Under the Financial Conduct Authority’s (“FCA”) Conduct of Business Rules 2.2A.5, Monterone Partners LLP is required to make a public disclosure on its website in relation to the nature of its commitment to the Financial Reporting Council’s (“FRC”) Stewardship Code.
The Code was first published by the FRC in July 2010 and it was updated in 2012, 2020 and 2026.
The Code is a voluntary framework that promotes the responsible allocation, management and oversight of capital to create long term sustainable value for clients and beneficiaries. It aims to enhance the quality of engagement between investors and the entities in which they invest. The Code encourages investors to consider long-term risks and opportunities, including impacts on the economy, environment, and society on which beneficiaries’ interests depend. It is applied on an “apply and explain” basis and it outlines how asset owners and asset managers can protect and enhance the value of the investments entrusted to them.
The FRC recognises that there has been significant growth in investment in assets other than listed equity and capital is invested in a range of asset classes (e.g., fixed income, private equity, real estate, and infrastructure) over which investors have different terms and investment periods, rights and levels of influence. Hence the Code does not solely apply to equity investments.
The FRC also recognises that not all parts of the Code will be relevant to all institutional investors and that smaller institutions may judge some of the principles and guidance to be disproportionate. It is of course legitimate for some asset managers not to engage with companies, depending on their investment strategy.
The Code comprises six Principles that can be summarised as follows:
Whilst the revised Code covers a broader range of assets, the Firm does not consider it appropriate to commit to any particular voluntary code of practice and feels that the Code is not proportionate to the Firm’s business model. However, in practice, the Firm would take into consideration the principles as set out in the Code.
This Statement is reviewed annually and updated where necessary to reflect changes in circumstances and actual practice. Should the Firm’s position change we will review our commitment to the Code and make appropriate disclosure at that time.
Disclosure last updated: March 2026
For further information on the Firm’s approach contact: pchapple@monteronepartners.com
