267694 EdinburghIT AR 2024 WEB - Flipbook - Page 90
88 / OTHER INFORMATION FOR SHAREHOLDERS / THE EDINBURGH INVESTMENT TRUST PLC
ALTERNATIVE INVESTMENT FUND
MANAGERS DIRECTIVE DISCLOSURE
ALTERNATIVE INVESTMENT FUND MANAGER AND
UK AIFM DIRECTIVE
UK AIFM DIRECTIVE (the UK AIFMD, the Directive)
The UK’s implementation of Directive 2011/61/EU of the
European Parliament and of the Council of 8 June 2011
on Alternative Investment Fund Managers, together with
Commission Delegated Regulation (EU) No. 231/2013
which forms part of UK law by virtue of the European
Union (Withdrawal) Act 2018, and any transposing
legislation incorporating the same into UK law (including,
but not limited to, the UK Alternative Investment Fund
Managers Regulations 2013 (SI 2013/1773), as amended by
The Alternative Investment Fund Managers (Amendment
etc.) (EU Exit) Regulations 2019), all as may be amended or
supplemented from time to time.
ALTERNATIVE INVESTMENT FUND MANAGER
(AIFM, the Manager, the Portfolio Manager)
The Company falls within the definition of an Alternative
Investment Fund (AIF) under the Directive and, as such, is
required to have (or be) an authorised AIFM. The Company
has appointed Liontrust Fund Partners LLP (Liontrust) as
AIFM. Liontrust is authorised and regulated by the FCA as a
full-scope AIFM.
The responsibility for the day-to-day investment management
activities of the Company has been delegated by AIFM to
Liontrust Investment Partners LLP.
Amongst other things, regulations implementing the
UK AIFMD require certain information to be provided
to prospective investors. This information can be
found in the Company’s page of the Manager’s website
(www.liontrust.co.uk) in a downloadable document titled
‘AIFMD Investor Information’. There has been no material
change to this document in the year.
Any information requiring immediate disclosure pursuant to
the Directive will be disclosed through a primary information
provider. In addition, the Directive requires information
in relation to the Company’s leverage (both ‘gross’ and
‘commitment’ – see the Glossary of Terms and Alternative
Performance Measures on page 85) and the remuneration of
the Company’s AIFM to be made available to investors.
Accordingly:
–
the leverage calculated for the Company at its year end
was 105% for gross and 109% for commitment (2023:
107% gross and 104% commitment). The limits the AIFM
has set for the Company remain unchanged at 250% and
200% respectively;
–
the AIFM summary remuneration policy is available from
the corporate policies page of the Manager’s website
(www.liontrust.co.uk) and from the Company’s company
secretary, on request (see contact details on page 83);
and – the AIFM remuneration paid for the year to 31
March 2024 is described below.
AIFM REMUNERATION
REMUNERATION POLICY
As AIFM, Liontrust Fund Partners LLP is required to
maintain a remuneration policy (the “Remuneration Policy”
or the “Policy”) that meets the requirements of the AIFM
Remuneration Code. The Policy governs the remuneration
of the AIFM’s key senior personnel, risk takers and control
functions (the “Code Staff”). The table below provides an
overview of the total remuneration paid to the staff of the
Management Company for the year ended 31 March 2024:
l Aggregate total remuneration paid by the Manager to its
staff (employees and members).
l Aggregate total remuneration paid by the Manager to all
relevant code staff.
