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Asset Managers

This is the list of asset managers which have published a statement of commitment to the UK Stewardship Code. Please note that inclusion on this list does not mean formal endorsement by the FRC of an institution's compliance with the Code. The purpose of the statements is to enable the market to judge the level of commitment and to provide a basis for discussion with relevant parties.

This list does not include organisations which have informed us that they wish to explain their alternative investment strategy rather than commit to the Code, or organisations which have informed us that they have produced a policy statement but do not wish to be included in this list. 
 
In 2016 the FRC assessed signatories to the UK Stewardship Code based on the quality of their Code statements. This work was undertaken to improve the quality of reporting against the Code, encourage greater transparency in the market and maintain the credibility of the Code. Tiering distinguishes between signatories who report well and display their commitment to stewardship, and those where reporting improvements are necessary. The tiering exercise has improved the quality of reporting against the Code, promoted best practice and resulted in greater transparency in the UK market. The majority of signatories significantly improved their statements, but some remained in Tier 3, meaning their reporting required significant improvement. These asset managers were given a period of time to improve their reporting or be removed from the list of Code signatories. The Tier 3 category has now been removed. To encourage continuous improvement the FRC will continue to work with signatories to improve their reporting.

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Tier 1

Signatories provide a good quality and transparent description of their approach to stewardship and explanations of an alternative approach where necessary.

A

AB 
Aberdeen Asset Management PLC
Aberforth Partners LLP
Alken Asset Management Limited
Allianz Global Investors
Amati Global Investors Ltd (PDF)
Arcus Infrastructure Partners
Artemis Investment Management LLP
Aviva Investors
AXA Investment Managers 


B

Baillie Gifford & Co
BlackRock
BMO Global Asset Management EMEA (PDF)
BNP Paribas Investment Partners 
BP Investment Management Limited  
Brewin Dolphin 


C

Candriam Investors Group
Cantillon Capital Management LLP
Capital International  (PDF)  
CCLA Investment Management Ltd  (PDF)
Charles Stanley
CIC Capital Fund Ltd
Cohen & Steers UK Limited (PDF)
Columbia Threadneedle
Coutts


E

EdenTree Investment Management Limited
Epworth Investment Management


F

Fidelity International
First State Investments 
Fisher Investments  


G

Generation Investment Management LLP (PDF)
Goldman Sachs Asset Management International
 

H

Harding Loevner
Henderson Global Investors
Hermes Fund Managers 
HSBC Global Asset Management (UK)


I

Impax Asset Management Limited
Insight Investment
Invesco Perpetual (PDF)
Investec Asset Management


J

J.P. Morgan Asset Management
Jupiter Asset Management


K

Kames Capital (PDF)
Kempen Capital Management (UK) Ltd 
KBI Global Investors​


L

Lansdowne Partners (UK) LLP
Lazard Asset Management Limited
Legal & General Investment Management 
Liontrust Investment Limited (PDF)
Longview Partners


M

M & G Investment Management Limited
Majedie Asset Management 
Manulife Asset Management (Europe) Limited​ 
Marathon Asset Management LLP
Marshall Wace LLP
Martin Currie Investment Management Ltd 
Mercer Delegated Solutions 
MFS Investment Management  (PDF)
Milton Group
Mondrian Investment Partners Limited  (PDF)
Montanaro Asset Management
Morgan Stanley Investment Management


N

Neptune Investment Management Limited  (PDF)
Neuberger Berman Europe Ltd
Newton Investment Management
NFU Mutual Investment Services Ltd 
Nomura Asset Management UK Ltd
Northern Trust


O

Old Mutual Global Investors
Oldfield Partners LLP


P

Pictet Asset Management Limited
Premier Fund Managers Limited
Principal Global Investors (Europe)  (PDF)
Pyrford International


Q

Quilter Cheviot (PDF)


R

RBC Global Asset Management UK Limited  (PDF)
Robeco Institutional Asset Management B.V.
Royal London Asset Management (PDF)
Ruffer LLP
Russell Investments


S

Santander Asset Management UK Limited
Sarasin & Partners LLP
Schroder Investment Management Limited
Seneca Investment Managers 
Skagen Funds
Slater Investments Limited
Standard Life Investments
State Street Global Advisors


T

Tesco Pension Investment (PDF)
The Central Finance Board of the Methodist Church
Thomas Miller Investment
Toscafund Asset Management LLP
Trilogy Global Advisors  (PDF)
TT International 


U

UBS Asset Management (PDF)
UK Financial Investments Limited (UKFI) 


V

Vanguard Asset Management Limited  (PDF)
Veritas Asset Management LLP (PDF)


W

Walter Scott & Partners Limited (PDF)
Wellington Management 
WHEB Asset Management  (PDF)
William Blair & Company  (PDF)
Woodford Investment Management

Tier 2

Signatories meet many of the reporting expectations but report less transparently on their approach to stewardship or do not provide explanations where they depart from provisions of the Code.

7IM (PDF)


A

Adelphi Capital LLP  (PDF)
Alvento Capital Partners LLP
Ardevora Asset Management LLP
Arrowgrass Capital Partners LLP (PDF)
Ashmore Investment Management Limited
Asset Value Investors Limited


B

Baring Asset Management Ltd  (PDF)
Beagle Partners LLP
Blakeney Management 


C

Canada Life Asset Management 
Castlefield Investment Partners LLP
CG Asset Management Limited
City of London Investment Management Company Limited
Credit Suisse UK Ltd 


D

Dalton Strategic Partnership LLP (PDF)


E

Edinburgh Partners Limited
Egerton Capital Limited 
Electra Partners 
Element Investment Managers 
Epoch Investment Partners


F

Findlay Park Partners 
Franklin Templeton Investments


G

GAM International Management Limited 
Genesis Investment Management, LLP 
Gottex Fund Management


H

Herald Investment Management Limited 
Hottinger Investment Management Limited


I

Independent Franchise Partners LLP (PDF)


J

J O Hambro Capital Management Limited 


L

Lindsell Train Ltd 
Liontrust Asset Management​ (PDF)
Lofoten Asset Management
Loomis Sayles Investments Ltd


M

Menhaden Capital Management LLP (PDF)


N

Nestlé Capital Management Ltd (PDF)
Northlight Group LLP (PDF)


O

Odey Asset Management LLP  (PDF)
Osmosis Investment Management (PDF)
Oxburgh Partners LLP  (PDF)
Oxford Capital  (PDF)


P

PIMCO Europe Ltd
Pinebridge Investments Europe Limited (PDF)
Pioneer Investment Management Limited
Polar Capital (PDF)
Polunin Capital Partners Limited​ (PDF)


R

Rathbone Unit Trust Management Limited 
Revera Asset Management Ltd
River and Mercantile Asset Management LLP
RWC Partners


S

S.W. Mitchell Capital LLP 
Saltus Partners LLP 
Seilern Investment Management Ltd 
Strategic Equity Capital plc 
SVM Asset Management


T

T.Rowe Price 
TOBAM


V

ValueInvest Asset Management