Smart added: “We are constantly being told not to look at past performance but it is really difficult to do that.
“Why do we continue to reward bad performance? They [asset managers] might have good words, but they don’t do things on fees and climate transparency.”
“We continue to give our money to people who don’t want to walk the walk.
“I have seen first hand how good performance can turn into bad performance, when value and inclusiveness is not taken seriously.”
Andreine Meyers, of the Royal Borough of Sutton and Royal Borough of Kingston upon Thames pension scheme, urged the industry to do more to come together.
He some obvious, simple steps were not being taken. He said: “Firms need to report on employee numbers, how can you not know the make up of your organisation?”
Samantha Downes is a freelance journalist
