More ESG news – Page 297
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LPFA to reform SRI policy
[16:00 CEST 16-08] UK – The £3.6bn (€5.3bn) London Pension Fund Authority (LPFA) is looking into changes to its socially responsible investment strategy (SRI).
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Citigroup signs first full pension buyout
[16:00 CEST 15-08] UK – Financial services firm Citigroup has made its first step in the pension fund buyout arena with the purchase of a £200m (€294m) defined benefit pension fund previously owned by Thomson Regional Newspapers (TRN).
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Pension funds more active as shareholders – NAPF
[16:45 CEST 14-08] UK – Large UK pension funds’ engagement with the companies in which they hold shares is growing further and getting results, says the National Association of Pension Funds (NAPF).
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Quarter of UK audit reports ‘meaningless’ – LAPFF
[16:30 CEST 13-08] UK – Almost a quarter of large UK companies do not provide proper reports to their shareholders on audit practices, suggests a survey by the Local Authority Pension Fund Forum (LAPFF).
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Dutch funds unconvinced by 'unfavourable' Fortis bid
[16:30 CEST 07-08] NETHERLANDS – A group of six Dutch pension fund-heavyweights yesterday voted against and displayed harsh criticism of Belgian-Dutch financials group, Fortis’ proposal for the potential ABN Amro takeover.
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Market gains could reduce cash funding
[16:00 CEST 03-08] UK – Financial directors are being advised to review their funding deficits as improved market conditions may have reduced the level of contributions now required.
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Dutch schemes recall Fortis’ securities for ABN vote
[17:00 CEST 30-07] NETHERLANDS - Dutch pension funds are recalling their loaned securities in Fortis Bank to prevent activist hedge funds benefiting from the implicit voting rights on Fortis’ bid for ABN Amro.
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Irish SRI funds have "solid performance" – Mercer
[14:30 CEST 27-07] IRELAND – Ethically-managed funds returned 3% for the first half of 2007 compared to 5.6% for equity-only funds.
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ABP and PGGM want returns in sustainable investment
[11:00 CEST 26-07] NETHERLANDS - ABP and PGGM, the largest pension funds in the Netherlands, say they expect to see real returns on investments in sustainability and social causes.
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Court approves first Parmalat settlement
[16:15 CEST 23-07] GLOBAL – A New York City court, overseeing the class action in the Parmalat case, has approved the $50m (€37m) partial legal settlement related to the Italian firm’s 2003 collapse.
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Agency seeks environmental corporate bonds
[15:30 CEST 20-07] UK - The Environment Agency has handed Royal London Asset Management the contract to manage a £55m (€81.5m) UK corporate bonds mandate, with SRI restrictions on the type of investments selected.
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Legal battle over Vera/Pevos fund collapse to continue
[16:30 CEST 19-07] SWITZERLAND – The public prosecutor for the Swiss canton of Solothurn has scored a legal victory in its campaign against those whom it deems responsible for the collapse of the Vera/Pevos pension fund.
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IPE-QUEST – $250m pan-European equity mandate
[16:45 CEST 18-07] SCANDINAVIA – A Scandinavian pension fund is looking for an active manager for a $250m (€181.7m) pan-European equity mandate, using IPE-Quest.
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Private equity firms caution on transparency calls
[15:00 CEST 18-07] EUROPE – Private equity associations have cautiously welcomed new proposals to increase transparency of their industry, noting any future requirements must not undermine their competitive position.
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AVC investments reveal knowledge gap
[14:30 CEST 18-07] UK – Trustees need to do more to ensure AVC members understand their investment options as a Watson Wyatt survey reveals some investors may have their assets under the wrong risk profile.
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Pension fund regs hamper trustee search
[16:00 CEST 17-06] UK - More than a third a UK pension schemes are having trouble recruiting trustees because of increasing regulatory pressures on pension fund trustees, a study has found.
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Union sees demand for SRI and portable alpha
[14:00 CEST 16-07] GERMANY – Union Investment, the asset manager for Germany’s co-operative bank sector, is rolling out sustainability and portable alpha funds on the back of institutional investor demand.
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Internal supervision seen as 'misleading’
[13:30 CEST 16-07] NETHERLANDS – The Internal supervision required under new Dutch pension fund governance rules could be misleading, argues Joep Schouten, exiting chairman of pensions provider Cordares.
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ABP makes first timber allocation
NETHERLANDS – The €211bn Dutch pension fund ABP has made its first foray into timberland investments with a $60m allocation to the Global Solidarity Forest Fund (GSFF).
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Pension funds fail to offer relevant training - TPR
[17:00 CEST 12-07] UK – One-third of British pension funds still do not offer any training to their trustees while four in 10 of British schemes do not have any risk management processes in place, according to The Pensions Regulator (TPR).
