Rothesay joins UK Stewardship Code
We have become a signatory to the Financial Reporting Council’s UK Stewardship Code (‘the Code’).
With over £50 billion of assets under management, Rothesay joins the group of signatories to the Code following an extensive review process which considered organisations’ investment styles, sizes and types.
The Code sets high standards of stewardship for those investing money on behalf of UK savers and pensioners. To become a signatory, organisations have to demonstrate stewardship over the previous 12 months through the responsible allocation, management and oversight of capital which creates long-term value for beneficiaries and leads to sustainable benefits for the economy, the environment and society.
In addition to the Code, Rothesay is also a member of the UN-convened Net-Zero Asset Owners Alliance and is a signatory to its Principles for Responsible Investing. In 2022, Rothesay announced that its own operations were carbon neutral (a year ahead of target) and that the Group had achieved a 7% reduction in the Carbon Intensity of its investment portfolio between 2020 and 2021.
Speaking about the Code, David Land, Head of Investment Strategy at Rothesay, said: “Ensuring the principles of stewardship are embedded across the management of our asset portfolio is a fundamental part of our long-term investment strategy and our commitment to providing our policyholders with security for the future. We are pleased to become a signatory to the Code and to support the Financial Reporting Council’s work to ensure a high level of stewardship is achieved throughout our industry.”