GLOBAL ROUNDUP
Swedish pension fund fires chief
FTfm: AP1, one of five state pension funds in Sweden, has fired its chief executive for breaking its own rules on the holding and trading of financial instruments. The fund, which manages SKr352bn (£29.6bn) in assets, said it had sacked Johan Magnusson because he had “violated internal regulations on the holding and trading of financial instruments”. The fund declined to provide
further information beyond saying no crime had been committed. Mr Magnusson has run AP1 since 2008. He was on the
pension fund’s investment committee but did not directly manage any investments himself.
Johan Magnusson was dismissed
over an internal rule breach
Activemanagement ‘dominates’ Swissmarket, study shows
Ignites Europe: A survey of Switzerland-based asset management firms, conducted by the Institute of Financial Services Zug and the Asset Management Platform Switzerland, showed that
around 70 per cent of assets run in Switzerland are being actively managed. It said asset managers see the best business opportunities in the areas of product specialisation and sustainable investments.
US pension funds ramp up pressure for gender disclosures
FT: Impact investors and large US pension funds are stepping up pressure on companies to reduce the gender pay gap by trying to compel them to reveal the difference in how they treat men and women. The state pensions of Minnesota,
Oregon and Connecticut are among the investors that are pushing companies to disclose more information about how women are recruited, paid and promoted.
44
The investors are calling for new disclosures about the promotion gap between women and men, in addition to details about how women are compensated. Tobias Read, treasurer of
Oregon – overseeing around $106bn (£87bn) in assets under management – argued: “Gender equality, if we are not paying attention to that as a risk, we are not living up to our fiduciary responsibilities.”
WOMEN ARE RECRUITED, PAID AND PROMOTED
COMPANIES TO REVEAL HOW
INVESTORS URGING
Calstrs asks to join Facebook governance lawsuit
Fundfire: The $237bn (£194bn) California State Teachers’ Retirement System will ask a judge to include it in a pending lawsuit aimed at Facebook leadership, Associated Press reports. The country’s second-largest
public pension systemwants to join action filed by retail investor Karen Sbriglio and the Fireman’s Retirement System of St Louis in 2018 after it was revealed that Cambridge Analytica took Facebook users’ personal information and used it in its political consulting business. Calstrs believes that ineffective corporate governance practices at Facebook contributed to the scandal and had a negative impact on its stock price, said Aeisha Mastagni, the fund’s manager of sustainable investment and stewardship strategies.
APAC funds suffer drop in assets
Ignites Asia: The volatile financial markets of 2018 caused assets in the world’s biggest pension funds, including those in Asia-Pacific, to shrink last year for the first time in seven years. Assets in the largest 20 pension funds dropped by 1.6 per cent during 2018, and assets held in the largest 300 schemes fell 0.4 per cent, according to a Willis Towers Watson report. Seven of the 20 global pension funds are from Asia. These include South Korea’s National Pension Service, Singapore’s Central Provident Fund, China’s National Social Security Fund, and Japan’s Government Pension Investment Fund.
PHOTO: ISTOCK
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
