Titan Asset Management Ltd (“TitanAM”) supports the principles set out in the Financial Reporting Council’s UK Stewardship Code (the “Code”) and we recognise our stewardship responsibilities to our clients. We therefore seek to apply our investment approach in a way that is consistent with protecting and, where possible, enhancing the economic value of the funds’ investment portfolios.

We recognise that our clients increasingly need to develop a much deeper understanding of our stewardship activities and how we integrate environmental, social and governance (ESG) issues into our investment decision making process. To that end, we have published the TitanAM Sustainable Investing Policy in which we describe our approach to sustainable investing and provide examples of how we applied it.

The following documents contain additional information on key aspects of our approach to stewardship including the sustainable allocation, management and oversight of capital to create long-term value for clients:

· Sustainable Investing Policy

· Proxy Voting Policy

· Conflicts of Interest Policy

We are committed to continuously improving our reporting in these areas and are working towards reporting against the twelve principles set out in the Code with the aim of becoming a signatory to the Code in due course.

Last reviewed and effective from December 2022