Pace DB investments
Pace DB’s assets are invested with the aim of building up sufficient investment returns to meet the benefits promised to members.
The Pace Trustees, with the help of investment advisers, choose where to invest the assets and draw up a Statement of Investment Principles (SIP) which outlines Pace DB’s investment strategy. The SIP is reviewed annually and updated at least every three years and after an actuarial valuation.
The Trustees also prepare an Implementation Statement each year which sets out how they have followed the policies in the SIP, and how they have engaged with the companies they invest in (and exercised any voting rights on the investments held by the Scheme).
The Pace Trustees have adopted a Responsible Investment Policy, which outlines how environmental, social and governance issues are accounted for within Pace’s investment strategy, and Pace's commitments around climate change. They also produce an annual Responsible Investment Report, which sets out how Pace has implemented its Responsible Investment Policy over the year, and how Pace has complied with the principles underlying the UK Stewardship Code (which establishes a number of areas of good practice which the Financial Reporting Council, the UK's independent regulator responsible for promoting high quality corporate governance and reporting, believes institutional investors like Pace should aspire to).