Vintage Asset Management

Best execution report

When we transact on portfolios for clients we make every effort to ensure that we achieve the best possible result. We have a Best Execution policy which you are welcome to view on request.

Under the new regulatory requirements brought about under the EU’s MiFID II programme we are obliged to provide further information on the execution venues that we use such as regulated stock markets. In practice we direct our orders through the administrative platforms and custodians that we use on behalf of clients, which are Raymond James/Pershing and SG Kleinwort Hambros (SGKH) who in turn have their own responsibility to ensure best execution which we continue to monitor with them. Should our monitoring, which is on a continuing basis and reviewed each year, indicated that they fall short of the standards we require we address that with them directly while reserving the right to move to an alternative. These two counterparties account for all of the transactions we carried out for clients over the course of 2017 as below:

By value – Raymond James £88,375,576 or 90.3%; SGKH £9,502,062 or 9.7%

By number of trades – Raymond James 12,392 or 92.4%; SGKH 1,018 or 7.6%.

Our reporting requirements cover a range of different classes of investment. The ones in which we transact are equities (including investment trusts or companies), debt instruments if on a limited scale and exchange traded funds or notes. We do not transact in derivatives, contracts for difference and emission allowances. The majority of the transactions are in open-ended collective investments such as unit trusts, OEICs and SICAVs which are categorised as Other instruments.

 

Contacting us

Please let us know if you have any questions about this report. You can contact us by email at info@vintageassetmanagement.co.uk, by calling us on 020 7989 3110 or by writing to us at 7a Wyndham Place, London W1H 1PN.