Some local authority funds have been proponents of shareholder engagement for many years, and are active in their own right, but for others it remains a relatively new area and resource constraints can limit the extent of their activity. The recent introduction of the Stewardship Code has further increased the interest of funds in shareholder engagement, and many are looking for a cost-effective way to meet their responsibilities under the Code.
Joining LAPFF is the perfect way for local authority pension funds to develop their approach to shareholder engagement and responsible investment. Membership of the Forum provides councillors and officers the opportunity to join with colleagues from a wide range of funds from across the country. It offers an unparalleled resource for funds wanting to develop their approach to stewardship and responsible investment.
Individual funds engaging with companies on their own are unlikely to have much of an impact. By bringing local authority funds together to work collectively, the Forum is able to maximise their influence. LAPFF regularly meets with the directors of major companies to discuss issues of concern to its members. The Forum’s influence is not restricted to companies. It can also point to numerous examples where it has successfully lobbied on policy issues on behalf of its members.
LAPFF’s activity is driven by its members. The Forum actively involves the membership in its work programme through quarterly meetings and its high-profile annual conference. Members are also able to put forward their own suggestions for the LAPFF annual work programme. Members are kept up-to-date between meetings through a monthly bulletin and other updates.
Membership of the Forum brings considerable benefits in the fast changing world of pension fund investment. The benefits of joining include:
- Intensive engagement with more than 60 companies per year on environmental, social and corporate governance issues, plus outreach to hundreds of global companies through collaborative investor initiatives
- Access to extensive, detailed research and reports, such as LAPFF’s ground-breaking ‘post-mortem’ of the UK and Irish banking crisis
- Expert opinion and responses to government consultations on corporate governance, stewardship, capital markets and responsible investment
- Trustee Guides on subjects ranging from mergers and acquisitions to climate change
- Voting alerts for global companies’ AGMs with serious corporate governance failings
- Members-only website with exclusive content and monthly bulletin summarising Forum updates and responsible investment news
- Attendance at quarterly business meetings, including presentations from expert speakers and detailed updates on engagement and policy work
- Two free places at LAPFF's well-regarded Annual Conference
For more information on joining LAPFF please contact Keith Bray, Forum Officer.