UK Stewardship code 2020

The UK Stewardship code 2020 is a set of 12 principles for asset owners and asset managers. It sets high expectations for how asset managers invest and manage money on behalf of their investors and the sustainable benefits for the asset owners, the economy, environment and society. Castlebay supports and agrees with these principles.

12 Principles:

Principle 1.  Signatories' purpose, investment beliefs, strategy ans culture enable stewardship that creates long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society.

Principle 2. Signatories' governance, resources and incentives support stewardship.

Principle 3. Signatories manage conflicts of interest to put the best interests of clients and beneficiaries first.

Principle 4. Signatories identify and respond to market-wide and systemic risks to promote a well-functioning financial system.

Principle 5. Signatories review their policies, assure their processes and assess the effectiveness of their activities.

Principle 6. Signatories take account of client and beneficiary needs and communicate the activities and outcomes of their stewardship and investment to them.

Principle 7. Signatories systematically integrate stewardship and investment, including material environmental, social and governance issues and climate change, to fulfil their responsibilities.

Principle 8. Signatories monitor and hold to account managers and/or service providers.

Principle 9. Signatories engage with issuers to maintain or enhance the value of assets.

Principle 10. Signatories, where necessary, participate in collaborative engagement to influence issuers.

Principle 11. Signatories, where necessary, escalate stewardship activities to influence issuers.

Principle 12. Signatories  actively exercise their rights and responsibilities.