As many corporate executives draw public criticism for their governance practices, institutional investors should exercise their power to influence who is appointed to the boards of companies they invest in, and who remains on them, the chairman of Australia’s A$59.6 billion Future Fund, David Murray, said.
Co-investment opportunities come to the fore
The distress in the financial markets is offering Australian superannuation funds good opportunities to achieve a higher internal rate of return (IRR) on quality assets purchased directly.
Sam Magee, commercial director at Australian investment manager Industry Funds Management (IFM), told the Conference of Major Superannuation Funds (CMSF) held in Australia this week, that there are now more opportunities to buy quality assets at a better price.
US funds rally against corporate mergers
The two largest state public pension funds in the US – the California Public Employees’ Retirement Sysrtem (CalPERS) and the California State Teachers Retirement System (CalSTRS) – have filed a joint motion with the US District Court, Southern District of New York, to be designated lead plaintiff in class actions against Bank of America stemming from its merger with Merrill Lynch.
Hermes FM to implement ‘responsible’ management
Hermes Funds Management, 100 per cent owned by the UK’s largest pension scheme BT pension fund, will implement “responsible asset management” across its entire product range.
Future looks bright for hedge funds
US consulting firm, Hammond Associates’ most recent alternative investments report, which highlights the fact there were very few places to hide in 2008, outlines the performance of the various asset classes and the outlook for the sector.
Desperate times for US corporate plans
Investments of more than $100 billion are required to rebalance the equity allocations of the largest US corporate defined benefit plans, as they join their international peers, registering record losses for 2008 and pushing them deep into underfunded territory.
