Stewardship survey
IMA’s report on adherence to the FRC’s Stewardship Code looks at the activities that support institutional investors’ commitment to the Code in the period to 30 September 2010.
It summarises the responses of 41 Asset Managers, seven Asset Owners and two Service Providers to a questionnaire that had been developed under the direction and oversight of a Steering Group chaired by the FRC’s Chief Executive. The survey demonstrated:
- over 90% of institutional investors vote all or the great majority of their UK shares; nearly two thirds now publish their voting records;
- at the date of the survey, 43 out of 50 respondents had published a statement on adherence to the Code, and another six have done so subsequently; and
- the 48 institutional investors in the survey employ over 1,300 people on stewardship activities.
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The report also focuses on how institutional investors dealt with six controversial issues on matters such as remuneration, Board composition, environmental concerns, mergers and financing. Each issue saw high levels of engagement by investors with the relevant companies which took a variety of forms, including meetings at senior Board level, consultation with other investors, and in one case site visits. |
“Stewardship in Action”
The above report was launched at an event on 24 May – Stewardship in Action.
Presentations from the Event:
- Liz Murrall, Director, Corporate Governance and Reporting at the IMA
- Lindsay Tomlinson, Chairman of the National Association of Pension Funds
Speeches from the Event:
- Liz Murrall, Director, Corporate Governance and Reporting at the IMA
- Stephen Haddrill, CEO Financial Reporting Council
Past surveys
In the past IMA surveyed its members adherence to the Institutional Shareholders’ Committee’s Statement of Principles on engagement and and certain other related matters raised by interested parties. The last survey is here.
View Report - June 2007
View Report - June 2006
View Report - January 2005
View Report - March 2004