Stewardship Code

Disclosure Statement

Under Rule 2.2.3R of the Financial Conduct Authority’s (“FCA”) Conduct of Business Sourcebook (“COBS”), Risk Tailors Ltd (“RiskTailors” or the “Firm”), to the extent that it is managing investments for a professional client (as defined by the FCA), is required to disclose on its website 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, explain the rationale for this choice based on the Firm’s investment approach.

Risk Tailors’ investment strategy, notwithstanding that this may vary in the future depending on the mandate received from its clients, is in general such that the firm does not consider it to be cost-effective for it to engage directly with companies in which it invests. At present, Risk Tailors mainly invests in ETFs and the firm does not consider that those professional clients for whom it manages investments expect engagement.