More ESG news – Page 303
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€18.8bn fund seeks governance expertise
IRELAND – The National Treasury Management Agency (NTMA), the Dublin-based asset and liability management arm of the Irish Government, has issued a mandate for shareholder engagement and proxy voting services.
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ECCE: new centre for European sustainable investment
EUROPE - The European Centre for Corporate Engagement for information on corporate social responsibility and sustainable investment has started work.
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Norwegian fund criticised over investing in Israel
NORWAY – The $240bn (€184.73bn) Norwegian Government Pension Fund Global has come under fire for its investments in an Israeli energy firm.
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Church fund queries Burberry on ethics
UK - The body responsible for the Anglican Church’s pension fund has written to Burberry questioning the luxury retailer’s decision to relocate its Welsh manufacturing operations to the developing world.
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US law firm comes to London to advise European investors
EUROPE – US law firm Cohen, Milstein, Hausfeld & Toll is setting up an office in London in mid-January to advise European institutional investors on litigation against corporates.
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Varma CEO to chair new market association
FINLAND – Matti Vuoria, chief executive of Varma Mutual Pension Insurance Co., has been elected chairman of Finland’s new Securities Market Association.
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Robeco takes 64% stake of SAM Group
EUROPE – Robeco has taken a 64% stake in Swiss-based SRI firm Sustainable Asset Management for an undisclosed sum.
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Immigration won’t save European PAYG - professor
EUROPE – Immigration won’t come to the rescue of Europe’s pay-as-you-go pension systems, argues Harvard professor Martin Feldstein.
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Netspar in €3m pensions research push
NETHERLANDS – Dutch pensions research institute Netspar is to subsidise three pension research projects with €3m, the organisation announced today.
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Four AP funds award combined SRI brief
SWEDEN – A joint socially responsible investing tender from four Swedish buffer funds (AP1, AP2, AP3 and AP4), with assets in excess of €80bn, has been awarded to GES Investment Services.
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Norway Global fund excludes cluster bomb maker
NORWAY – The NOK1.7trn (€209bn) Norwegian Government Pension Fund – Global has excluded the South Korean Poongsan Corporation from its investment portfolio for producing cluster bombs.
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Scottish MPs want to curb tobacco investment
UK – A group of members of the Scottish parliament want to stop their pension fund investing in tobacco companies.
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IPE AWARDS: Build stronger portfolios, schemes told
EUROPE - Pension funds should build stronger portfolios to brace themselves for worst-case scenarios rather than just researching them, the annual IPE Awards Seminar in Paris was told today.
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France's FRR names 'extra-financial' providers
FRANCE - The Fonds de Réserve pour les Retraites, the €29bn French Pensions Reserve Fund, has named three providers of "extra-financial" advice.
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PGGM looking to expanding SRI team
NETHERLANDS – The €77bn (£52bn) Dutch healthcare scheme PGGM is looking to expand its responsible investment team with senior advisors, the fund said.
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Ex-Hermes deputy CEO Metcalfe joins First State
UK - Charlie Metcalfe, the former deputy chief executive at Hermes Pensions management, has been named as CEO of First State Investments.
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UBS asset arm appoints Nordic sales director
SWEDEN – Henrik Af Donner has been appointed director of Nordic sales in the UBS Global Asset Management offices in Stockholm.
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PGGM names external audit committee members
NETHERLANDS - PGGM, the €77bn Dutch healthcare scheme, has named three external members on its audit committee, as a consequence of the new Pension Fund Governance Principles.
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Fortis eyes trustee governance
NETHERLANDS – International financial service group Fortis’ Dutch governance arm wants to educate pension fund trustees to take a more hands-on governing approach, the firm said today.
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ISS sold to RiskMetrics
GLOBAL – Proxy voting agency Institutional Shareholder Services (ISS), globally the largest adviser to pension and mutual funds on casting shareholder votes, is to be sold for $553m (€434m) to RiskMetrics.
