This report presents the findings of the NAPF’s tenth annual survey of pension funds engagement with investee companies. The core findings of this year’s Engagement Survey are:

• There is a near consensus from pension funds that they have stewardship responsibilities.
• The vast majority (80%) of respondents are taking the stewardship activities and policies of managers into account when selecting managers.
• Over a quarter of respondents have active equity mandates which stretch beyond a decade and indeed over two thirds of passive equity mandates exceed a decade.
• Not a single respondent disagreed with the assertion that consideration of risks to a company’s long-term sustainability, such as environmental, social or governance factors (often referred to as “ESG” factors) is compatible with a pension fund’s fiduciary duty.

Download