Fund managers with more than £1 trillion assets under management will be quizzed on their stewardship activities on behalf of pension savers.

The National Association of Pension Funds has launched a programme of Stewardship Accountability Forums.
Chief executives and senior representatives from Aviva Investors, Legal and General Investment Management and UBS Global Asset Management – with a combined total of £1 trillion assets under management – will participate in the first event.
Will Pomroy, policy lead for stewardship and corporate governance at the NAPF, said: "These new Stewardship Accountability Forums are an opportunity for pension funds to press some of the most senior figures in the asset management industry on their organisations' stewardship activities and whether what they say matches what they do in practice.
"Pension funds of all sizes are welcome to come along to these sessions. We are particularly keen to encourage pension fund trustees who might not usually have access to these asset managers to attend and raise questions on behalf of their members."

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Business Secretary Vince Cable said: "This is a valuable step in developing good practice in the investment and pensions industry, building on the Stewardship Code. "I welcome the NAPF's latest plans, which should help improve dialogue between asset managers and their clients on stewardship activity."
Euan Munro, chief executive at Aviva Investors, said: "Although asset managers are expected to comply or explain against the Stewardship Code, asset owners do not hold them to account to any great extent.
"It is imperative that pension trustees consider the long-term stewardship of the capital their funds are invested in as a key responsibility and this forum represents a great opportunity to progress in this area."
Stewardship activity aims to promote the long-term success of companies in such a way that the ultimate providers of capital – in this instance long-term investors like pension funds – also prosper.
These forums have been designed to build on the NAPF's Stewardship Disclosure Framework and its aims to provide greater transparency on the stewardship policies and activities of asset managers who are signatories to the UK Stewardship Code.
The first Stewardship Accountability Forum takes place on Monday, 24 November at the NAPF's offices in central London.

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