A UK pension task force is calling on regulators, asset managers, and the government to remove stewardship barriers that prevent pension funds from voting on issues such as climate risk management, diversity, or pay.
Currently, when UK pensions invest in pooled funds, they give up their rights to vote at the annual general meetings of the companies they invest in, according to the Taskforce on Pension Scheme Voting Implementation (TPSVI), which was established last December. Additionally, it said the vast majority of asset managers in charge of pooled funds have not always been prepared to engage with their clients’ voting preferences.
STM Group plc (LON:STM) is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group was formed as a strategic investment company specifically to build a leading financial services group originally operating in the international corporate and trustee service provider (CTSPs) sector.