More ESG news – Page 323
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Watsons launches cross-border benefit tracker
GLOBAL – Reigate-based global consultancy firm, Watson Wyatt, has launched a new internet-based platform designed to allow companies to track and manage benefits, compensation, pensions and other financial data between business units and across countries.
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Edinburgh Trust picks Fidelity for e1.7bn mandate
UK – The Edinburgh Investment Trust (EIT) has appointed London-based Fidelity Investments to manage its £1.1bn (€1.7bn) assets following an RFP it conducted earlier this year. Fidelity narrowly beat Scottish fund management group, Baillie Gifford.
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Morley launches first SRI fund in Germany
GERMANY- Morley Fund Management and Delta Lloyd Investment Managers, both members of the Aviva Group, have launched a new active socially responsible mutual fund in Germany.
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EC takes optional social responsibility approach
EUROPE – The European Commission has published a communication on corporate social responsibility (CSR) outlining a series of optional recommendations.
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UK funds fail to embrace ethical investing
UK- A new report suggests UK pension funds continue to shun ethical investing despite an amendment to the 1995 Pensions Act two years ago designed to make them take social and environmental issues more seriously.
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Metcalfe joins Hermes as business development head
UK- Hermes, the £46bn investment manager owned by the British Telecom pension fund, has appointed Charlie Metcalfe as head of business development and deputy chief executive.
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BGI employs Global Risk Management in SRI drive
UK- Barclays Global Investors has appointed risk management and research company Global Risk Management (GRM) to carry out social, ethical and environmental research on the European companies it invests in.
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UIA hands insurance assets to Morley in SRI drive
UK- Specialist insurer UIA has appointed Morley Fund Management to run its entire general insurance and life funds of £90m on a socially responsible basis.
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SRI continues to grow but remains a niche service
UK – Over 50% of UK based fund managers have perceived a growing interest from their pension fund clients in socially responsible investments (SRI), although trustees appear more concerned with protecting their reputations and avoiding criticism, according to the latest Deloitte & Touche SRI survey.
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Scottish Widows launches SRI fund for Sweden
UK/SWEDEN – Edinburgh-based asset management group, Scottish Widows Investment Partnership (SWIP), has launched a new socially responsible investments fund, the SWIP Pan-European SRI equity fund, specifically targeting the Swedish institutional market.
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FTSE makes SRI index entry tests more stringent
UK- Index provider FTSE Group has revised its SRI indices FTSE4Good and introduced more comprehensive environmental standards that companies have to meet to qualify for inclusion. FTSE says the changes mean that all companies, not just those most likely to affect the environment, will have to meet the more rigorous ...
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Robur sets up corporate governance subsidiary
SWEDEN – Sweden’s largest mutual fund company, Robur, has created a new holding company specifically for corporate governance issues, Robur Fondholding. Chairman of the new company will be Anders Sahlén, current chairman of Robur.
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Rogers to succeed Dobson as UKSIP chief executive
UK- The UK Society of Investment Professionals has announced the appointment of John Rogers as a replacement to retiring chief executive Sir David Dobson.
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Belgian minister sets 2003 pension law deadline
BELGIUM- The Belgium ministry of finance has said that the country’s new occupational pensions legislation will be passed and in place by the beginning of next year.
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NAPF and APUT launch property best practice code
UK- Investment in property is set to become more transparent following the launch in London by the National Association of Pension Funds (NAPF) and Association of Property Unit Trusts (APUT) of a new code of best practice for the management and accountability of property funds.
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Avon drops MLIM and Gartmore for underperformance
UK – The £1.5bn (€2.4bn) Avon Pension Fund has dropped Merrill Lynch Investment Managers (MLIM) and Gartmore from mandates worth almost £1bn (€1.6bn) for failing to achieve performance targets since they were appointed in 1997.
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FTSE adds 82 companies to its SRI indices
GLOBAL- Index provider FTSE has added 82 new companies to FTSE4Good, its socially responsible investment index series. These companies have been included in the index for having met the corporate social responsibility criteria required to be part of this universe.
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German corporate governance moves welcomed
GERMANY – The European Corporate Governance Service (ECGS) has welcomed the final version of Germany’s code on corporate governance, presented to finance minister, Herta Däubler-Gmelin, by a special governance commission chaired by Gerhard Cromme.
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End-2002 remains pensions directive deadline
EUROPE- The Financial Services Policy Group has met in Brussels to consider the political obstacles to the action plan, which includes the pensions directive and the Lamfalussy report. The group discussed political obstacles to, among other things, the proposed pension fund directive (IP/00/1141) with the aim of paving the way ...
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FIS launches first corporate bond funds
UK- Investment manager Friends Ivory & Sime (FIS) has announced the launch of two new corporate bond funds. The All-Stocks fund will aim to outperform Merrill Lynch’s All-Stocks Sterling corporate bond index by 1% per annum measured over rolling 3 year periods while the Long-Dated fund will seek to outperform ...
