Oceanwood Capital Management LLP is regulated by the Financial Conduct Authority (“FCA”) as a Markets in Financial Instruments (“MiFID”)
firm and subject to the rules and requirements of the FCA's Prudential Sourcebook for MiFID Investments Firms (“MIFIDPRU”) handbook.
For the purposes of MIFIDPRU, the Firm has been classified as a small non-interconnected (“SNI”) firm.
The Firm has produced this Public Disclosure Document in line with the rules and requirements of MIFIDPRU 8, as applicable to SNI firms.
This Public Disclosure Document has been prepared based on the audited financials as of 12 July 2023, covering the financial period 01 April 2022 to 31 March 2023.
The Firm's main business activity during the covering period was to provide investment management services to a number of Alternative Investment Funds ("AIFs") and funds regulated under the Undertakings for the Collective Investment in Transferable Securities (“UCITS”) framework.
Oceanwood Capital Management LLP (“the Firm” or “LLP“) has adopted a remuneration policy and procedures that comply
with the requirements of chapter 19G of the FCA's Senior Management Arrangements, Systems and Controls Sourcebook (“SYSC”).
In accordance with MIFIDPRU 8.6.2, the LLP makes the following qualitative remuneration disclosures:
Oceanwood Capital Management LLP does not benefit from exceptional government intervention.
Oceanwood Capital Management LLP's Remuneration Policy sets out the criteria for setting fixed and variable remuneration. All remuneration paid to partners and staff members is clearly categories as either fixed or variable remuneration.
Fixed remuneration is based upon a partners/staff member's professional experience and organisational responsibility. It is permanent, pre-determined, non-discretionary, non-revocable and not dependent on performance.
Variable remuneration is based upon staff members performance or, in exceptional cases, other conditions.
Performance reflects the long-term performance of the staff member as well as performance in excess of the staff member's job description and terms of employment.
Total remuneration is based on balancing both financial and non-financial indicators together with the performance of the Firm and the staff member's business unit.
The Firm ensures that fixed and variable components of the total remuneration are appropriately balanced; and the fixed component represents a sufficiently high proportion of the total remuneration to enable the operation of a fully flexible policy on variable remuneration.
The Firm monitors fixed to variable compensation to ensure SYSC 19G is adhered to with respect to Total Remuneration.
As an SNI firm and in accordance with MIFIDPRU 8.6.8, Oceanwood Capital Management LLP is required to disclose the total amount of remuneration awarded to all partners, split into fixed and variable remuneration.
For the performance year ending 31 March 2023:
|Total fixed remuneration awarded||£433,234|
|Total variable remuneration awarded||£ - - - - - -|
|Total remuneration awarded||£433,234|
Under Rule 2.2.3R of the FCA's Conduct of Business Sourcebook, Oceanwood Capital Management LLP ( “Oceanwood”) is required to disclose the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with UK equity issuers. Investors that commit to the Code can either comply with it in full or choose not to comply with aspects of the Code, in which case they are required to explain their non-compliance.
Oceanwood employs a European-focused event-driven investment strategy which involves, among others, investments in equities, including UK equities. The Code is therefore relevant to only certain aspects of Oceanwood's investment process. While Oceanwood generally supports the objectives that underlie the Code, Oceanwood has chosen not to commit to the Code. Oceanwood invests in a variety of asset classes and in a variety of jurisdictions and its approach in relation to the engagement with issuers and their management will vary on a case by case basis. Therefore, Oceanwood does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction or asset class.
Oceanwood Capital Management LLP does not currently consider the principal adverse impacts of investment decisions on sustainability factors in accordance with Article 4 of the SFDR, as the detailed rules and guidance regarding such disclosure have not been finalised.
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The information on this site is issued by Oceanwood Capital Management LLP ("Oceanwood"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom and is an SEC Registered Investment Adviser. Registration with the United States Securities and Exchange Commission does not imply a certain level of skill or training. The information on this site is directed only at persons or entities in any jurisdiction or country where such access to information contained on this site and use of such information is not contrary to local law or regulation. Accordingly, all persons who access this site are required to inform themselves of and to comply with any such restrictions.
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