The LGPS Central asset pool has hired Hermes EOS, part of Hermes Investment Management, to provide it with voting and engagement services.
LGPS Central represents nine underlying local authority pension funds with assets of approximately £40 billion and over 900,000 members. LGPS Central director of responsible investment and engagement, Michael Marshall, commented: “We believe that engaging with companies leads to improved outcomes from both a financial standpoint and from a stakeholder point of view. We hope to use our influence as a shareholder to set a high standard for the wider investment community and we believe using the expertise of Hermes EOS will help us achieve our goals.”
The win is Hermes EOS’s second from LGPS asset pools, after it secured an appointment with the Brunel Pension Partnership. Hermes EOS head, Dr. Hans-Christoph Hirt, commented: “LGPS Central Limited’s objective to act as a responsible, long-term investor, promoting the highest standards of corporate stewardship is one that is shared by Hermes as an active steward, committed to creating long-term value for our clients. Our shared values recognising stewardship and responsible investment as a core part of an asset owner’s fiduciary duty will ensure a collaborative relationship.”