UK - Institutional Shareholder Services is to launch a corporate governance index to help investors gauge and analyse non-financial risk in their investments.
The new service – which is being developed with global indices provider FTSE – is due to be launched in the summer and will initially cover global and UK equities.
ISS and FTSE will then seek to develop indices covering other asset classes.
The move comes in the wake of Morley Fund Management’s decision to develop its own corporate governance index which will initially target FTSE350 firms (PP, February 26).
FTSE and ISS say that the indices will meet the needs of institutional investors who are concerned about the management of risks associated with poor corporate governance. FTSE and ISS will rate the corporate governance standards of more than 7000 companies within the FTSE Global Equity Index.
These ratings will enable investors to compare the companies within global equity portfolios using a single, integrated index. Mercer Investment Consulting global head of research Bill Muysken said: “This sounds like a promising initiative.
We will be taking a look at the data to see what use we can make of it when it becomes available to us.”
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.