The Management Company's Remuneration Policy
Pursuant to Article 111-bis of the Luxembourg Law of 17 December of 2010, Global Evolution Manco (the "Management Company") has established a remuneration policy (the "Remuneration Policy") for those categories of staff (the "Identified Staff"), including senior management, risk takers, control functions, and any employees receiving total remuneration that takes them into the same remuneration bracket as senior management and risk takers and whose professional activities have a material impact on the risk profiles of the Management Company or the Global Evolution Funds Sicav (the "Fund").
The board of directors of the Management Company, acting as a supervisory function, is responsible for establishing the general principles of the Remuneration Policy for the Identified Staff. The Remuneration Policy takes into account all elements pertaining to the Management Company's and the Managed Funds' strategy, the risk-taking strategy, and the nature, scale and complexity of the Management Company's activities.
Below are the main principles on which the Remuneration Policy relies:
- The Remuneration Policy encourages the alignment of corporate governance and sustained long term value creation for the Fund's investors.
- The Remuneration Policy is consistent with and promotes sound and effective risk management and does not encourage risk-taking which is inconsistent with the risk profile of the Fund or of the Management Company itself. It includes measures to avoid conflicts of interest, it is in line with the business strategy, objectives, values and interests of the Management Company and the UCITS that it manages and does not interfere with the obligation of the Management Company to act in the best interests of the Fund.
- The Remuneration Policy takes sustainability risks in consideration in accordance with Article 5 of regulation 2019/2088, where relevant for any particular individual.
- An analysis of job functions and responsibilities are undertaken for a proper assessment of those roles that could materially affect the Management Company's and / or the Funds' risk profile. In this regard, the Management Company has defined what constitutes materiality within the context of its activities (e.g. significant impact on the Management Company's or on the Managed Funds' results and/or balance sheet and/or on the performance).
- The remuneration policy includes an assessment of performance in a multi-year framework appropriate to the holding period recommended to the investors of the Fund in order to ensure that the assessment process is based on the longer-term performance of the Fund and its investment risks.
- The remuneration components have been combined to ensure an appropriate and balanced remuneration package that reflects the business units, the employees' rank in the Management Company, the professional activity as well as the common market practice.
Fixed and variable components of total remuneration are appropriately balanced and the fixed component represents a high proportion of the total remuneration to allow the operation of a fully flexible policy on variable remuneration components, including the possibility to pay no variable remuneration component at all.
The Management Company will provide more information about its Remuneration Policy in hard copy free of charge to the investors, upon request.