Signatory to the UK Stewardship Code
We're pleased to share our latest Stewardship reports as part of our commitment to the Financial Reporting Council's UK Stewardship Code, which we have been a signatory of since 2023.
The Code sets out principles designed to raise standards of stewardship across the investment industry. It focuses on how organisations manage and oversee investments responsibly to create long-term sustainable value for clients and beneficiaries.
Being a signatory means showing how we put stewardship into practice, through strong governance, engagement and clear reporting on our decisions and outcomes each year.
2025 reports
This year, the Code’s reporting requirements have evolved. As a result, our disclosures are now presented in two parts:
Activities and outcomes report
This report sets out the actions we’ve taken over the year and the outcomes we’ve delivered.
Policy and context disclosure
This disclosure explains our approach to stewardship, including our governance, resources and policies.
2025 highlights
Default enhancements
Enhanced ESG integration in our second largest default strategy, Aegon LifePath (£12 billion).
Decarbonisation
Continued to implement our net zero transition plan, with both our £500 million in climate solutions by end 2026 target, and our 50% decarbonisation across our default funds target, on track for successful completion.
Private markets investment
After the successful launch of three brand new Long-Term Asset Funds (LTAFs), we made our first investments into private market assets.
Manager assessment improvement
Optimised our annual asset manager due diligence questionnaire to focus on our key managers and include specific asset class questions.
Strategic group collaboration
Leveraged Aegon Group’s collective scale to amplify our stewardship impact through collaborative engagements with Aegon Asset Management, driving clearer climate policy strategies and nature-related disclosures across our highest-emitting shareholdings.
The value of investments may go down as well as up and isn't guaranteed. Investors may get back less than they invest. Decarbonisation target measured using carbon footprint across our full range of default funds. The target doesn't apply to individual funds. Target applies to scope 1 and 2 emissions from listed equities (shares) and corporate fixed income (bonds) only.
If we invest intentionally and carefully, and by managing risks – including ESG-related risks – we are more likely to meet our company purpose and deliver long-term value for our customers.
We have enabled 700,000 members of the £14 billion Universal Balanced Collection (UBC) to invest in institutional grade private markets, which will offer real-world sustainability benefits.
