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The Local Authority Pension Fund Forum (LAPFF) brings together a diverse range of local authority pension funds with combined assets of over £40 billion. The LAPFF report, 'DELEGATING SHAREHOLDER ENGAGEMENT Local Authority Pension Funds and Fund Managers: Best Practice Guidelines',has found that while nearly two thirds of pension funds delegate all engagement activities to their fund managers, most investment committees are at an early stage of evaluating the effectiveness of engagement. Consequently the Forum has published best practice guidelines. The guidelines focus on the regular (usually quarterly) report from fund managers because this is the main opportunity trustees have to quiz their agents and assess whether engagement activities are adding value to the fund. The expectation is that a more ‘active’ engagement between the pension funds and their fund managers will be the route to improving transparency and accountability for mutual benefit. Copies of the 'Delegating Shareholder Engagement' which include the best practice guidelines are available without charge from www.lapfforum.org
041213_Best_Practice_Guidelines.pdf [334 KB]