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PP Monthly Digest: March 2021

PP Monthly Digest: March 2021
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Unacceptable : Asset managers leave pension funds in the dark

“Unacceptable”: Asset managers leave pension funds in the dark Mar 15, 2021 By Funds Europe Asset managers are keeping UK pension trustees in the dark on how they oversee their investments, research has suggested. A study by Dalriada Trustees and Minerva Analytics found that the majority of asset managers were unable to provide details of how they engaged with investee companies. The UK’s minister for pensions and financial inclusion, Guy Opperman, has said that it is “totally unacceptable” that fund managers are “unable or unwilling” to respond to information requests from pension funds.  Out of 43 asset managers analysed in the study, only a third could give information on how they had used their voting influence as investors.

Pension trustees kept in the dark by asset managers

‘We need to be able to show what action we are taking in terms of voting and engagement’ “It’s totally unacceptable that fund managers are unable or unwilling to respond to reasonable requests from pension funds for information on how their votes were cast,” pensions minister Guy Opperman said in response to a report that found trustees are struggling to get hold of some basic information. Dalraida Trustees surveyed 43 asset managers and found most were unable to provide details of how they exercised their voting rights or engaged with the companies they invest in. Only 33% were able to provide details of how they had used their influence in voting as investors.

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