The Financial Reporting Council (FRC) published the first UK Stewardship Code for institutional investors on 2 July 2010. The Code is designed to promote better dialogue between shareholders and company boards and encourage greater transparency about the way in which investors oversee the companies they own. The Code operates on a "comply or explain" basis and is based on the 2009 Code on the Responsibilities of Institutional Investors.
We endorse the Stewardship Code for its UK investments and supports the Principles as best practice elsewhere.
Our approach to the seven Principles:
The Stewardship Code recommends that participating firms nominate an individual who can be contacted for further information and by those interested in collective engagement. To discuss Stewardship or other corporate governance issues further, please contact: