UK – The Local Authority Pension Fund Forum has put out to tender a mandate for an adviser in the field of corporate governance.
The Forum, which brings together a diverse range of local authority pension funds with combined assets of more than 40 billion pounds (56.8 billion euros), is tendering for the procurement of research, advice and assistance.
The contract will be “a partnering arrangement to promote and assist shareholder activism with the aim of improving company performance, and enhancing returns, and monitoring issues that affect the rights of institutional shareholders.”
Says Alistair Merrick, responsible for organising the tender: “Public sector funds have a different ethos, and a higher ethical requirement. While public sector funds may be well-run, they can always benefit from specialist advice and support in order to achieve their full potential. The funds will be able to access specialist knowledge through the appointed adviser.”
The contract will run from April 2004 to April 2006. Tenders must be received by September 8.