An updated regulation regarding shareholder rights and obligations came into force on 9 June 2019. For Robeco, the European Union’s Shareholder Rights Directive II (SRD II) is simply business as usual. Much of the directive makes compulsory what was previously voluntary, however, it could mean large changes for EU institutional clients.
SRD II could have significant impact for smaller asset owners or managers who do not have the resources to effect the level of active ownership that the new regulation requires. In this brochure, we explain what it means, the improvements it is set to bring, and the level of service that Robeco can offer in meeting SRD II.
The current Shareholder Rights Directive (SRD I) came into force in 2009. Three years later, the European Commission found evidence that shareholder rights were poorly used; the level of monitoring of EU investee companies, and engagement by asset managers and asset owners, has been often inadequate and were focusing too much on short-term returns.
SRD II addresses this problem in two main ways. Firstly, it enhances long-term engagement between EU listed companies and their shareholders. Secondly, it promotes the alignment of interests between equity asset owners and asset managers, contributing to the responsible stewardship of the assets under management.
It sets five specific requirements:
In this brochure we look at these issues in turn, describing what Robeco currently does, and how we can help clients who need to meet the regulations.
The information contained on these pages is for marketing purposes and solely intended for Qualified Investors in accordance with the Swiss Collective Investment Schemes Act of 23 June 2006 (“CISA”) domiciled in Switzerland, Professional Clients in accordance with Annex II of the Markets in Financial Instruments Directive II (“MiFID II”) domiciled in the European Union und European Economic Area with a license to distribute / promote financial instruments in such capacity or herewith requesting respective information on products and services in their capacity as Professional Clients.
The Funds are domiciled in Luxembourg and The Netherlands. ACOLIN Fund Services AG, postal address: Affolternstrasse 56, 8050 Zürich, acts as the Swiss representative of the Fund(s). UBS Switzerland AG, Bahnhofstrasse 45, 8001 Zurich, postal address: Europastrasse 2, P.O. Box, CH-8152 Opfikon, acts as the Swiss paying agent. The prospectus, the Key Investor Information Documents (KIIDs), the articles of association, the annual and semi-annual reports of the Fund(s) may be obtained, on simple request and free of charge, at the office of the Swiss representative ACOLIN Fund Services AG. The prospectuses are also available via the website www.robeco.ch. Some funds about which information is shown on these pages may fall outside the scope of the Swiss Collective Investment Schemes Act of 26 June 2006 (“CISA”) and therefore do not (need to) have a license from or registration with the Swiss Financial Market Supervisory Authority (FINMA).
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