Prior year information (2017)

 

Information on the Top Five Execution Venues for 2018

Guardcap UCITS Funds PLC
Class of Instrument   Equities - Tick size liquidity band 1 and 2
Notification if <1 average trade per
business day in the previous year
  N
Class of Instrument   Equities – Tick size liquidity band 3 and 4
Notification if <1 average trade per
business day in the previous year
  Y
Class of Instrument   Equities – Tick size liquidity band 5 and 6
Notification if <1 average trade per
business day in the previous year
  Y
Class of Instrument   Equities – No tick size liquidity band
Notification if <1 average trade per
business day in the previous year
  Y

Note: the tick size liquidity bands are apportioned as per the MiFID II tick-size regime. As a global equity investor, many of our investments’ main pools of liquidity are outside the EU. As of the time of publishing, while ESMA has made recommendations to the European Commission regarding modifications to the tick size regime for this class of instruments, these have not yet been ratified by the Commission. Thus, in accord with the regulations as they currently stand, instruments are classified based purely on their ADNT in EU markets. We have also included an analogous table for those equities that we hold that have no EU pools of liquidity.

 

Annual Summary: Quality of the Execution Obtained on Top Five Execution Venues

GuardCap
GuardCap Asset Management Limited

GuardCap is a wholly-owned subsidiary of Guardian Capital Group Limited (GCG), a Canadian group which was founded in 1962 and whose shares are quoted on the Toronto Stock Exchange.

11 Charles II Street
St James’s, London, UK
SW1Y 4NS

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