UK Stewardship Code

Kirkoswald Capital Partners LLP (“Kirkoswald”) is making this statement in compliance with Rule 2.2.3R of the FCA’s Conduct of Business Sourcebook (“COBS”). COBS 2.2.3R requires Kirkoswald to disclose the nature of its commitment to the Financial Reporting Council’s Stewardship Code (“the Code”) or, where it does not commit to the Code, its alternative strategy. The Code comprises 12 Principles for asset managers (“Principles”). Kirkoswald’s principal macroeconomic strategy means it does not typically invest in companies with a view to actively influencing in their operational and management decisions. Accordingly, while Kirkoswald generally supports the objectives of the Code, the Principles are not presently directly relevant to its investment strategy.  In the event the investment strategy or approach of Kirkoswald changes such that the Code may become relevant, Kirkoswald will reconsider the nature of its commitment to the Code and update this disclosure accordingly.