Pensions Industry Group Complains To FCA Over Fund Failings

Law360, London (May 30, 2019, 5:44 PM BST) -- A leading U.K. pensions association has called on the Financial Conduct Authority to investigate the lack of transparency around fund managers' voting polices — particularly around climate change, executive pay and gender diversity — complaining of “opacity and lack of comparability.”

The Association of Member Nominated Trustees — which represents U.K. pension schemes — said a review of fund manager voting policies had found poor transparency and accountability that is preventing pension scheme trustees from operating a stewardship policy on the environmental, social and governance of the companies in which they invest via fund managers.

The trustees’ key concern is around...

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