UK stewardship code sees 74 new signatories

Including Schroders and Goldman Sachs

The Financial Reporting Council’s (FRC's) UK Stewardship Code, which governs how investors hold companies to account, has added 74 new signatories.

The FRC said that major asset managers such as Schroders, Goldman Sachs Asset Management, BMO GAM and T Rowe Price have signed up to the code, bringing the total combined assets of signatories to £33trn, up from £21trn in September. However, other key asset managers, such as JP Morgan Asset Management, Columbia Threadneedle and Allianz have yet to join the code. The FRC, which overhauled the code in 2020 to impose stricter reporting standards, also announced that it would now no longer tier signatories, instead holding all participants to the same standards. Signatories must report...