Fraud Warning
To reduce the likelihood of fraud always verify our company’s contact details (including telephone number) with those listed on the FCA’s online Financial Services Register.

Please be aware that during August 2019 we were alerted to the fact that fraudsters were impersonating Walter Scott and were offering bond investments. Walter Scott does not offer investments in bonds. If you are approached by fraudsters please report to the FCA using their share fraud reporting form or call their consumer helpline on +44(0)800 111 6768. If you have already paid money to fraudsters, you should contact the police at Action Fraud on +44(0)300 123 2040.

Proxy Voting

Proxy Voting

The policy and statements below outline the firm’s position in relation to proxy voting.

Proxy Voting Policy

2019 Proxy Voting Disclosure

2018 Proxy Voting Disclosure

2017 Proxy Voting Disclosure




Engagement with companies is an important and integral part of Walter Scott’s investment process. Investing in a company carries with it the responsibility to consider and monitor how the company operates with regard to all stakeholders as well as the environment. More information on our Engagement Policy can be accessed through the link below.

Engagement Policy

ESG Policy

ESG Policy

Environmental, social and governance considerations are an important and integral part of Walter Scott’s investment philosophy and process. We believe that investing in a company carries with it the responsibility to consider and monitor how the company operates with regard to all stakeholders as well as the environment. More details can be found in the link to our ESG Policy below.

ESG Policy

Stewardship Codes

Stewardship Codes

The aim of both the UK Stewardship Code and Japan’s Stewardship Code is to enhance the quality of engagement between institutional investors and companies to help improve long-term returns to shareholders and the efficient exercise of governance responsibilities.

Please find below links to our response to both the UK and Japanese Codes.

Response to UK Stewardship Code

Response to Japan’s Stewardship Code

Response to Japan’s Stewardship Code (Japanese)

Modern Slavery Statement

Modern Slavery Statement

As a firm, we are committed to preventing acts of modern slavery and human trafficking from within both its business and supply chains. Please find below a link to our annual statement.

2020 Modern Slavery Statement

2019 Modern Slavery Statement

2018 Modern Slavery Statement

2017 Modern Slavery Statement


Shareholder Rights Directive II

Shareholder Rights Directive II

The revised EU Shareholder Rights Directive II (SRD II) is designed to facilitate the exercise of shareholder rights, encourage shareholder engagement with companies and set out new requirements for companies. The emphasis is very much on encouraging long-term shareholder engagement which should improve investee companies’ corporate governance and performance. The deadline for implementing the Directive was 10 June 2019 when the FCA’s new rules came into force.

Walter Scott’s core conviction is that over the long term, returns to shareholders can only ever be as great as the wealth generated by the underlying businesses in which they are invested. Longevity of compound return goes hand in hand with the concept of sustainability.

For Walter Scott, good stewardship means acting as a responsible owner on behalf of the firm’s clients. Below are some examples of how this is achieved:

  • The consistent application of the firm’s investment philosophy and process;
  • In-depth analysis and monitoring of companies;
  • Engagement – Walter Scott holds regular meetings with senior management. These meetings provide the forum to discuss governance issues, as well as environmental and social concerns where necessary. Additional engagement may occur relating to matters such as proxy voting, governance or consultation on revised remuneration policies.
  • Proxy voting – Walter Scott has its own Proxy Voting Policy and, where authorised to do so, exercises discretionary proxy voting authority with a view to safeguarding its clients’ best interests.

Walter Scott’s current Policies regarding Engagement, ESG and Proxy Voting, as well as the firm’s Response to the UK Stewardship Code, are all publicly disclosed within the ‘Disclosures’ section of this website.


Markets in Financial Instruments Directive II (MIFID II)

In accordance with Article 65(6) of Commission Delegated Regulation (EU) 2017/565, please find below links to our disclosure on execution for the calendar years 2017, 2018 and 2019.

2017 – Top Five Brokers

2017 – Top Five Brokers (CSV Format)

2017 – Quality of Execution Obtained


2018 – Top Five Brokers

2018 – Top Five Brokers (CSV Format)

2018 – Quality of Execution Obtained


2019 – Top Five Brokers

2019 – Top Five Brokers (CSV Format)

2019 – Quality of Execution Obtained