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Talaria Asset Management

PRI reporting framework 2019

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。


01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

Our investment philosophy is based on the fact that the volatility of corporate cash flows is far lower than the volatility of share prices. We seek to own stocks offering fundamental value through a disciplined investment strategy and differentiated implementation process.

We invest in equities, entering and exiting stock positions by selling options which provides both income and a buffer against loss. 
On a stand-alone basis, equities and equity options present different strengths and weaknesses. The high, long-term return profile of equities is well appreciated, however the weakness embedded in equities’ return profile is the non-linear, or inconsistent path of delivery. Hence a return profile that reduces volatility should lead to greater compounding of wealth over the long term.

We are a long-term investor and are interested in long-term drivers of economic value for businesses.  We believe there are environmental, social and corporate governance (ESG) related externalities/factors that are not captured in short-term financials and that these may be material in a positive or negative way.  An understanding and management of these factors affecting long-term corporate sustainability is critical to assessing the risks associated with investing in a company, and should therefore be incorporated into fundamental equity research.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

01.6. 補足情報 [任意]

下記を読み理解しました 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 (Not Completed)

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

Our Conflict of Interest policy is based on:


The potential for conflicts of interest is minimised as our business is structured in a way that the goals of Wingate and its clients are in alignment.

All clients are treated equally and purchases and sales are carried out on a pro-rata basis. If pro-rata distributions are not possible, it is our policy that related accounts receive less favourable treatment than nonrelated accounts.


All employees must be alert to conflicts of interest, which may arise from:

- Remuneration, fees, or any other pecuniary or non-pecuniary benefits (including, but not limited to soft dollar benefits) 

- The use of non-public information.

- Personal interests which are inconsistent with those of Wingate and/or its clients interests. 

- Competing interests of different client groups, or individual clients.


The policy stipulates that we make adequate disclosure in enough detail to allow clients to make an informed decision about how the conflict may affect the service being provided to them, before making an investment decision.

Monitoring and Audit

We have in place monitoring and auditing arrangements to ensure that any non-compliance with these conflict management arrangements are identified and appropriately acted upon.

03.3. 補足情報 [任意]

We have in place a more detailed policy on managing potential conflicts of interest and are happy to share this document with clients.

SG 04. Identifying incidents occurring within portfolios (Private)