Charme III announces a partnership with the co-founders of OCS S.p.A
Charme III announces a partnership with the co-founders of OCS S.p.A. (“OCS”), whereby Charme acquires a 80% stake in OCS and the current shareholders retain a 20%
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CORPORATE INFORMATION
Charme Capital Partners SGR S.p.A. - Registered office: Milan (Italy), Via Santa Margherita no. 4. Share Capital €1.000.000. Enrolled under number 119 with the Bank of Italy’s register of asset management companies, AIFs’ section. Tax Code and VAT number: 07140121000.
Charme Capital Partners Limited is registered in England and Wales with number 09487131. Its registered office at 7th Floor, 3 St James’s Square, London, SW1Y 4JU, United Kingdom. Charme Capital Partners Limited is authorised and regulated by the Financial Conduct Authority in the United Kingdom with firm registration number 706086. See the Financial Services Register for more details.
WEBSITE TERMS & CONDITIONS
Last Updated: April 2016
IMPORTANT NOTICE
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By using this website you will be indicating that you accept and will comply with these Terms and that you have read our privacy statement which is incorporated into these Terms.
1. Company information
This website (“Website”) is operated by Charme Capital Partners SGR S.p.A. (“CCP”, “we”/”us”/”our”). The various CCP products and services detailed on this Website are provided by CCP, Charme Capital Partners Limited or their affiliates (the “CCP Group”).
CCP’s clients are the funds managed by it, and Charme Capital Partners Limited will provide services only to CCP. No person other than CCP should expect to be treated as a client by Charme Capital Partners Limited.
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Transactions arranged by CCP often relate to investments that are not readily realisable because there may be no recognised market for such investments, and therefore it may be difficult for an investor to sell such investments or to obtain reliable information about their value.
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14. Contact us
You can contact using our contact form or by post to our registered office (see above).
15. Other Disclosures
Charme Capital Partners SGR S.p.A. has not adopted a Commitment Policy pursuant to article 124-quinquies of the Consolidated Law on Finance, since, even though the investment policy of the managed funds envisages the possibility of investing in listed financial instruments, as at the date of publication of this announcement, the funds themselves have no shareholdings in companies with shares listed on an Italian or other EU member state regulated market.
It will be the care of the SGR to draw up and publish a Commitment Policy if in the future the conditions occur.
Under Rule 2.2.3R of the FCA's Conduct of Business Sourcebook, Charme Capital Partners Limited (the "Firm") is required to include on this website a disclosure about the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with UK equity issuers. Investors that commit to the Code can either comply with it in full or choose not to comply with aspects of the Code, in which case they are required to explain their non compliance. We have detailed below the reasons why the firm has chosen not to commit to the Code.
The Firm pursues a strategy that involves it advising on investing in unlisted European Private Equity investments. The Code is not therefore relevant to the Firm's strategy. While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.
Shareholder Rights Directive (SRD II)
SRD II aims to promote effective stewardship and long-term investment decision making, in respect of shares traded on EEA regulated markets and comparable regulated markets outside the EEA. It came into effect on 10 June 2019.
The rules require asset managers, who invest in shares traded on a regulated market detailed above, to:
Charme Capital Partners Limited does not manage investments in shares which are traded on an EEA regulated market, or on a comparable regulated market outside the EEA, and so the SRD II rules do not apply to it. Therefore, we have not developed a shareholder engagement policy and nor are we required to make the disclosures outlined above.
1.1 Introduction
As a MIFIDPRU investment firm, we must establish, implement and maintain gender neutral remuneration policy and practices that are appropriate and proportionate to the nature, scale and complexity of the risks inherent in the business model and the activities of the Firm. Our remuneration policy and practices are gender neutral and do not discriminate employees on the basis of gender or other characteristics.
1.2 Governance
Given the size, internal organisation and the nature, scope and complexity of the activities of the Firm it does not have a separate Remuneration Committee. Therefore, the Remuneration policy’s supervisory function is undertaken by the Firm’s Governing Body.
1.3 Performance period
The Firm’s performance period is from 1 January 2022 to 31 December 2022[FB2] [RK3] .
The Firm has adopted a Remuneration Policy that complies with the requirements of Chapter 19G of the FCA’s Senior Management Arrangements, Systems and Controls Sourcebook.
1.4 Approach to remuneration for employees
The Firm’s remuneration approach is designed to support individual and corporate performance, encourage the sustainable long-term financial health of the business and promote sound risk management for the success of the Firm and to the benefit of its customers, counterparties and the wider market. Our remuneration approach promotes long-term value creation through transparent alignment with the agreed corporate strategy.
The Board believes the Firm’s remuneration structure is appropriate for the business and the industry it operates in and is efficient and cost-effective in delivering its long-term strategy.
Undeserved and excessive remuneration sends a negative message to all stakeholders, including the Firm’s workforce, and causes long term damage to the Firm and its reputation.
1.5 Financial incentives objectives
The objectives of the Firm’s remuneration practices are as follows:
The Firm uses the following financial incentives:
Our financial incentives are designed to:
As a SNI, the Firm is not required to establish a Remuneration Committee. Given the size, internal organisation and the nature, scope and complexity of the activities of the Firm it has not formed a Remuneration Committee. Therefore, the Remuneration policy’s supervisory function is undertaken by the Firm’s Board.
The Board is responsible for reviewing and approving remuneration, and to ensure remuneration policies across the Firm are consistent with the promotion of effective risk management. [KR5] The Board is responsible for reviewing and approving salary amendments and the Firm’s bonus pool arising from the annual compensation.
The Board meets regularly and is composed of:
1.7 Components of remuneration
The Firm makes a clear distinction between the fixed and variable remuneration.
Fixed remuneration primarily reflects a staff member’s professional experience and organisational responsibility as set out in the staff member’s job description and terms of employment; and is permanent, pre-determined, nondiscretionary, non-revocable and not dependent on performance.
Variable remuneration is based on performance and reflects the long-term performance of the staff member as well as performance in excess of the staff member’s job description and terms of employment. In exceptional cases, variable remuneration is based on other conditions. Variable remuneration includes discretionary pension benefits.
The Firm will ensure that the fixed and variable components of an individual’s total remuneration are appropriately balanced. In determining this balance, the Firm considers the following factors:
When assessing individual performance to determine the amount of variable remuneration to be paid to an individual, the Firm takes into account financial as well as non-financial criteria. Non-financial criteria should:
The Firm must take into account both financial and non-financial criteria when assessing the individual performance of its staff. This aims not only to discourage inappropriate behaviours but also to incentivise and reward behaviour that promotes positive non-financial outcomes for the Firm.
The Firm uses the following financial performance criteria:
The Firm uses the following non-financial performance criteria:
The criteria outlined above are used for the assessment of the performance of:
Financial performance criteria
Overall results of the Firm
Business line results
Non-financial performance criteria
Italian Management Company Satisfaction
Financial performance criteria
Individual contribution to financial results
Non-financial performance criteria
Performance in line with firm strategy or values
Adherence to the firm’s risk management and compliance policies;
1.9 Total amount of remuneration awarded
Under MIFIDPRU 8.6.8R(2), the Firm must disclose the total amount of remuneration awarded to all staff, split into:
Remuneration type |
£ |
Fixed remuneration |
£3,580,462 |
Variable remuneration |
£386,773 |
Total amount |
£ 3,967,235 |