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Sustainability disclosures

The Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088, “SFDR” or “the Regulation”) entered into force on 10 March 2021. The Regulation requires fund managers like Next Sector Capital Management B.V. that are subject to the AIFMD registration regime to provide information on their website pursuant to Articles 3, 4, 5 and 10 of the SFDR.

This information contains three sections:

Integration of sustainability in investment decision making

This section specifically addresses Article 3 of the Regulation:

Financial market participants shall publish on their websites information about their policies on the integration of sustainability risks in their investment decision‐making process.

The portfolio management of Next Sector Capital Management B.V. serves a different purpose than steering towards socially responsible investment objectives. The portfolio management does not aim at sustainable investments and does not promote social or environmental characteristics, or a combination of these characteristics. This classifies the portfolio management as Article 6 under SFDR. The portfolio management does not consider the EU criteria for environmentally sustainable economic activities.

For portfolio management, Next Sector Capital Management B.V. does not consider the integration of sustainability risks into the investment process to be relevant. After all, ESG characteristics are not considered in the allocation process.

The strategy focuses primarily on building a diversified portfolio of early-stage private technology companies and real estate assets across various geographic regions and sectors that can deliver an attractive return, regardless of ESG characteristics. In addition, Next Sector Capital Management B.V. may invest in pooled investment vehicles that are not managed by Next Sector Capital Management B.V. Next Sector Capital Management B.V. does not select the managers of these vehicles on the basis of ESG characteristics, but on the basis of risk allocation and return.

Principal Adverse Impact Statement

This section specifically addresses Article 4 sub 1 of the Regulation:

Financial market participants shall publish and maintain on their websites:

where they consider principal adverse impacts of investment decisions on sustainability factors, a statement on due diligence policies with respect to those impacts, taking due account of their size, the nature and scale of their activities and the types of financial products they make available; or

where they do not consider adverse impacts of investment decisions on sustainability factors, clear reasons for why they do not do so, including, where relevant, information as to whether and when they intend to consider such adverse impacts.

Pursuant to Article 4 sub 1 (b) of the SFDR, Next Sector Capital Management B.V. hereby states that at present it does not consider adverse impacts reporting of its investment decisions on sustainability factors because it has less than 500 employees and does not deem it proportionate to do so.

Next Sector Capital Management B.V. remuneration policy in relation to the integration of sustainability risks

This section specifically addresses Article 5 of the Regulation:

Financial market participants and financial advisers shall include in their remuneration policies information on how those policies are consistent with the integration of sustainability risks and shall publish that information on their websites.

Pursuant to Article 5 SFDR, Next Sector Capital Management B.V. hereby declares that it does not currently have a written remuneration policy in view of the small size of Next Sector Capital Management B.V. and Next Sector Investments Coöperatief U.A. the internal organization and the nature, scope and complexity of the activities of Next Sector Capital Management B.V.