This seems to correspond with a revised terms of the reference for the Institutional Investor Committee, which looks to be focusing back on lobbying on policy.
Chairman James Anderson Partner, Baillie Gifford Peter Harrison Global Head of Equities, Schroders Claudia Kruse Managing Director, Governance and Sustainability, APG Ida Levine Director & Senior Legal Counsel, Capital International Richard McIndoe Head of Pensions, Strathclyde Pension Fund Sacha Sadan Director of Corporate Governance, LGIM Victoria Sant Investment Manager, The Wellcome Trust Robert Talbut Chief Investment Officer, Royal London Asset Management
IIC revised Terms of Reference (updated May 2013)The Terms of Reference of the IIC are as follows:
Following the authority given to it by its member associations, the Institutional Investor Committee will:
- Complement the policy work undertaken by its member organisations, facilitating better co-ordination and establishing a single voice on issues of common interest;
- Focus on policy issues which impact institutional investors and their stewardship of investee companies;
- Represent the interests of institutional investors to governments, regulators and other relevant bodies in the UK, EU and Internationally;
- Co-ordinate engagement with relevant organisations on relevant policy issues, however, will not seek to coordinate direct investor engagement with companies, this being considered more appropriately coordinated by investors themselves.
So under the last bullet the IIC loses the stewardship/engagement role (which, if you remember, was what it was originally supposed to be all about) but the trade bodies will collaborate over lobbying policymakers.