Remuneration policy

BENDURA Funds Inc. is subject to the legal and regulatory requirements applicable to fund management companies with regard to the implementation of its remuneration policy and practices. The following remuneration principles relate to the remuneration of our company’s employees and management.

The company’s compensation system provides a market and function related fixed compensation as well as a performance oriented variable compensation. With this remuneration scheme, the company considers the interests of investors, shareholders, and employees equally and ensures a sustainable and positive development of the company. Due to the overweighting of the fixed versus the eventual variable remuneration, the remuneration scheme also promotes responsible and risk-conscious behavior of the employees and avoids false incentives.

The essential parameters for determining the amount of the fixed remuneration are the exercised function, the responsibility within the company, and the assessment of past performance.

In addition to the fixed remuneration, there is also a variable remuneration based on the performance of the company as a whole. The components are in an adequate relative fraction and do not provide incentives to take risks with the motivation to increase personal remuneration in the short term. The fixed component is calculated in such a way that a flexible remuneration policy is possible with regard to the variable component up to and including complete waiver. The Board of Directors determines the variable compensation annually and reviews its basis.

Due to the independence of the success of the investment decisions from the personal remuneration of the employees, the remuneration policy therefore supports, in the absence of incentives to the contrary, an independent and holistic analysis of the risk-return profile of the investments of the respective funds. This analysis includes sustainability risks and provides the basis for investment decisions. The remuneration policy also does not set any incentives to take on excessive risks that would be incompatible with the risk profile of the funds managed.

The details of the company’s remuneration and risk policy are set out in our internal directives.