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Asset managers warned over poor data governance in ESG rush

first_imgAssociated risks, according to the report, included ill-informed investment decisions, inaccurate disclosures to regulators and investors, disingenuous marketing materials, and mis-selling claims.The report was co-authored by Adam Taylor, data governance lead at Aviva Investors – although he provided input in a personal capacity. Bevan previously worked at Aviva Investors as head of central investment services. As a consultant she has done work at firms such as Janus Henderson, Fidelity, and Amundi (Pioneer), according to her LinkedIn profile. She was recently interim chief operating officer, investments for GAM Investments. Asset managers must be careful not to apply lower standards of governance to environmental, social and corporate governance (ESG) data than to other inputs into the investment process, according to a report.Many firms were effectively doing just that, however, and exposing themselves to a range of risks in the process, the report suggested.“The importance of good data governance does not end when it comes to ESG data,” wrote Tarne Bevan, an independent consultant and main author of the report.“Yet in the rush to join the growing enthusiasm for ESG investments, many firms ignore the imperative for strong data governance.” Tarne BevanThe paper, which was self-initiated, was intended as “a prompt”, Bevan told IPE.“I’ve been looking at the area of ESG for the last couple of years and I noticed from a lot of my contacts, peers and friends in the industry in different functions that a lot of them hadn’t really grasped how it was being integrated beyond the investment areas,” she said.“This wasn’t a promotional thing for me. I’m just interested in the fact that if we’re trying to do [ESG] right we need to think about it a bit more deeply and not create a cottage industry around this.”It was important for asset managers to bring along the non-investment functions of their business as they sought to get on the ESG “wave”, Bevan said. The report stated: “The impetus for this paper has come from the belief that complete and successful embodiment of sustainability considerations within investment and wealth management firms can only occur if they become part of the day-to-day operations, practices and culture.”What asset managers can doThe report identified three steps to mitigating the risks – reputational, regulatory and fiduciary – involved in using or producing ESG data. According to these, asset managers should:Assess ESG data in terms of its sourcing method, the timeliness of collation, periodicity and availability, plus any methodologies used in its publication;Consider the implications of integrating the data in investment processes “in terms of its relatedness to financial data and applicability to the capital structure of investee companies”; andAgree how to integrate data into an existing governance framework, ensuring appropriate subject matter experts across the relevant business functions are involved, such as representatives from investment, marketing, product, client reporting, compliance, risk, data and IT functions.A copy of the report can be downloaded below.,Supporting documents Click link to download and view these files ‘The importance of ESG data governance’, July 2019PDF, Size 0.71 mblast_img read more

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Pietersen concerned about England pace post-Anderson, Broad

first_imgBy Sudipto GangulyMUMBAI (Reuters) – Kevin Pietersen is concerned about England’s test bowling resources when the long-serving pace duo of James Anderson and Stuart Broad call time on their careers, the former captain has told Reuters.The experienced new ball pair, both in their 30s, have recently said they were aiming to be part of England’s bid to reclaim the Ashes in Australia next year and would subsequently consider retirement.“I am worried about England’s Test team, when Broad and Anderson go. They are on their last legs at the moment,” Pietersen told Reuters in an interview.“If Broad and Anderson go, there’s going to be a big, big gap to fill. Do they have the bowlers?“Mark Wood is very good, however he’s full of injuries. And Joffra Archer, he’s also had that elbow injury during that South African series, so he hardly played.“So it will be about how quickly England can fill that gap because … if you can’t take 20 wickets in the Test match you really are behind the eight ball.”Anderson, 37, is Test cricket’s most prolific fast bowler with 584 victims but has not played since January when he suffered a rib injury in South Africa.Broad, who is second on England’s list with 485 wickets, is four years younger but does not see his playing career continuing as long as Anderson’s.Pietersen was more confident about the leadership of the team, though admitted he was among those who had reservations about Joe Root’s captaincy before the 3-1 Test series triumph in South Africa earlier this year.“I think that he came away from that tour a much better leader, a much better captain, and with a lot more respect from a lot of people that had reservations about him leading into that Test tour in South Africa,” he said.SENSATIONAL STOKES England held Australia to a 2-2 draw in last year’s home Ashes series but even then needed Ben Stokes’s brilliant unbeaten 135 to win the third Test in thrilling fashion at Headingley.The New Zealand-born all-rounder also played a spectacular leading role in England’s 50-overs World Cup triumph in 2019 and was Player of the Series in South Africa.“He’s been absolutely sensational over the last few years,” said Pietersen.“We all knew he had cricketing talent, we all knew he had the ability to turn the game on its head.“But for him to consistently do it, and for him to prepare the way that he continues to prepare, and to play the way that he plays, he is a huge asset to that England team.”Despite his appreciation for Stokes’s abilities, Pietersen said it was too soon to compare the 28-year-old with England great Ian Botham.“Comparing people, I think you can only do at the end of a career,” said Pietersen, who scored more than 8,000 runs for England in 104 tests.“In terms of match winning they’re right up there with each other. They both win games, single-handedly, so the comparisons I think are quite unfair while a guy is still playing.“I hated being compared to people. I just wanted to play and be me.”South African-born Pietersen has continued to be himself after retiring from cricket in 2018, becoming deeply involved in animal conservation and highlighting the plight of the rhinoceros.His charity, Save our Rhino Africa/India (SORAI), will be relaunched towards the end of June.last_img read more

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I Will Deliver Nigeria’s First Gold, Kehinde Pledges

first_imgOut here though, Kehinde is facing difficulties because of the logging of so many weights together to fight for the weight.  ‘’I’m ready and focussed but I want to lose weight so as not to be knocked out by those whose body  weights are smaller than mine. I promise to deliver Nigeria with a gold and also a world record’’, he pledged as his competition begins on Wednesday.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram As Nigerians look anxiously to the day the country’s national anthem would be played at the ongoing Commonwealth Games in Gold Coast as a sign that a gold medal has been won, one Paralympic athlete, Paul Kehinde has anointed himself as the one to end the anxious wait.Kehinde competes in the Powerlifting 65 kg but has to contend with body weights from 49 to 72 who are equally eyeing the gold in that category.The secret to a podium performance is not only dependent on what you lift but mostly determined  by the athletes body weight. The lower you weigh, the better chances you have in overtaking those you tie with in the weights lifted.‘’I’m focused. There is no problem here in the Village. The only problem that I have is focusing on the gold medal. And for me to strike gold, I have to lose weight not to be surprised by those weighing less than me’’, Kehinde said after a strenuous exercise that spanned hours aimed at keeping in shape for the D’ Day.Kehinde may look harmless but his credentials and the number of World Records he has crashed speaks for him.“Every competition he attends, he breaks World Records’’ national Paralympic Coach, Are Feyisetan said, concurring that his athlete  was  a gold material.Kehinde smashed the World records in Rio Brazil for the Olympics where his amazing lift of 220kg could not be attempted by other athletes. In Mexico at the World Championships, Kehinde shattered his own World record with 221kg lift. He did not stop there. At the World Cup and Olympic qualifiers in Dubai in February, Kehinde went for 222kg lift. The World looked in amazement and he powered the lift to the sky and held it up until the mandatory counts to make history again.last_img read more

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