Brunel Governance
We have a board of eight directors, comprising three executives and four non-executives, as well as a non-executive chair. Members of the Board can be identified in the People section.
What we spend and how we spend it
Our annual budget is funded by our shareholders. We are non-profit making and any surplus generated in a financial year is either returned to shareholders or retained by agreement in order to meet future expenditure.
We are subject to the Public Contracts Regulations (PCR) and comply with PCR when we enter into contracts, if applicable. For a current list of open procurements with Brunel, please visit the UK government’s Contracts Finder website.
What our priorities are and how we are doing
The government’s core objective in setting up LGPS pools was to reduce costs. We deliver value for money for our clients through a number of ways, including economies of scale, saving money on duplication of due diligence, operational due diligence, legal and tax advice, as well as benefitting from the combined expertise of the Brunel team.
Our original business case targeted savings of £27.8 million annually versus the pre-pooling world. By 2021-2, we were already saving over £34 million each year net of pooling costs. Thus, two years ahead of schedule, we were saving around four times the costs we incurred via the management fees we negotiated.
Since inception, we have also prioritised Responsible Investment, and it runs through everything we do at Brunel.
How we make decisions
The Board makes most day-to-day decisions affecting Brunel. However, certain decisions have been reserved to our shareholders, meaning their prior approval is required ahead of implementation.
More broadly, Brunel’s activities are subject to scrutiny by the Brunel Oversight Board (BOB), which comprises representatives of our clients, typically members of their respective Pensions Committees. Although not a decision-making forum, BOB provides considered and informed oversight. In addition, our Client Group (CG), comprising officers from our clients’ pension funds, provide BOB with advice on pensions and investment matters.
Our information
Our information, how it is managed, and what we do with it, is covered by our Scheme of Publication.
Our policies and procedures can be viewed in the Library section of our website.