Ten years after the UKSIF
introduced pensions disclosure regulation, the group is urging schemes
to increase their skills in sustainability governance.
In letters to Canadian Prime Minister Stephen Harper and Chung
Un-Chan, prime minister of South Korea, the International
Corporate
Governance Network urged G20 leaders to recognize the intrinsic
role of institutional investors in reforming shareholder
rights.
At the GAIM hedge fund
conference this week, managers focused on the problems that could hit
their firms rather than the past year's client inflows and 20% returns.
Following an
internal investigation by CalPERS, Ares Management and Relational
Investors have agreed to stop using so-called placement agents and
reduce the fees they charge the fund by millions of dollars over the
next five years.
Since the Gulf of Mexico oil spill started in April, pulling down BPs
share price, the governments of Norway, Kuwait, China and Singapore
have lost billions of dollars.
Directionless investors are conspiring with weak macro-economic conditions to unsettle a business model dependent not just on activity, but short selling, leverage and spreads, says Dominic Hobson, editor in chief of Global Custodian.
BP's Chairman Carl-Henric Svanberg and Group Chief
Executive Tony Hayward issued a statement saying they will meet
obligations to institutional investors, including
pension
schemes, but are unable to guarantee dividend
payments.
The executive director of the Massachusetts Pension Reserves
Investment Management Board (MassPRIM) is stepping down next month, a
treasury staffer said Monday.
Citing a $19.1 billion budget deficit, the largest US public pension
delays taking hundreds of millions of dollars more from the state to
pay for employee retirement benefits next year.