Statement of Investment Principals 30 September 2019 - Flipbook - Page 9
The Trustee maintains a separate conflicts of interest policy and register.
The Investment Managers are primarily remunerated based on an agreed fixed annual
percentage of the asset value for each underlying fund.
Subject to reasonable levels of materiality, these documents record any actual or potential
conflicts of interest in relation to investee companies or the Investment Managers, while
also setting out a process for their management.
The Trustee does not directly incentivise the Investment Managers to align the approach
they adopt for a particular fund with the Trustee’s policies and objectives. Instead, the
Investment Managers and the funds are selected so that, in aggregate, the returns
produced are expected to meet the Trustee’s objectives.
Neither does the Trustee directly incentivise the Investment Managers to make decisions
about the medium to long-term performance of an issuer of debt or equity, or to engage
with those issues to improve their performance. The Trustee expects such assessment of
performance and engagement to be undertaken as appropriate and necessary to meet the
investment objectives of the funds used by the Scheme.