Phoenix Group, the UK’s largest long-term savings and retirement business, has today been confirmed as an asset owner signatory to the UK Stewardship Code by the Financial Reporting Council (FRC).

The UK Stewardship Code sets out high stewardship standards for those investing money on behalf of people who are saving and investing for their future, such as pension savers. It looks to ensure the responsible allocation, management and oversight of capital to create long-term value and sustainable benefits to the economy, the environment and society.

At the heart of the Code is the creation of long-term value for clients and stakeholders. Acceptance to the Code reflects the holistic approach Phoenix is taking towards stewardship, and its commitment to embedding market-wide and systemic risks – particularly those in relation to ESG – into our purpose, investment strategies, processes and culture.

Sindhu Krishna, Head of Sustainable Investment at Phoenix Group, said: 

“We are incredibly proud to have been recognised under the Code for our approach to Stewardship, which has a vital role to play in our investment decision making. 2022 has been an ambitious year for Phoenix’s stewardship journey and we have set the building blocks to support an outcomes-oriented approach”.

“We note the crucial role played by our asset management partners in our stewardship journey. Our managers are at the forefront of the dialogue with invested companies and we encourage them to embrace a holistic view of stewardship as an integral part of the investment process.”

Valeria Piani, Head of Stewardship at Phoenix Group, said: 

“We will continue to focus on driving long-term positive change through constructive dialogue and engagement with investee companies. Our growing stewardship team demonstrates the highest standards towards stewardship, and we believe that monitoring, assessing and engaging with companies’ management teams on environmental, social and governance factors will drive real world change and ensure long-term value for our customers.”

“We have set ourselves objectives and targets for 2023 and beyond to be good stewards of our customers and shareholders’ assets and deliver positive outcomes for all our stakeholders.”

Enquiries

Dilesh Sangaran

PR Manager

Phoenix Group

Dilesh.Sangaran@thephoenixgroup.com