Resourcing sufficiency (staffing and systems) remained a strong focus in 2019. This reflects the dynamic nature of investment stewardship and the rapidly changing regulatory framework.
During 2019 LPPI has built out an RI Team.
Three Analysts were recruited to work with the Head of RI in supporting the Investment business and client pension funds in their fiduciary, asset management, stewardship and ownership responsibilities.
Increased staffing resources allow for greater coverage and concentration on priority areas including climate change, data and metrics (monitoring and reporting) and active ownership (shareholder voting and engagement).
The procurement of an external provider of engagement services concluded succesfully in late 2019. Services reflect a comprehensive specification and will commence in Q1 2020. The provider will partner with and supplement ongoing work by LPPI's existing in-house team.
Better data on underlying investments within private market asset classes are a priority focus for the RI Team's Data Analyst.
Work to improve portfolio ESG insights has focussed on gaining better look through to underlying investments which has involved system reconciliations and data cleansing in preparation for supporting improved analysis of sector-based exposures.