The judges particularly praised the fund’s innovative approach to ESG investing, including the creation of a bespoke ESG index and a strategy focused on demonstrable, measurable progress rather than policies or aspirational intentions. By designing a customised benchmark and launching a dedicated global equity fund, the fund has ensured measurable ESG impact while maintaining minimal tracking error against the MSCI World index. The fund’s ESG impact is rigorously reviewed on a quarterly basis, reflecting a disciplined, evidence-based methodology. Additional strengths include a low-volatility equity focus, DC lifecycle, and a three-year ALM strategy. The platform for ESG investment was described as robust and thoroughly analysed, demonstrating both innovation and practical impact. This combination of prudence, innovation, and measurable impact demonstrates how a small pension fund can take a lead in responsible investment strategy while securing long-term outcomes. Overall, the fund exemplifies thoughtful, forward-looking, and results-driven management.