Stewardship comprises the responsible allocation and active management of assets with the aim of creating sustainable, long-term value for clients. This includes monitoring and active dialogue with the portfolio companies, the targeted exercise of shareholders' rights and the exchange with other asset managers as permitted by law.

The DVFA* Stewardship Guidelines for Asset Managers require:

1. Stewardship declaration (mandatory)

2. Continuous monitoring of portfolio companies

3. Constructive dialogue with the portfolio companies

4. Escalation process when a dialogue fails

5. Informed and responsible exercise of voting rights

6. Publication of voting behavior

7. Assessing collective engagements

8. Dealing with conflicts of interest

9. Reporting

* German Association for Financial Analysis and Asset Management