This report presents the findings of the NAPF’s ninth annual survey of pension funds engagement with investee companies.

The survey shows that pension funds are continuing to understand and get to grips with their stewardship responsibilities as set out under the Stewardship Code. More funds are committing to Code and to its Principles and their expectations of their current and prospective investment managers are increasing in turn.

The Report also suggests that the commitment of other signatories to the Code, such as the investment consultant community, appears to be diminishing and poses a concern.

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