February 2022
28Feb

U.S. asset owners react, mull responses to Ukraine invasion

U.S. asset owners, their supervisors, and state legislative bodies are grappling with the impact of Thursday's Russia's invasion of Ukraine. In Illinois, state Rep. Jim Durkin announced Thursday he would introduce legislation that would require the state's five pension funds to divest from any holdings in Russian companies. "This morning, we woke up to shocking images crossing our TV screens. People in cities throughout Ukraine huddled in subways and shelters while explosions shake their cities as Russian soldiers begin an invasion...

February 28, 2022
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25Feb

Russian actions vs. Ukraine have European investors on alert

Geopolitical conflict between Russia and Ukraine is making institutional investors in Europe nervous, with some pension funds reducing their Russian holdings, and others watching closely. Read also Investors, governments act on Russia’s escalation in Ukraine The political situation that has been brewing since late 2021 escalated dramatically Feb. 24, when Russian troops invaded Ukraine. That prompted other countries, including the U.S. and the U.K. to impose increasingly strict sanctions against Russia, and the prospect of more from Canada, Japan and Australia. European...

February 25, 2022
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25Feb

Canadian Pensions Bankrolling Elder Abuse and Misappropriation of Public Money by French Long-term Care Multinational: CUPE

A new report by the Centre for International Corporate Tax Accountability and Research (CICTAR) reveals that Europe’s largest long-term care home operator, Orpea, has been building a property empire while facing allegations of elder abuse and misappropriation of public money. Orpea is 15 per cent owned by the Canada Pension Plan Investment Board (CPPIB), which also holds two seats on Orpea’s board of directors. CUPE is reiterating its call for Canadian pension funds to stop bankrolling suffering and abuse...

February 25, 2022
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Assessing the Macroeconomic Impact of Structural Reforms in Ukraine
24Feb

Assessing the Macroeconomic Impact of Structural Reforms in Ukraine

By Anil Ari & Gabor Pula Ukraine’s economic performance has been anemic since the early 1990s. A major impediment to productivity growth has been low investment, held back by lack of strong and independent institutions. This paper aims to assess the major areas of institutional weakness in Ukraine and quantify the long-term growth impact of catching-up to Poland in terms of the quality of major economic institutions and market development. Our analysis identifies the legal system as the area where...

February 24, 2022
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24Feb

South Africa. Pension funds may now invest up to 45% of their capital offshore

During his budget address to parliament, Finance Minister Enoch Godongwana said amendments to Regulation 28 would be published in March. Regulation 28 sets out the criteria and maximum limits of where and in which asset classes retirement funds may invest. The Budget Review document announced that local pension and savings funds may invest up to 45% of their capital offshore. This is inclusive of the 10% allowance for investments into other African countries. The proposed amendments have been through two rounds...

February 24, 2022
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23Feb

Danish pension scheme halts Russian investments

Danish pension fund AkademikerPension will immediately halt new investments in Russian assets after President Vladimir Putin recognised Donetsk and Luhansk in eastern Ukraine as independent, it said on Tuesday. The $23 billion fund said it would stop new investments in Russian government bonds and companies where the Russian state owns stakes of more than 50%. "Putin's formal recognition of the two separatist republics is a violation of Ukraine's sovereignty, which is a violation of international law. And it is also a...

February 23, 2022
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22Feb

UK. Parliament pension fund makes ESG investments

The scheme’s annual report revealed that the fund is integrating environmental, social and governance issues throughout its investment process, while making a number of commitments to ESG-aligned mandates throughout the year to March 2021. Read also UK. DWP confirms GMP revaluation rate reduction First, the scheme invested in the BlackRock Global Renewable Power Infrastructure Fund III, making its first contribution in August 2020, with further capital calls made later in the year. Read also From human rights to recycling bins: how can...

February 22, 2022
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22Feb

One of Top Korean Banks to Launch Crypto Fund

Kookmin Bank, one of the four largest banks ranked by asset value in South Korea, is set to launch its own cryptocurrency investment fund. Read also Canadian Pensions Bankrolling Elder Abuse and Misappropriation of Public Money by French Long-term Care Multinational: CUPE According to an announcement, the so-called Digital Asset Management Committee will work on a crypto exchange-traded fund (ETF). Although the timetable is unclear, the bank said it plans to speed up its efforts after the country gets more clear...

February 22, 2022
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22Feb

United States: Shareholder Activism Or Divestment? The Massachusetts Pension Fund Chooses Activism

The Boston Globe reported yesterday that the Massachusetts Pension Reserves Investment Management Board approved investment guidelines that would have the Board vote against directors of companies in which the Board invests where the company does not have a plan to reach net zero carbon emissions by 2050. As the Globe notes, there is something of a debate among climate activists whether it is better to support divestment or the kind of activism represented by the Board's action yesterday. In that...

February 22, 2022
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21Feb

From human rights to recycling bins: how can you define ‘ethical investing’?

Companies are facing increasing consumer and shareholder pressure to ensure the investments they make are ethical. But how do they define what’s ethical? Broadly, ethical investment is on the rise. According to the Responsible Investment Association Australasia (RIAA), about $1tn of the $2.24tn in managed funds is classified as responsible. That’s not just because Australians are becoming more aware of the impact their investments can have, but also because responsible or ethical investment is really starting to pay. Sustainable, environmentally...

February 21, 2022
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