PGGM: Pension funds should engage firms on long term strategy

first_imgIn the opinion of Van Dam, pension funds should not be reluctant to engage if they hold a reasonably sized stake in a company. Pension funds should engage with firms in which they invest about their long term strategy, PGGM’s Jaap van Dam has argued.During the annual conference of IPE’s Dutch sister publication Pensioen Pro last week, the director for strategic investment advice said that companies have indicated that they would like engagement, as long term investors can add real value.According to Van Dam, companies prefer such an approach instead of “the umpteenth young man with a spreadsheet making enquiries about the profit per share”.As an example, he quoted Paul Polman, chief executive of Anglo-Dutch firm Unilever, as saying that he has never had an investor at the doorstep for a discussion about the company’s long-term strategy. Jaap van Dam, PGGMWith their long-term focus, asset owners could offer a counterbalance against the dominant short-term approach of some shareholders and companies, he pointed out.“[Short-termism] will lead to costs as a result of missed prosperity, sustainability and returns, and it is in the interest of pension funds’ participants to plug this gap,” Van Dam added.During the ensuing discussion, Justus van Halewijn, CIO at the €20bn asset manager SPF Beheer, said he was satisified with the results of his firm’s long-term strategy. SPF Beheer introduced a strategic investment portfolio with a seven-year horizon in 2010.“During the first seven years, the holdings have outperformed relative to the MSCI World Index,” he said.last_img read more

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Badgers, Leuer dominated in border battle

first_imgWisconsin guard Trevon Hughes and the Badgers shot just 30.5 percent for the night in a loss to UM.[/media-credit]MINNEAPOLIS — Physically dominated.Those are not words often associated with head coach Bo Ryan’s Wisconsin basketball team.But the statistics, final score and even bruised egos will bear out that this is exactly what happened to the Badger basketball squad Thursday night in a 68-52 drubbing against Minnesota in Williams Arena.The “U” pounded UW 41-28 on the boards, attempted 21 more free throws than their Badger counterparts and drew 24 fouls against Wisconsin’s 11.Any follower of Badger basketball knows Wisconsin’s goal is to make more free throws than its opponents attempt — a target the team missed by 23 Thursday night.“You have to get a lot more free throws,” senior guard Jason Bohannon stated bluntly.“We certainly haven’t been doing that the last couple games, and it tells us we need to get the ball in the paint, pump fake, get the guys in the air and do a better job of that.”Bohannon had 18 points on 6-of-12 shooting, including 4-for-7 from 3-point land.Possessing a height advantage nearly across the board, Minnesota consistently attacked the lane with deep post touches and the Gophers dropped in 22 points in the paint while holding the Badgers to a mere 11.Playing as they have every game since forward Jon Leuer was sidelined with an injury, Wisconsin was content to swing the ball around the perimeter against both zone and man defense and fire up 3-pointers. The Badgers attempted 30 from beyond the arc — opposed to 29 two-point shots — and connected on 11. The much more aggressive Gopher offense took merely nine shots from deep, burying five.Ryan, however, is not buying that UW settled for any outside shots.“I would love to have those shots. I would love to have them,” Ryan said.“We didn’t finish on some shots inside.”Having trimmed the Minnesota lead to 45-42 on a Bohannon 3-pointer with 9:40 left in the game, UW seemed poised to come back as they have against Northwestern, Penn State and Michigan this season.Instead, what followed was a nearly eight minute scoreless stretch where the Gophers extended the lead to 16, sealing their third straight victory over the Badgers. During the stretch, UW hucked up three-pointer after three-pointer, coming up empty most of the time.Sucking both the momentum and energy from the Badgers was a series of missed 3-pointers and offensive rebounds just 30 seconds after Bohannon’s deep bomb. In comically sad fashion, The Barn exploded as Leuer missed from deep, was rebounded by Mike Bruesewitz, followed with misses from Bohannon, Tim Jarmusz and Trevon Hughes as well as rebounds from Nankivil and Hughes.Hughes was 7-for-17 from the field, finishing with 19 points. He also added four steals.The empty possession deflated UW and primed Minnesota for a game-clinching run.“We had an open look, and we got another open look and that third one was an open look too,” Bohannon said. “Anytime you get those open shots and keep getting those offensive rebounds you have to make them pay somehow. We got to get some points out of that possession.”Unwilling to criticize his team in almost any facet, Ryan gave away perhaps a hint of frustration in his praise of freshman rebounding fiend, Mike Bruesewitz.On the floor for only 20 minutes, the St. Paul, Minnesota native pulled down four boards — three offensive — and kept numerous other possessions alive with his activity under the glass. Though inconsistent with the ball in his hands (zero points to five fouls), Bruesewitz was the only Badger to match the intensity of the Gopher team digging in for rebounds.In the post game press conference, Ryan made sure his freshman’s hard work did not go unnoticed.“Mike Bruesewtiz was again all over the place,” Ryan said. “If he wasn’t getting the rebound he was getting his hand on it. He is so active. We need more of that.”“He is just hungry,” Ryan continued when asked if others needed to follow Bruesewitz’ lead. “You have to be hungry to be a good rebounder.”last_img read more

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Sunderland in for Eto’o after striker snubs West Ham contract offer

first_imgSamuel Eto’o has turned down an offer from West Ham and is now being lined up for a shock switch to Sunderland, talkSPORT understands.The Cameroon striker, who took part in his fourth World Cup in Brazil this summer, is available on a free transfer following his release from Chelsea.The 33-year-old’s agent, Claudio Vigorelli, had been in talks with the West Ham hierarchy about a one-year deal with an option on a further year.However, contrary to recent reports, talkSPORT have been told by sources in Italy the offer made to the ex-Barcelona star fell short of expectations.Eto’o, who hit nine goals in 21 appearances for Chelsea last term, wants to remain in the Premier League and has already declined lucrative offers from Middle East clubs and Turkish giants Besiktas.The four-time African Player of the Year is prepared to take a big pay cut to stay in England despite claims of excessive wage demands.Sam Allardyce said at the weekend he had not given up on a deal for the veteran hitman, but Gus Poyet is now ready to step in and offer Eto’o a contract.The Black Cats boss is keen to add experience to his strikeforce and is hoping to convince Eto’o to move to the north east. 1 Samuel Eto’o in action for Chelsea last_img read more

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