Authority & accountability
Responsibilities and decision authority are defined to support clear ownership and appropriate challenge.
03
Governance & risk management
Clear oversight.
Proportionate control.
Governance and risk management are integrated into the way the company researches, allocates and monitors its own capital. The framework is proportionate to a privately owned proprietary investment company.
01
Framework
Defined responsibility supports disciplined decisions.
Oversight focuses on the protection of company capital, the integrity of investment decisions and the reliability of the operating environment. Material decisions are documented and reviewed in the context of defined authority and risk parameters.
Governance is supported by professional advisers and service providers where specialist legal, accounting, tax, banking or operational expertise is required.
Areas of control
Risk considered at company level.
The framework evolves with the company’s activities, market conditions and external obligations.
Investment risk
Opportunity, downside, liquidity and concentration are considered in the context of the company’s own capital.
Operational control
Processes are designed to support accurate records, secure access, resilient operations and reliable execution.
Counterparty risk
Professional counterparties are assessed with regard to suitability, standing and the nature of the relationship.
Information security
Access to confidential research, corporate records and systems is restricted according to business need.
Compliance awareness
The company monitors obligations relevant to its structure and proprietary activities, with external advice sought where appropriate.
Risk principles
Preserve optionality.
Avoid forced decisions.
01Risk is considered before capital is committed, not only after an investment is made.
02Liquidity and resilience are assessed in relation to the company’s obligations and opportunity set.
03Material assumptions are revisited when facts, markets or the underlying business change.
04Confidential information is shared only with authorised parties and on an appropriate basis.