FRC announces successful signatories to UK Stewardship Code

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Published: 21 February 2024

The Financial Reporting Council (FRC) has today announced the successful signatories to the UK Stewardship Code following the latest round of applications. There are now 273 signatories to the Code, representing £43.3 trillion assets under management. This includes 188 asset managers, 66 asset owners and 19 service providers. 81 organisations successfully renewed their signatory status and one organisation was added*.

The FRC welcomes improvements in outcomes-based reporting, and the successful submissions to the Code reflect the general improvement of stewardship practice seen across asset classes from asset owners, asset managers and service providers. The FRC continues to see increased reporting on key stewardship themes, including human rights issues in supply chains, nature-based solutions and biodiversity, while climate change continues to be a key area of engagement and focus.

The Stewardship Code, which the FRC has committed to reviewing this year, aims to enhance the quality of engagement between investors and companies to help improve long-term returns to shareholders and efficient exercise of governance responsibilities.

A short document collating previously published guidance has also been published today to help signatories and applicants to the Code prepare fair, balanced and understandable reports in 2024. It provides recommendations to help organisations produce high-quality stewardship reports that demonstrate how they have applied the Code's principles across areas such as investment research, decision-making, monitoring, engagement, and exercising voting rights.

“My congratulations to the successful signatories to the UK Stewardship Code. It’s great to see the continued improvement in outcomes-based reporting amongst a general improvement of stewardship practice.

“I look forward to hearing from our stakeholders later this year as we look to review the Code.”

Mark Babington, Executive Director of Regulatory Standards

*The total number of signatories includes the current signatories (191) from the previous update to the list on 30 August 2023, following the 31 October 2023 deadline.

Signatories from the Autumn 2023 applications

  • Aikya Investment Management
  • Amundi
  • Arcmont Asset Management Limited
  • Ashmore Group plc
  • Barclays Investment Solutions Limited
  • Bedfordshire Pension Fund
  • Border to Coast Pensions Partnership
  • Brandywine Global Investment Management, LLC
  • Brown Advisory
  • BT Pension Scheme
  • Buck
  • Cambridge Associates Ltd
  • Candriam
  • Capita
  • CBRE Investment Management
  • CCLA Investment Management
  • Church Commissioners for England
  • Clwyd Pension Fund
  • Cornwall Pension Fund
  • Coutts and Co.
  • Cumbria Local Government Pension Scheme
  • Darwin Alternative Investment Management (Guernsey) Limited
  • Darwin Property Investment Management (Guernsey) Limited
  • Devon County Council Pension Fund
  • DHL Group Retirement Plan
  • Dimensional Fund Advisors Ltd.
  • Downing LLP
  • DWS Investments UK Limited
  • East Sussex Pension Fund
  • EdenTree Investment Management Ltd
  • Fisher Investments Europe Limited
  • Fulcrum Asset Management LLP
  • GuardCap Asset Management Limited
  • Harding Loevner
  • Hayfin Capital Management LLP
  • Independent Franchise Partners, LLP
  • Intermediate Capital Group PLC
  • Isio Group Limited
  • J O Hambro Capital Management Limited
  • J. Stern Co.
  • Jaguar Land Rover Pension Trustees Limited
  • James Hambro and Partners
  • Lane Clark & Peacock
  • LaSalle
  • Lincolnshire County Council Pension Fund
  • Local Pensions Partnership Investments
  • London Borough of Lambeth Pension Fund
  • Lothian Pension Fund
  • Mercer Global Investments Europe Limited
  • Mercer Limited
  • Morgan Stanley Investment Management
  • Nest
  • Neuberger Berman Europe Limited
  • NFU Mutual
  • Ninety One
  • Oldfield Partners
  • Panarchy Partners
  • Pension Protection Fund
  • Pensions & Investment Research Consultants Limited (PIRC Limited)
  • PGIM Fixed Income
  • PIMCO Europe Ltd
  • PineBridge Investments Europe Limited
  • Polar Capital
  • Principal Asset Management
  • Pyrford International Limited
  • Rothesay
  • Royal London Mutual Insurance Society Limited
  • Scottish Borders Council Pension Fund
  • Scottish Widows
  • SEI Investments (Europe) Ltd. (SIEL)
  • Smart Pension Master Trust
  • StepStone Group
  • TD Epoch (Epoch Investment Partners)
  • The Co-operative Pension Scheme (Pace)
  • TT International Asset Management Ltd
  • UK Government Investments
  • Unigestion UK Ltd
  • Union Bancaire Privée, UBP S:A:
  • Wales Pension Partnership
  • Wesleyan Assurance Society
  • Western Asset Management Company
  • Westminster City Council Pension Fund