From a Stewardship Working Party consisting of Aviva Investors, BlackRock, Governance for Owners, Railpen Investments, Ram Trust and USS
New investor group to consult how to improve quality of stewardship in the UK
Leading firms in the institutional investor community have joined forces with Tomorrow’s Company to launch a working party which aims to improve the quality of engagement by institutional investors with UK companies. The practitioner-led group aims to identify engagement styles and practices that seem to be most effective and to share that intelligence with the aim of making engagement more rewarding for investors and companies alike. The group also intends to make a significant contribution to the 2012 revision of the Stewardship Code which the Financial Reporting Council is proposing will take effect from 1st October 2012. The group includes some of the world’s largest and most active investors – Aviva Investors, BlackRock, Governance for Owners, Railpen Investments, Ram Trust and USS.
A key part of the project will be interviews with board members of leading UK companies to provide companies’ feedback on stewardship and their criteria for good stewardship. The project team will be examining how companies judge the quality of stewardship, sources of frustration for companies and what they would like to see change. The group also intends in due course to share its work with, and get feedback from, other institutional investors.
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