L&G holds ‘first ever master trust AGM’

The Legal & General Mastertrust held its first annual general meeting yesterday, where employer representatives quizzed trustees on the pensions bill, ethical investing and member communications.

L&G says the event was the first master trust AGM to be held in the UK, bringing together representatives from the 31 employers that make up its current clients. It held the event in response to a request from ShareAction, the ethical investment campaign group.

The meeting was hosted by the Mastertrust fund management group, Legal & General Investment Management at their head office in Coleman St, London.

Chair of the trustees Paul Trickett says: “Clearly our AGM has delivered a valuable new forum for communication with our members. I would like to thank all those who came to the AGM and their employers for promoting the event and giving them the time off, and am pleased to say that we plan to make this a regular event.”

ShareAction CEO Catherine Howarth says: “While AGMs are not yet required for master trusts, we applaud the Legal & General Mastertrust for holding the first AGM in this growing sector. We hope employers choosing a pensions provider will select those with accountable governance practices, as exemplified here. ShareAction has been a vocal champion of accountable governance practices in Britain’s changing pensions landscape. We came up with the concept of the pension fund AGM and were delighted when Legal & General Mastertrust chose to adopt the idea.”