ACTIVE OWNERSHIP


We believe that companies with good corporate governance practices and engaged shareholders are more likely to achieve the superior long-term financial performance that our members need. Strong governance in the companies in which we invest ensures they will manage all of their risks and opportunities appropriately, including those related to environmental and social factors.

By actively engaging with the companies in which we invest and, where appropriate exercising our voting rights, we can have a positive influence. This helps us to enhance long-term investment returns for our beneficiaries.

Stewardship codes


Find out more about the stewardship codes that we support and how they help shape our voting activity.

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Voting policies


Click here to see our Global Voting Policy and our Japanese Corporate Governance Policy.

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Voting records


In this section you can find out more about how we have put the Codes and Policies into practice by voting our shares.

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AGM statements


In this Section you can read our Annual General Meeting (AGM) statements for companies that we have engaged with on key issues.

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Stewardship codes


FRC UK Stewardship Code


We were a launch supporter of the new UK Stewardship Code for Investors which is reflected in our Statement of Investment Principles (SIP). We make a public declaration of our own compliance with the Code on our website and encourage our external fund managers to adopt it.


Compliance Statement May 2018

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Japan Stewardship Code


We support the Japanese Stewardship Code’s aim of promoting the sustainable growth of investee companies through investment and dialogue. We believe that this will enhance returns for our beneficiaries. Although the Code is addressed in the first instance to asset managers, we recognise it will only be effective if both investors and asset owners like us apply it.


Compliance Statement May 2018

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Voting policies


Japanese Corporate Governance PolicyRPMI Railpen 2018


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Global Voting PolicyRPMI Railpen 2018


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Voting Records


We are also committed to transparency and on this page you will find information about our voting records.

All Voting records (excluding Japan) since 1 January 2016
We publicly disclose our voting records for all company meetings (except Japanese meetings) that have taken place since 1 January 2016. Disclosure is subject to a waiting period of three months from the end of the month in which the meeting is held so that we can provide transparency without undermining our dialogue with companies. You can find these records on an externally hosted website powered by ISS.

AGM STATEMENTS