The National Association of Pension Funds, which represents £900 billion of UK retirement savings, today announced the end of a 10-year tie-up with Institutional Shareholder Services, the US firm that advises investors on how to vote their shares.

NAPF and ISS's relationship formally began in 2004, with the foundation of a 50-50 joint-venture company called Research, Recommendations and Electronic Voting, which makes recommendations to investors on corporate governance policy, informed by NAPF's stance, and advises them how to vote at company meetings.