The Financial Reporting Council (FRC) today published the first Stewardship Code for institutional investors.
Commenting on the Code, David Paterson, NAPF Head of Corporate Governance, said: “The NAPF is supportive of the Code, which marks a material advance on the ISC (Institutional Shareholders’ Committee) principles that were first published several years ago. “Implementation of the Code does present some challenges for pension funds of all sizes. As a first step, funds should re-examine their approach to stewardship, and discuss with their advisers and investment managers how to best apply the
Code’s provisions to their own particular circumstances.
“The NAPF published preliminary guidance on the Code in February, and we
plan to update it shortly.”
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