Multi Provider Framework Agreement for the Provision of Stewardship Services Primarily in Support of the Local Government Pension Scheme (LGPS)

Norfolk County Council (as Administering Authority for Norfolk Pension Fund), on its own behalf and on behalf of City of Bradford Metropolitan District Council (as Administering Authority of the West Yorkshire Pension Fund), East Sussex County Council (as Administering Authority of East Sussex Pension Fund), South Yorkshire Pensions Authority, Tameside Metropolitan Borough Council (as Administering Authority of the Greater Manchester Pension Fund), Wirral Council (as Administering Authority of the Merseyside Pension Fund), West Sussex County Council (as Administering Authority of West Sussex Pension Fund) and Wolverhampton City Council (as Administering Authority of the West Midlands Pension Fund) have let a multi-provider framework agreement for the provision of Stewardship Advisory Services primarily in support of the Local Government Pension Scheme (LGPS).

Voting and Engagement services including, but not limited to:

• Ability to provide full global voting coverage
• Formalisation of a voting policy informed by client beliefs leading to an agreed voting template. Assisting in the formulation of agreed voting templates in line with client requirements
• Delivery of voting execution and voting related engagement in line with client policies
• Providing support on voting and voting related engagement issues
• Identifying evolving voting themes which may impact upon client policies and reputation
• Advising on best practice in voting policy and execution
• Key analysis and reporting of trends in voting behaviour and activity and post-vote reporting
• Benchmarking fund manager voting intentions relative to the client's voting policy
• Supporting clients with stewardship-related compliance e.g. UNPRI, UK Stewardship Code etc.
• Supporting clients with internal and external communication with regards to stewardship policies
• Ability to meet bespoke reporting requirements
• Ability to align voting and engagement activities
• Ability to allow individual funds to vote differently to Pool
• Assisting the client to engage with investee entities across the portfolio as defined by the client
• Identifying and prioritising fund engagement activities by issue and company
• Identifying key engagement risks within client portfolios
• Identifying the optimal engagement strategy in line with the client's investment portfolio
• Identifying opportunities for clients to collaborate to secure more cost-efficient and effective engagement outcomes
• Undertaking engagement activity on behalf of clients.
• Supporting the integration of engagement best practice into investment processes and decision-making
• Supporting the client in their engagement with policymakers and regulators with regard to active ownership
• Provision of ongoing training for clients in relation to engagement
• Provision of regular monitoring reports and analysis of engagement activities undertaken
• Analysing the effectiveness of engagement activity
• Identifying key stewardship risks within client portfolios
• Analysing the effectiveness of active ownership policies
• Co-ordination of Collaborative initiative and Shareholder resolutions
• Ability to provide a service tailored to different geographies and the ability to engage with companies worldwide decided on by ESG criteria
• Identifying industry developments which may impact upon client policies and reputation
• Supporting the Scheme with defining objectives of engagements at manager or at issuer level, and what plans there are for escalation should these fail.