Thursday, December 02, 2010

LAPFF Conference 2010 - Stewardship: New Strategies for Corporate Governance.

The Local Authority Pension Fund Forum (LAPFF) is an association of 52 UK based public sector pension funds who manage over £90 billion of assets.

LAPFF exists firstly to protect local authority pension investments. It also uses members shareholdings to promote corporate social responsibility and corporate governance in the companies that we part own. LAPFF hold an annual conference in Bournemouth every year.

There were over 150 Councillors, pension fund officers and the investment fund industry representatives registered. I was there with other LGPS trade union reps. I last came 4 years when I took part in a panel debate on governance.

Despite the heavy snowfall most delegates and speakers were able to get here in time. I’ll try and post on some of the highlights and things that I thought interesting. Please note the usual disclaimer about the literal accuracy of all my hurried note taking.

Chair of LAPFF Ian Greenwood (Leader of Bradford Council) started the conference with an Actuary joke (specialist financial advisers to pension funds). An Actuary dies and goes to heaven. At the pearly gates St Peter asks the Actuary what he had done in his 127 years on earth to justify going to heaven? The Actuary replies he is only 84 years old not 127? St Peter replies “No, you must be 127 I have seen the hours you have charged” (Well, I thought it was funny).

I’ll post on the speakers and debates later.
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