UK pension sustainability and fund manager governance: agent duties to the principal

Journal article


Shevchenko, K., McManus, R. and Haddock-Fraser, J. 2015. UK pension sustainability and fund manager governance: agent duties to the principal. Journal of Sustainable Finance and Investment. 54 (4), pp. 205-209. https://doi.org/10.1080/20430795.2015.1106209
AuthorsShevchenko, K., McManus, R. and Haddock-Fraser, J.
Abstract

Sustainable investing includes the application of non-financial (Environmental, Social and Governance (ESG)) criteria to asset selection in institutional investor portfolios (Capelle-Blancard and Mojon 2011). The article explores the implications for applying ESG screening to the institutional investors making the asset selections. Institutional investors are a heterogeneous group of investors, with fund managers specifically being some of the largest listed organisations globally (Ingley and van der Walt 2004). Whether their own corporate management duties to fiduciary governance (the G in ESG) benefiting their shareholders has any material impact on the financial returns outcomes of the pension asset management contract, and specifically whether there is a fiduciary conflict favouring of the exclusive best interest of fund management shareholders is the question addressed by the paper.

KeywordsUK pensions; fund managers; sustainable investing; ESG; corporate governance; fiduciary duties; Principal-Agent theory
Year2015
JournalJournal of Sustainable Finance and Investment
Journal citation54 (4), pp. 205-209
PublisherTaylor & Francis
ISSN2043-0795
Digital Object Identifier (DOI)https://doi.org/10.1080/20430795.2015.1106209
Publication dates
Print02 Nov 2015
Publication process dates
Deposited13 Oct 2015
Accepted07 Oct 2015
Output statusPublished
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