Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Biggest FTSE investors join to force higher corporate standards

Biggest FTSE investors join to force higher corporate standards

The largest investors in the FTSE 100 are to combine in a new oversight panel on corporate governance, enforcing auditing, management and pay standards.

The creation of the Investor Forum, a key recommendation of John Kay’s report into City short-termism, will be supported by the Investment Management Association, the Association of British Insurers and the National Association of Pension Funds.

The body will off investors, including significant overseas institutions, a common platform to enforce agreed standards of governance and policy failures.

Action groups led by significant investors in individual companies will engage with boards and issue recommendations on action by other shareholders, reported the Financial Times.

The establishment of a single body to represent equity owners was a key plank of professor John Kay’s 2012 report into ways to improve the workings of the UK stock market.

Critics have claimed that too many shareholders have their own agendas however, and that finding common ground on many issues may prove impossible.

Baillie Gifford partner James Anderson, chair of the working group which is to launch the initiative, told the FT: ‘We insist that improvements in the collective engagement process are not a chimera.

‘The Investor Forum will drive cultural change and act as a mechanism for investors to work together more effectively.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter