Decision details

The Committee considered an update on the Fund’s ‘Responsible Investment (RI)’ related activities.

The report provided the latest quarterly update for the Committee on the work undertaken on the Fund's behalf by Pensions and Investment Research Consultants Ltd (PIRC) in accordance with current voting guidelines and the engagement activity undertaken by LAPFF. It was noted that during the period 01 January 2015 to 31 March 2015 the Fund had voted on 441 occasions and had opposed or abstained in 27% of votes. 

The report also included an updated action plan from the Member Working Group on RI. The Committee were informed that additional resource had been allocated to this area, and a project to map work in this area was ongoing, with a view to bringing a proposal to the Committee regarding how the work was managed and aspirations for the RI work. This would be brought to the meeting scheduled for 04 September 2015.

The Committee was informed that LAPFF had proposed a mentoring scheme to support investment officers and managers working in the Pension industry. It was suggested that the Chair should be consulted and a further report brought to the meeting scheduled for 02 July 2015 for the Committee's consideration.

Resolved: - That:

(i)  The report, now presented, be noted;

(ii)  A further report on the mentoring scheme be received at the meeting scheduled for 2 July 2015.