FRC adds £7trn in assets to UK Stewardship Code

AUM of signatories now totals £40.7trn

The Financial Reporting Council has added 43 new signatories to its UK Stewardship Code register, taking the total number of signatories to 236.

Assets under management of signatories now totals £40.7trn, up from £33.3trn. The FRC noted 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 added it had seen 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...