Fidelity unveils stewardship hub

By ESG Clarity

Fidelity International has teamed up with impact fintech Tumelo to create a stewardship hub helping fund managers report their stewardship activities to asset owners.

The hub will show pension scheme clients and trustees their underlying fund holdings and details of the stewardship activities of their fund managers. Managers can also use the hub to produce their implementation statements as part of their annual reports.

Anne-Marie Brennan, platform CIO and head of products at Fidelity International, said the hub will enable “better visibility, analysis and communication between fund managers and trustees”.

It will also display the vote preferences of pension scheme members on different company issues, from climate change to gender equality, where Tumelo’s shareholder platform is made available to them. In a release the firms said that “in line with the government’s Taskforce on Pension Scheme Voting Implementation (TPSVI), Tumelo enables trustees to extend their fiduciary responsibility to stewardship and to make sure voting and engagement undertaken by fund managers is in the long-term best interests of members”.  

The hub will be rolled out in phases to Fidelity master trust clients, who will be able to provide feedback on the Hub and its features.

Georgia Stewart, CEO at Tumelo, commented: “Working with Fidelity to create the stewardship hub has allowed Tumelo to bring a new experience for institutional investors and especially pension trustees. This innovation will enable Fidelity’s clients to align with new and enhanced policies such as the Implementation Statement, the Stewardship Code, and the latest recommendations from the United Nations and the UK government.

“We are excited to evolve this product to further improve communication and collaboration between fund managers, asset owners and beneficiaries on stewardship.”