UK Stewardship Code

Under Rule 2.2.3R of the FCA's Conduct of Business Sourcebook, Elan Capital Management (London) Ltd (the "Firm", “we” or “our”) is required to include on this website a disclosure about the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code published in 2020 is a voluntary framework designed to promote stewardship through responsible allocation, management, and oversight of capital to create long-term value for clients and beneficiaries, leading to sustainable benefits for the economy, the environment, and society. Initially focused on listed equities, the Code has evolved to encompass a broader range of instruments, including fixed income, real estate, and infrastructure.

While we support the general objectives that underlie the Code, we have chosen not to commit to the Code at this time. We provide investment management services to an alternative investment fund which pursues a fixed income relative value investment strategy. This strategy focuses on trading and investing in global liquid sovereign bonds and related securities. These instruments are selected for their deep, mature and liquid markets, which are not typically conducive to traditional stewardship activities such as direct engagement or proxy voting. Sovereign bonds and related securities generally lack mechanisms for investor engagement or influence over the issuing entities. Consequently, many stewardship principles, such as influencing governance practices or holding issuers to account, are not applicable to this asset class. We have an ESG policy which sets out our approach to integrating ESG factors within our own business operations as well as within our investment portfolio. We ensure the Firm is complying with industry standards and investor expectations for funds of our nature. We take a consistent approach to stewardship considerations in all of the jurisdictions in which we invest and, consequently, does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction.

For further information on the Firm’s approach contact:
info@elan-cap.com