Content

To APPROVE the direct appointment of a
Social Sustainability Advisor from Lot 4 Fund’s
National LGPS Framework for Stewardship
Services (NCCT42176), to prepare an independent report on the status
and outputs of the Fund’s Property Investment Portfolios.

 

Reasons for the decision

An
allocation of 10% of Fund assets to Property Investments was ratified by the
Policy & Development Working Group on 22 June 2023.

This
10% allocation is to comprise a target of 8% for UK Property and 2% for
Overseas Property.

In
addition to the annual, internally produced reports on the UK Property and
Overseas Property Portfolios’ Strategy and Financial Performance, it is also
seen as appropriate to commission an independent report on the Social
Sustainability outputs of these portfolios.

The
National LGPS Framework for Stewardship Services (NCCT42176) Lot 4 covers
Stewardship Reporting and Projects.

This
framework enables advisors to be directly appointed.