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Stanhope Capital

PRI reporting framework 2020

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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.

Stanhope seeks to bring together the exceptional service standards and transparency expected of a private investment office with the depth of investment expertise typically associated with major financial institutions. We operate under the three pillars of objectivity, alignment and intelligence:

Objectivity - We seek out the most appropriate investment solutions for our clients' portfolios, protected from undue conflicts of interest. We implement tailored portfolios with the objective of selecting the best funds wherever they may be

Alignment - The assets of Stanhope's partners and employees, the founding families, and the clients are managed side by side

Intelligence - our investment team is led by professionals with extensive experience of managing equity, bond, hedge fund and private assets portfolios

Stanhope endeavours to operate in a socially and environmentally responsible manner and, on the investment front, is committed to allocating clients' capital responsibly, ensuring that all relevant factors are accounted for when assessing risk and return, including incorporation of ESG factors. Stanhope is keen to engage with clients regarding their approach to responsible investment and works with clients to identify the best strategy to meet their non-financial targets as well as their financial ones. 

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]

Responsible investing on behalf of clients may require Stanhope to: 

  • Exclude or set limits on certain investments
  • Appoint managers that have met a threshold responsbility requirement
  • Seek out investments that have a positive social or environmental impact

We also seek to engage with managers to encourage a responsible investment approach and seek to inform clients and potential clients of our efforts in this area. 

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk

01.6 CC. Indicate whether your organisation has identified transition and physical climate-related risks and opportunities and factored this into the investment strategies and products, within the organisation’s investment time horizon.

Describe the identified transition and physical climate-related risks and opportunities and how they have been factored into the investment strategies/products.

As a firm we are increasingly becoming aware of physical climate-related risks and opportunities. We are considering how these may impact our currently approved strategies and products, in conjunction with our underlying managers, and have specifically sought out investments which seek to benefit from this theme directly. 

01.7 CC. Indicate whether the organisation has assessed the likelihood and impact of these climate risks?

Describe why your organisation has not yet assessed the likelihood and impact of climate risks

We do not think it is fair to say we "assess" the likelihood and impact of climate risks, instead preferring to take information from respected sources such as the UN. Broadly, we consider effects of climate change are highly likely to have a material impact on the investment landscape in the coming decades. 

01.8 CC. Indicate whether the organisation publicly supports the TCFD?

01.9 CC. Indicate whether there is an organisation-wide strategy in place to identify and manage material climate-related risks and opportunities.

Describe how and over what time frame the organisation will implement an organisation-wide strategy that manages climate-related risks and opportunities.

We plan to consider this in 2020. 

1.10 CC. Indicate the documents and/or communications the organisation uses to publish TCFD disclosures.


SG 02. Publicly available RI policy or guidance documents

 

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

URL/Attachment

URL/Attachment

URL/Attachment

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

URL/Attachment

URL/Attachment

URL/Attachment

02.3. Additional information [Optional].

Our Responsible Investment Policy is available upon request. During the course of 2020, we plan to incorporate this within a holistic Stanhope Investment Policy. 


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.

We carry out our business to ensure, as far as possible, that we manage our clients’ interests in a conflict-free environment. To this end, we operate the following policies: 

  • The firm does not undertake any proprietary trading
  • No employee may carry out any PA dealing which could create a conflict of interest (CoI) with any client; PA dealing is subject to pre-approval by the Compliance Officer
  • No employees are permitted to accept gifts or entertainment without specific permission from L&C
  • All retrocessions received from managers will be passed on wholly for the benefit of the relevant clients
  • The firm does not accept any non-monetary benefits
  • The firm adheres to an allocation policy to promote fair allocation across client accounts
  • When we provide corporate finance advice to clients, a watchlist and restricted list of associated companies is maintained by the Compliance Officer. Restricted list companies are uninvestable; watchlist companies require Compliance Officer permission pre-investment
  • The firm operates an informational barrier between the corporate finance team and the investment advisors
  • Where CoI arise, these must be disclosed to the client in writing, and permission given by the client before action is taken

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within investee entities.

04.2. Describe your process on managing incidents

Our investments are primarily made through funds. Where we become aware of incidents within companies held by approved funds we contact the managers, as soon as is practicable, asking for their view. We note that they may not provide a comment, particularly if planning to trade on the information. 


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