ALTORFER FINANCIAL MANAGEMENT LIMITED
ANNUAL DISCLOSURES
Under the Investment Firms Prudential Regime (IFPR) firms have obligations to make certain public disclosures. This document provides an overview of our responsibilities in regard to these, and the disclosures themselves.
REMUNERATION DISCLOSURE – QUALITATIVE DATA
Our Remuneration Policy contains the qualitative data we are required to declare. This is published alongside this document.
REMUNERATION DISCLOSURE – QUANTITATIVE DATA
Remuneration paid to all staff for 2022:
| Total Fixed Remuneration (£) | Total Variable Remuneration (£) | Total Remuneration (£) |
|
£538,553 |
Variable Remuneration £81,934
Dividend £114,720 Total: £196,654 |
Excluding Dividend £620,487
Including Dividend £735,207 |
Fixed Remuneration consists of salaries and 3% of employer pension contributions.
Variable Remuneration above consists of a company-wide bonus scheme, 5% of employer pension contributions, and bonuses paid for employees to purchase Altorfer Financial Management Limited B ordinary shares under a maturing EMI share option scheme.
During 2022 dividends in relation to 2021 profits were paid on 65,000 B shares in April, and 68,000 B shares in October. These shares had been made available to members of staff via Share Option Schemes. Whilst no shares or share options were issued in lieu of, or as, salary or bonus, the FCA require us to classify these dividends as variable remuneration, and we have therefore listed them separately in the above data.
Summary of any significant changes from previous disclosure:
This is the first annual disclosure.
DISCLOSURE EXEMPTIONS
As a Small Non-Interconnect firm Altorfer is exempt from reporting the remuneration split between senior management, ‘material risk takers’, and other staff.
As a Small Non-Interconnect firm Altorfer is exempt from the reporting obligations on risk management, governance arrangements, own funds, and own funds requirements.
As Altorfer has not issued any Additional Tier 1 capital instruments we are exempt from disclosures on risk management arrangements, own funds, and own funds requirements.