We are delighted to announce that the Financial Reporting Council (FRC) has today confirmed that Bedfordshire Pension Fund has remained a successful signatory of the UK Stewardship Code, following the latest round of applications. The Pension Fund was first confirmed as a successful signatory in February 2023.
The FRC announced the latest successful signatories yesterday morning. The aim of the Stewardship Code is to “enhance the quality of engagement between investors and companies to help improve long-term returns to shareholders and efficient exercise of governance responsibilities.” You can see more information at https://www.frc.org.uk/news-and-events/news/2024/02/frc-announces-successful-signatories-to-uk-stewardship-code/
Fund Administrator, Andy Watkins says: “We believe that good governance is a cornerstone of achieving the performance we need to deliver, both for providing the pension benefits that our members are entitled to and as the basis for demonstrating proper stewardship to our employers.”
The Chairman of Bedfordshire Pension Fund, Councillor Doug McMurdo, states: “This is a significant achievement, and the amount of work that goes into the stewardship of the Pension Fund should not be underestimated, with 240 employers, over 70,000 scheme members and £3.1 billion AUM (assets under management).
"We look after assets that will be paying beneficiaries in 50 years’ time and beyond. Whilst making effective decisions in terms of investments, we pride ourselves in aiming for a Net Zero scenario by 2050 or before, and also taking account of many other good environmental, social and governance aspects”.
“I would like to put on record my thanks to all the Fund Committee, members of staff in the pension team, our consultants and advisers.”