The Board believes that it is in Shareholders’ best interests to consider environmental, social and governance (“ESG”) factors when selecting and retaining investments and has instructed the Investment Manager to take these issues into account. 

In its Responsible Engagement & Investment Policy, the Investment Manager states that its evaluation of ESG factors is an inherent part of the investment process. These factors include, but are not limited to: “corporate strategy, operating performance, competitive positioning, governance, environmental factors (including climate change), social factors, remuneration, reputation and litigation risks, deployment of capital, regulation and any other risks or issues facing the business”. Click here to read more.

The Board has delegated authority to the Investment Manager to vote the shares owned by the Company that are held on its behalf by its Custodian. The Board has instructed that the Investment Manager submit votes for such shares wherever possible and practicable. The Investment Manager is required to refer to the Board on any matters of a contentious nature. Click here to read the Investment Manager’s Proxy Voting Policy.

The Investment Manager is a Tier 1 signatory of the existing 2012 UK Stewardship Code and has submitted a Stewardship Report to the Financial Reporting Council to become a signatory of the 2020 UK Stewardship Code. Click here to read the Investment Manager’s 2020 Stewardship Report. 

The Managers’ Responsible Investment and Engagement Policy has been reviewed and endorsed by the Board. The Investment Manager is a signatory to the United Nations Principles for Responsible Investment. The Company considers that it does not fall within the scope of the Modern Slavery Act 2015 (‘Act’) and it is not, therefore, obliged to make a slavery and human trafficking statement. In any event, the Company considers its supply chains to be of low risk as its suppliers are typically professional advisers. 

The Company also complies with the AIC Code of Corporate Governance and has policies in place regarding Board diversity, integrity and business ethics.