More ESG news – Page 317
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CDC says French SRI market grows to E4.4bn
FRANCE – A subsidiary of CDC has found that total assets in the French SRI market have risen to 4.4 billion euros – partly boosted by a 550 million-euro switch into SRI by BNP Paribas Asset Management.
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Netherlands: Hermes hires ex-SPF CEO de Koning
NETHERLANDS - London-based pension fund manager Hermes has hired former Dutch railway pension fund executive Peter de Koning.
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Bank of Italy enters regulation debate
ITALY – The Italian central bank, citing the US SEC, says market regulator Consob should be given greater powers.
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Isis to apply SRI to corporate bonds
EUROPE – Isis Asset Management says it will apply engagement methods to rate corporate bonds on socially responsible investing criteria.
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Metalektro hires Isis for SRI overlay
NETHERLANDS – The 14 billion-euro pension fund for the Dutch metals industry, Metalektro or PME, has appointed Isis Asset Management to manage a voting and socially responsible overlay programme.
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Italy: Mefop chief says optimism “difficult”
ITALY - The president of Italian pension fund association Mefop, Marcello Messori, says it is “difficult” to be optimistic about the current pension situation.
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Tremonti mulls pension regulation revamp
ITALY - Finance and economy minister Giulio Tremonti has floated the idea of a “super authority” that would handle pension and other market regulation.
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European managers see euro stocks up 10% - poll
UK – European institutional investment managers expect European equities to return 10% in 2004, according to a survey by Mercer Investment Consulting.
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PGGM confirms plans to cut 100 jobs
NETHERLANDS – The 45 billion-euro Dutch healthcare fund PGGM is cutting around 100 jobs in an efficiency drive.
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Pensions, ageing on agenda at Davos forum
SWITZERLAND – Ageing populations and the pension “time bomb” are on the agenda at the forthcoming World Economic Forum event in Davos.
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UK’s NAPF says voting is an obligation
UK – The National Association of Pension Funds says that voting is an obligation of share owners and that it will recommend active voting as part of engagement with companies.
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SWIP hires Barings’ Ortving as Nordic head
NORDIC – Scottish Widows Investment Partnership says it has hired Martin Ortving from Baring Asset Management to head its Nordic business.
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BNP Paribas in bid to exploit pension reform
FRANCE - BNP Paribas is launching a pension Sicav to take advantage of changes in French pensions law.
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Study finds no sustainability - performance link
GERMANY - A study commissioned by sustainable investment research group scoris shows no evidence that sustainable corporate behaviour leads to better financial performance.
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Pension funds cool on new Dutch code
NETHERLANDS – The new Tabaksblat corporate governance code has received a mixed response from pension fund bodies.
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Nordic SRI firm GES blacklists BASF, Nomura
GLOBAL - BASF and Nomura Holdings have been placed on an investment blacklist by Nordic SRI consulting firm GES Investment Services, for violating international ethical business guidelines.
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Hewitt finds firms wary over governance
EUROPE - Nine out of 10 European companies are against EU legislation on corporate governance, according to a poll by Hewitt Associates.
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Marsh & McLennan, CalPERS in spat over Putnam
US – Marsh & McLennan has hit back at CalPERS’ claims that the market timing problems at its Putnam Investments arm are Enron-like, saying the claim is “outrageous”.
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Final Tabaksblatt governance report due
NETHERLANDS – The final report of the Tabaksblatt committee of corporate governance will be presented to the Dutch government tomorrow.
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PGGM names new equities and fixed income heads
NETHERLANDS – The 49.7 billion-euro Dutch healthcare pension fund PGGM, which recently named a new chairman, has named new heads for equities and fixed income.
