INTRODUCTION

Stewardship is the responsibility attributed to an institutional investor to monitor, oversee and manage the capital invested in companies in order to create long-term value for its clients. The stewardship code is a set of principles or guidelines aimed primarily at institutional investors, who hold shares, and thus, voting rights in investee companies to fulfill their fiduciary obligations towards their clients. At the investee company level, the stewardship codes promote high standards of corporate governance by requiring investors to monitor and, where necessary, engage with investee companies on material matters, including environmental, social, governance, strategy, performance and risk issues and to vote on their shares at the shareholder meetings of the investee companies

Recognizing that companies and investors have a symbiotic existence: i.e. companies need investors, just as much as investors need companies, effective stewardship and effective governance go together. For a company to be able to act in the investors’ best interest, it also needs to understand the investors’ perspective. The intent of a stewardship code is to set forth a broad framework that encourages the investors to engage with companies they have invested in and their respective management teams and boards of directors, thereby benefitting both the investee companies and the investors.

Stewardship aims to promote the long-term success of investee companies in a manner that the ultimate providers of capital also prosper. Effective stewardship benefits investee companies, asset managers, investors and enhances the quality of capital markets.

Mountain Managers serves as the Sponsor and Investment Manager of:

(a) WestBridge AIF I, a Category II AIF, bearing SEBI registration number IN/AIF2/18-19/0553

(b) Setu AIF Trust, a Category II AIF, bearing SEBI registration number IN/AIF2/23-24/1336