Robo-voting: An Overview With the focus of government, business, and the media all centered on the singular issue of coronavirus, attention toward the upcoming proxy shareholder voting season has been moved to the back burner. Over the next few months, shareholders of publicly traded companies will be voting on various resolutions, including who sits on […]
Fallout from COVID-19 Demonstrated Rose-Colored Perspective on Pension Returns
As of the writing of this article, global markets have experienced the largest drop since the Great Depression as a result of fallout from the COVID-19 virus, erasing all gains from the economic upswing of the last two years. It is likely that with a global quarantine in effect, markets will continue to reel in […]
Bucking the Trend to Rescue New Jersey’s Pension
As three of New York City’s five pension funds move to divest from fossil fuels, one state government in the neighborhood is bucking the trend to move away from corporations operating in the carbon-based fuel industry. Governor Phil Murphy of New Jersey has warned against the impulse to sever ties completely with industries or companies […]
The Misguided Movement to Divest
At the World Economic Forum in Davos, Switzerland, Greta Thunberg demanded an end to all investments in fossil fuels. While Ms. Thunberg may have good intentions, her demands are indicative of the economic ignorance found in today’s activists. Unfortunately, BlackRock CEO Larry Fink has fallen victim to the same flawed reasoning. Just ahead of the […]
Case for Proxy Reform Glaringly Evident After Latest Debate
On January 27, the Bipartisan Policy Center hosted a discussion on the SEC’s proposed reforms to the proxy voting process. Tom Quaadman, Executive Vice President of the U.S. Chamber Center for Capital Markets Competitiveness and Pat McGurn, Special Counsel and Head of Strategic Research and Analysis at Institutional Shareholder Services examined the key elements of […]
LACERS Must Stand Up Against Divestment Pressure
As the new year begins, fiduciaries must remain vigilant against misguided abuse of our nation’s pensions. Those in charge of California’s retirees have a duty to manage the Los Angeles City Employees’ Retirement System (LACERS) with the sole objective of increasing returns. Forced divestment and politically-motivated financial decisions have been shown to compromise that outcome. […]
CalSTRS Need to Focus More on Investment Performance, Less on Proxy Advisory Firms
The issue of proxy advisory reform is at the center of debate now with the SEC entering into a formal rulemaking process to roll back some of these firm’s unchecked powers. These firms have been known to make recommendations misconstruing or misinterpreting data, they have been allowed to operate and make recommendations with clear conflicts […]
PRESS RELEASE: IPFI Applauds SEC’s Actions Fixing the Proxy Advisory Process
FOR IMMEDIATE RELEASE November 14, 2019 IPFI Applauds SEC’s Actions Fixing the Proxy Advisory Process The Institute for Pension Fund Integrity welcomes the SEC’s latest proposed rules, which seek to restore trust and accountability to the shareholder voting process by addressing a range of negative practices rampant in proxy advisory services. Arlington, VA – Last […]
PRESS RELEASE: California Treasurer Inserts Politics Into the Management of Teacher Retirement Fund
FOR IMMEDIATE RELEASE September 12, 2019 California Treasurer Inserts Politics Into the Management of Teacher Retirement Fund The Institute for Pension Fund Integrity urges California Treasurer Fiona Ma to prioritize her fiduciary duty instead of politics to optimize state investments. Arlington, VA – Yesterday, California Treasurer Fiona Ma, CPA, decided that supporting a political stunt […]
PRESS RELEASE: SEC Commission Guidance on Proxy Voting is Encouraging
FOR IMMEDIATE RELEASE August 21, 2019 SEC Commission Guidance on Proxy Voting is Encouraging The Institute for Pension Fund Integrity commends the SEC for moving towards greater clarity on the proxy voting requirements and fiduciary responsibility for institutional investors. However, more is needed. Arlington, VA – The Securities and Exchange Commission (SEC) has been reviewing […]