FRC welcomes record number of Stewardship Code signatories
News types: Codes and Standards Announcements, Company Specific, Generic Announcement, Operating Procedures, Publications
Published: 30 August 2023
The Financial Reporting Council (FRC) has today announced a record number of successful signatories to the UK Stewardship Code following the latest round of applications.
There are now 277 signatories to the Code, representing £44.6 trillion assets under management. This includes 189 asset managers, 69 asset owners and 19 service providers. 27 organisations have been added to the signatory list, and 164 organisations successfully renewed their signatory status following the Spring 2023 application window*.
The strength of the principles-based and flexible nature of the Code is evidenced by growth of the signatory list to date, which includes a wide range of organisations by size, asset class and strategy. The FRC is pleased to see continued growth in the assets other than listed equity covered by the Code, and continued progress in the reporting of stewardship activities and outcomes by signatories, for example, in improving the board diversity at investee companies and improved disclosure related to climate change and biodiversity.
The FRC is also pleased to announce that Andrea Tweedie has been appointed as the FRC’s new Head of Stewardship after acting as the interim Head of Stewardship. In this role, Andrea will lead on stewardship policy development and the assessment of the UK Stewardship Code applicants, ensuring that the FRC continues to promote best practices in stewardship across the investment chain.
Mark Babington, Executive Director of Regulatory Standards, said:
“It is great to see a further increase in the number of signatories to the Code, alongside the overall quality of reporting continuing to improve.
The strengthened Stewardship Code encourages signatories to deliver long-term value for clients and beneficiaries in a way that is aligned with their business model and strategy.
Congratulations to Andrea on her appointment to the role of Head of Stewardship, where she will continue to ensure that our code continues to develop in a way that is responsive to the needs of investors, and delivers high-quality stewardship outcomes.”
Andrea Tweedie, Head of Stewardship, said:
“The UK Stewardship Code sets high standards for asset owners, asset managers, and the service providers that support them.
I look forward to continuing to work with the broad range of partners we engage with in further raising the bar for stewardship reporting in the UK, helping to deliver sustainable benefits for the economy, environment, and society as whole.”
*The total number of signatories includes the current signatories (86) from the previous update to the list on 15 February 2023, following the 31 October 2022 deadline.
Successful signatories of the UK Stewardship Code from Spring 2023 applications:
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Aegon Asset Management
Aegon UK
AGF International Advisors Company Ltd
Alcentra Ltd.
AllianceBernstein L.P.
Allianz Global Investors
Allspring Global Investments
Amati Global Investors Limited
Aon Solutions UK Limited and Aon Investments Limited
Arcus Infrastructure Partners LLP
Ardea Investment Management
Ardevora Asset Management LLP
Artemis Investment Management LLP
Arts Council Retirement Plan (1994)
Asset Management One Co., Ltd
ATLAS Infrastructure
Aviva Investors
Aviva Life and Pensions UK Ltd
AXA Investment Managers
Baillie Gifford and Co
Barclays Bank UK Retirement Fund
Baring Asset Management Limited
Barnett Waddingham LLP
BlackRock Inc
BNP Paribas Asset Management
BP Pension Fund
Brunel Pension Partnership
Canada Life Asset Management Limited
Canada Life Limited
Capital Group
Cardano
Carmignac
Castlebay Investment Partners LLP
Castlefield Investment Partners LLP
Central Finance Board of the Methodist Church and Epworth Investment Management Ltd
Chawton Global Investors
Chelverton Asset Management Ltd
Church House Investments Limited
Church of England Pensions Board
Close Brothers Asset Management
Coal Staff Superannuation Scheme Trustees Limited
Cohen & Steers UK Limited
Columbia Threadneedle Investments
COMGEST
Coupland Cardiff Asset Management LLP
CQS (UK) LLP
Dean Wetton Advisory
Derbyshire Pension Fund
Dodge and Cox
Dundas Partners LLP
Egerton Capital
Environment Agency Pension Fund
EOS at Federated Hermes
Essex Pension Fund
Evenlode Investment
Federated Hermes Limited
Fidelity International
Fiera Capital
Findlay Park Partners LLP
First Sentier Investors
Franklin Templeton
Fundsmith LLP
GAM International Management Ltd (GIML)
Generation Investment Management LLP
Genesis Investment Management, LLP
Glass Lewis and Co. LLC
Global Systematic Investors LLP
GMO LLC
Goldman Sachs Asset Management
Greater Manchester Pension Fund
Gresham House Asset Management Limited
Guinness Global Investors
Hampshire Pension Fund
Herald Investment Management Limited
Hosking Partners LLP
HSBC Bank (UK) Pensions Trust
HSBC Global Asset Management (UK) Ltd
Hymans Robertson LLP
IFM Investors
Impax Asset Management
Insight Investment
Institutional Shareholder Services (ISS)
Invesco Asset Management Limited
Investec Wealth & Investment Limited
Investment Association Services Limited (trading as Institutional Voting Information Service)
J.P. Morgan Asset Management
Janus Henderson Investors
JPMC UK Retirement Plan
Jupiter Fund Management Plc
Kiltearn Partners LLP
Lansdowne Partners (UK) LLP
Lazard Asset Management
Legal and General Investment Management
LGPS Central Limited
Lindsell Train
Liontrust
Lodbrok Capital LLP
Lombard Odier Asset Management (Europe) Ltd
London Borough of Hillingdon
London LGPS CIV Ltd
Longview Partners
Loomis, Sayles and Company, L.P., and Loomis Sayles Investments, Limited
M&G Investments
M&G plc
Macquarie Asset Management
Man Group
Manulife Investment Management
Marathon Asset Management Limited
Martin Currie Investment Management
Mayfair Capital Investment Management Limited (now rebranded to Swiss Life Asset Managers UK)
Metropolis Capital
MFS Investment Management
Minerva Analytics Ltd
Mirabaud Asset Management Limited
Mirova
Mondrian Investment Partners Limited
Montanaro Asset Management
Morningstar Sustainalytics (fka Sustainalytics, a Morningstar company)
Newton Investment Management
Nikko Asset Management
Nordea Asset Management
Northern Ireland Local Government Officers’ Superannuation Committee
Northern Trust Asset Management
Osmosis Investment Management
Ownership Capital
Oxfordshire County Council Pension Fund
Parliamentary Contributory Pension Fund
Partners Group AG
Payden & Rygel
Pennon Group Pension Scheme
Pension Insurance Corporation
PGIM Real Estate
Phoenix Group
Pictet Asset Management
Premier Fund Managers Limited
Quilter
Railpen
Rathbones Group PLC
RBC Brewin Dolphin
RBC Global Asset Management
Redington
Redwheel
River and Mercantile Asset Management LLP
Robeco Institutional Asset Management B.V.
Rothschild & Co Wealth Management UK Limited
Royal London Asset Management (RLAM)
Royal Mail Pension Plan
Ruffer LLP
Russell Investments
Sands Capital Management, LLC
Sarasin & Partners
Schroders
Seven Investment Management
Shropshire County Pension Fund
Slater Investments Ltd
Somerset Capital Management LLP
St. James's Place
Staffordshire Pension Fund
State Street Global Advisors
Stonehage Fleming Investment Management UK
Strathclyde Pension Fund
Superannuation Arrangements of the University of London (SAUL)
SVM Asset Management
T. Rowe Price
Target Fund Managers Limited
Trinetra Investment Management LLP
Troy Asset Management Limited
Trustees Of The Mineworkers' Pension Scheme Limited
TwentyFour Asset Management LLP
Tyne and Wear Pension Fund
UBS Asset Management (UK) Ltd
Universities Superannuation Scheme - USS
Van Lanschot Kempen Investment Management (UK) Ltd
Vanguard Asset Management, Limited
Veritas Asset Management LLP
Veritas Investment Partners (UK) Limited
Victory Hill Capital Partners LLP
Vontobel Asset Management
Walter Scott and Partners Limited
Waverton Investment Management
Wellington Management Company LLP
West Midlands Pension Fund
West Yorkshire Pension Fund
WHEB Asset Management
William Blair Investment Management, LLC
Wiltshire Pension Fund
Worcestershire Pension Fund
WTW
XPS Investment Limited