Provision of Global Stewardship Services for LGPS Central
Awarded 03 Oct 2018
About
Wolverhampton City Council awarded a contract to Hermes Equity Ownership Services Limited for the provision of stewardship services, covering shareholder voting and engagement, to LGPS Central.
The contract, valued at AUD 1,120,000, required a supplier capable of engaging and voting in a manner that supports the long-term economic interests of clients and partner funds, and aligns with LGPS Central's vision of responsible investment.
The supplier was expected to provide voting and engagement services to members of the investment team, demonstrate global coverage, high-quality research, intimate knowledge of companies, clear understanding of global corporate governance standards, and a systemic appreciation for financial materiality.
The preferred supplier also needed to offer an excellent suite of reporting materials, both off-the-shelf and client-customised, and strive for continuous improvement and cost efficiency.
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