Pillar 3 disclosure

AIFMD Remuneration disclosures

2017

Rockspring Property Investment Managers LLP (“RPIM LLP”), manager of the AIFs listed on our website disclosures, is authorised by the FCA as an AIFM, and appointed as such, with effect from 22 July 2014.

Requirements for compliance with the Alternative Investment Fund Managers Directive in the UK are set out in the FCA Investment Funds sourcebook. Rule FUND 3.2.2 in this sourcebook requires certain information to be provided to prospective investors.

The FCA’s general guidance on the AIFM Remuneration Code (SYSC 19B) was published in January 2014. Under the Code, the Remuneration Committee in its oversight of Rockspring Property Investment Managers LLP must make relevant remuneration disclosures no later than 6 months following the end of the financial year, splitting remuneration into fixed and variable remuneration and breaking down remuneration for the category of AIFM Code Staff which is defined as all staff whose professional activities have a material impact on the risk profiles of the AIFM or of the AIFs the AIFM manages.

Code Staff in are defined as the directors, members of the management board, employees performing a significant influence function and other senior managers and heads of controlled functions.

Remuneration Committee approves the list of AIFM Code Staff annually. In addition, AIFM Code

Staff are notified of their status and the implications of this annually

Remuneration policy

The Remuneration Committee of RPIM LLP has established a Remuneration Policy and its purpose is to ensure that the remuneration of employees is consistent with and promotes sound and effective risk management and does not encourage risk-taking which is inconsistent with the risk profiles, rules or instruments of incorporation of each AIFM and the AIFs they manage.

This policy applies to RPIM LLP and the AIFs it manages.

Further information with respect to RPIM LLP remuneration policy is available upon request.

Employee remuneration disclosures

The table below provides an overview of the aggregate total remuneration paid by RPIM LLP to all AIFM staff.

Please further note that due to the roles of AIFM staff, this remuneration may be in respect of the

provision of services to other companies in the Rockspring group as well as other Rockspring funds. The remuneration is not apportioned and would be impractical and arbitrary to do so.

AIFM Staff

Headcount

Total Remuneration

Of which:

Fixed remuneration

12

2,810,865

Variable remuneration

12

3,412,893

Carried interest

-

-

 

 

 

AIFM activities

The following table provides an overview of the size and composition of the AIFs managed by RPIM LLP.

Funds

AIFM Funds

Number of Funds

AUM

% of AUM

AIFs

6

1,331,902,038

100%

Rockspring PanEuropean Property Limited Partnership

1

237,090,149

18%

Rockspring German Retail Box Fund Limited Partnership

1

284,531,085

21%

Rockspring TransEuropean Property V Limited Partnership

1

274,737,676

21%

Rockspring UK Value 2 Limited Partnership

1

249,356,704

19%

Rockspring UK Value 2 Parallel Limited Partnership

1

25,652,716

2%

Rockspring TransEuropean Property VI Limited Partnership

1

260,533,708

20%

Glossary

AUM

Assets under management are measured at fair market value on the relevant cut-off date. The latest available valuations are reported in the Annual Report & Accounts.

Other funds

Those funds that are not classified as alternative investment funds.

Senior Management

AIFM Remuneration Code Staff who are members of the AIFM’s board or controlled function providers.

Total Remuneration

Total remuneration reported will be the sum of salary, cash bonus, any deferred annual bonus, the fair

value of any long term incentive awards, plus the value (actual or estimated) of any pension or benefits in kind, awarded in respect of performance in the reportable financial year, i.e. 01/04/16 – 31/03/17.

2016

Rockspring Property Investment Managers LLP (“RPIM LLP”), manager of the AIFs listed below is authorised by the FCA as an AIFM, and appointed as such, with effect from 22 July 2014.

Requirements for compliance with the Alternative Investment Fund Managers Directive in the UK are set out in the FCA Investment Funds sourcebook. Rule FUND 3.2.2 in this sourcebook requires certain information to be provided to prospective investors. 

The FCA’s general guidance on the AIFM Remuneration Code (SYSC 19B) was published in January 2014. Under the Code, the Remuneration Committee in its oversight of Rockspring Property Investment Managers LLP must make relevant remuneration disclosures no later than 6 months following the end of the financial year, splitting remuneration into fixed and variable remuneration and breaking down remuneration for the category of AIFM Code Staff which is defined as all staff whose professional activities have a material impact on the risk profiles of the AIFM or of the AIFs the AIFM manages.

Code Staff in are defined as the directors, members of the management board, employees performing a significant influence function and other senior managers and heads of controlled functions.

Remuneration Committee approves the list of AIFM Code Staff annually. In addition, AIFM Code staff are notified of their status and the implications of this annually.

Remuneration policy

The Remuneration Committee of RPIM LLP has established a Remuneration Policy and its purpose is to ensure that the remuneration of employees is consistent with and promotes sound and effective risk management and does not encourage risk-taking which is inconsistent with the risk profiles, rules or instruments of incorporation of each AIFM and the AIFs they manage.

This policy applies to RPIM LLP and the AIFs it manages. 

Further information with respect to RPIM LLP remuneration policy is available upon request.

Employee remuneration disclosures

The table below provides an overview of the aggregate total remuneration paid by RPIM LLP to all AIFM staff.

Please further note that due to the roles of AIFM staff, this remuneration may be in respect of the provision of services to other companies in the Rockspring group as well as other Rockspring funds. The remuneration is not apportioned and would be impractical and arbitrary to do so.

AIFM Staff

Headcount

Total Remuneration

Of which:

Fixed remuneration

12

2,567,500

Variable remuneration

12

3,678,497

Carried interest

-

-

 

 

 

AIFM activities

The following table provides an overview of the size and composition of the AIFs managed by RPIM LLP.

Funds

AIFM Funds

Number of Funds

AUM

% of AUM

AIFs

6

1,206,820,226

100%

Rockspring PanEuropean Property Limited Partnership

1

209,031,496

17%

Rockspring German Retail Box Fund Limited Partnership

1

260,078,740

22%

Rockspring TransEuropean Property V Limited Partnership

1

314,582,677

26%

Rockspring UK Value 2 Limited Partnership

1

202,841,391

17%

Rockspring UK Value 2 Parallel Limited Partnership

1

21,230,804

2%

Rockspring TransEuropean Property VI Limited Partnership

1

199,055,118

16%

Glossary

AUM

Assets under management are measured at fair market value on the relevant cut-off date. The latest available valuations are reported in the Annual Report and Accounts.

Senior management

AIFM Remuneration Code Staff who are members of the AIFM’s board or controlled function providers.

Total remuneration

Total remuneration reported will be the sum of salary, cash bonus, any deferred annual bonus, the fair

value of any long term incentive awards, plus the value of any pension or benefits in kind, awarded in respect of performance in the reportable financial year, i.e. 01/04/15 – 31/03/16.

 

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