IA comments on the publication of the proposed new Stewardship Code

Wednesday 30th January 2019

Commenting on the publication of the proposed new Stewardship Code, Andrew Ninian, Director of Stewardship and Corporate Governance at the Investment Association said:

“The stewardship landscape has changed significantly since the Code was last reviewed, so it is right that it is being refreshed.

“Asset managers are a key player in the stewardship process, providing ongoing monitoring and engagement to ensure that they are investing in ways that will deliver long-term returns for savers and investors. Asset managers have been clear that any new Code should require signatories to report against actual stewardship activity, rather than just the policy that sits behind them, and should also reflect the growing range of issues that asset managers engage on, such as diversity and ESG. The new proposed Code recognises these key issues and provides a platform for them to be firmly embedded in the final version of the Stewardship Code.

“We will work with the FRC to ensure that the final Code fully reflects the important role of stewardship and ensures that the UK reclaims the mantle as a global leader in stewardship.”

-Ends-

Notes to Editors

For more information please contact:

Ben Rathe: [email protected]

T +44 20 7269 4655

M +44 7949 588077

About the Investment Association (IA):

• The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the asset management industry supports 100,000 jobs across the UK.
• Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
• Our purpose is to ensure investment managers are in the best possible position to:
• o Build people’s resilience to financial adversity
• o Help people achieve their financial aspirations
• o Enable people to maintain a decent standard of living as they grow older
• o Contribute to economic growth through the efficient allocation of capital.
• The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
• The UK is the second largest investment management centre in the world, after the US and manages 35% of all assets managed in Europe.