LGPS Categories

BEST APPROACH TO RESPONSIBLE INVESTMENT

The winner will have demonstrated a clear focus on implementing RI including sustainability in their investment strategy, including evidence of ESG best practice within existing portfolios and/or examples of investing with impact as a primary driver. Entries focusing only on climate change should be entered into the Climate Change category.

> Outline how your fund has implemented RI in the overall investment strategy, including the response to regulatory and other external pressures
> Include evidence of ESG best practice within existing portfolios
> Where available, provide examples of investing with impact as a primary driver
> Your entry may include examples of collaboration
> You may also show how the approach to RI has been communicated to pension fund members

DIVERSITY AND INCLUSION

This award recognises an organisation that has worked to drive positive change by embedding principles of diversity and inclusion in the culture of the organisation.

Entries should address the following:

> Provide specific examples of how an environment that supports inclusion has been created
> Provide examples of literature and/or communications with scheme members that have expressly supported diversity and inclusion
> Show how consideration of diversity and inclusion has resulted in positive change
> Demonstrate an approach that has shown consideration for the wellbeing and mental health of employees, both direct and indirect

GOVERNANCE AWARD

Open to both funds and pools, this award recognises the importance of governance for members of the LGPS. The winner will have demonstrated the implementation of processes to ensure that all parties involved in the management are truly aligned with its long-term objectives. Emphasis will be placed on governance of shared and external services, transparency, and the management and mitigation of risks.

Your entry should address the following:

> The identification and implementation of processes to ensure that all parties are aligned with the long-term objectives of the fund
> Governance of shared and external services including pools
> Management and mitigation of risks
> How the Pension Board assists in the governance of the fund
> Where available, please supply your governance policy

INVESTMENT INNOVATION AWARD

This award will look at innovation within investment strategy design and implementation. The winner will be a fund or pool that has implemented a strategy or developed a process which helps keep its portfolio aligned with investment goals. The category covers both private and public markets, and can include the use of infrastructure investment, real estate, private equity and debt, impact and other strategies.

Please remember the following when submitting your entry:

This award is not just for investment strategies – tools or processes may also be submitted.

> Outline the drivers behind the innovation, and any relevant outcomes
> Explain how it has helped or will help the fund deliver its financial or non-financial objectives

LGPS FUND OF THE YEAR (ASSETS OVER £2.5 BILLION AT 31 MARCH 2024)

Criteria to be considered include, but are not limited to, the following: implementing best practice and leadership across pension fund operations, investment performance (judges will consider 1-, 3- and 5-year risk-adjusted returns, net, relative to target return) to 31 March 2024), thought leadership within the LGPS.

Your entry should address the following:

> Investment performance, including an assessment of how closely investment return achieved actuarial return targets, alongside indicators of risk/volatility of returns
> Governance
> Administration
> Collaboration and leadership within the LGPS

LGPS FUND OF THE YEAR (ASSETS UNDER £2.5 BILLION AT 31 MARCH 2024)

Criteria to be considered include, but are not limited to, the following: implementing best practice in pension fund operations, investment performance (judges will consider 1-, 3- and 5-year risk-adjusted returns, net, relative to target return) to 31 March 2024, thought leadership within the LGPS.

Your entry should address the following:

> Investment performance, including an assessment of how investment return has achieved or exceeded actuarial return targets, alongside indicators of risk/volatility of returns
> Governance
> Administration
> Collaboration and leadership within the LGPS

LGPS INVESTMENT STRATEGY OF THE YEAR

Investment strategy is key to the success of the LGPS. The winner of this award will set out how the goals and objectives of the investment strategy have been set, how well the strategy has been implemented, and the extent to which strategy goals have been achieved.

The entry should bear in mind the following:

> How objectives have been set and communicated
> Implementation of the investment strategy including use of pools
> Measurement of strategy objectives
> Achievement of goals against stated targets

LGPS PROMOTIONAL INITIATIVE OF THE YEAR

This award is for the best promotional activity by an LGPS fund or asset pool and can include print, digital and other media. The judges will look for evidence of activity that helped highlight the real value add the LGPS brings to the pensions and investment sector and to society as a whole, and which created awareness of the investment philosophies that underpin these values. The judges assess innovation in media and messaging concepts, as well as the final execution and results.

Please address the following as part of your entry:

> Details of the campaign, objectives, and the outputs it was designed to achieve
> Success in reaching the target audience
> Success in achieving objectives
> Response to the campaign from the target audience
> Innovation in messaging

OUTSTANDING CONTRIBUTION OF THE YEAR

An award recognising outstanding contribution to furthering the goals of the LGPS over the past year. Nominations can be made on behalf of an individual, a group effort, or an organisation.

PENSIONS ADMINISTRATION AWARD

The award considers initiatives to improve administration service quality and/or efficiency for organisations in the LGPS. This category is open to funds and pools that can demonstrate excellent or improved management of a shared service. External providers may also enter. Judging criteria include closing accounts, filing, member support, member communication, data quality and management; and may include examples of administration changes in response to customer feedback.

Remember to address, where applicable, the following when completing your entry:

> Timely and accurate production of Report and Accounts – demonstrated by a good Audit Findings Report
> Member and employer support and communication
> Data quality and management
> Where available, include examples of administration changes implemented in response to changing circumstances or feedback from members, colleagues or other parties
> Diversity and inclusion
> Efficient use of resources, including the use of technology, knowledge management, and effective problem management for improved customer services and to help identify and resolve problems
> Include any performance indicators for member’s service

RISING STAR

This award recognises an LGPS officer, adviser or councillor who has made a special contribution in their field which augurs well for their future within the LGPS.

SUSTAINABLE INVESTMENT STRATEGY (CLIMATE)

The winner in this category will show how the fund has adapted to account for climate change.

> The entry should address not just risk mitigation, but opportunities presented by climate change
> Where available, provide examples of how evaluating the impact of climate change has helped to identify new investment opportunities
> Explain how the fund assesses and responds to expected outcomes and how you manage the data challenges