Regulatory and Legal Notices
This material has been issued by Timberland Investment Resources Europe LLP (TIR) which is authorised and regulated by the Financial Conduct Authority. Our Registered office address is 130 Jermyn Street, London SW1Y 4UR.
This material is provided for information purposes, is intended for your use only and does not constitute an invitation or offer to subscribe for or purchase any of the products or services mentioned. This material is approved by TIR for the use of professional clients or eligible counterparties or to persons who meet the exemptions and no other person who receives the material should rely on it.
Potential investors should note that investments can involve significant risks and the value of an investment may go down as well as up. No assurance can be given that the investment objective of any product will be achieved or that substantial losses will not be suffered. Potential investors should read the terms and conditions contained in the relevant Information Memorandum carefully before any investment decision is made. There is no guarantee of trading performance and past or projected performance is not a guide to future results.”
Information and opinions presented in this material have been obtained or derived from sources believed by TIR to be reliable, but we make no representation as to their accuracy or completeness.
This material should not to be relied upon as investment, legal, tax, or financial advice. Readers should consult with their own independent professional advisors as to the legal, tax, financial or other matters relevant to the suitability of an investment based on information contained in this material.
Past performance is not necessarily a guide to future performance and an investor may not get back the amount originally invested.
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UK Stewardship Code
The UK Stewardship Code was published in July 2010 by the Financial Reporting Council (‘FRC’), the UK’s independent regulator responsible for promoting high quality corporate governance and reporting to encourage investment. The Code aims to enhance the quality of engagement between institutional investors and companies to help improve long-term returns to shareholders and the efficient exercise of governance responsibilities. It sets out good practice on engagement with investee companies and is to be applied by firms on a “comply or explain” basis.
The FRC recognises that not all parts of the Code will be relevant to all institutional investors and that smaller institutions may judge some of the principles and guidance to be disproportionate. It is of course legitimate for some asset managers not to engage with companies, depending on their investment strategy, and in such cases, firms are required to explain why it is not appropriate to comply with a particular principle.
The seven principles of the Code are that institutional investors should:
- Publicly disclose their policy on how they will discharge their stewardship responsibilities;
- Have a publicly disclosed, robust policy on managing conflicts of interest in relation to stewardship;
- Monitor their investee companies;
- Establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value;
- Be willing to act collectively with other investors where appropriate;
- Have a clear policy on voting and disclosure of voting activity; and
- Report periodically on their stewardship and voting activities.
Timberland Investment Resources Europe LLP does not currently comply with the Code because its investment focus involves direct investmentin the natural resource of forestry, and as such, it does not currently invest in UK listed companies. Therefore, although the firm supports the objectives set out within the Code, the provisions are not deemed to be relevant to the type of investment strategy currently undertaken by the firm. Should any material changes occur to our strategies which would make the Code relevant, we will review our commitment to the Code at that time and make appropriate disclosure.