Castlefield Insights Summer 2024

CA ST LE FI EL D

Castlefield INSIGHTS

In this issue:

ANNUAL STEWARDSHIP REPORT

We're delighted to launch our latest Annual Stewardship Report. Learn more on p.2.

Castlefield has pledged their support to the Financial Vulnerability Taskforce Charter (FVC). Find out more on p.3.

For the latest instalment of the Castlefield Insights Newsletter our annual stewardship report takes centre stage. As members of the UK Stewardship Code, we follow the reporting requirements of the Financial Reporting Council, so it is a comprehensive account of the stewardship and engagement activities for the last full year (2023).

Hopefully you’ll see the scale and the impact achieved through our active ownership and it showcases how being a Thoughtful Investor works in practice. If you only read one piece, make sure it’s this one!

We’re also delighted to share a few recent achievements with you, as we celebrate being named as the 'Best Adviser Firm for ESG', along with being recognised as one of the best financial advice firms to work for. You can read more about these, plus some other recent successes on page 3

Our expert team also share a collection of practical pieces including steps high earning parents should take in the light of changes to child benefit, and whether you need to make a power of attorney on page 5

Alongside this, on page 4 we also share some recent opinion pieces and featured

Co-owners raise money for Booth Centre at Great Manchester Run. See charity activities on p.6.

articles from our expert team, including how attitudes towards

sustainable investment differ by age, how investing in vaccines improves health equity across the globe, and how client feedback has helped to shape our approach to voting. If you would like to provide feedback or you have any suggestions for future pieces, we’d be delighted to hear from you.

I hope you enjoy this issue and the (hopefully glorious) summer ahead.

CASTLEFIELD JOINS FVC

RUN FOR CHARITY

HERE COMES THE SUN

Nathan Cameron, Marketing Manager

LATEST ANNUAL STEWARDSHIP REPORT LAUNCHED

We're delighted to launch our latest Annual Stewardship Report. This details our Thoughtful Investment approach and is a comprehensive assessment of stewardship and engagement activity for the last full calendar year (2023). Within the report is an ESG performance assessment of our sustainable fund range, along with details of collaborative projects, voting and broad range of engagement case studies during the prior twelve months.

This year's report also features Castlefield fund managers, David Elton, Callum Wells, Mark Elliott and James Buckley (from left to right below), who each provide a brief introduction to their funds in a series of short videos. You can see the videos within the report at the link below:

RECENT AWARDS AND RECOGNITION

WON BEST ESG ADVISER AWARD FOR SECOND YEAR ON A ROW

For the second year in a row, Castlefield is delighted to have been named as the winners of the "Best Adviser Firm for ESG" in the nationwide category at the 2024 Professional Adviser Awards.

https://www.castlefield.com/home/media/awardsrecognition/castlefield-win-best-esg-adviser-award-forsecond-year-in-a-row/

NAMED AS ONE OF THE BEST FINANCIAL ADVISERS TO WORK FOR

Castlefield have been named as one of the "Best Financial Advisers to Work For" following an independent analysis by Best Companies.

https://www.castlefield.com/home/media/awardsrecognition/castlefield-win-best-esg-adviser-award-forsecond-year-in-a-row/

CASTLEFIELD JOINS FINANCIAL VULNERABILITY TASKFORCE CHARTER

Castlefield has pledged their support to the Financial Vulnerability Taskforce Charter (FVT) and commits to its code of conduct, which includes recognising the additional risks that clients in vulnerable circumstances face and taking active steps to address them.

https://www.castlefield.com/home/ media/news/castlefield-joins-financialvulnerability-taskforce-charter/

RECEIVED 2024 ARC RESEARCH 3D AWARD

Castlefield has received the 2024 ARC Research 3D Award demonstrating our commitment to maintaining the highest standards of transparency, engagement, and integrity in investment management.

https://www.castlefield.com/ home/media/awards-recognition/ castlefield-announced-as-recipientsof-the-2024-arc-research-3d-award/

CASTLEFIELD FEATURES ON TOP ETHICAL ADVISER LIST

Castlefield featured in Good With Money's pick of their Top Ethical Financial Advisers in this piece.

https://good-with-money.com/2024/05/01/top-9-ethical-financial-advisers/

SHORTLISTED FOR MONEY MARKETING ‘BEST ESG PROVIDER’

Castlefield has been shortlisted at the Money Marketing Awards 2024 in the ‘Best ESG Provider’ category.

https://moneymarketingawards.co.uk/2024/en/page/shortlist-2024

IN THE NEWS

As sustainable investment specialists, we’re regularly approached to provide comment to the press about various environmental, social and governance (ESG) issues. Below are a few articles where Castlefield Co-owners have recently contributed towards.

Olivia Bowen features in this piece for Professional Adviser magazine, exploring how attitudes towards sustainable investment differ by the investor's age and if younger clients have a greater preference for sustainable investments.

https://professionaladviser.com/feature/4166879/exploringesg-attitudes-talk-sustainability

Health & Wellbeing is a key positive theme within the Castlefield sustainable fund range. Castlefield European fund manager James Buckley features in this piece, giving an example of how investing in vaccines improves health equity across the globe.

https://future.portfolio-adviser.com/investing-in-vaccinestoday-will-better-position-the-world-of-tomorrow/

As stewards of our clients’ money, we actively seek client feedback to ensure we can reflect their views on the sustainability issues that are important to them. In this column for PA Future, Ita McMahon discusses how client feedback around climate expectations, has helped to shape our company engagement and approach to voting.

https://future.portfolio-adviser.com/trialling-our-revisedapproach-to-climate-engagement/

THOUGHTFUL INVESTING

POSITIVE THEME EXAMPLES

We believe responsible business practices, along with sustainable products and services, will allow companies to produce better investment returns over the long term. Our positive themes provide a framework for assessing the positive credentials of any individual investment.

At this link, you can find a few examples to show how holdings align to our positive themes in practice.

https://www.castlefield.com/home/thoughtful-investor/ featured-stocks-and-positive-themes/

You can read about more of our press coverage in this latest ‘In the news’ feature, which provides a summary of some recent interviews, opinion pieces and press coverage we’ve featured in since the start of 2024

https://www.castlefield.com/home/media/news/castlefield-inthe-news-spring-2024/

FEATURED AIM PORTFOLIO HOLDING

In this featured stock story, Castlefield's David Gorman introduces the AIM-listed holding Impax Asset Management, a specialist asset manager that invests predominantly in companies which support the transition to a more sustainable economy.

https://www.castlefield.com/home/media/blog/castlefieldaim-stock-story-impax-asset-management/

FINANCIAL ADVICE

CLIENT CORNER –STEVE HEARSUM

In this Client Corner feature, Castlefield's Michael Owens speaks to his client, Steve Hearsum. We delve into the inspiration behind Steve's new book and find out more about his career experience.

CHARITY ADVICE SERVICE

Our specialist Charity Investment Advice Service has been designed to benefit charities who have identified a specific need for one-off advice, by guiding them through the necessary steps and working with them to ensure their mission is supported for the long-term. This may include helping to understand what level of risk they're comfortable with, providing guidance on the investment duties and responsibilities of a charity trustee, or helping to define their objectives so they have clarity on their short- and medium-term priorities.

Find out more about our range of services here: https://www.castlefield.com/home/our-services/

DO I NEED TO MAKE A POWER OF ATTORNEY?

Clients often ask us about powers of attorney, and whether they need to make one. In this article, Olivia Bowen and Helen Tandy introduce different powers of attorney and suggest steps to make it easier for loved ones or someone you trust to reflect your wishes and make decisions on your behalf.

https://www.castlefield.com/home/media/blog/do-i-need-tomake-a-power-of-attorney/

CHANGES TO CHILD BENEFIT AND HOW THEY AFFECT HIGH EARNERS

Child Benefit has gained attention recently in the press, with the chancellor announcing immediate changes in the Spring Budget as well as a consultation into the controversial way the benefit is calculated.

Castlefield adviser, Michael Owens, delves into this often misunderstood benefit and highlights some actionable changes parents can make to benefit fully from the allowance.

https://www.castlefield.com/home/media/blog/what-arethe-changes-to-child-benefit-and-how-will-they-affect-highearners/

HOW TO CHANGE THE WORLD (WITH YOUR MONEY)

Castlefield Partner Thomas McCoy recently delivered an informative talk on sustainable investing to an intimate audience of Elevate members - the sustainable networking group based in the North West - helping attendees understand how to make better financial decisions.

https://www.elevategm.com/upcoming-events/sustainableinvesting

EARTH DAY – PLANET V PLASTICS

For Earth Day 2024, Castlefield Partner Helen Tandy took part in ‘Planet v Plastics’ – an online presentation in association with Giki, around the issues, environmental damage and impact on the planet caused by plastic. The talk was recorded and is aimed at anyone that wants to improve their knowledge of single use plastics – available at this link:

https://www.youtube.com/watch?v=yMD8Wqau_eE

SAVING THE PLANET IN STYLE

We recently started a 5-day environmental challenge all about fashion and its impact on the environment. There are many fashion choices which cut carbon emissions and chemical pollution, so the aim was to raise awareness, help Co-owners understand that dressing well doesn’t need to cost the Earth, and reduce our carbon footprints while saving money.

GREAT MANCHESTER RUNNERS

A team of Co-owners recently took part in the AJ Bell Great Manchester Run. Matt Ralph, David Gorman and Nathan Cameron finished the 10k event, while Lucy Conboy and Sef Hussain completed the Half Marathon – raising money for our charity partner Booth Centre.

Last year the Great Manchester Run was one of our most successful events and we managed to raise £605! Any donation would be massively appreciated via our JustGiving page here

CASTLEFIELD CHARITABLE FUND

THE CASTLEFIELD INDIVIDUAL PHILANTHROPY ACCOUNT

We've partnered with The Charity Service to launch our Philanthropy service, to help our clients give money to charity in an easier and more meaningful way.

The Castlefield IPA is a specific donoradvised fund available to Castlefield clients, offering a simple means of establishing and operating a charitable fund.

https://www.castlefield.com/home/ourservices/philanthropy/

PHILANTHROPY

Olivia Bowen recently delivered a talk on charitable and philanthropic giving at an event hosted by Manchester Cathedral, to some of their parishioners. The event included a high-profile team of speakers from Brabners Solicitors and accountants BDO, helping parishioners understand how to leave a lasting legacy, along with how they can give effectively and efficiently during their lifetime.

Find out more about the GBG and our other fundraising initiatives here:

https://www.castlefield.com/ home/media/charity-work/

The Castlefield Charitable Fund (CCF) enables us to support worthwhile projects with a positive social and environmental impact, providing grants to registered charities with an annual expenditure of under £1million. Find out more about CCF, its purpose and eligibility criteria here:

https://www.castlefield.com/home/aboutus/castlefield-charitable-fund-ccf/

HAVE YOUR SAY!

We'd love to hear your views and feedback on the marketing communications you receive from us (e.g. videos, web articles, newsletters etc.). Please let us know your thoughts and take our short survey.

All participants will be entered into a prize draw for a year's subscription to Ethical Consumer Magazine!

WE'RE HIRING

We’re currently recruiting for a couple of roles at Castlefield. If you know someone who may be interested in joining our team and becoming part of an awardwinning, employee-owned business, please get them to have a look at the roles available at this link:

https://www.castlefield.com/home/about-us/careers/ join-us/

REFER A FRIEND AND RECEIVE A FREE GIFT!

We're delighted so many of our clients speak positively about Castlefield to their friends and family. If you know someone who may benefit from our services, please forward them this newsletter to give them a taste of what we're about. As a thank you, you'll receive a year's subscription to Ethical Consumer magazine if they subsequently become a client. Just tell them to provide your name as the source for how they heard about us.

Contact: enquiries@castlefield.com

STAY UP TO DATE

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OUR VIEWS AS THE THOUGHTFUL INVESTOR

This document is intended for information purposes only and it does not constitute a personal recommendation, investment advice or an inducement to invest. It is based on information obtained from sources which we believe to be accurate but the accuracy of which we cannot warrant and may be subject to change at short notice, therefore we cannot be held responsible for the implications of relying on this information. The contents of this document are not intended to be construed as legal, accounting, or tax advice. With any investment your capital is at risk. You should seek independent financial advice if you are unsure whether an investment product is suitable for your personal financial circumstances and appetite for risk. This information is based on our understanding of current taxation, legislation and HM Revenue & Customs practice as at the time of publishing, all of which may be subject to change. Unless otherwise stated the information in this document is accurate as at 19.06.2024. No part of this document may be reproduced in any manner without prior