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The Myners Report

The Myners Report (2001) looked at institutional investment in the UK and established a best practice approach to investment decision making for pension funds.

The report

Institutional investment in the United Kingdom: a review 
Review published on the HM Treasury website in March 2001 (now hosted by National Archives). The report was announced in the HM Treasury press release 'Myners Review sets out proposals for new approach to institutional investment' on 6th March 2001.

Useful links

Reports and consultations

Myners review: Institutional investment in the UK: A response (HM Treasury, 2001) 
Response the Myners Review from HM Treasury & The Department for Work and Pensions in 2001 (hosted by National Archives).

Myners principles: review of progress (HM Treasury, 2004) 
Review of progress since the Myners Report and consultation on proposals to revise the principles. The review was announced in the HM Treasury press release 'Review of Myners principles for institutional investment decision-making' on 17th December 2004.

Institutional investment in the UK- six years on: report and recommendations, November 2007 (NAPF) 
Report published in November 2007 which sets out the findings and recommendations resulting from a year-long review of the Myners' Principles undertaken by the National Association of Pension Funds.

Updating the Myners principles: a consultation (HM Treasury, 2008)
A consultation from HM Treasury in 2008 which provided an opportunity to update the Myners principles. The consultation was opened in March 2008 with the paper 'Updating the Myners principles: a consultation and the Government’s response was published in Updating the Myners principles: a response to consultation in October 2008. In response to the consultation the Government established an independent Investment Governance Group under the chairmanship of the Pensions Regulator.


The Pensions Regulator
The Pensions Regulator publishes the Code of Practice for the trustee boards of occupational pension schemes and guidance for managing DC benefits.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Corporate governance in the UK - Myners

An introduction to governance for directors and executives. Chapter 5 looks at corporate governance in the UK and summarises the Myners report.

Overview of corporate governance - The Myners Report

The key institutions, products and professions of the City of London. Chapter 25 is a overview of corporate governance and summarises the Myners Report of 2001

Pension trustee's investment guide

Guide to investments and financial markets for pension trustees.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Why are the owners silent

The article presents the author's insights regarding the lack of participation from investment fund managers in corporate governance rules and regulations in Great Britain. According to the author, investment managers focus on portfolio returns instead of ownership engagement and stewardship. He adds that stewardship and ownership in the country will not change until the core assumptions such as the efficient market hypothesis and equity risk premiums are not challenged

Trustees still failing Myners test

An April 2004 update on scheme supervision in the British pensions industry, three years on from the Myners report.

UK pension fund management after Myners: The hunt for correlation begins

Professor David Blake considers a number of significant consequences he anticipated the Myners Report would have for pension fund management and performance measurement in the UK.

Articles and books in the Library collection

Selected books

Click on the links below to see our catalogue record and holdings for each book. To find out how you can borrow books from the Library please contact us or see our guide to book loans.

Principles for investment decision making and disclosure in the local government pension scheme in the United Kingdom 2012
(CIPFA, 2012)
In response to the Treasury report "Updating the Myners Principles: A Response to Consultation", Local Government Pension Scheme (LPGS) administering authorities are required to prepare, publish and maintain statements of compliance against a set of six principles for pension fund investment, scheme governance, disclosure and consultation.

Consultation on updating the Myners principles
(ICAEW, 2008)
Memorandum from ICAEW, dated 23 June 2008, in response to the consultation paper on updating the Myners principles, published by HM Treasury in March 2008.

Trustees' self-assessment of their performance and assessment of their third party providers: a guide to good practice
(NAPF, 2006)
This Guide is aimed at helping trustees to assess their own performance and that of their third party providers. It aims to assist trustees to improve the management of their scheme's affairs by highlighting a number of tools that can be used to assess how well they do their job - not by yesterday's standards, but against the more complex waters through which they have to navigate today. The need for this was picked up in the Myners' principles and re-emphasised in the December 2004 Treasury review of implementation.

Find more articles and books

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You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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