UK Stewardship Code

The UK Stewardship Code (the “Code”) was published in July 2010 and updated in September 2012. The Financial Reporting Council oversees the Code, which sets out good practice for shareholders on engagement with investee companies that have shares listed in the UK.

The Code applies on a ‘comply or explain’ basis. Although the firm broadly supports the objectives of the Code, the firm has determined that it will not commit to the Code’s principles because the investment strategies it employs do not generally involve listed equities. In the event of a material change to any investment strategy such that the Code’s principles become relevant, the firm will reconsider its commitment to the Code.