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BMO GAM Lands Responsible Investment Mandate with NZ Crown Financial Institutions

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BMO Global Asset Management, part of BMO Financial Group, was appointed by the New Zealand Superannuation Fund (NZSF), Accident Compensation Corporation and Government Superannuation Fund to provide responsible investment engagement services globally. Combined, the three crown institutions manage US$ 41 billion. BMO provides a global engagement service called reo® in which the services are applied to around US$ 106.5 billion assets as of December 31, 2014.

The NZSF sees environmental, social and governance (ESG) factors as essential when generating long-term investment returns. The superannuation fund plans to work with BMO Global Asset Management to enhance the reach and effectiveness of its global engagement initiatives. By having external assistance, the NZSF can focus on New Zealand company engagements.

Barry McInerney, Co-CEO, BMO Global Asset Management, said in a press release, “We believe in generating long-term value for our clients, and so we are very pleased to be working in partnership with the CFIs in using their ownership rights to support the sound management of ESG factors at companies. This is part of a wider industry trend with institutional investors increasingly interested in encouraging companies to reduce their business risks, and holding them to account. Responsible investment is a part of what defines BMO Global Asset Management and will continue to be a core area of our business.”

Matt Whineray Officially Named CEO of NZ Super Fund

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On June 19, 2018, the Board of the Guardians of New Zealand Superannuation (NZ Super Fund) officially appointed Matt Whineray as chief executive officer. He has been acting CEO of the sovereign wealth fund since March 2018. Whineray joined the organization in 2008 as general manager, private markets and in 2014 became chief investment officer. The appointment is effective July 1, 2018.

An executive search was conducted when Adrian Orr decided to take the governor job at New Zealand’s central bank.

Here is an interview SWFI conducted with Matt Whineray.

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SWFI First Read, June 19, 2018

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Tronc to Revert to Original Name – Tribune Publishing

Publishing company Tronc will go back to its current name Tribune Publishing. Tronc is the parent company of the New York Daily News and Chicago Tribune. Tronc stood for Tribune Online Content, but received vast ridicule from the U.S. media community.

Denholm to Lead as CIO of Solutions Unit at Aviva Investors

Al Denholm was named Chief Investment Officer for the new solutions unit at Aviva Investors. This is a new position and Denholm is based in London. He will report to Aviva Investors CEO Euan Munro. Denholm was Chief Executive Officer at Prudential Portfolio Management Group.

Hostetter Gets Fresh Start at Russell Investments

Robert Hostetter was named Global Head of Product at Russell Investments. He will report to Michelle Seitz, CEO and Chair of Russell Investments. Previously, Hostetter was Managing Director and Global Head of Product Strategy at AllianceBernstein.

President Trump Wants a Space Force Branch

U.S. President Donald Trump revealed plans at directing the Pentagon to form a new space force branch of the military.

Greenpeace Occupied AP3’s Offices Last Week

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CalPERS Reveals More of New Private Equity Model

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The California Public Employees’ Retirement System (CalPERS) is a major U.S. pension player in private equity.

CalPERS is keen on using this direct model to better source and take advantage in private equity to meet its goal of a 10% target, while lowering fees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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