I. General Disclaimer


This page contains legal and regulatory notices relevant to the information contained on this website. By accessing the site you agree to be bound by the following terms and conditions.

The information on this site ("Information") is provided for general information and is not an offer to sell, or a solicitation of any offer to buy, any interest in the investment funds managed by Chikara Investments LLP (the "Chikara Funds"). In particular, this website is not intended as marketing of any Chikara Fund in any member state of the European Economic Area for the purposes of the EU Directive 2011/61/EU on Alternative Investment Fund Managers.

II. Information on this Site

The Information is issued by Chikara Investments LLP, a limited liability partnership incorporated in England and Wales under number OC310342 ("Chikara"), authorised and regulated by the Financial Conduct Authority ("FCA").

The Information is not directed at any person in any jurisdiction where it is illegal or unlawful to access and use such information. Chikara disclaims all responsibility if you access or download any Information in breach of any law or regulation of the country in which you reside.

The Information is not directed at any person in the United States and this site is not intended to be used by any person in the United States other than persons who are "qualified purchasers" (as defined in the United States Investment Company Act of 1940, as amended) and/or "accredited investors" (as defined in Rule 501(a) under the United States Securities Act of 1933).

Accordingly, all persons who access this site are required to inform themselves of and to comply with all applicable sales restrictions in their home country.

Compliance with Certain Restrictions Relating to the Chikara Funds


Apart from as noted below, the Chikara Funds have not been and cannot be registered with the Swiss Financial Market Supervisory Authority (FINMA) and cannot be distributed in Switzerland.

Chikara Funds plc, one of the Chikara Funds, may be distributed in Switzerland to both non-qualified investors and qualified investors.

The representative in Switzerland is 1741 Fund Solutions Ltd, Burggraben 16, CH-9000 St. Gallen. The Swiss Paying Agent in Switzerland is Tellco Ltd, Bahnhofstrasse 4, CH-6430 Schwyz. The prospectus, the articles of association, the Key Investor Information Documents, as well as the annual and semi-annual reports in relation to Chikara Funds plc, may be obtained free of charge from the representative. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the representative.

III. No Advice

The Information is provided for informational purposes only and on the basis that you make your own investment decisions and do not rely upon it. Chikara is not soliciting any action based on it and it does not constitute a personal recommendation or investment advice. Users of this website should be aware that Chikara is not acting for, or advising them, and is not responsible for providing them with the protections available under the UK regulatory system to those who are clients of Chikara. Compensation will not be available from the UK’s Financial Services Compensation Scheme. Should you have any queries about Chikara Funds, you should contact your financial adviser.

IV. Accuracy of Information

The Information (including any expression of opinion or forecast) has been obtained from, or is based on, sources believed by Chikara to be reliable, but is not guaranteed as to its accuracy or completeness and should not be relied upon. The Information is provided without obligation on the part of Chikara and on the understanding that any person who acts upon it or changes his investment position in reliance on it does so entirely at his own risk. The Information does not constitute an offer to buy or sell or an invitation to make an offer to buy or sell shares in any Chikara Fund.

Information is current only as at the date it is first posted and may no longer be true or complete when viewed by you. All Information may be changed or amended without prior notice. Chikara does not undertake to update this site regularly.

V. No Liability

No representation, warranty or undertaking is given as to the accuracy or completeness of the Information by Chikara or any of its associated companies and no liability is accepted by such persons for the accuracy or completeness of such Information. In no event will Chikara or any of its associated companies be liable to any person for any direct, indirect, special or consequential damages arising out of any use of the Information, or on any other hyper-linked site, including, without limitation, any lost profits, business interruption, loss of programs or data on your equipment, or otherwise, even if Chikara is expressly advised of the possibility or likelihood of such damages.

You should be aware that the Internet is not a completely reliable transmission medium. Chikara does not accept any liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to any direct, indirect or consequential damage, arising out of the use of the products or services referred to herein.

The above provisions are not intended to exclude or restrict any duty or liability that Chikara has to its customers under the regulatory system in the United Kingdom.

VI. Indemnity

You agree to indemnify, defend, and hold harmless Chikara, its affiliates and licensors, and the officers, partners, employees, and agents of Chikara and its affiliates and licensors, from and against any and all claims, liabilities, damages, losses, or expenses, including legal fees and costs, arising out of or in any way connected with your access to or use of this website and the Information.

VII. Material Interests

Chikara and its partners, officers and/or employees may have holdings in the Chikara Funds and may otherwise be interested in transactions that you effect in those funds.

VIII. Linked Websites

This site may be linked to third party websites or contain information provided by third parties. Chikara does not make any representation as to the accuracy or completeness of such websites or information, has not and will not review or update such websites or information, and cautions browsers that any use made of such websites or information is at their own risk. Chikara does not accept any liability arising out of the information contained on any linked website or Information provided by a third party and the use of such sites and information is at your own risk.

IX. Copyright, Trademarks and Other Rights

Copyright, trademarks, database rights, patents and all similar rights in this site and the information contained in it are owned by Chikara, its licensors or relevant third party providers. You may use the Information and reproduce it in hard copy for your personal reference only. The Information may not otherwise be reproduced, distributed, stored or transmitted without Chikara’s written consent. Nothing on this site should be considered as granting any licence or right under any trademark of Chikara or any third party.

X. Governing Law

You agree that your use of this site and any dispute arising from the use of this site is subject to English law and you submit to the jurisdiction of the English courts.

XI. Privacy, Data Protection

Chikara is committed to safeguarding the personal information which you may provide to Chikara through this site and to the extent that Chikara collects any personal information, Chikara will hold it in confidence in accordance with the General Data Protection Regulation (Regulation (EU) 2016/679).

For further information on how we safeguard the personal information which you may provide to Chikara please see our Privacy Notice.

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1. Introduction and Business Principles

This policy sets out a summary of Chikara Investments LLP (“Chikara” or the “Firm”)’s commitment and approach to integrating Environmental, Social and Governance (“ESG”) factors into the investment process as well as across the culture and operations of the firm. A full policy is available on request.

2. ESG Oversight and Responsibilities

Chikara’s ESG culture has been developed by its senior management and the partnership, who maintain oversight and accountability of Chikara’s approach to ESG. Chikara has established an ESG Committee whose members consist of senior individuals representing a range of business areas.

In addition, members of the investment team and other Chikara staff are invited to participate at ESG Committee meetings on an ad hoc basis, for example to discuss ESG issues that arise in the investment process.

The ESG Committee is responsible for general oversight of ESG at Chikara, and for Chikara’s ESG strategy (in conjunction with the Partners) 

3. ESG Integration Approach

This ESG Policy covers the approach to responsible investing for all assets under management of Chikara.

Chikara has a structured yet flexible approach to incorporating ESG into the investment process. Guidelines on ESG factors are provided in a separate Chikara ESG Guidelines Document.

Using ESG screening, integration and stewardship techniques, the investment team seeks to consider how ESG risks and opportunities may have a financial impact on investment opportunities.

This aligns with the overall investment objective of the funds that Chikara manages as well as our objective to maximise returns for clients. In addition, considering ESG factors helps Chikara to develop a deeper understanding of sustainability issues and potentially reduces detrimental sustainability outcomes.

3.1 Negative Exclusion List (Screening)

In addition to observing legally required exclusions, Chikara avoids investments in companies that manufacture controversial weapons such as biological and chemical weapons, cluster bombs, anti-personnel mines or nuclear weapons.

The exclusion list is implemented as a pre-trade compliance check which prevents trades in excluded names.

3.2 ESG Research Process

Environmental, Social and Governance factors are integrated into the firm’s bottom-up investment process and these issues are considered alongside financial and strategic issues during assessment and engagement with companies. ESG risks are qualitative factors rather than quantitative inputs on a financial model.

The investment team conducts its own research which is complemented by data and research of third parties. Chikara has engaged a third party ESG and climate data provider, who provides ESG related metrics and analysis. These reports may be reviewed by the investment team where available and assist them in identifying potential areas for engagement with companies as it relates to ESG factors.

Third party reporting includes Climate Impact Reporting and Norms Based Research.

A key component to our ESG process is engagement with companies. Engagement serves three main purposes for us as it relates to ESG integration: due diligence, education and action.

3.3 Climate-Related Risks and Opportunities

We recognise there can be potential financial impacts of climate-related risks and opportunities to our investments. We think about climate-related risks and opportunities in line with TCFD categories and definitions.

By way of oversight of climate-related risks and opportunities across our investments, on a quarterly basis, the ESG Committee accesses third party climate impact reports for each fund to monitor the climate risks. Any material findings are highlighted to the investment team.

3.4 Stewardship

Stewardship is typically implemented through tools including engagement and proxy voting.

The ESG Committee is responsible for oversight of stewardship activities and acts as a point of escalation if necessary.

Chikara’s commitments to the Japan Stewardship Code and UK Stewardship Code are set out here: https://www.chikarainvestments.com/legal-disclosures

3.4.1 Engagement

Chikara’s investment philosophy emphasises fundamental, proprietary research, to identify potential companies, supported, where possible, by direct company meetings conducted by the dedicated and experienced Asian, Emerging Markets, Indian and Japanese teams at Chikara. As well as review and assessment of third party research and engagement with country and industry experts, members of the investment team engage in one-on-one meetings and telephone calls with senior management or Investor Relations representatives of companies.

The Portfolio Manager is responsible for engagement on ESG matters and monitoring is carried out via investment reviews.

Our research incorporates company-specific data and analysis as well as information from third party research providers (as detailed in the prior section).

We also have a proprietary system which allows us to record and track engagements and assists us in reporting this activity to our clients.

In the event that a company does not respond to engagement, or fails to act on the points raised, the investment team considers whether to reduce exposure or exit the position.

Public Engagement

Aside from engagement with portfolio companies, Chikara contributes, when appropriate, to relevant and important industry consultations and we discuss wider market issues in industry media.

Collaborative Engagement

We generally engage with companies on an individual basis but subject to any regulatory considerations/constraints, once an investment is made, Chikara may participate in collective engagement with other institutional investors over material matters which could have a material impact on shareholder value, when required.

3.4.2 Proxy Voting

The primary voting policy of Chikara is to protect or enhance the economic value of its investments on behalf of its clients. Chikara will vote against any agenda that threatens this position, in particular concerns over inappropriate incentives, changes in capital structure and mergers or acquisitions which are seen as detrimental to the creation of business value.

All voting decisions are made in consultation with, and approval by, the portfolio managers. Once the proxy votes are submitted, they are recorded by Chikara. Proxy voting records are available at http://www.chikarainvestments.com/voting-summary.

4. Reporting

We provide a high level of transparency to investors and produce a monthly factsheet (quarterly for the Emerging Markets strategy) containing information covering our top positions, an extensive exposure summary, and commentary on what has worked and what has not, as well as future strategy. Full disclosure of the portfolio is available on a monthly basis to investors.

In addition, we provide:

  • Proxy Voting Reporting
  • Stewardship Reporting
  • PRI Reporting

SFDR Reporting (whilst not directly in scope for SFDR reporting, PAI data is available to our investors if required).

5. Memberships of Industry Bodies

Chikara believes that participation in industry bodies demonstrates our commitment to responsible investing, helps us to be active owners, promotes appropriate ESG disclosures and helps us to learn and enhance our effectiveness in ESG. To this end, Chikara is affiliated with the following organisations:

  • Principles for Responsible Investment (PRI)
  • Association of Investment Companies (AIC)
  • Alternative Investment Management Association (AIMA)
  • TCFD Support
  • Commitment to Paris Agreement

6. Chikara Firm ESG Procedures

In addition to the ESG approach deployed within the investment process, Chikara believes it is important to operate its own business in line with good ESG practices. As such, Chikara has implemented a range of business initiatives across the three pillars of Environmental, Social and Governance. The ESG Committee is responsible for ESG initiatives at the management company level and is constantly seeking to improve and enhance Chikara’s own ESG culture.

7. ESG Training

The ESG landscape is constantly evolving, and Chikara is keen to ensure that all staff are educated and aware of ESG developments across the investment universe. To that end, employees receive regular training and regularly collaboratively engage on a wide range of issues, including ESG, sustainability, climate change and the importance of stewardship and their integration into the investment decision-making process.

8. Policy Review

The ESG Policy is reviewed at least annually.

The last review of the ESG Policy was completed in March 2024.