News

The Wales Pension Partnership (‘WPP’) is pleased to announce the appointment of Robeco UK, a branch of Robeco Institutional Asset Management B.V (‘Robeco’) as the WPP’s Voting and Engagement provider. Robeco were appointed following the completion of a comprehensive procurement exercise. Robeco’s contract will commence on 1 April 2020 and will run for an initial period of 3 years with the potential for a 2-year extension.

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 (‘LAPFF’)

Robeco will be tasked with helping WPP formulate its Voting Policy, this work will be carried out in collaboration with the eight Welsh Constituent Authorities over the course of the next six months. Following this, Robeco will take responsibility for implementing the Voting Policy across WPP’s £5bn active equity portfolio and reporting to WPP and the underlying Funds.

Additionally, Robeco will assist the WPP in framing its Engagement Principles and will undertake engagement activity on behalf of the WPP in accordance with the agreed principles. As part of its remit Robeco, will embrace WPP’s track record of collaborating with likeminded partners, policy makers and regulators to ensure that WPP achieves the most effective engagement outcomes.  Robeco will also provide reporting and training on the WPP’s engagement activities at both a Pool and Constituent Authority level.

WPP will publish its Voting Policy and Engagement Principles on this website once they have been finalised.

The WPP believes that Responsible Investment alongside consideration and evidential management of Environmental, Social and Governance issues should result in better outcomes for WPP’s stakeholders. The appointment of Robeco evidences the WPP’s continued delivery of the commitments made in its Responsible Investment Policy and its vow to exercise its voting rights in line with the interest of its stakeholders and engaging with investee companies to enhance the long-term value of the Constituent Authorities’ investments within WPP.