Arena Wealth Management Limited (“Arena Wealth” or the “Firm”) fully supports the UK Stewardship Code (the “Code”) which sets out good practice for institutional investors and investment managers when engaging with the UK listed companies in which they invest, and is intended to enhance this relationship. In line with the rule set out in the Financial Conduct Authority's Handbook at COBS2.2.3R and the Financial Reporting Council’s guidance this Stewardship Code Statement explains how Arena Wealth applies or dis-applies the Stewardship Code’s seven Principles set out below. Arena Wealth provides investment management services which may result in investment in UK listed companies. In these instances the Firm follows the Principles of the Stewardship Code as set out below:
Principle 1 - Institutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities.
Arena Wealth does not have a formal policy in regards to intervening or affecting voting on equities of underlying companies but will take instruction from its clients on a case by case basis. Currently, the Firm’s approach to voting is to support the current management of the entity invested in rather than abstaining.
Principle 2 - Institutional investors should have a robust policy on managing conflicts of interest in relation to stewardship and this policy should be publicly disclosed.
Arena Wealth is an independent investment business and so there is a low risk of conflict of interest. In the event that a potential conflict of interest is identified the Board of Directors of the Firm will meet and the Firm will consult with the particular client.
Principle 3 - Institutional investors should monitor their investee companies.
Arena Wealth undertakes research and monitors the companies that it investments in on behalf of its clients.
Principle 4 - Institutional investors should establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value.
Arena Wealth will consult with its clients on a case by case basis on how best to protect and enhance shareholder value.
Principle 5 - Institutional investors should be willing to act collectively with other investors where appropriate.
Arena Wealth will consult with its clients on a case by case basis on whether collaboration with other investors is required.
Principle 6 - Institutional investors should have a clear policy on voting and disclosure of voting activity.
Arena Wealth’s policy is to receive its clients’ instructions on or consult with its clients on exercising voting rights.
Principle 7 - Institutional investors should report periodically on their stewardship and voting activities.
Arena Wealth receives its clients’ requests regarding reporting and consults with its clients on an ongoing basis.