Participation policy of ARTS Asset Management GmbH in accordance with § 185 BörseG (Austrian Stock Exchange Act)
As an asset manager (external fund manager of investment funds), ARTS Asset Management GmbH is obliged in accordance with § 185 BörseG to prepare and publish a participation policy in accordance with § 185 BörseG regarding the investment funds under its management, or to make an unequivocal and reasoned declaration if no information on the participation policy is provided.
The present participation policy primarily covers the procedure in relation to the exercise of voting rights in connection with investments in shares of listed companies. Due to the fact that ARTS Asset Management GmbH basically invests in other investment funds (UCITS target funds) and only to a lesser extent in shares of listed companies, there is therefore no substantial opportunity to participate in decisions of listed companies.
For reasons of efficiency, such participation only takes place when a significant share of the market capitalization of a stock corporation is available. This significant share is given, from the point of view of ARTS Asset Management GmbH, if at least 3% of the voting rights are held. This has not been the case in the financial year of 2020, which also resulted in no exercise of voting rights. For this reason, in line with the explanatory possibility provided by § 185 (1) BörseG, we refrain from publishing a detailed participation policy.