DENMARK - Lærernes Pension, the pension fund for Danish teachers, has hired State Street Global Advisors (SSgA) to run a $271m US investment-grade bond portfolio with an environmental, social and governance screen.
SSgA is replacing another manager that was terminated, confirmed Lærernes portfolio manager Morten Roed Eriksen. He declined to name the manager.
Lærernes applies an ESG to its entire €5.5bn ($7.4bn) portfolio. Eriksen said a negative screen is applied to ensure companies comply with the United Nations Global Compact, a set of guidelines relating to human rights, labour, environment and anti-corruption policies.
SSgA has $469bn in fixed income assets under management.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).