The Wales Pension Partnership (WPP), made up of eight Welsh LGPS, has appointed Hymans Robertson as its oversight adviser, which will see the firm provide oversight and advice on governance arrangements, operator services, strategic investment aspects and project management support.

The contract is for an initial three years with the potential for a two-year extension.

WPP said it was “impressed by Hymans Robertson’s track record of providing LGPS-focused investment strategy advice as well as their knowledge and experience of the ACS Operator market.” The firm was “also able to evidence their strength in investment governance services and project management,” it said.

Separately the pool said it has appointed Robeco UK, a branch of Robeco Institutional Asset Management as its voting and engagement provider.

Robeco will assist the WPP in formulating and maintaining a voting policy and engagement principles that are in keeping with the Welsh Constituent Authorities’ membership of the Local Authority Pension Fund Forum. The asset manager will take responsibility for implementing the voting policy across WPP’s £5 billion active equity portfolio and reporting to WPP and the underlying funds.

Robeco will also provide reporting and training on the WPP’s engagement activities at both a pool and constituent authority level.

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Published: June 1, 2020
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