Lancaster Investment Management Stewardship Code

Under the Financial Conduct Authority’s (‘FCA’) Conduct of Business Rules 2.2A.5, Lancaster Investment Management LLP (‘Lancaster Investment Management’) is required to make a public disclosure on its website in relation to the nature of its commitment to the Financial Reporting Council’s (‘FRC’) Stewardship Code.

The Code applies on a ‘comply or explain’ basis and is voluntary, aiming to enhance the quality of engagement between institutional investors and companies, to help improve long-term returns to shareholders and provide for the efficient exercise of governance responsibilities by setting out good practice on engagement with investee companies that institutional investors should aspire to.

Whilst Lancaster Investment Management supports the objectives underlying the Code, and adheres to the highest standards of corporate governance and due diligence in respect of its investments, the Firm has chosen not to commit to the Code.

The Firm pursues a fundamental investment strategy across global equity markets with a core focus on Europe, including UK equities. A consistent global approach is taken to engagement with issuers and their management in all of the jurisdictions in which the Firm invests, as set out in our Responsible Investment Policy and Proxy Voting Policy, both of which are available on request. Consequently, the Firm does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction.

Should that change in the future, Lancaster Investment Management will review its commitment to the Code and update this disclosure accordingly. This disclosure will be reviewed at least annually.

For any questions regarding this disclosure, please contact us via the “Contact us” page of this website.