City Hive unveils The ACT List 2025 - ‘Fiduciary revolution is just getting started’
Think tank and advocacy group City Hive is proud to announce the new investment firms that have joined The ACT List 2025 - a definitive lineup of organisations dedicated to embracing transparency in corporate culture and value.
The ACT List includes all companies that have been a Signatory since ACT was formed in 2022, and recommitted for 2025. There are now 34 Signatories to ACT, with firms representing £12trn in assets under management, showing the growing dedication in the industry to cultural accountability. Six new names have joined year-to-date: Fidelity International, Marlborough Group, PGIM, Principal Asset Management, Rebalance Earth and Robeco Asset Management.
Emma Wall, head of platform investments at Hargreaves Lansdown and chair of the ACT Stewardship Council, commented on the recent growth in Signatories: “2025 has been a rollercoaster year so far for markets – but a rocking one for ACT. Six new signatories have joined us since the start of the year, taking our total signatory firms to 34, managing more than £12trn of assets in total.
“These firms understand that transparency around corporate culture is paramount to helping analysts and investors determine the robustness of their business and depth of their capabilities. While we will always hold our founding signatories in high regard, we are thrilled that these pioneers are now increasingly mainstream.
“This is a fiduciary revolution. And we’re just getting started.”
Co-CEOs of City Hive, Bev Shah and Mandy Kirby, said:
“Firms that are serious about growth increasingly recognise that UK clients - and the gatekeepers who influence engagement decisions - are placing greater importance on transparency around culture. These stakeholders want to see clear evidence of cultural awareness and alignment before they are willing to engage.
“For firms that haven’t taken a close look at the ACT Framework, or are not intentional about how they communicate their cultural values, this creates a risk. A lack of cultural transparency and a failure to demonstrate a genuine commitment can create friction and potentially weaken client relationships.
“We’ve seen a growing number of ACT Signatories from across markets, including firms with international operations or cross-border client bases. This reflects a broader recognition that the ACT Framework provides a shared language and set of expectations that can help firms define, develop, and communicate their culture more effectively.”
The latest Signatories are highlighted in the table below:
The ACT List
(As at 30 June 2025) https://www.investorsact.com/2025-act-signatory-members
*(Date) joined as ACT Signatory Member *2025 firms highlighted.
Growth in ACT Signatories:
2022
12 Signatories
£4.8trn AUM of Signatory firms
2023
17 Signatories
£5trn AUM of Signatory firms
2024
27 Signatories
£6.6trn AUM of Signatory firms
2025
34 Signatories
£12trn AUM of Signatory firms
The ACT Corporate Culture Standard is a disclosure framework providing a standardised way for investment companies to understand, create and progress cultural change - and be able to communicate progress effectively via reporting.The Signatory firms are contributing to a growing body of data on firm approaches and industry practice.
Following the huge growth in Signatory numbers over 2024, City Hive is now aiming to secure 50 Signatories by the end of 2025 in response to a target set by the ACT Stewardship Council of fund gatekeepers (responsible for over £2trn in assets under advice) who monitor which firms are joining or leaving the list. This provides an extra level of governance to their investment due diligence.
City Hive will be publishing The ACT List twice a year in response to feedback from the ACT Stewardship Council who view the ACT Standard as a ‘hygiene factor’ when selecting investments.
In the current climate, commitments on sustainable investment, diversity and culture are being downplayed - ‘greenhushing’ - as some view it as a fad or trend. City Hive and the ACT Stewardship Council reinforces the view that those genuinely and authentically committing to these areas will provide better financial outcomes for their clients and shareholders.
Signatories on The ACT List have committed to:
Annually completing ACT reporting on the DOOR platform, enabling the Framework to be used as a tool to assess, measure and catalyse progress on culture.
Senior accountability towards policy, action and practice that supports alignment of internal values and external commitments relating to inclusive culture.
Demonstrable evidence that value creation and stewardship of wealth is in responsible hands because they are a responsible business.
Embrace the opportunity to share ACT disclosures with clients, share ACT status and ACT Mark with stakeholders via media, website, factsheets etc.
Update progress (at least) annually.
To view Signatories for previous years:
Notes:
For more information on ACT, interview opportunities and photos please email: nataliekenway@cityhive.co.uk or visit the new City Hive Press Centre.
For more information on ACT: https://www.investorsact.com/
Or for the Stewardship Council: https://www.investorsact.com/stewardship-council
For more information on City Hive: https://www.cityhive.co.uk/