The UK Stewardship Code 2020 (the “Code”) took effect on 1 January 2020 and sets high expectations of asset managers investing money on behalf of its investors. This latest edition of the Code places a greater focus on environmental, social and corporate governance matters defining stewardship as the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society.
Conduct of Business Sourcebook rule 2.2.3R, requires Park Square to include a disclosure on its website stating the nature of its commitment to the Code. If the Firm does not commit to the Code, it must state in general terms its alternative investment strategy.
Park Square advises and manages funds which invest in various types of European and US debt securities. Park Square’s strategy does not involve any investment in UK listed companies, and Park Square does not anticipate making any such investments in the future.
For this reason, whilst Park Square supports the Code’s objectives and seeks to align its approach with the broad aims of the Code where applicable, it has decided not to commit to the full principles of the Code. As part of its strategy Park Square does not anticipate actively engaging on a regular basis with management of investee companies and were there ever to be concerns over governance which might threaten the value of such investments Park Square would consider exercising its voting power to oppose the board and/or disposing of its investment.
Should Park Square’s investment strategy change, there will be a review of its commitment to the Code at that time and appropriate disclosures will be made.
Modern Slavery Statement
Park Square Capital, LLP is making a voluntary modern slavery and human trafficking statement relating to section 54 of the Modern Slavery Act 2015. We oppose slavery and human trafficking in all its forms and we make this statement to set out the steps being taken to monitor and address the risks of slavery and human trafficking throughout our business and supply chains.
Please click here for our full statement.
Pillar 3 Disclosure
Park Square is categorized as a IFPRU 125k limited license firm with the FCA, and is required to disclosure Pillar 3 information. The disclosure will be published on an annual basis as soon as practical after Park Square’s annual accounts have been audited and will be based on the position as at the ‘Accounting Reference Date’ which is 31st December.
Please click here for our Pillar 3 disclosure.
MiFID II – Article 3(3) of RTS 28 and/or Article 65(6)
This disclosure if being made pursuant to Article 3(3) of RTS 28 and/or Article 65(6) of the MiFID II Delegated Organisational Regulation, which require firms to disclose, for each class of financial instruments traded for clients during the period, a summary of the analysis and conclusions drawn from the execution quality monitoring that Park Square has undertaken.
Please click here for our RTS 28 and/or Article 65(6) Disclosure.
Sustainable Finance Disclosure Regulation (“SFDR”)
This statement contains the information that Park Square Capital Luxembourg Management Services S.à r.l. is required to provide under Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability-related disclosures in the financial services sector (the “Sustainability Disclosures Regulation”)
Please click here for Park Square's ESG policy.
No consideration of sustainability adverse impacts
Park Square Capital Luxembourg Management Services S.à r.l. (“Park Square Capital Luxembourg”) does not currently intend to publish a statement on its consideration of the adverse impacts of its investment decisions on sustainability factors in the manner set out in article 4 of the Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability-related disclosures in the financial services sector (the “Sustainability Disclosures Regulation”). Whilst Park Square Capital Luxembourg integrates sustainability risks in its investment process, as a credit investor it has limited control over and access to data from underlying portfolio companies and cannot currently provide the information in relation to its consideration of the adverse impacts of its investment decisions on sustainability factors in the manner set out in the final draft Regulation on Sustainability disclosures published by the European Supervisory Authorities on 4 February 2021. Park Square Capital Luxembourg expects to keep this position under review by reference to applicable market developments and future availability of information.
Date of publication - 1 March 2021.
For further details on any of the above information please contact a member of the Compliance Team on compliance@parksquarecapital.com
Park Square Capital, LLP
Last updated 01/03/2021