Stewardship

Stewardship

UK Stewardship Code

The UK Stewardship Code (first published in July 2010, revised in September 2012), aims to enhance the quality of engagement between asset managers and companies to help improve long-term risk-adjusted returns to shareholders. The Code sets out a number of areas of good practice to which the UK Financial Reporting Council (FRC) believes institutional investors should aspire.  It also describes steps asset owners can take to protect and enhance the value that accrues to the ultimate beneficiary.  The FRC sees the UK Stewardship Code as complementary to the UK Corporate Governance Code for listed companies and, like that Code, it should be applied on a 'comply or explain' basis.

To view Marathon’s UK Stewardship Code statement click here.

Japanese Stewardship Code

The Council of Experts Concerning the Japanese Version of the Stewardship Code published the Principles for Institutional Investors (Japan’s Stewardship Code) in February 2014. The objective is to help investee companies look to generate long-term growth through engagement and other stewardship activities in accordance with the underlying principles, thereby enabling institutional investors to maximize long-term returns for clients. To fulfil this objective institutional investors must conduct appropriate stewardship activities, which in turn must sufficiently influence their investee companies’ management.

To view Marathon’s Japanese Stewardship Code statement click here.

Environmental, Social and Governance

Marathon's sole criteria for investment is 'shareholder value' and the underlying investment approach is aimed at finding companies that can deliver shareholder value through effective use of cash flow over the longer term.

For further information on Marathon's approach to ESG please view Marathon's ESG Policy click here.

Proxy Voting

Voting decisions are taken to achieve the best outcome and protection for our clients’ long-term economic interests.

For further details about Marathon’s proxy voting activity and policy click here.

Conflicts of Interest

Marathon may encounter conflicts of interest in respect of fulfilling its stewardship responsibilities. In all such situations Marathon’s policy is to look to manage such conflicts in a manner that does not compromise or prejudice the best interests of our clients.

To view Marathon’s Conflicts of Interest policy click here.

Shareholder Rights Directive II ("SRD II")

As a long-term shareholder, Marathon values the importance of effective stewardship and shareholder engagement. This aligns with the aims of SRD II to promote stewardship and long-term investment decision making, including through the publication of an asset manager’s engagement policy. As permitted under the FCA’s policy statement PS19/13, Marathon is in the process of enhancing existing policies regarding shareholder engagement to ensure all elements of SRD II are fully reflected. Please refer to the policies on this page for details of Marathon’s current engagement framework.