TORONTO--(BUSINESS WIRE)--CPP Investments has topped the list of the most transparent funds according to the Global Pension Transparency Benchmark, which has revealed the scores of the 75 underlying funds from 15 countries for the first time.
The Global Pension Transparency Benchmark (GPTB), a collaboration between Top1000funds.com and CEM Benchmarking, is a world first global benchmark measuring transparency of pension disclosure, bringing a focus to transparency in a bid to improve pension outcomes for members.
The GPTB, launched in February 2021, measures the transparency of disclosures of 15 pension systems across the value generating measures of cost, governance, performance and responsible investing.
It ranks countries on public disclosures of key value generation elements for the five largest pension fund organisations within each country. While the country rankings are now in their second year, the scores of the underlying funds have been revealed for the first time.
CPP Investments emerged with the best score overall and also the best score for governance disclosures. Three Canadian funds featured in the top five of the best overall funds. Canada also topped the country list in 2022 for the second year in a row.
The Dutch fund, Stichting Pensioenfonds Zorg en Welzijn (PFZW), topped the list for cost; CalPERS for performance; and Sweden’s AP4 was the best fund for transparency of disclosures related to responsible investing.
Head, Business Development at CEM Benchmarking, Mike Heale, says “Transparency is the right thing to do and the smart thing to do. Congratulations to the top-ranking funds on the GPTB for leading the way on transparency and communication quality.”
Amanda White, editor of Top1000funds.com, said revealing the scores of the underlying funds emphasised the importance of clarity and openness in pension fund disclosures.
“Through the benchmark we offer a standard for global pension systems and funds to aspire to. We think transparency of these factors – cost, governance, performance and responsible investing - is important to drive improvement of outcomes for pension funds around the world.”
The Global Pension Transparency Benchmark is a world first global standard for pension disclosure, bringing a focus to transparency in a bid to improve pension outcomes for members.
Revealing the underlying fund scores aims to focus on best practice and encourage improvement on transparency of disclosures.
This new benchmark reframes the narrative away from a narrow and negative focus on costs to a more holistic and positive concept of transparency and include value generation, governance and strategy, and sustainability.
For the results – for both country and funds – click here.
The Global Pension Transparency Benchmark advisory board:
- Keith Ambachtsheer, president, KPA Advisory Services; co-founder and board member, CEM
- David Atkin, chief executive, PRI
- Lorelei Graye, founder, Adopting Data Standards
- Angélique Laskewitz, director, Association of Investors for Sustainable Development
- Neil Murphy, vice-president, communications, Investment Management Corporation of Ontario
About CEM Benchmarking (CEM)
CEM Benchmarking is the leading, independent provider of cost and performance benchmarking information for fiduciaries and managers of asset pools: defined benefit, defined contribution, sovereign wealth, and other managed assets worldwide. CEM is deeply committed to helping clients, whether directly or through advisors/consultants, run cost-effective operations that generate value for their stakeholders. With vast industry knowledge and a robust database spanning 30 years and $11+ trillion in AUM, CEM helps more than half of the world’s top 300 pension schemes understand and manage their costs and performance. CEM also facilitates better pension outcomes by both sharing cutting edge research derived from its proprietary databases and hosting annual conferences.
About www.top1000funds.com
Top1000funds.com is the market leading news and analysis site for the world’s largest institutional investors. It focuses on leading the global investment industry to continuous improvement through case studies of best practice in governance and decision making, portfolio construction and efficient portfolio management, fees and costs, and sustainable investing.
The publication pushes the industry to question whether status quo processes and behaviours to tackle risks and opportunities will be sufficient in the future, and actively campaigns for diversity, sustainability, transparency, innovation and better alignment of fees in the investment industry.
Top1000funds.com is read by investment professionals in more than 40 countries.
Related Links:
Home: https://global-pension-transparency-benchmark.top1000funds.com/
Funds Scores: https://global-pension-transparency-benchmark.top1000funds.com/global-pension-transparency-benchmark-funds-2022/
