7 September 2022
We are delighted to report that following assessment of our by the Financial Reporting Council (FRC), Wiltshire Pension Fund has been successful in gaining 2020 Code Signatory status.
What is Stewardship?
Stewardship is defined by the PRI (UN supported Principles for Responsible Investment) as "The use of influence by institutional investors to maximise overall long-term value including the value of common economic, social and environmental assets, on which returns and clients' and beneficiaries' interests depend". The Stewardship Code 2020 defines it as "the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society".
Code Signatory status represents a great achievement for the Fund. Stewardship is dynamic and there were some areas the FRC identified where activity and reporting could develop further. In November, the FRC will also publish its Effective Stewardship Review of reports submitted in Spring 2022. This will give more detail about expectations, include examples of effective reporting and identify where improvements are expected in 2023 which Wiltshire Pension Fund will use for refining its stewardship report next year.
Please see UK Stewardship Code | Financial Reporting Council (frc.org.uk) for more information on the Code, Wiltshire Pension Fund's signatory listing and details of other Asset owner, Asset manager and Service provider signatories.