Thursday, 8 November 2007

NAPF makes Myners recommendations

The NAPF has released its analysis of pension fund progress in implementing the Myners principles, and recommendations for change, see here. As far as I can see they want a slimmed down approach, but I'll cover in more detail once I've read the doc properly.

They recommend the following principle on 'responsible ownership', which doesn't say anything new really:

(5) Responsible ownership - Trustees should adopt, or ensure that their investment managers adopt, the Institutional Shareholders’ Committee Statement of Principles on the responsibilities of shareholders and agents. A statement of the scheme’s policy on responsible ownership should be included in the Statement of Investment Principles. Trustees should report periodically to members on the discharge of such responsibilities.

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