New ‘Stewardship Hub’ improves pension fund transparency
The hub empowers clients and trustees to engage with fund managers on ESG issues
Spotted: Around $35 trillion (roughly €34.3 trillion) in capital is held by pension funds worldwide, but many people don’t know where their pension is invested. UK-based financial services company Fidelity International and fintech Tumelo’s new ‘Stewardship Hub’ gives clients and trustees the insight and information they need to engage with fund managers on the issues that matter to them.
The hub enables clients and trustees to see where their pension is invested, while fund managers can find out pension fund members’ preferences on issues from climate change to gender equality, enabling them to better invest in the interests of their clients.
Anne-Marie Brennan, Platform CIO and Head of Products at Fidelity International, described the hub as a market first, saying: “This centralised Hub enables better visibility, analysis and communication between fund managers and trustees, ultimately benefiting the thousands of members who look to their pension providers to represent their voices.”
The hub will piloted by Fidelity Master Trust clients, who will provide feedback as it is rolled out in phases.
The financial sector has huge potential to influence the progress of companies and countries towards a sustainable future. Springwise has identified several other ventures which seek to enable socially responsible investing, including a data provider which uses machine learning to measure the social and environmental impact of companies and investment portfolios and a funding platform designed for climate startups.
Written By: Joanna Robertson
4th August 2022