The UK Stewardship Code
The UK Stewardship Code (‘the Code’) is a voluntary code which is maintained by the Financial Reporting Council (FRC). The Code sets out a number of principles and guidance relating to engagement by institutional investors with UK listed companies and applies on a "comply or explain" basis.
Blakeney LLP (‘Blakeney’) is an independent partnership, 100% owned by its partners, dedicated to investing in early stage emerging markets in Africa and the Middle-East. We focus entirely on achieving absolute returns for our clients. Our investment style is consistently that of long-term value investing. We are often the largest foreign portfolio investor in many of the markets which we invest in.
The majority of our investments are listed on domestic stock exchanges in Africa and the Middle East with UK listed equities accounting for only a small proportion of our overall investment strategy. However, we aim to apply core stewardship principles in all markets whilst also being mindful and respectful of the governing laws in each individual jurisdiction in which we operate. Hence, our approach to engagement with specific issuers of securities and their management can vary on a case-by-case basis.
Below is a summary of how Blakeney implements the UK Stewardship Code.
Shareholder Rights Directive
Blakeney LLP is in the process of assessing whether it is appropriate for it to develop a shareholder engagement policy in accordance with COBS 2.2B, and, if so, the form and scope of such a policy. When that assessment has been made, this webpage will be updated accordingly.
Best Execution Disclosures
Blakeney is required under Regulatory Technical Standard 28 of the MiFID II Regulation (‘RTS28’) to publish annual reports which set out the quality of execution obtained by Blakeney on behalf of its clients for each class of financial instrument traded in the previous calendar year. Blakeney has set out below its qualitative report and quantitative report for each asset class which show the top five execution counterparties expressed as a percentage of Blakeney’s total execution volumes and executed orders in that specific asset class.
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