First Property Asset Management Ltd (FPAM) is regulated and authorised by the Financial Conduct Authority (FCA). On 1 November 2019 FPAM became a full scope Alternative Investment Fund Manager (AIFM) enabling it to manage above €500 million in aggregate of third-party funds. Fuller details of its permissions can be found on the FCA Register here.
Under Rule 2.2.3R of the FCA’s Conduct of Business Sourcebook, FPAM is required to disclose on its website the nature of its commitment to the Financial Reporting Council’s Stewardship Code or, where it does not commit to the Code, its alternative investment strategy. FPAM is primarily a manager of holding vehicles which own commercial property on behalf of institutional and private client investors. It currently does not manage any holdings in listed companies. Therefore, while FPAM generally supports the objectives that underlay the Code, it has chosen not to commit to the Code because its investment strategy is currently limited to private companies wholly owned by it and its clients.
