United States – Page 11
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Opinion PiecesLetter from US: University endowments setting the pace on fossil fuel divestment
US university and college endowments control more than $600bn (€517bn) of investments. Their policies often influence the behaviour of public pensions. So it is interesting to see whether Harvard’s recent decision to end its investments in fossil fuels will be followed not only by other universities but also by retirement systems.
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News
AP7 hails US class action win as lead plaintiff against China’s Luckin Coffee
Gröttheim calls case clear example of how AP7 holds companies liable for mistakes that hit shareholders
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Opinion PiecesLetter from US: SEC looks towards mandatory ESG disclosure by companies
October will be an important month for investors and corporations as the Securities and Exchange Commission (SEC) will then propose new rules on climate change and other environmental, social and governance (ESG) issues.
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News
Pension funds, investors set grand plan to make steel sector decarbonise
‘Business as usual no longer acceptable,’ says Sweden’s AP funds ethics chief
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NewsGrowing foreign assets make Danish pensions an ‘export engine’, says IPD
Statistics show bigger swing to foreign assets for market-rate pensions than for average-rate side
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Opinion PiecesLetter from US: Hybrid plans in focus
The move from defined benefit (DB) pension plans to defined contribution (DC) has been ongoing for years in the US, both in the private and public sector. But more recently many state and local governments have adopted hybrid designs.
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NewsNorway’s SWF bemoans patchiness of US firms’ climate reporting
NBIM finds stronger climate reporting practices from tech, retail than banking and auto sectors
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Asset Class ReportsUS Equities: Challenges for US active managers
Active managers are grappling with several key themes as they deal with a concentrated market until recently buoyed by stimulus
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Opinion PiecesLetter from US: The rise of the new alternatives
Pension funds and other institutional investors used to invest in hedge funds aspiring to outperform public stock and bond benchmarks. Now, after years of disappointing performances, they have changed their attitude. They still invest in hedge funds, but the new expectation is simply to get a few percentage points above the return on zero risk investments.
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NewsNorway’s SWF stands back from looming shareholder battle for Exxon
Largest proxy voting firm advises clients to vote for rebels
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Opinion PiecesLetter from US: Aid without reform set to resolve the multi-employer pension plan crisis
Until March, The prospective collapse of multi-employer pension plans meant that over one million retired truck drivers, shop assistants, builders and other members of 186 schemes were at risk of losing their retirement benefits.
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News
Ilmarinen invests €170m in AXA low-carbon HY bond fund
Finnish pension insurer is seed investor in active ESG fixed income fund, which is ‘one of the first of its kind’
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Opinion PiecesLetter from US: Pension bonds raise concerns
The resurgence of interest in pension obligation bonds (POBs) is one of the effects of the pandemic on the US pension funds industry. Indeed in 2020 POB issuance reached its highest level in a decade, exceeding $6bn (€5bn), according to Municipal Market Analytics (MMA), an independent research firm focusing on the US municipal bonds.
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Asset Class ReportsUS high yield: A changing market
US high yield looks attractive against investment-grade credit although there are important changes for key sectors
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News
Nordic pension funds keep close eye on inflation trend
The Federal Reserve’s changed inflation goal feeds uncertainty about how and when US policymakers will step in
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FeaturesChina: Caught in the crossfire
The investment world is at risk of being caught in the midst of a ‘geoeconomic’ conflict between the world’s main economic blocs
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Opinion PiecesLetter from US: COVID and racial justice to the fore
The 2021 proxy season’s hot issues are human capital management related to COVID-19 and social justice. Several large US public pension funds are at the forefront of these campaigns together with non-profit shareholder advocacy organisations like the Interfaith Center on Corporate Responsibility (ICCR) and As You Sow, a non-profit foundation that promotes corporate accountability.
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Opinion PiecesCulture wars pose the greatest dangers
What areas within the increasingly bitter conflict between China and the West are most likely to hit asset owners?
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Features
Rising interest in EM debt
The weak dollar and low US interest rates are pushing governments and companies in emerging markets (EMs) to issue growing volumes of dollar-denominated debt.
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FeaturesLong-term matters: Stop investing in autocracy
Europeans observing the US ‘near miss’ constitutional crisis have a choice – be spectators or show responsibility
