Our shareholder engagement programmes are one way in which we aim to address the problems of underperforming companies and encourage continuing excellence amongst the best performers Our pension fund management service, Hermes Pension Fund Management Limited runs alongside our multi specialist structure and acts as the executive arm of the BT Pension Scheme With our past and future aims firmly based around a long term and responsible approach, we have developed a business model which combines both specialist investment teams and products with a robust operating platform from which to run them Being wholly owned by the BT Pension Scheme, we have a unique relationship which gives us a long term parent whose requirement for investment excellence is perfectly aligned with that of all of our other clients Additionally, we have developed a stewardship business, the Hermes Equity Ownership Services