In accordance with applicable law and regulations by authorities Feri Trust (Luxembourg) S.A. („Feri Trust“) has defined remuneration guidelines applicable to their staff members.
The remuneration system has to be in line with the business strategy, the objectives and values as well as the long-term interests of Feri Trust and the investment funds administrated. It has as well to be in line with the risks that can be taken by the investment funds ( compliance of risk profiles with regulation of the funds) and with the principle of protecting clients and investors by executing the service. The remuneration system is consistent with a solid and effective risk management, it should not generate any incentives to take immoderate risks and respects to avoid potential conflicts of interest.
The remuneration of the members of staff and the bodies consists in general a fix (incl. possible monetary and non-monetary benefits and a variable component. The allocation of the fix component is oriented on market standards and has to be a sufficient remuneration for the members of staff and the bodies, this to exclude a significant dependence from variable components.
The variable remuneration is based especially by the following factors:
Success of the company
Performance of the person
Qualification, experience and capability of the person
Kind and coverage of the work assigned
The variable remuneration of specific categories of members of staff ( e.g. board members, risk taker, control function, staff members with salary equivalent to board members as well as staff members with significant influence on riks profiles of Feri Trast or the administrated investment funds) is orientated on long-term performances.
The remuneration system will be set in place by the board of directors after having passed the remuneration committee. The advisory board acts as well as remuneration committee and will do an annual review of the remuneration system.
- In the event of a conflict between the English and German versions of this guideline, the German version will prevail. -