Handelsbanken Wealth & Asset Management Limited is part of the Handelsbanken Group. Handelsbanken Wealth is a trading name of Handelsbanken Wealth & Asset Management Limited.
The UK Stewardship Code
The UK Stewardship Code (the "Code") is published by the Financial Reporting Council (FRC), the UK body responsible for promoting high quality corporate governance. The Code sets out good practice standards for institutional investors, such as investment managers, for their dealings with the UK-listed companies in which they invest.
The FRC recognises that not all parts of the Code are relevant to all institutional investors and that small institutions (such as Handelsbanken Wealth) may judge that some aspects are disproportionate to their business.
Please click here to view Handelsbanken Wealth’s Stewardship Disclosure
Shareholder Rights Directive II
The revised Shareholder Rights Directive (“SRD II”) requires asset managers to adopt an engagement policy on a “comply or explain” basis. The engagement policy should describe how an asset manager integrates shareholder engagement into its investment strategy when it or its funds under management are shareholders in companies that have a registered office in the EU and are listed on EU regulated markets.
Holding significant direct equity positions in publicly listed individual companies does not currently form part of Handelsbanken Wealth’s core investment strategy. There may be occasions when we do invest in shares of companies traded on a regulated market; however, the size of Handelsbanken Wealth’s shareholding is typically much lower than those held by large institutional investors and, therefore, we are not able to engage with investee companies to the extent envisaged by SRD II. On this basis, while Handelsbanken Wealth supports the aims of SRD II, we have determined that it is not necessary or appropriate to adopt an engagement policy for the purposes of SRD II. We shall review our investment strategy annually to determine whether our investment activities have changed to the extent that we should adopt an engagement policy under SRD II.
MIFIDPRU Disclosures
It is a regulatory requirement that these documents are made available on an annual basis. They contain disclosure requirements regarding our risk management information and procedures.
Please click here to view Handelsbanken Wealth’s MIFIDPRU Disclosures.
Employee remuneration arrangements
Handelsbanken Wealth takes a long-term view of its staff’s employment. We reward our members of staff through salary and standard benefits such as pension contributions and medical insurance schemes. The main principle of our compensation policy and the majority of our employees are on fixed compensation.
Variable compensation is applied with great caution so to maintain Handelsbanken Wealth’s risk profile. As well as identifying, monitoring, analysing and reporting material risks of the compensation system, our compensation policy and processes are reviewed annually by the Head of Compliance & Risk. The review will consider adherence to the provisions of the FCA’s Remuneration Code.
Company structure
The Board of Handelsbanken Wealth is responsible for the high level supervision of the current and future regulated activities of the company.
The directors of the Board are:
Within our governance structure the day-to-day management of Handelsbanken Wealth is delegated to the Executive Committee. Please click here to view the members of the Executive Committee.