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Compliance with terms of the fund prospectus (or investment management agreement)
To the extent that it is directly involved in the investment process, Man Investments acknowledges its duty to ensure its own investment managers’ compliance with the relevant terms as set out in the fund prospectus (or similar legal document), or (in the case of individual investment management mandates) the relevant investment management agreement.

In particular, Man Investments endeavours to ensure compliance with the investment guidelines (or investor mandate), including any applicable investment restrictions and other terms of the relevant fund prospectus (or investment mandate), such as methods (and frequencies) for net asset value calculation, or dividend policies.

Monitoring of compliance with terms of prospectus/mandate
Within Man Investments, ongoing monitoring of investment activities relating to their adherence to the relevant terms of the prospectus or mandate, particularly regarding investment strategy and any specific guidelines (or restrictions), is carried out by the Man Investments operations area.

    In line with the Group’s policy on responsible business and trading practices, Man Investments has implemented the following measures:
  • The independence of the operations area by appropriate organisational separation (in terms of reporting to management)
  • A comprehensive systems architecture for the control processes and the automated production of exception or other relevant reports
  • Comprehensive operational controls are in place at every stage of the investment process

Adherence to group principles relating to customers/investors (and distributors)
In addition to ensuring compliance in the conduct of its business, Man Investments applies the Group’s principles of due care in the treatment of customers/investors and the management of relationships with distributors and other intermediaries:

    In relation to the fair and ethical treatment of investors:
  • Suitability of products
  • Provision of full, clear, unbiased and non-misleading information, including specific references to fund prospectuses and ongoing reporting/trading advisory reports
  • Quality of advice
  • Protection of customers’ interests (and assets)
  • Transparency and fairness of remuneration structures
  • Transparency and objectivity of valuation and performance measurement
  • Equitable and prompt complaints handling
  • Conflicts of interest
  • Confidentiality and security of customer information and transactions
    In relation to the provision of products and services:
  • Product development and design
  • Distribution of products and services
  • Responsible trading practices in relation to investors

External (third party) fund manager selection criteria
Man Investments, through its multi-manager operations (Glenwood, RMF and Man Global Strategies), invests in a number of external fund managers.

Potential fund managers come to the attention of Man Investments in various ways including database searches, via Man Financial and other industry contacts, and by contacting Man directly.

In order to ensure external fund managers’ integrity and capability, each of the investment engines has a detailed process for selecting new managers.

The selection criteria may differ between Glenwood, RMF and Man Global Strategies depending on the nature of the programmes being run and whether the manager under consideration is running an open fund or being considered for a new fund. All, however, seek to select credible, innovative and successful managers to provide capacity for Man Group funds.

The following sections describe factors applied to assess suitability. The account is neither highly detailed nor exhaustive, but aims to offer an accurate broad impression of the kinds of issues considered in forming external fund management relationships.