As funds have given consideration to Myners' recommendations on activism, they are increasingly reviewing their policies on CG and SRI. The LAPFF provides the perfect customised vehicle to assist local government pension schemes in the development of policies in these areas.
 
Membership of the Forum affords councillors and officers the opportunity to join with colleagues from a large group of local authority pension funds, in developing policies in a coherent and effective way. The effectiveness of individual funds engaging in shareholder activism alone must surely be questionable. By taking a co-ordinated approach with other local authority funds, your level of effectiveness is increased and improved beyond measure. At the same time, membership of the Forum does not in any way impede your ability to act unilaterally whenever you think it appropriate to do so in the interest of your own Fund.
 
Some more specific benefits and advantages, which flow from Forum membership, are listed below:
 
1. An opportunity to have a focussed discussion with other elected members and officers representing all sorts of local authority funds, and share ideas and working practices
 
2. Access to extensive, detailed research at minimal cost due to the sharing of costs with other Forum members. Examples of such research include the receipt of regular LAPFF alerts on FTSE 350 companies with serious corporate governance failings; or Trustee Guides in a range of subject areas such as the delegation of shareholder activism to fund managers, or Mergers and Acquisitions; or briefings on areas of concern such as Climate Change.
 
3. A forum for focussed discussion on issues of concern to local authority pension funds, e.g. the ODPM review of the LGPS; the modernisation of company law; the application of the Freedom of Information Act (a subject about which the LAPFF has collaborated with the CIPFA Pensions Panel in producing guidance notes).
 
4. The opportunity to liaise and collaborate with other large non-local government funds such as the Universities Superannuation Scheme (USS) and other like-minded bodies such as the Association of British Insurers (ABI); the Investor Network on Climate Risk (INCR) and the Responsible Investors Network (RIN).
 
5. Two free places at the LAPFF Annual Conference. See events pages for more details.
 
For more info on joining LAPFF please email info@lapfforum.org