Proxy voting services and corporate governance issues worldwide.

Descriptions

Wolverhampton City Council as administering authority for the West Midlands Pension Fund invited tenders for the provision of a proxy voting service for its direct equity holdings worldwide and corporate governance analysis and advice on these holdings, identifying any significant risks and how the Fund may protect its interests.The Fund intends to vote all of its direct equity holdings worldwide through this contract. The Fund's custodian will make available any data on the Fund's holdings electronically. The successful tenderer will undertake the voting based upon the Fund's bespoke template, or voting guidelines and advise on voting matters not covered by the template before voting. The successful tenderer will advise on the template from time to time and provide regular governance reports on corporate governance issues arising worldwide. Advice on specific issues raised by the Fund may be required from time to time, together with a risk analysis of the major governance weaknesses in the companies in which the Fund invests at least annually. Assist the Fund in engagement with companies where there are major concerns. Corporate governance includes environmental and social issues.