NETHERLANDS - The e187bn Stichting Pensioenfonds ABP (ABP) has joined the Enhanced Analytics Initiative (EAI), which aims to encourage investment research.
The EAI is an international collaboration between asset owners and asset managers that considers the impact of extra-financial issues on long-term company performance. The EAI was established by a group of asset owners and fund managers who wanted to promote better sell-side research on extra-financial issues. The total assets under management of the Initiative now exceed e656bn
In joining EAI as a full member, ABP has committed to allocate a minimum of 5% of its annual broker commissions to those research organisations who best analyse the material extra-financial and intangible issues that can affect a company’s or a sector’s performance.
Roderick Munsters, CIO of ABP said companies with the best sustainable strategies, which encompass financial, social, environmental and corporate governance factors, would deliver the best long-term performance.
“Therefore we consider it essential to integrate extra-financial information throughout our mainstream investment process,” he said.
The problem is that, while progress is being made, good quality data and research on extra-financial issues is still broadly lacking. As a result ABP decided to join the Enhanced Analytics Initiative to actively support better investment research, said Munsters.
Current members include AGF Asset Management, BNP Paribas Asset Management, Hermes Pension Management, Mistra, PGGM, RCM, Trades Union Congress (TUC) Superannuation Society and the Universities Superannuation Scheme.
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.