More ESG news – Page 306
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Dutch pension fund members get more say
NETHERLANDS – The Dutch government is to amend the current Pension Law proposal to include a legal basis for pension fund members to have a role in the management of funds.
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AP3 may disinvest in Yahoo!
GLOBAL – The roughly SEK175.8bn (€19.2bn) Third Swedish National Pension Fund (AP3) has not ruled out withdrawing its equity investment in Yahoo! following reports implicating the global online network in human rights violations.
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Shareholders to vote on corporate governance - Eumedion
NETHERLANDS - The shareholders of a listed company should have a vote on its corporate governance policy, in order to achieve an adequate motivation in case of a deviation of the Tabaksblat Code, said Eumedion, the platform for corporate governance.
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NAPF-ISS joint venture in ownership change
UK – US-based Institutional Shareholder Services (ISS) and the National Association of Pension Funds have announced that their joint venture, RREV, will now be solely owned by ISS.
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Netherlands to force funds to disclose voting
NETHERLANDS - Dutch Finance Minister Gerrit Zalm wants to force pension funds, insurers and banks to disclose the way they vote at company annual general meetings.
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Belgian funds ‘forced into SRI investing’
BELGIUM – Public authorities in Brussels must invest “at least” 10% of their pension schemes in socially responsible investment under new orders approved by government.
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French civil service scheme in SRI tender
FRANCE - France’s new civil service additional pensions scheme has launched a tender for fund managers of euro-zone socially responsible investments.
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PPM tenders fund rating services
SWEDEN - Sweden’s Premium Pension Authority, PPM, says it intends to purchase fund rating services.
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Lancashire tenders €146m in hedge funds
UK - The £3.47bn Lancashire County pension fund has tendered around £100m (€146m) in fund of hedge funds.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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NYSE-Euronext tie could hit governance - ABP
NETHERLANDS – Giant Dutch civil service pension fund ABP fears the planned merger between Euronext and the New York Stock Exchange could lead to ‘Americanisation’ of European corporate governance.
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PPM tenders performance evaluation
SWEDEN - Sweden’s Premium Pension Authority, PPM, is seeking a consultant for, among other things, performance evaluation of its external asset managers.
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SRI community ‘falling down on communications’
SWEDEN – Communication – or the lack of it – on socially responsible investing has emerged as a key issue at a conference on SRI and corporate governance this week.
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US proxy firm Glass Lewis expands into Europe
EUROPE – US proxy research and institutional voting services firm Glass, Lewis & Co. has opened a European headquarters in London.
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Norway’s Baerum tenders €73m in SRI
NORWAY – The Bærum municipality east of Oslo has tendered NOK570m (€73.5m) in socially responsible investing assets.
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French reserve fund grows to €28bn
FRANCE - The FRR, the Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has grown to €28.1bn after making a 4.3% return on assets in the first quarter.
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Dutch launch cross-border asset pooling vehicle
NETHERLANDS - The Dutch Finance Department has endorsed a Fund for Joint Account(FJA) as a tax-transparent vehicle for international asset pooling, it has confirmed.
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Swiss SRI boosted by pension funds – study
SWITZERLAND – Pension funds have been the main reason why Switzerland’s socially responsible investment (SRI) volume has more than doubled since 2001, a new study claims.
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FRR awards €600m SRI mandates
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has awarded five asset managers a total of €600m in socially responsible investing mandates.
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Hermes writes to VW on corporate governance
GERMANY – Hermes, the asset manager owned by the BT Pension Scheme, has written to German carmaker Volkswagen seeking an investigation over its corporate governance practices.
