Bev Shah (pictured), co-CEO of City Hive
Ten investment management firms have signed up to City Hive’s Action, Challenge, Transparency (ACT) framework in 2024, marking a 58.8% rise from the previous year.
The ACT list, unveiled today (27 January), includes all 27 signatories with a combined £6.6trn in assets under management, committed to embracing transparency in corporate culture and values.
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This marked a significant growth from 2023, when the list numbered just 17 signatories with £5trn in AUM at the time.
Some of the notable names that signed up to the ACT last year include Jupiter Asset Management, Morgan Stanley Investment Management, Nedgroup Investments, Ninety One and Premier Miton Investors.
City Hive co-CEOs Bev Shah and Mandy Kirby noted the "steep increase" in the number of signatories last year, which "shows firms recognise the value of transparency with their clients about their values and culture".
"Understanding and assessing the corporate culture of those managing your assets is essential for mitigating risk," Shah and Kirby said.
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Rose Vangerven, CEO designate for Findlay Park, added: "Our culture, partnership structure and active (and therefore human-centred) investment approach have all been key to our long-term success. Our hope is that becoming signatories to ACT underlines this, while also prompting us to continue to focus on our culture in the spirit of continuous improvement."
City Hive launched ACT in 2022, which provides a standardised way for investment firms to understand, create and advance cultural change.
The list will be published twice every year in response to feedback from the ACT Stewardship Council, which monitors the firms joining or leaving the list, with City Hive looking to reach a total of 50 signatories by the end of 2025.
