M&G and Aviva among signatories of culture standard

M&G and Aviva among signatories of culture standard

M&G, Aviva Investors and AssetCo are among the founding signatories of a standard of corporate culture for investment companies.

Think-tank City Hive has today (May 9) launched a framework called ACT.

The standard - which stands for action, challenge and transparency - aims to enable professional fund buyers to enhance their firms’ diversity, equality and inclusion.

Mandy Kirby, founder of ACT, said the standard will allow the investment management industry to meet increasing scrutiny from regulators and investors head on. 

“It measures authentic change rather than shiny metrics or polished promises– by ACTing, companies can give an assurance to all their stakeholders.”

Investors look at trends and make forecasts, she said. 

“To do this they need more than data, they also need to see a direction of travel.  

“A company that can talk to stakeholders about how it has moved through the framework will give clients assurance of its commitment to progress that will ultimately lead to better outcomes for investment and people.”

Apiramy Jeyarajah, head of UK wholesale at Aviva Investors, said boosting diversity in a full and holistic manner is not simply a moral imperative; it is a commercial one. 

“Institutional investors and consultants are looking for asset managers who consistently provide alpha generation and manage risk – with diversity of thought and idea generation among the criteria they consider.”

The founding signatories for the ACT are Schroders, Lombard Odier Investment Management, M&G, Aviva Investors, Mirabaud Investments, AssetCo, Federated Hermes, WHEB, BlueBay Asset Management, Radiant ESG, TT International Asset Management, Invesco & Snowball IM.