Norway’s Government Pension Fund Global (GPFG) has reached the top of the Global Pension Transparency Benchmark, an annual ranking published by CEM Benchmarking.
“Reflecting the heightened focus on transparency and improved practices, the race was tight among the top funds with the first three funds separated by only one point each.,” it was announced.
The Global Pension Transparency Benchmark is a world global standard for transparency among pension and institutional investment funds. It ranks 75 investment funds from 15 different countries. The overall scores look at four factors: governance and organisation, performance, costs, and responsible investing.
CPP Investments and AustralianSuper came in second and third overall.
This year’s results revealed a jump in the overall quality of pension fund disclosures with 77% of funds making improvements in their scores.
Norway’s GPFG made significant improvements to move from second to first place this year. CPP Investments dropped from first to second by a small margin, and AustralianSuper jumped from seventh to third spot in the year.
Canada was a clear winner in the country rankings for the third year, with all five of the Canadian funds featuring in the top 10 global funds, the research disclosed.
The Dutch fund Stichting Pensioenfonds Zorg en Welzijn topped the list for the transparency of disclosures around cost.
In the governance factor three funds ranked equal first, with all three achieving the extraordinary result of full marks in their scores: AustralianSuper, CDPQ and CPP Investments.
GPFG was the best fund for transparency of disclosures related to performance and also took equal top spot with Duthc fund bpfBOUW for responsible investment.
“We aim to be the most transparent investment fund in the world, and we work really hard every day for it. This result is an important milestone and will inspire us to work even harder towards even greater transparency,” said Nicolai Tangen, cheif executive officer of Norges Bank Investment Management, GPFG’s asset manager.
The benchmark focuses on the transparency and quality of public disclosures, with quality relating to the completeness, clarity, information value, and comparability of disclosures.
The Global Pension Transparency Benchmark is the world’s first global standard for transparency among pension and institutional investment funds. It ranks 75 investment funds from 15 different countries. The overall scores look at four factors: governance and organization, performance, costs, and responsible investing.
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