Decision details

A report was presented regarding the decision of the Committee at the previous meeting to authorise the Chair, in consultation with the Head of Fund, to approve a revised statement of compliance with the UK Stewardship Code.

It was reported that following the meeting feedback from the FRC in response to dialogue with them by LPPI's Responsible Investment Officer, had resulted in a change of circumstances which led to the Chair approving the Fund being temporarily delisted as a signatory to the Stewardship Code until it had developed and published its first Investment Strategy Statement  (ISS).

It was noted that a separate report in relation to the approval of the ISS appeared elsewhere on the agenda.

Resolved: That the decision by the Chair to approve the Lancashire County Council Pension Fund being temporarily delisted as a signatory to the UK Stewardship Code for a period of 6 months pending the Fund's development of an Investment Strategy Statement is noted.