Momentum Global Investment Management (“MGIM”) offers multi-manager investment solutions via European UCITS funds, Luxembourg SICAV-SIFs and Guernsey Incorporated Cell Companies.
The Financial Reporting Council has produced a Stewardship Code which aims to foster “the responsible allocation and management of capital across the institutional investment community, to create sustainable value for beneficiaries, the economy and society”.
Momentum Global Investment Management (“MGIM”) forms part of Momentum Metropolitan Holdings Limited (MMH) a South African based financial services group that is listed on the Johannesburg Stock Exchange. MGIM offers multi-manager investment solutions via European UCITS funds, Luxembourg SICAV-SIFs and Guernsey Incorporated Cell Companies. It also provides advisory services to institutional clients. MGIM is committed to responsible ownership of assets and stewardship, no matter how capital is invested. However, the requirements of the Stewardship Code are not directly applicable to MGIM, due to the nature of the multi-manager investment approach.
The Code references environmental, social and governance (ESG) factors and incorporates the requirements of the EU Shareholder Rights Directive II (as transposed into UK law). MMH is a signatory to the UN Principles for Responsible Investment (UNPRI), and therefore incorporates responsible investment considerations into our investment process.
As a result of its investment approach, MGIM does not research or directly invest in asset classes covered by the Stewardship Code. MGIM researches the investment styles and performance of other fund managers, and purchases shares or units in their collective investment schemes to construct bespoke portfolios for clients. This investment approach is referred to as “multi-manager” within the financial industry.
As well as investing in funds, MGIM identifies and selects sub-investment managers which it employs to manage segregated portfolios, as a component within our funds. The Investment Management Agreement between the parties stipulates that the sub-investment manager must disclose all voting to MGIM, and vote in what it believes to be the best interests of the portfolio. MGIM reserves the right to instruct the sub-investment manager to vote for the preference it necessitates.