FRC announces 125 'successful' signatories to new UK Stewardship Code as one-third of applicants fail to make list

Received 189 applications, 147 from asset managers

clock • 2 min read
FRC announces 125 'successful' signatories to new UK Stewardship Code as one-third of applicants fail to make list

The Financial Reporting Council (FRC) has revealed that one-third of the 189 asset managers and asset owners that applied to be signatories of its revised UK Stewardship Code did not make the list, because they relied “too heavily on policy statements”.

Among the asset managers that have not been listed as successful signatories to the new UK code, which sets standards of stewardship for those investing money on behalf of UK savers and pensioners, are Schroders and JP Morgan Asset Management. The FRC received 189 applications from 147 asset managers, 28 asset owners, including pension funds and insurers, and 14 service providers, including data and information providers and investment consultants, and said that following a "rigorous review process" which took into consideration organisations' investment styles, sizes and types, 125 were...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Demand for key inputs will rise sharply, as nations look to accelerate their renewables programmes.
ESG

Greenflation: What are the drivers and how long will it last?

Metal price rises 'structural'

clock 12 August 2022 • 3 min read
Invests in companies with strong biodiversity credentials.
ESG

HSBC launches biodiversity screened ETF

SFDR Article 8

clock 11 August 2022 • 1 min read
Partner insight: Out of the wilderness

Partner insight: Out of the wilderness

Solving the problem of inertia in cash gives opportunities to both advisers and their clients, say Flagstone's Claire Jones and Grovewood Wealth Management's Lynne Gadsden.

Lynne Gadsden @ Flagstone
clock 11 August 2022 • 1 min read
Trustpilot