Brendan Maton
AnalysisBlackRock funds’ voting blunder exposes flaws in stewardship and fund design
Vague stewardship reporting rules and poor design of pooled funds meant BlackRock’s clients did not exercise their influence
NewsBlackRock equity funds didn’t vote on US companies for almost 10 years
BlackRock ‘immediately notified affected clients, apologised and rectified the issue’, the firm said
Special ReportPassive investors: price/market reliance and the due diligence question
Towards the end of October 2024, the High Court in London struck out claims for £335m (€402m) being sought from Barclays for misdemeanours dating back over ten years.
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Merseyside Pension Fund: Looking after one’s own benefits the wider economy
The £10bn (€12bn) Merseyside Pension Fund has long been recognised as an active asset owner that takes its responsibilities as a shareholder seriously.
Special ReportWeighing the costs and benefits of making a claim
ABN-Amro, Airbus, ING, Petrobras and Stellantis are among the major corporations defending class action lawsuits in the Dutch courts. They are likely to be joined by Philips within the next 12 months.
NewsUK judgement bars passive investors seeking compensation from Barclays
Norwegian pension fund KLP and Swedish pensions and insurance group Folksam are among the claimants fighting Barclays
NewsUK’s Unite asks pension funds to halt investments with Pemberton
Clwyd and six other Welsh pension funds invest in Pemberton via the Wales Pensions Partnership’s private credit strategy
Special ReportRisk transfer special report: Pension liabilities shift to insurers
New players are waiting to enter the UK pension risk transfer market but this will depend on how accommodating Solvency UK will be
Special ReportDouble-edged benefits of litigation financing
European pension funds have become familiar with class action litigation, often tying it in with their fiduciary responsibilities as shareholders. Cases against UBS regarding its takeover of Credit Suisse; EY as auditor of fraudulent German payments firm, Wirecard; and Silicon Valley Bank, which collapsed in March, are the headliners of 2023.
Special ReportInnovation and choice challenge the established players
The wonderful breeding ground of ETFs means that you can now allocate to any sector or specialism you like, from artificial intelligence to recycled gold; export-tilted Japanese companies to carbon credits. New launches this year include Texas Equity, following the fortunes of companies headquartered in the Lone Star State; the euphoniously named Clouty Tune, which brings global exposure to music, entertainment and media; and Breakwave’s Tanker Shipping ETF, which tracks an index for crude oil tankers.
Opinion PiecesCambridge and Westminster: a tale of two pension schemes
The Houses of Parliament and Cambridge University are two venerable British institutions. But the differences in how they run their pension arrangements illustrate the contrast between the UK-style pooled liability-driven investment (LDI) and a more traditional form of pension investing, no longer as popular in the UK but still common elsewhere.
FeaturesBritain’s LDI crisis: When things nearly fell apart
On 23 September 2022, Kwasi Kwarteng, the then UK chancellor of the exchequer, announced a £45bn (€52bn) package of tax cuts. The hand-outs, designed to please key voters, were the wrong gift at the wrong time. For several years, the Bank of England had been attempting to end quantitative easing and start putting a higher price on borrowing.
FeaturesPension funds at risk from cyber security threats
Regulators are increasingly focusing on the vulnerabilities of pension funds to the threat of cyber attack, which can bring disruption and potentially large-scale reputational fallout for schemes and sponsors
Special ReportHow green are green derivatives?
On 6 April 2022 the European Commission announced that derivatives, including futures, swaps and many other instruments routinely used by ETF providers, cannot be classified as ESG or sustainable or green in investment fund reports.
FeaturesInvestors grapple with sustainability in short selling strategies
The recent move by the EU to exclude derivatives from sustainable strategies has focused attention on the role of short selling in promoting lower carbon emissions
