Dutch asset manager Robeco to adopt Korea’s stewardship code

Robeco Institutional Asset Management B.V., a Dutch investment management company, has joined two other foreign institutional investors to abide by Korea’s stewardship code, a set of guidelines that encourage institutional investors to exert voting rights and be more active in corporate management.

According to Korea Corporate Governance Service on Thursday, Robeco unveiled its latest stewardship policy report on its Web site, saying it “acts fully in accordance with the Korean stewardship code.”

Following the latest move, the Dutch asset manager has become the third foreign institutional investor adopting Korea’s guideline that was introduced in the country in December, last year, to allow institutional investors including pension funds and asset managers to be more involved in corporate management to maximize shareholder benefit.

Prior to Robeco, Hong Kong-based investment firm Oasis Management Company and U.S. investment firm Dalton Investments LLC officially announced to support Korea’s stewardship code in line with growing demand for sustainable growth of companies through investment and dialogue.

Robeco is a Netherlands-based management company founded in 1929 with 267 billion euros worth of funds under management as of September. It is known to reflect environmental, social, and governance (ESG) factors when making investment decisions and promote factor investing. The company provides investment services to global pension and sovereign funds.

More than two thirds of global investors from 20 countries have adopted stewardship code in five countries including the United States and Australia that have introduced guidelines this year. In Korea, 53 firms including 16 asset managers and three securities firms are expected to sign up for the stewardship code.

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