More hedge fund cut 'n' paste fun

I had some fun last year exposing the boilerplate blah that many hedge funds (and a few bigger firms) were using to "explain" their non-compliance with the Stewardship Code. Many thanks to Responsible Investor for recently giving this a plug.

Anyway, I thought I'd have another look. In the list we submitted to the FRC and FCA last year, I had found 34 examples using pretty much the same text. So are there any more out there? Yes. Loads.

Below are some I didn't find first time around. I haven't included all the blurb - the full text includes words to describe their approach to engagement with issuers which, miraculously, seems to be the same across dozens of firms. Incidentally, a couple of the URLs are interesting. One uses the word "template" and another includes "UK_Stewardship_Code_Applicable_BUT_firm_chooses_NOT__to_commit_and_explains_why"

These are just from the first three pages of Google results (even I get bored of this stuff). There are a lot more.

Somerset Capital Management:
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to it.

Marine Capital (this one looks reasonable, to be fair):
MCL invests directly in shipping assets and therefore it has no exposure to UK listed companies. Therefore, whilst MCL generally supports the objectives that underlie the Code, the nature of its investment strategy makes it impractical and unnecessary to engage with investee companies through voting rights. The Firm has therefore chosen not to commit to the Code at this time.

Baker Steel
Consequently, while the Firm supports the general objectives that underlie the Code, the Firm has chosen not to commit to the Code. Given the investment strategies of the Funds, the principles of the Code are generally not relevant to the type of trading currently undertaken by the Firm. If the Firm's investment strategy changes in such a manner that the provisions of the Code become relevant, the Firm will amend this disclosure accordingly.

Sagil Capital
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.

Pamplona Capital Management
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen to not commit to the Code.

Avenue Capital (this is the one that includes "template" in the Google results)
As such, while the Firm generally supports the objectives that underlie the Code, the Firm does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction.

Hadron Capital
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.

Blue Whale
While Blue Whale supports the objectives that underlie the Code, Blue Whale is not in a position to commit to the Code in its entirety.

Nextam Partners
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.

AKO Capital
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.

Partners Group 
Whilst PGUK generally supports the objectives that underlie the Code, it has chosen not to commit to the Code at this time.

Clearance Group
While the firm generally supports the objectives that underlie the Code, the firm has chosen not to commit to the Code. 

Edgbaston Investment Partners
Whilst Edgbaston generally supports the objectives that underlie the Code, it does not consider it appropriate to commit to any code of practice relating to any individual jurisdiction.

Markham Rae
Consequently, while the Firm supports the objectives that underlie the Code, the provisions of the Code are not relevant to the type of investment currently undertaken by the Firm.

RAB Capital
While RAB generally supports the objectives that underlie the Code, it has chosen not to commit to the Code.

Atlas Square
Hence, while the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code. 

KAM Portfolio Management
While the firm generally supports the objectives that underlie the Code, KAM has chosen not to commit to it.

Glen Point
While the firm generally supports the objectives that underlie the Code, Glen Point has chosen not to commit to the Code. 

Sturgeon Capital
While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.