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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Dodgers ace Clayton Kershaw will start Opening Day

first_imgKershaw will make his Cactus League debut Thursday against the Chicago White Sox. He threw a normal bullpen session Monday.Also appearingThe Dodgers announced their scheduled list of pitchers for their first two Cactus League games Wednesday and Thursday against the Chicago White Sox at Camelback Ranch.Erik Bedard, Carlos Frias, Juan Nicasio, Sergio Santos, Adam Liberatore and Josh Ravin will pitch Wednesday. Kershaw, Joe Wieland, Brandon League, Chris Hatcher, Daniel Coulombe and Ryan Buchter throw Thursday. Both starters are expected to throw two innings.The Dodgers have split-squad games Friday against the Milwaukee Brewers and Seattle Mariners. Mattingly said Zach Lee and non-roster invitee David Huff will start those games. Julio Urias will pitch out of the bullpen in the home game against the Mariners.On the mendDodgers left-hander Hyun-Jin Ryu, who had been battling tightness in his back, threw a regular bullpen session. So did right-hander Joel Peralta, who had pain in his shoulder. Both pitchers emerged unscathed. “Overall my back, arm feels great. I threw all my pitches today. I feel good,” Ryu said through his interpreter. Ryu threw 32 pitches and figured he’ll need another bullpen session or live batting practice before he pitches in a Cactus League game. Peralta threw 22 pitches, all fastballs and “a couple splits.” “I think we’ve got to build strength,” Peralta said. “I need a couple more bullpens before I can pitch in the games.” Non-roster invitee Ben Rowen, who is recovering from off-season thoracic outlet surgery, threw his third bullpen session of the spring and is still a ways away from appearing in a game.NotableBench coach Tim Wallach will manage the Dodgers’ exhibition games in San Antonio against the Texas Rangers on March 20-21. … The Angels announced that flagship radio station KLAA (830-AM) will air all 162 regular-season games in 2015, 70 of which will also air on 710-AM. … The Angels have not announced who will start, or relieve, in their first Cactus League game Thursday against the Milwaukee Brewers. Newsroom GuidelinesNews TipsContact UsReport an Error GLENDALE, Ariz. — Clayton Kershaw is not just the best starting pitcher on the Dodgers’ staff, or even the most valuable player of the team. He is the reigning National League Cy Young Award winner and Most Valuable Player, with the hardware at home to prove it.So it came as no surprise Monday when manager Dodgers manager Don Mattingly said Kershaw will start Opening Day on April 6 against the San Diego Padres at Dodger Stadium.“That’s our plan,” Mattingly said.Kershaw started the second game of the 2010 season against the Pittsburgh Pirates (and got knocked around a bit, walking six batters in 4 2/3 innings.) He has started Opening Day of every season since.center_img “Did it count last year, in Australia?” Kershaw asked a group of reporters Monday. “The streak is still intact.”Only Don Sutton, Don Drysdale, Fernando Valenzuela and Ramon Martinez have started as many as five Opening Days for the Dodgers. Kershaw has a 0.35 earned-run average in his four Opening Day starts, with three wins and a no-decision. The no-decision came two years ago when he fell ill and had to leave a game in San Diego early.The honor is largely ceremonial and not always predictable. Orel Hershiser won the 1988 Cy Young Award and was healthy when the 1989 season began, but Tommy Lasorda gave Tim Belcher the ball on Opening Day.On a practical level, the Dodgers would certainly like Kershaw to pitch as often as possible — every day, if biomechanics allowed it. So it makes sense to give him the ball first.The Padres haven’t announced their Opening Day starter. last_img read more

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