New York City Pension Funds lead the charge against Management Proposal 5 with Glass Lewis, ISS’s endorsement as they prep for Mylan’s June 22 shareholder meeting.
Scathing report accuses fund of poor oversight, depletion of funds, and unauthorized transactions
The annual report shows that a 12.8% return gives net assets an $18.8 billion boost.
The Pennsylvania-based pension fund trumps last year’s Q1 reports.
EMs currently account for more than half of the world’s GDP and around two-thirds of GDP growth—that economic share is only expected to rise as EMs are projected to grow faster than developed markets (DMs) in upcoming years.
Economist also notes that US rate rise likely to be slow based on high levels of debt.