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Strathclyde Pension Fund

PRI reporting framework 2017

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1.

Roles present in your organisation

          Director of Pensions
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The Strathclyde Pension Fund (SPF) Committee (trustees) are the ultimate decision makers and stewards of the RI policy and committment to PRI. The Fund investment manager (Richard Keery) takes the lead role in implementing the Committee decisions and directives on the RI policy. The investment manager can call on the CIO, the Director of Pensions and admininstrative support in this implementation. The Funds external investment managers play a leading role in the company facing RI efforts and since 2010 they are assisted by Stockholm based Global Engagement Services (GES) who provide a RI overlay service. GES co-ordinate the external managers engagement efforts and provide detailed research to focus the colloborative effort of the managers.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

0 Number

07.4. Additional information. [Optional]

No full time dedicated staff. However the SPF investment manager takes the lead role and dedicates ever increasing amounts of time to RI. SPF has recruited addtional staff in 2016 including an investment assistant with specific responsibilities regarding proxy voting and corporate governance. He is assisted by the dedicated overlay provider, GES. The Fund Chair has taken a more hands on role in specific RI themes in 2016 and has served as signatory to collaborative engagement letters.


SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.2. Describe any activities undertaken during the reporting year to develop and maintain Board members’ skills and knowledge in relation to responsible investment.

The Strathclyde Pension Fund Committee recieve a full RI report at each quarterly meeting. The SPF investment manager engages with the Committee (trustees) on the content. The Fund's external investment managers present to the trustees on portfolio performance and activity which includes RI work. The trustees and the Pensions Board (board of stakeholders) receive training directly prior to each respective quarterly meeting. This training is delivered by the external managers with RI content and has also been delivered as dedicated RI training by the overlay provider, GES. Officers provide annual training session for trustees which includes RI.

LAPFF is governed by an Executive Committee which serves as the main decision-making body responsible for managing the annual research and engagement work programme. The Executive Committee makes recommendations to the membership for discussion and approval at the quarterly Business Meeting. Members are able to raise questions, propose topics for review by the Executive at the Business Meeting, and participate in training provided by LAPFF.  LAPFF runs a mentoring programme to ensure that its members receive the support needed to maintain skills and knowledge in relation to their roles generally, including on responsible investment.

 

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Other C-level staff or head of department

          Director of Pensions
        

Portfolio managers

Dedicated responsible investment staff

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

As a key role for the SPF investment manager the Fund's RI efforts and activities are referenced in the SPF investment manager's PDP and job role.

The Fund's investment manager attends a wide range of responsible investment events and training opportunities every year including those run by PRI.

Undertook education or training programmes through LAPFF.

Attended a seminar on responsible investment

Had LAPFF representatives come and speak to the Fund about LAPFF’s responsible investment activities

Sought input from LAPFF on responsible investment approaches in respect of beneficiaries inquiring about the Fund’s stance on a range of responsible investment issues

 

08.4. Describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

          
        

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