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Principles and Practices of Financial Management

This document sets out the Principles and Practices of Financial Management (PPFM) by which The Shepherds Friendly Society Limited conducts its With-Profits business. It has been approved by the Society’s Board of Management and was adopted at their meeting on 23rd November 2016 and effective from 1st January 2017.

The purpose of the PPFM is to enable a better understanding of the way the Society conducts its With-Profits business and, in particular, the principles and practices adopted by the Board in the application of its discretion. This improved understanding is intended to protect the interests of, and promote confidence among, With-Profits plan holders.

Principles describe the enduring statements of the standards the Society adopts when managing the With-Profits fund and are not expected to change often. Practices, on the other hand, describe the Society’s current approach and will be subject to more frequent change but still within the Principles.

The format of this PPFM considers each key area where discretion is applied and sets out firstly the relevant Principles, followed by the Practices.

You can download a full copy of our PPFM here:

Principles and Practices of Financial Management (PPFM)