Business, Innovation and Skills CommitteeWritten evidence from the Financial Reporting Council

You asked how best to calculate the proportion of the UK market managed by signatories to the UK Stewardship Code.

The most recent data we have on this is from the IMA Stewardship Survey, which was published last month at

The IMA reported that the 103 respondents to this year’s survey included 73 managers who are responsible for £702 Billion of UK equities representing 36% of the UK market.

As we discussed, the Code currently has 283 signatories, which comprises 203 Asset Managers, 67 Asset Owners and 14 Service Providers (1 organisation is listed as both an asset manager and a service provider). Given not all signatories responded to the IMA survey, although most of the largest managers did respond, it would therefore be reasonable to say the overall total is slightly higher than the IMA’s figure.

Jocelyn Brown
Corporate Governance Adviser
Codes & Standards Division

11 July 2013

Prepared 24th July 2013