26 MARCH 2024 | PRESS RELEASE: Invesco joins the ACT Alliance as a partner of City Hive pledging to build back trust for the investment management industry through transparency.

Invesco joins the ACT Alliance as a partner of City Hive pledging to build back trust for the investment management industry through transparency.

 As part of their commitment to transparency and accountability, Invesco is proud to announce its partnership with City Hive and has joined the ACT (Action, Challenge, Transparency) Alliance. 

By refocusing on good corporate culture, we devote attention and energy to the industry’s transformative role in sustainable wealth creation. In delivering on our promises, we can rebuild public trust to ensure everyone is able and open to investing for their future.

Invesco was a founding signatory to ACT in May 2022 alongside nine other asset managers.  The disclosure framework provides a standardised way for investment companies to understand, create and progress cultural change – and to be able to communicate progress effectively via reporting. Signatory firms are contributing to a growing body of data on firm approaches and industry practice.

City Hive developed the ACT Framework and Standard with and for the investment industry to focus attention on investment management culture and values. ACT was designed to capture operational social and governance factors that explicitly support progress on culture and inclusion, and to create norms on these topics. ACT’s structured disclosure enables firms to pinpoint good performance, where to improve and how to create the challenge to do so, within a predictable framework to communicate to stakeholders.

Sachin Bhatia, Head of UK Pensions & EMEA Consultant Relations at Invesco says: “Corporate culture is increasingly becoming a key consideration when clients are evaluating managers and determining if they want to work with a particular firm or manager. At Invesco we have always valued an inclusive culture, as we believe it leads to a collaborative approach, better decision making and ultimately better outcomes for our clients and our staff. As founding signatories to ACT we have always understood and supported the need for this innovative framework, and we are now excited to be able to partner with City Hive to further develop the adoption and evolution of this framework, with a particular focus on the Institutional market.”

Bev Shah & Mandy Kirby, Co-CEOs, City Hive concludes: “We are proud to have Invesco standing with us and supporting our mission to democratise access to investing and investments. Only by being transparent and honest about who we are can we build back public trust in the investment management industry. By partnering with us and joining the ACT Alliance Invesco has committed to collaborate to correct a complex global challenge to create and maintain stakeholder trust.  Working collectively, we can reach the tipping point for change, starting by moving the conversation on culture onwards through transparency and then trust.”

ACT Signatories recognise that investment companies play an increasing role in shaping an equitable and sustainable society, as they drive global change and action via their investment practices. The expectations of stakeholders, from clients and employees to wider society, is for investors to demonstrate evidence that value creation and stewardship of wealth is in responsible hands because they are a responsible business.