Stewardship report 2021

Download our stewardship report to learn more about our culture of stewardship, our focus on risk management, and how our active ownership practices are driven by our client and stakeholder focus.

See our full report

To us, strong stewardship is inseparable from good investing.

—Paul R. Lorentz, President and CEO, Global Wealth and Asset Management

The UK Stewardship Code reflects global principles of good stewardship

Timeline

  1. Purpose, strategy, and culture

    Disclose your purpose and how your strategy benefits clients | Develop a culture that supports purpose and strategy while also supporting best practices in stewardship

  2. Governance, resources, and incentives

    Staff resources and expertise to carry out stewardship function | Evaluate staff on stewardship execution | Create an oversight and policy structure to support and guide activities

  3. Conflicts of interest

    Train staff on conflicts of interest in stewardship | Maintain policies and processes designed to mitigate conflicts of interest when they may arise

  4. Promoting well-functioning markets

    Engage policymakers and standard setters to encourage sustainable and resilient markets | Identify and address emerging systemic risks

  5. Review and assurance

    Regularly monitor and analyze stewardship effectiveness and make changes accordingly | Invite independent oversight of stewardship processes, controls, and recordkeeping

  6. Client and beneficiary needs

    Develop mechanisms to capture client feedback and amend policies and procedures in response | Regularly report to clients on activities and outcomes achieved

  7. Stewardship, investment, and ESG integration

    Consider environmental, social, and corporate governance risks and opportunities through the investment process across portfolios | Tailor integration of sustainability factors and approach to stewardship by asset class

  8. Monitoring managers and service providers

    Work with vendors to ensure data and services meet client needs and constantly improve | Monitor services and data to ensure accurate and consistent high quality

  9. Engagement

    Set clear expectations for engagements | Tailor approach to engagement by asset class | Work with stakeholders to achieve outcomes

  10. Collaboration

    Partner with peers to encourage specific change | Support initiatives to address systemic risks

  11. Escalation

    Develop processes to alter tactics when stewardship isn’t effective in achieving outcomes | Consider collaboration, public statements, and other means of influencing change

  12. Exercising rights and responsibilities

    Strategically use rights associated with asset classes to influence best practices | Protect and enhance rights where possible to maximize influence


Download our stewardship report to learn more about our culture of stewardship, our focus on risk management, and how our active ownership practices are driven by our client and stakeholder focus.

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