Greater Manchester Pension Fund (GMPF) has delegated the exercising of voting rights attached to its direct shareholdings in companies to Pensions & Investment Research Consultants Ltd (PIRC).
PIRC are an independent corporate governance and shareholder advisory consultancy that advises and provides research to GMPF on Environmental, Social and Governance issues. This will mean that GMPF’s votes are typically cast in line with PIRC’s voting policy. This aligns GMPF’s approach with that of its pooling partners, Merseyside Pension Fund and West Yorkshire Pension Fund, enabling a shared voice on corporate governance issues. With this delegation, GMPF's voting record is predeclared and provided online.
In a new development, we are now providing a quarterly summary of voting records for the latest 12 months. One of the main benefits of this is that the summary includes a detailed rationale for those votes which we have cast against company management. We always cast our votes in the interests of maximising long term shareholder value.
These voting summaries can be viewed under the ‘GMPF voting activity and records’ section on our How does GMPF invest? webpage.