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Hermes to adopt Japan code
15 April 2014
Japan latest nation to create guidelines
Hermes Fund Managers
Hermes Fund Managers and its engagement team Hermes Equity
Ownership Services (EOS) have signalled their intention to
become one of the first signatories to Japan’s new
Institutional investors have until the end of May to join the
initial list of signatories to the code, which is officially
known as the Principles for Responsible Institutional
Investors. Hermes EOS worked closely with Japan’s
Financial Services Agency on the drafting of the
comply-or-explain code and responded to its public
Saker Nusseibeh, chief executive officer Hermes Fund Managers
said, "The development of the code represents a switch from a
traditionally rules-based corporate culture to one based on
principles combined with a comply-or-explain approach."
Colin Melvin, chief executive officer Hermes Equity Ownership
Services said, "The development of the principles represents a
significant step forward in responsible investment and
ownership activities in Japan. It is also a sign that
stewardship activities are spreading around the world."
Following the launch of the UK Stewardship Code in 2010, the
Dutch corporate governance forum Eumedion developed the
so-called best practices for engaged ownership and the European
Fund and Asset Management Association (Efama) produced its Code
for External Governance.
South Africa launched the Code for Responsible Investing in
South Africa (Crisa) and Switzerland developed the guidelines
for institutional investors governing the exercising of
participation rights in public limited companies.
Italy’s Stewardship Code was published in late
2013 and Malaysia is set to publish its Code for Institutional
Investors later this year.