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.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point