The Future of LGPS in the UK
As cited in IPE on the 20th of September, UKSIF Chief executive Simon Howard reiterated his concerns over the powers of the secretary of state to change the direction of investment strategies. UKSIF had already voiced concerns over the blatant exclusion of reference to investment decisions based on extra-financial criteria, which is in contradiction with the Law Commission report on fiduciary duties. Published in 2014, the report recognised these issues as legitimate and relevant.
We wait, as the Government is to publish new investment regulations later this year.