Effective Date: July 2022
Monterone Partners LLP (the “Firm”) is authorised and regulated by the Financial Conduct Authority (the “FCA”). The Firm is a UK domiciled discretionary investment manager to professional clients and unregulated collective investment schemes. The Firm is a full scope Alternative Investment Fund Manager ("AIFM") and categorised as a collective portfolio management investment firm by the FCA for capital purposes. The Firm reports on a solo basis. With respect to the period 1 April 2021 to 31 March 2022, the Firm is required to publish a remuneration disclosure as per BIPRU 11.5.18R to 11.5.20R.
Given the nature and small size of our business, remuneration for all employees is set by the Management Committee of the Firm. The Firm formally reviews the performance of all employees and based thereon determines each employee’s overall level of remuneration and the split of that between base salary, bonus, etc. in compliance with the FCA Rules on remuneration.
Given that the Firm has only one business area, investment management, all remuneration disclosed in our audited financial statements is from this business area.
The Firm has defined “Code Staff” to be the Firm’s current FCA Senior Managers. The aggregate level of remuneration earned by the staff is disclosed in our audited financial statements.
We may omit required quantitative disclosures in relation to remuneration where we believe that the information could be regarded as prejudicial to our adherence to the UK’s data protection legislative framework which comprises the ‘UK General Data Protection Regulations’ and the Data Protection Act 2018 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
Due to the size of the Firm and limited number of “Code Staff”, quantitative disclosures in relation to remuneration have not been included.
There is also a requirement for a remuneration statement to form part of the annual report of any Alternative Investment Fund ("AIF") to which the Firm acts as AIFM and which is either domiciled in the European Economic Area ("EEA") or marketed in the EEA.
The Firm is subject to the AIFMD Remuneration Code ("the Code"), has applied proportionality and, pursuant to this application and where relevant, has disapplied various provisions of the Code.