Castlebay_Stewardship_Report_April_2025.pdf

Here are the key points from the document:

Introduction

• Castlebay Investment Partners LLP (Castlebay) is committed to responsible investing and ESG (Environmental, Social, and Governance) principles.

ESG Principles

• Castlebay's investment approach is based on a combination of traditional value investing and ESG considerations.
• The company believes that high-quality businesses with strong management teams are more likely to be sustainable for the long term.

Quality Screen

• The first stage of Castlebay's investment process is a quality screen on the UK and other developed equity markets.
• Seven quantitative factors are used to narrow down the number of potential investments from 2,500 companies to around 65 listed businesses.

Thematic Approach

• Castlebay does not consider itself an impact or thematic investor. Instead, it focuses on a small number of high-quality businesses that will continue to be sustainable for the long term.
• Business models must stand the test of time and management teams must manage their business and allocate capital well to have a positive impact.

Engagement & Proxy Voting

• Castlebay has a separate policy detailing its approach to engagement and proxy voting.

Stock Lending

• Castlebay does not engage in stock lending, so it does not need to recall lent stock to exercise voting rights.

Conflicts of Interest

• Castlebay recognizes the potential for conflicts of interest to arise and has detailed its approach to managing such conflicts in a separate policy.