About HCAM Investment Management UK
HCAM Investment Management UK Limited is a UK based Alternative Investment Manager (AIFM), serving its predominantly Limited Partnership clients since 2007. HCAM is a member of the RTC Group whose main office is in Bremen, Germany. With the implementation of the AIFM directive, HCAM has been an AIFM since 2014. The firm has since served as an authorised Alternative Investment Fund Manager for its Limited Partnership clients and as an investment manager for its CIS clients. HCAM provides LP solutions to clients by utilizing long-term relations with depositories, custodians, lawyers and bankers. HCAM Investment Management UK Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the UK under FRN 624184. The registered company number for HCAM Investment Management UK Limited is 09022825. HCAM Investment Management UK Limited is registered in the UK and the registered office is 141a New Road, Ascot, Berkshire, England, SL5 8QA.
Stewardship Code, SRDII
& Sustainability Risk Disclosure
Stewardship Code 2020
Under Rule 2.2.3R of the FCA‘s Conduct of Business Sourcebook, HCAM Investment Management UK Limited (“HCAM” or the “Firm“) 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 sets out a number of principles relating to engagement by asset managers or asset owners across all asset classes including, for example, listed equity, fixed income, private equity, infrastructure investment and in investments outside the UK.
The Shareholder Rights Directive
Whilst the Firm fully supports the general objectives that underlie the Code and observes high standards of corporate governance and due diligence in respect of its investments, upon consideration, it believes that the Principles are not currently applicable to its investment activities. The Firm will review this position annually and update this disclosure accordingly if the provisions of the Code become relevant.
The Shareholder Rights Directive II (“SRDII”)
The Directive took effect in June 2019 and falls under COBS 2.2B in the UK. It applies, broadly, to Portfolio Managers, UCITS Management Companies and Full Scope AIFMs. SRD requires Firms that invest in shares that trade on an UK/EU regulated market, in addition to ‘comparable’ markets outside the UK/EU, to develop and publicly disclose an engagement policy or publicly disclose a clear and reasoned explanation of why it has chosen not to comply with this requirement.
Given the similarity with the UK Stewardship Code, which is at present not deemed relevant to the type of activity undertaken by the Firm, it has been decided not to comply with SRD at the current time. However, this position is subject to annual review, in conjunction with the Stewardship Code, and any change to the current strategy of the Firm will be taken into account.
Sustainability Risk Disclosure
The EU Sustainable Finance Disclosure Regulation (“SFDR”) took effect on 10th March 2021. Currently, this regulation has not been onshored in the UK. However, certain UK Firms may fall within scope as a result of their activities or Group structure, or, may choose to opt-in to SFDR to demonstrate a commitment to green finance and sustainability. This requires them, under Art 3 of SFDR, to publish information on their websites about their sustainability risk policies.
At present, we have decided not to opt-in to SFDR and do not consider the adverse impacts of investment decisions on sustainability factors. Whilst we recognise the fundamental importance of transitioning to a low-carbon, more-sustainable resource-efficient economy, we do not currently offer products which promote environmental or social characteristics, nor do we offer products promoting sustainable investments. Our business is of a nature, scale and level of complexity that indicates that a comprehensive review of sustainability risks would not be proportionate or aligned to the types of products that we currently offer. We will review this position on an annual basis as we are mindful that Financial Services Industry has a part to play in “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate‐resilient development ”.