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Cheyne Capital Management (UK) LLP

PRI reporting framework 2019

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Cheyne’s investment strategy is to identify targeted investment opportunities where it believes its fundamental approach can deliver a sustainable, attractive risk reward to investors. Our ethos is that ESG considerations are an integral part of the research process and central to the profitabilty and sustainability of the investments we make and that failure to take into account ESG considerations within our investment analysis leads to insufficient risk assessment.

In the context of liquid securities we seek to invest in companies that exhibit a commitment to ESG aspects which in return offers the issuer a lower cost of capital thereby promoting their growth.

For private investments, Cheyne has a direct ability to apply ESG considerations by embedding specific covenants into funding agreements and specifying how proceeds are deployed. This has a direct, visible impact on the real economy.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Cheyne adopted its ESG investment policy in 2017 and the policy is reviewed annually.

Cheyne's ESG investment policy defines the approach to integrating the consideration of environmental, social, and governance (ESG) factors and potential benefits into investments made through its Social Property, Real Estate financing, European Strategic Value Credit and Investment Grade Corporate Credit Funds. Cheyne commits to consider material ESG issues in the course of its investment process and ongoing monitoring of relevant investments.   “Material” ESG issues are issues that Cheyne determines have, or potentially have, a direct impact on the operation or value of an investment. 

Cheyne’s investment staff are primarily responsible for ensuring that the consideration of ESG issues are integrated into investment decisions as above. 

Stuart Fiertz, Cheyne Co-Founder, President and Director of Research, will supervise the execution of the Policy.

01.6. Additional information [Optional].

          
        
I confirm I have read and understood the Accountability tab for SG 01 I confirm I have read and understood the Accountability tab for SG 01

SG 01 CC. Climate risk (Not Applicable)


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Cheyne operates a tailored approach to prevent and identify conflicts of interest via a number of controls, including staff training and procedural reviews to ensure that any conflicts are identified and disclosed, as required.

We include any relevant conflict disclosures within each fund prospectus.

Cheyne keeps a record of all conflicts that arise or may arise in the course of carrying out services for a client.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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