FRC lists successful signatories to UK Stewardship Code

News types: Generic Announcement

Published: 7 September 2022

The Financial Reporting Council (FRC) has today published the list of signatories to the UK Stewardship Code (the Code) following its Spring 2022 assessment.

Following an extensive review process which considered organisations’ investment styles, sizes and types, 43 new signatories were added, taking the total number of signatories to 236, with assets under management (AUM) of £40.7tn, up from £33.3tn.

The Code sets high standards of stewardship for those investing money on behalf of UK savers and pensioners, and the continued growth in the number of applicants and successful signatories shows the value that investors and their clients and beneficiaries in the UK and beyond give to the Code. This supports the findings of the FRC’s recent report on the impact of the Code on the stewardship practice of asset managers and owners.
It is also encouraging that signatories who were reporting for their second year, having first applied in 2021, had in most cases used the feedback they received to improve their reporting this year. The FRC saw improvements in several areas, such as the quality of activity and outcome reporting for engagement, collaboration and escalation; contributions to addressing market wide and systemic risks and improving the functioning of the financial markets; and reporting on how signatories monitor and hold to account third parties, such as asset managers and service providers.

However, there still needs to be greater emphasis by signatories on reporting their activities and outcomes during the reporting period, using both quantitative and qualitative evidence, as the FRC will increase focus on this area in future assessment updates. 
Mark Babington, Executive Director of Regulatory Standards, said:

“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


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


J.P. Morgan Asset Management

Kempen Capital Management

Lansdowne Partners (UK) LLP

London Borough of Hillingdon Pension Fund

Macquarie Asset Management


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


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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