Best Execution Report

We are obliged to disclose, on an annual basis, the top five investment firms that we transmit our orders to.

Top five entities used for the transmission or placing of investment orders

The tables below relate to the period 31st December 2019 to 31st December 2020.

Equity

Top 5 venues ranked in terms of volume (descending order) LEI Proportion of volume transmitted as a percentage of total in that class
FLOW 549300CLJI9XDH12XV51 55.1%
JANE 549300ZHEHX8M31RP142 39.6%
GS W22LROWP2IHZNBB6K528 3.0%
BLUE 549300Q2Z3B0BNFSSC21 2.0%
CBKG 851WYGNLUQLFZBSYGB56 0.1%

Fixed Income

Top 5 venues ranked in terms of volume (descending order) LEI Proportion of volume transmitted as a percentage of total in that class
JANE 549300ZHEHX8M31RP142 36.2%
FLOW 549300CLJI9XDH12XV51 30.5%
MSDW 4PQUHN3JPFGFNF3BB653 18.1%
GS W22LROWP2IHZNBB6K528 9.5%
OPTV 7245009KRYSAYB2QCC29 3.8%

Commodities

Top 4 venues ranked in terms of volume (descending order) LEI Proportion of volume transmitted as a percentage of total in that class
FLOW 549300CLJI9XDH12XV51 62.6%
JANE 549300ZHEHX8M31RP142 26.3%
C XKZZ2JZF41MRHTR1V493 11.1%
OPTV 7245009KRYSAYB2QCC29 0.1%

Titan Asset Management Ltd are also appointed as Investment Managers for the ACUMEN fund (OEIC) range. Best Execution is achieved by utilising a trading platform namely Tradeweb a Request for Quote system.

Titan Asset Management Ltd execute trades in the Foreign Exchange (FX) market. This is for settlement purposes (when trading non Sterling denominated securities) and for investment purposes (when hedging overseas currency exposure) via the use of forwards. Best Execution is outsourced in this regard to BNP Paribas and therefore Titan Asset Management do not execute orders but do transmit them. BNP’s best execution policy can be found at the below link:
https://group.bnpparibas/en/publications

For the above type of investment, we only sent orders to one broker, therefore there are fewer than five brokers to report.

Top five entities used for the transmission or placing of investment orders

The tables below relate to the period 31st December 2018 to 31st December 2019.

Equity

Top 5 venues ranked in terms
of volume (descending order)
LEI Proportion of volume transmitted
as a percentage of total in that class
Proportion of orders transmitted
as percentage of total in that class
JANE 549300ZHEHX8M31RP142 25.00% 20.80%
MSDW 4PQUHN3JPFGFNF3BB653 24.10% 24.70%
GS W22LROWP2IHZNBB6K528 18.60% 8.60%
FLOW 549300CLJI9XDH12XV51 13.60% 16.70%
CBKG 851WYGNLUQLFZBSYGB56 13.10% 25.50%

Fixed Income

Top 5 venues ranked in terms
of volume (descending order)
LEI Proportion of volume transmitted
as a percentage of total in that class
Proportion of orders transmitted as percentage of total in that class
FLOW 549300CLJI9XDH12XV51 44.70% 39.80%
JANE 549300ZHEHX8M31RP142 41.80% 29.30%
CBKG 851WYGNLUQLFZBSYGB56 8.40% 26.80%
GS W22LROWP2IHZNBB6K528 4.70% 3.30%
BLUE 549300Q2Z3B0BNFSSC21 0.30% 0.60%

Titan Asset Management Ltd are also appointed as Investment Managers for the ACUMEN fund (OEIC) range. Best Execution is achieved by utilising a trading platform namely Tradeweb a Request for Quote system.

Titan Asset Management Ltd execute trades in the Foreign Exchange (FX) market. This is for settlement purposes (when trading non Sterling denominated securities) and for investment purposes (when hedging overseas currency exposure) via the use of forwards. Best Execution is outsourced in this regard to BNP Paribas and therefore Titan Asset Management do not execute orders but do transmit them. BNP’s best execution policy can be found at the below link:
https://group.bnpparibas/en/publications

For the above type of investment, we only sent orders to one broker, therefore there are fewer than five brokers to report.

© Titan Asset Management 2022