Disclosure Statement relating to The UK Stewardship Code
The UK’s Financial Reporting Council’s Stewardship Code (the “Code”) is a voluntary code that sets out a number of principles and guidelines designed to improve the ways that institutional investors interact with the management of companies in which they invest. In addition, it proposes measures to increase the level of transparency surrounding institutional investors’ activities as shareholders for the benefit of the investors’ underlying clients. The Financial Reporting Council (FRC) has introduced a revised Code.
Barclays Wealth Management is the division of Barclays Bank UK PlC which carries out, among other services, investment management activities, predominantly in the form of multi-manager and fund of fund arrangements. We delegate the selection of assets, including shares, to other investment managers, by either investing into a fund or by giving a number of managers a portion of the money that we raise to invest on our behalf. These third party managers are selected via a thorough due diligence process and are subject to ongoing monitoring.
Whilst not being a direct signatory at present, Barclays Wealth Management supports the aims of the Code. We intend to be listed as signatories to the Code by 2021 and will provide an updated disclosure statement at the time.
Some of the requirements of the Code are set out in the revised Shareholder Rights Directive (SRD II). SRD II aims to promote effective stewardship and long-term investment decision-making via the enhancement of the transparency of shareholder engagement policies and investment strategies across the institutional investment community.
SRD II introduced requirements for asset managers to publish details of their engagement statement. Here’s our engagement statement [PDF, 182KB].
Our asset management entity, Barclays Asset Management Limited, is also a signatory of the United Nations' Principles for Responsible Investment
This statement will be reviewed at least on an annual basis.