More ESG news – Page 313
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Sweden's AP3 names new management team
SWEDEN - The 142 billion-crown (15.2 billion-euro) Third Swedish National Pension Fund, AP3, has appointed a new nine-strong executive management team that includes two new members.
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Three top executives leave Dutch doctors scheme
NETHERLANDS – The 10.5 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) in the Netherlands has lost three senior executives over the course of three months, it has emerged.
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Mercer president leaves MMC board
GLOBAL – Peter Coster, president of Mercer Inc., has left the board of troubled Marsh & McLennan Companies along with four other directors as part of corporate governance effort.
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IXIS, Dexia top E5bn French SRI market - report
FRANCE - Caisse d'Epargne’s IXIS Asset Management and Dexia Asset Management top the list of best-known players in the five billion-euro French Socially Responsible Investments market, a survey reveals.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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FRR says SRI part of social protection role
FRANCE – The 18.5 billion-euro Fonds de Réserve des Retraites has provided more details on its socially responsible investing strategy, saying: “We belong to the social protection system.”
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PGGM’s Munsters to succeed ABP’s Frijns
NETHERLANDS – ABP, Europe’s largest pension fund, has named PGGM’s Roderick Munsters to succeed Jean Frijns as chairman of ABP Investments.
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Ross Goobey: UK, Dutch governance similar
NETHERLANDS – Alistair Ross Goobey, chairman of Hermes Focus Asset Management and a long-time proponent of corporate governance, has highlighted the similarities between Dutch and UK corporate governance.
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AP3 warns on costs of Swedish governance code
SWEDEN – Tredje AP-fonden, the 16.6 billion-euro Third Swedish National Pension Fund, has said Sweden’s proposed new corporate governance code may lead to higher costs.
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USS, PGGM in broker research initiative
EUROPE - Two of Europe's largest pension funds, the UK's USS and the Netherlands' PGGM are among the founding members of an initiative to challenge sell-side research.
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AP7 renews SRI mandate with GES
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund or AP7, has renewed its socially responsible mandate with GES Investment Services.
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BBVA and Innovest in Spanish SRI venture
SPAIN – Innovest Strategic Value Advisors, whose principal outside investor is Dutch pension fund ABP, has started a partnership with Banco Bilbao Vizcaya Gestión to launch a corporate sustainability SRI fund.
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Governance firm ISS names global research head
GLOBAL – Corporate governance firm Institutional Shareholder Services has named Randall Hancock as general manager of its global research business unit.
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PVK consults on new pension fund rules, FTK
NETHERLANDS – The pensions and insurance regulator the PVK is to write to all Dutch pension funds about the changes to pension fund regulations and the Financial Assessment Framework, or FTK, next month.
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NAPF’s Scott queries some Hermes activism
BELGIUM - Derek Scott, chairman of the UK’s National Association of Pension Funds’ shareholder affairs committee, has queried some of Hermes Pensions Management’s shareholder activism strategy - citing Vodafone as an example.
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Uproar as Dutch pension plans leaked
NETHERLANDS – There is uproar over a leak of the forthcoming budget which has revealed that the government is looking at possibly raising the retirement age to 67.
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EU launches consultation on shareholder rights
EUROPE – The European Commission is seeking feedback from institutional investors as it puts together a proposed directive on corporate governance.
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UK wants 50% of trustees to be member-nominated
UK – The UK’s new pensions minister has put forward proposals to ensure that half of pension scheme trustees are nominated by members, up from a third at present.
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Rapid asset ‘churn’ seen harming hedge industry
GLOBAL – The rapid switching of assets in and out of hedge funds could blow the industry away, says industry veteran Michael Goldman, one of the founders of fund of hedge fund firm Momentum, now part of Pioneer Investments.
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Sarasin boosts Austrian institutional business
AUSTRIA - Basel-based asset manager Sarasin says it is strengthening the institutional activities of its Austrian business with the appointment of former Credit Suisse executive Susanne Müssauer.
