The UK Stewardship Code

The UK Stewardship Code was first introduced in 2010, setting the benchmark in the UK for institutional investors to meet ownership responsibilities in respect of their holdings of UK equities. The Code is voluntary and operates on a comply or explain basis. The Financial Reporting Council, the independent regulator overseeing financial reporting, accounting & auditing and corporate governance, monitors compliance with the Code.

M&G has been supportive of the Code since its inception. As an asset manager, we seek to add value for our clients by pursuing an active investment policy through portfolio management decisions, maintaining a constructive dialogue with management and by voting on resolutions at general meetings. Our investment teams and dedicated Corporate Finance & Stewardship team are committed to active engagement with investee companies to enhance value for our clients.

We recognise the importance of accountability to our clients for the stewardship of their assets and comply fully with all of the Code’s principles in respect of UK-listed equity investments.

M&G’s approach to stewardship and governance is detailed in the Responsible Investment section of our website (Issues Arising from Share Ownership). Our compliance with the principles of the UK Stewardship Code is detailed on the following pages. We obtain independent assurance of our compliance with the Code, a copy of our Stewardship Assurance Opinion can be found on the M&G website.

At M&G, we aim to generate superior long-term returns for our investors. Whether we are investing in equities, fixed income or property, we see ourselves as stewards of our clients’ assets and take seriously the responsibilities that come with this. The approach taken by the fixed income, real estate and multi asset teams is outlined in the Responsible Investment section of our website.

For further information on our stewardship or corporate governance approach please contact Rupert Krefting, Head of Corporate Finance & Stewardship (

M&G’s approach to Stewardship is outlined below:

For Investment Professionals only. The distribution of this document does not constitute an offer or solicitation. Past performance is not a guide to future performance. The value of investments can fall as well as rise. This document is issued by M&G Investment Management Limited. The services and products provided by M&G Investment Management Limited are available only to investors who come within the category of the Professional Client as defined in the Financial Conduct Authority’s Handbook. They are not available to individual investors, who should not rely on this communication. Information given in this document has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept liability for the accuracy of the contents. M&G does not offer investment advice or make recommendations regarding investments. Opinions are subject to change without notice. M&G Investments is a business name of M&G Investment Management Limited and is used by other companies within the Prudential Group. M&G Investment Management Limited is registered in England and Wales under number 936683 with its registered office at Laurence Pountney Hill, London EC4R 0HH. M&G Investment Management Limited is authorised and regulated by the Financial Conduct Authority.