UK - Isis Asset Management has engaged with more than 500 firms this year on corporate governance and social responsibility issues.
In the first quarter of 2003, Isis engaged with 244 firms on issues ranging from climate change to corruption and bribery. This number increased to 265 in the second quarter.
Communications and strategy director Jason Hollands said: “Corporate governance issues have been increasingly hitting the headlines as investment institutions step up to the challenge of encouraging the firms they invest in to demonstrate high standards of transparency.”
Among the companies Isis engaged with were Anglo American on transparency, biodiversity, labour standards, and bribery, and BP on biodiversity, labour standards, human rights and bribery.
Extractives were among the most common reasons for contact, and included dialogue with ExxonMobil, Chevron Texaco, Shell, Petronas and Total.
Hollands explained that Isis’s clients, including several major pension funds, increasingly wanted to be reassured that their fund manager was using its influence to encourage companies to take account of the social and environmental impact of their growth plans.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.