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Investor engagement policy

Shareholder Engagement Policy Statement for Virgin Money Unit Trust Managers Limited

If you’re saving in a pension, stocks and share ISA or unit trust you’ll be holding money in one of our funds. Most of these funds buy and sell shares in companies on stock markets. Owning shares in a company means you’re a part-owner of that company.

We use a Fund Manager to do this buying and selling. With our Climate Change Fund the Fund Manager picks the companies they buy and sell. With our other funds, which track a stock market index (like the FTSE All-Share Index), the Fund Manager doesn’t pick and choose individual companies themselves – they just follow the index.

Whichever way the buying and selling is done, owning shares in a company brings with it responsibilities – to that company’s customers and employees, the environment, and society in general.

Our Fund Managers can engage directly with these companies and vote as a shareholder on behalf of Virgin Money and the fund you’re invested in. What they do and how they vote is based on a set of principles (called their Engagement Policy) which we check are aligned with our principles and are in the best interests of the fund and you – the customers who invest in our funds.

For our Climate Change Fund, the Fund Manager is MAN GLG PDF link opens in a new window . For our other funds, it’s abrdn link opens in a new window . Select the company name to read their policies for how they invest and engage with companies.

We’ll also show how it’s working for real below. For example, we’ll share how our Fund Manager votes on significant shareholder issues where the fund is a sizeable shareholder in that company. This list will be updated each year.

Update on shareholder engagement and voting practices

With regard to the two Virgin Money funds that invest directly in the shares of companies, the tables below show some of the votes cast during 2021 that were contrary to the recommendation of the Company concerned. The tables show votes ranked by the ten largest companies in each fund where contrary votes were made.

Virgin UK Index Tracking Trust

Virgin Climate Change Fund