Singapore Stewardship Code expected to be launched by year-end

Singapore

AN INDUSTRY working group could launch Singapore's first Stewardship Code by the end of the year, laying out how investors should use their powers as shareholders, according to Hans-Christoph Hirt, co-head of Hermes Equity Ownership Services.

"So-called stewardship codes for institutional investors have been adopted in many markets around the world, including Japan, Malaysia, Hong Kong and Taiwan," he said via e-mail. "We have contributed to the development of stewardship principles for investors in Singapore. They are due to be launched later this year."

The working group - which includes the Stewardship Asia Centre, the Singapore Institute of Directors (SID), the Investment Management Association of Singapore (Imas) and the Securities Investors Association o…