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Enhancing investment stewardship

We help UK pension trustees and other long-term institutional investors to use their influence as asset owners to protect and enhance the long-term value of their investments.

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Stewardship is central to responsible investment and plays a crucial role in delivering long-term, sustainable investment returns.

Furthermore, stewardship is one of the most effective investor tools to mitigate and manage financially material systemic risks such as climate change and biodiversity loss.

Effective investment stewardship can be complex, challenging and time-consuming, and for many asset owners the resources required can feel disproportionate. In addition, regulatory expectations of asset owners have increased. Unfortunately, this has resulted in more time being spent on compliance tick box reporting than action.

We are uniquely positioned to help asset owners as a market-leading investment consultancy with deep expertise on key issues and the scale to make a difference.

Our mission is to help our clients have more impact and less admin

How we can help

We have a large and experienced investment stewardship team to support asset owners with their stewardship needs. Using insights from our research and cutting-edge technology we bring actionable insights to our clients with clear recommendations to enable effective oversight of investment managers stewardship activities.  We also engage with investment managers on our client's behalf to address material concerns and drive improvements in stewardship across the industry.

We offer a range of investment stewardship services:

  • Influence

    What is it?

    Our delegated stewardship helps alleviate the challenges with stewardship and drives meaningful improvements to help managers better address risks and capture opportunities.

    Who is it for?

    1. Asset owners without the time and resources necessary to meet regulatory expectations
    2. Asset owners who want to have more impact from their engagement activities

  • Voting analysis

    What is it?

    Our market leading tool helps investors identify a watchlist of significant holdings and compares voting behaviour for a set of managers.

    Who is it for?

    All asset owners with listed equities or bonds.

  • Stewardship compliance review

    What is it?

    A review of trustees’ stewardship policies, processes and activities against regulatory expectations and best practice, with clear recommendations to address any gaps. This can help trustees assess whether their stewardship approach, manager oversight and reporting are aligned with current requirements, including support for ORA-related governance and evidence gathering.

    Who is it for?

    UK occupational pension scheme trustees seeking to strengthen stewardship governance, improve regulatory compliance and prepare for reporting including ORA.

  • Stewardship health check

    What is it?

    A high-level review of investment managers’ stewardship practices relative to best practice. It includes fund-level voting and engagement case studies and practical questions to help asset owners focus their engagement with managers. For trustees, it can also provide useful evidence and insight to support wider investment governance and ORA reporting.

    Who is it for?

    Trustees of mid-sized and smaller UK occupational pension schemes looking to meet stewardship expectations more effectively, and asset owners seeking a clearer understanding of how their managers are stewarding their assets.

  • Deep dive manager reviews

    What is it?

    Detailed bespoke in-depth research into managers stewardship practices and overall RI integration. Our comprehensive framework allows clients to see their managers strengths and weaknesses compared to industry best practice to help effectively engage with and challenge their managers.

    Who is it for?

    Large asset owners seeking to better understand the strengths and weaknesses of their managers stewardship and drive improvements.

  • Overlay provider selection

    What is it?

    Advice on the range of stewardship overlay service providers and voting choice available to asset owners.

    Who is it for?

    For asset owners that don’t want to or can’t change their investment manager but want better stewardship.

  • Reporting

    What is it?

    Support with stewardship reporting for trustees and other asset owners, including implementation statements, bespoke voting and engagement reporting, ORA-related stewardship inputs, and UK Stewardship Code reporting. We help clients turn stewardship activity into clear, decision-useful reporting that supports oversight, accountability and regulatory requirements.

    Who is it for?

    UK occupational pension scheme trustees needing support with implementation statements and ORA-related stewardship reporting; asset owners seeking bespoke voting and engagement reporting; and signatories to the UK Stewardship Code.

We help clients strengthen stewardship through practical advice, robust manager oversight and clear reporting support

Our stewardship credentials

What managers tell us

Feedback from managers engaged through LCP Influence highlights the value of our persistence, transparency and detailed feedback, with respondents saying our engagement helps encourage improvements in stewardship practices.

Talk to us about your stewardship priorities

Whether you want to strengthen manager oversight, improve voting analysis, support stewardship reporting or explore delegated stewardship, we can help.

Speak to our stewardship team

Our experts

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James Moore

James Moore

Partner
Drew Henley Lock

Drew Henley-Lock

Partner
Greg Price

Greg Price

Investment Consultant

Our latest market insights

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Client stories

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Independently verifying voting alignment for a £100bn+ European public pension fund

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How personal circumstances are reflected in heat and energy efficiency regulation

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FAQs

Investment stewardship is how asset owners and investment managers use their rights and influence to protect and enhance long-term investment value. In practice, that includes monitoring companies and managers, engaging on material issues, and overseeing voting activity. It matters for pension trustees and other long-term institutional investors because it helps support better decision-making, stronger accountability and more resilient long-term outcomes.

Stewardship is important because it helps long-term investors manage financially material risks and opportunities across their portfolios. For UK pension trustees, it is also part of a wider governance and reporting requirements. For other institutional investors, effective stewardship can strengthen manager oversight, support better ownership practices and help address systemic risks that may affect long-term returns.

Asset owners can compare managers by reviewing their voting records, engagement priorities, escalation approach and evidence of outcomes. Looking at how different managers vote on important resolutions, and whether engagement activity aligns with stated priorities, can help identify strengths, weaknesses and areas for challenge. This is particularly useful where multiple managers hold the same companies or where stewardship approaches vary widely across the portfolio.

UK pension trustees that are required to produce a Statement of Investment Principles must set out their policy on voting rights and on how they monitor and engage with relevant persons, including issuers and asset managers. Where an implementation statement is required, trustees must explain how those stewardship policies have been followed, describe voting behaviour including the most significant votes, and state any use of a proxy voter.

For schemes that are required to carry out an ORA, stewardship should be built into the assessment of the scheme’s overall governance and risk management. The focus should not simply be on whether stewardship is being done, but on how effective the scheme’s approach is in practice. That includes considering whether stewardship arrangements are helping trustees identify, monitor and manage investment risks, including those arising from ESG factors, regulatory developments and wider societal change.

Voting analysis helps asset owners understand how their managers vote on important resolutions and where approaches differ across managers. It can identify significant holdings, support more focused oversight and make it easier to challenge managers where voting appears inconsistent with client expectations or stewardship priorities.

A practical approach is to focus time on the most material stewardship issues, use structured oversight of managers, and get specialist support where deeper analysis or reporting is needed. That may include delegated stewardship, voting analysis, compliance review, manager deep dives or reporting support.

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