Senior representatives of some of the UK’s largest pension investors have been appointed to the steering committee of the recently launched Investor & Issuer Forum.

In addition to the founding members, the steering committee now includes Laura Chappell, chief executive officer of the Brunel Pension Partnership, one of the UK’s eight local government pension asset pools, and Elizabeth Fernando, chief investment officer of NEST, the UK’s default automatic enrolment scheme.

Launched in September 2024, the Investor & Issuer Forum (I&IF) is an expansion of the Investor Forum, a low profile but serious UK stewardship body that was created on the back of the 2012 review of UK equity markets and long-term decision-making by academic Jon Kay.

The Investor & Issuer Forum, in turn, was created following a study of interactions between UK companies and investors, calling for an elevation of the quality of communication between boards and investors.

Chris Kinder, CEO of the Investor Forum, said the creation of the new initiative “shows the London market at its best, innovating in the interests of all market participants”.

“As the investment landscape evolves around us, the I&IF will bring together senior representatives from the investment and corporate worlds to reduce points of friction in the London equity market.”

One point of contention, at least from the buy-side’s point of view, is the regulator’s recent overhaul of the UK listing rules, which included more leeway for companies to adopt dual share class structures. The overall aim is to attract more companies to list in London after years of declining IPO numbers.

Proof-of-concept

The Investor & Issuer Forum is currently in a proof-of-concept phase, during which it will be backed by the London Stock Exchange (LSE).

In addition to the Brunel and NEST representatives, the steering committee now also includes asset managers in the form of Hendrik du Toit, founder and CEO of NinetyOne, and Catherine Flockhart, partner of Baillie Gifford. Heavyweight corporate representation is on board in the form of Cressida Hogg, chair of BAE Systems, Andrew Duff, chair of Sage, and Paula Reynolds, chair of National Grid.

The founding members are Michael McLintock, chair of the Investor Forum, Jonathan Symonds, chair of GSK, Rupert Soames, chair of the CBI; Mark Versey, CEO of Aviva Investors; and Sonja Laud, global CIO of Legal & General Investment Management.

Together the steering committee members are to identify priority issues and projects to inform the new body’s agenda, “focussing on practical actions to address key challenges in the market”.

It is inviting market participants to share ideas to shape the agenda.

The Financial Reporting Council and the LSE are to act as observers to the steering committee. The Investor Forum said it would continue to operate as usual, remaining independent and continuing to work on behalf of its investor members.

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