OTHER POLICIES

Voting Policy

Under UCITS legislation all Luxembourg SICAVS are required to have a formal voting policy and publish this on their websites. Below the voting policy of the Citadel Value Fund is explained.

An integral part of the Fund’s investment strategy is to closely monitor the business, operational and financial status of companies held in the portfolio. This includes reviewing proposals which are put to a shareholder vote. In most cases the matters submitted to a vote are routine in nature and are not deemed to be material to the value of the Fund’s investment. Examples of this are voting in favour of determining the annual accounts, setting various policies required by law etc. In such cases any potential benefit to be gained from exercising voting rights is outweighed by the time, hassle, and costs of doing so. In these cases, the Fund generally makes no use of its rights.

In cases where the result of a shareholder vote could lead to a material change in the value of a Fund’s investment in a security, and where furthermore the Fund possesses significant voting rights which could influence the final result, the Fund does exercise its rights. The Fund naturally exercises its voting rights solely on the basis of what is determined to be in the best interests of the Fund and its shareholders.

Conflict of interest policy

As required by UCITS legislation, Citadel has set up a formal conflict of interest policy. Shareholders can find a copy here.

Other policies and regulations

If you have any questions on other policies and regulations that you deem relevant for your investment in the Citadel Value Fund, you are invited to contact the legal department by sending an email with your request to info@citadelfund.com.