integration
Access proxy advisory data programmatically via REST API, MCP server, or the NZXplorer Copilot.
REST API
JSON proxy reports with custom policy support. PDF export endpoint available.
MCP Server
Use with Claude Desktop or Cursor. The get_proxy_report tool returns structured recommendations.
Copilot
Ask the NZXplorer Copilot natural-language questions about proxy advisory and governance.
Example API Response
{
"ticker": "AIR",
"companyName": "Air New Zealand",
"meetingDate": "2025-09-25",
"overallAssessment": {
"forCount": 5,
"againstCount": 1,
"referCount": 1,
"flagCount": 3
},
"recommendations": [
{
"resolutionTitle": "Re-election of Dame Therese Walsh",
"recommendation": "FOR",
"severity": "low",
"rules": [...]
}
]
}Upcoming Meetings
Data Sources & Methodology
Structured Data (11 Tables)
- Board composition & director appointments
- Executive compensation & director remuneration
- Auditor history & fee analysis
- Capital raises & dilution tracking
- Financial metrics & performance data
- GRS v2 governance risk scores
- Historical resolution votes (2023-2025)
Document Intelligence
- 452 resolution details extracted from Notice of Meetings
- 885 document chunks embedded via text-embedding-3-small
- pgvector similarity search with ticker/category filtering
- 10 concern categories scanned per resolution
- Board recommendations extracted (86.5% coverage)
Governance Standards Basis
NZX Corporate Governance Code (8 principles), ISS NZ Voting Guidelines (thresholds), ACSI Governance Guidelines (Australian reference), and NZXplorer GRS v2 methodology. All recommendations are algorithmic and should be reviewed by the voter.
Frequently Asked Questions
What is proxy advisory?
Proxy advisory services analyse AGM resolutions and provide voting recommendations (FOR, AGAINST, or REFER) to help shareholders make informed decisions. NZXplorer's automated proxy advisory uses 34 governance rules across 8 resolution categories.
How are voting recommendations generated?
Recommendations are generated by a rule engine that evaluates each resolution against governance standards. It analyses board composition, director tenure, remuneration quantum, auditor independence, capital management, and more. The engine uses both structured data and document RAG from Notice of Meeting PDFs.
Can I customise the voting policy?
Yes. NZXplorer offers 8 built-in policy presets (4 governance philosophies and 4 NZ fund manager policies) with 21 configurable thresholds. You can adjust thresholds via the Policy Editor, export policies as JSON, and share them with your team.
Is proxy advisory available via API?
Yes. The /api/v1/proxy-report/:ticker endpoint returns structured JSON voting recommendations. PDF export is also available. Both support custom voting policies via a base64-encoded policy parameter. See the developer documentation for details.
How does this compare to ISS and Glass Lewis?
ISS and Glass Lewis are global proxy advisors that cover NZX as part of their international offering. NZXplorer is purpose-built for the NZ market with NZX-specific governance rules, NZ Corporate Governance Code alignment, and local fund manager policy presets. The service is automated rather than analyst-driven, enabling broader coverage.
Data sourced from publicly available NZX filings, annual reports, and Notice of Meeting documents. Our datasets may not be complete. Automated analysis can produce errors. Scores are calculated using disclosed methodology and are analytical tools, not investment ratings or recommendations. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.