Assessing Performance

UKFI’s objectives

The UKFI Framework Document, drawn up by UKFI and its ultimate shareholder, HM Treasury, sets out the objectives for the Company and the framework within which it will pursue them. The overarching objective of UKFI is to develop and execute an investment strategy for disposing of its investments in an orderly and active way, within the context of protecting and creating value for the taxpayer. 
Each year, UKFI publishes its Annual Report and Accounts. This document includes a more detailed set of objectives for the Company for the year ahead, pursuant to its overarching objective, and provides a summary of how we have approached our role as an active and engaged shareholder over the past year. The Annual Report and Accounts also provides information on the financial performance of the investee companies, information about its internal governance and remuneration policies, the report from the independent auditor and the Financial Statements of UKFI.

The Annual Report and Accounts is agreed by the UKFI Board and HM Treasury, including HM Treasury Ministers.

Parliamentary Scrutiny

The National Audit Office (NAO) is responsible for scrutinising public spending on behalf of Parliament, and holding Government bodies to account for the way they use public money. The NAO has produced detailed reports on the buy-back of subordinated debt by the Government’s Wholly-Owned banks (published March 2011), The creation and sale of Northern Rock plc (published May 2012), The first sale of shares in Lloyds Banking Group (published December 2013), and the £13 billion sale of former Northern Rock assets (published July 2016). More information about the National Audit Office can be found on their website:
UKFI regularly appears in front of the House of Commons Treasury Select Committee, and has also appeared in front of the Public Accounts Committee.

18th August 2017

We have been made aware that members of the public have been approached and offered loans by fraudsters purporting to work for UK Financial Investments (UKFI). Please be aware that UKFI does not offer loans or any other financial service products to consumers. Any individuals who have been approached in this way are encouraged to report this to Action Fraud. The FCA website provides steps you can take to protect yourself, and how to spot and avoid scams from unauthorised firms.

11th May 2017

UKFI Notification re: Annual General Meetings (AGM)
UK Financial Investments Limited (UKFI), which manages the Government’s shareholding in the Royal Bank of Scotland (RBS) and Lloyds Banking Group (Lloyds), has lodged votes.