The Edinburgh Investment Trust Plc Annual Financial Report 2022 - Flipbook - Page 88
86 / OTHER INFORMATION FOR SHAREHOLDERS / THE EDINBURGH INVESTMENT TRUST PLC
Alternative Investment Fund
Managers Directive Disclosure
ALTERNATIVE INVESTMENT FUND MANAGER (AIFM)
AND THE ALTERNATIVE INVESTMENT FUND MANAGERS
DIRECTIVE (THE ‘AIFMD’, THE DIRECTIVE)
The Company falls within the definition of an Alternative
Investment Fund (AIF) under the Directive and, as such, is required
to have (or be) an authorised AIFM. Majedie Asset Management
Limited (Majedie) was appointed AIFM by the Company with
effect 4 March 2020. On 1 April 2022 the Company appointed
Liontrust Fund Partners LLP (Liontrust) as AIFM following the
acquisition of Majedie Asset Management Ltd by Liontrust Asset
Management PLC. Majedie and Liontrust are authorised and
regulated by the FCA as a full-scope AIFMs.
Amongst other things, regulations implementing AIFMD require
certain information to be provided to prospective investors. This
information can be found in the Company’s page of the Manager’s
website (www.liontrust.co.uk) in a downloadable document
entitled ‘AIFMD Investor Information’. There has been no material
change to this document in the year except that relating to the
change in Manager from Majedie to Liontrust.
Any information requiring immediate disclosure pursuant to the
Directive will be disclosed through a primary information provider.
In addition, the Directive requires information in relation to the
Company’s leverage (both ‘gross’ and ‘commitment’ – see the
Glossary of Terms and Alternative Performance Measures on
pages 83 to 85) and the remuneration of the Company’s AIFM to
be made available to investors.
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Accordingly:
– the leverage calculated for the Company at its year end was
110% for gross and 104% for commitment (2021: 107% gross
and 106% commitment). The limits the AIFM has set for the
Company remain unchanged at 250% and 200% respectively;
– the AIFM summary remuneration policy is available from the
corporate policies page of the Manager’s website
(www.liontrust.co.uk) and from the Company’s company
secretary, on request (see contact details on page 82); and
– the AIFM remuneration paid for the year to 31 March 2022 is
described below.
AIFM REMUNERATION
Majedie was the AIFM for the financial year of the Company to
31 March 2022. No remuneration was paid to Liontrust employees
with regards the Company. Majedie’s Pillar 3 Disclosure sets out
the remuneration policies and practices that were in place during
the period and summarises the remuneration to its employees
and AIFM Remuneration Code staff in its most recent financial
year. A copy is available from the Company’s company secretary
on request.
The Remuneration Policy of the Manager is available at
www.liontrust.co.uk.