Including: JAPAN/SINGAPORE - Daiwa examines shariah ETF; UK - Myners' fourth report on shareholder voting; UK -Threadneedle plans UK 130/30 launch
JAPAN/SINGAPORE – Daiwa examines shariah ETF
Daiwa Securities has carried out a feasibility study about listing a Japanese equities-based exchange traded fund (ETF), screened according to shariah principles on the Singapore stock exchange.
Other financial institutions, such as Société Générale and Nomura, are also reported to be considering launching Japanese products based on shariah principles.
UK – Myners’ fourth report on shareholder voting
Paul Myners’ fourth report to the Shareholder Voting Working Group (SVWG) has highlighted that while much work is being put into determining how particular shares should be voted, not enough effort is being made to ensure the voting process itself works properly.
In one case, 5% of the votes of 25 institutional investors at a FTSE -100 company’s 2006 annual general meeting were “lost” due to a flawed process.
UK – Threadneedle plans UK 130/30 launch
Threadneedle Investments plans to launch a US equities 130/30 product for the UK market in the fourth quarter of 2007.
The fund will be managed by Stephen Moore, a US equities manager who has been with Threadneedle since 2002.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.