Commitment to the UK Stewardship Code


Under Rule 2.2.3R of the FSA's Conduct of Business Sourcebook, Cedar Rock Capital Limited ("Cedar Rock") 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.


Cedar Rock pursues a long-only, buy-and-hold global equity strategy. As Cedar Rock investments may include UK equities, the Code is applicable to some aspects of the Firm's trading. While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code. The Firm takes a consistent approach to engagement with issuers and their management in all of the jurisdictions in which it invests and, consequently, does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction.

110 Wigmore Street
London W1U 3RW
United Kingdom
Tel: +44 (0) 20 7563 1100
Fax: +44 (0) 20 7563 1111