The Financial Reporting Council (FRC) has published a list of 43 signatories to its UK Stewardship Code.
With 236 signatories total, the assets under management (AUM) rose from £33.3 trillion to £40.7 trillion as a result.
The new list of signatories includes NatWest Group Pension Fund, Royal Mail Pension Plan and HSBC Bank Pension Scheme.
To become a signatory, a company must have the FRC determine that its report satisfies the standards. The FRC must receive an annual report from the organisations on the list outlining how they are carrying out the Code.
The Code invites signatories to use the comments they received to improve their reporting this year. The effectiveness of activity and outcome reporting for engagement, collaboration, and escalation; contributions to addressing market-wide and systemic risks and improving the efficiency of the financial markets; and reporting on how signatories monitor and hold to account third parties, such as asset managers and service providers, were some of the areas where the FRC saw improvements.
FRC executive director of regulatory standards Mark Babington says: “I congratulate the new and returning signatories to the UK Stewardship Code. It’s also great to see improvements in how organisations are evidencing their stewardship each year and more tailored explanations on how they apply the Code to demonstrate their stewardship activity and outcomes effectively.
Using our feedback to provide clear, comprehensive and outcome-based reporting is what the spirit of the Code is all about and why it is considered the gold standard for stewardship across the globe.”
The new signatories of the UK Stewardship Code:
Alcentra Ltd.
Allianz Global Investors
Allspring Global Investments
Ardevora Asset Management LLP
BNP Paribas Asset Management
Canada Life Asset Management Limited
Carmignac
Chelverton Asset Management Ltd
Close Brothers Asset Management
Cohen and Steers UK Limited
Columbia Threadneedle Investments
Coupland Cardiff Asset Management LLP
Dodge and Cox
Egerton Capital (UK) LLP
Essex Pension Fund
Hosking Partners LLP
HSBC BANK (UK) PENSION SCHEME
J.P. Morgan Asset Management
Kempen Capital Management
Lansdowne Partners (UK) LLP
London Borough of Hillingdon Pension Fund
Macquarie Asset Management
Mirova
Mondrian Investment Partners
NatWest Group Pension Fund
Nikko Asset Management Ltd.
Nordea Asset Management
Northern Ireland Local Government Officers’ Superannuation Committee
Northern Trust Asset Management
Osmosis Investment Management
PGIM Real Estate
Pictet Asset Management
Redwheel
Royal Mail Pension Plan
Somerset Capital Management LLP
St. James’s Place
Stonehage Fleming Investment Management Limited UK
Superannuation Arrangements of the University of London (SAUL)
Victory Hill Capital Advisors LLP
Waverton Investment Management
West Yorkshire Pension Fund
William Blair Investment Management, LLC
Wiltshire Pension Fund
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