Thursday, 11 October 2007

Pensions and Capital Stewardship Project

A quick plug for the work being done by the Pensions and Capital Stewardship Project within the Labour and Worklife Program at Harvard Law School. There is an overview of the project here. The project has also just published its first newsletter which can be found here. I think the newsletter is really useful, and a really good introduction for any union members/activists who want to get into capital stewardship. It's easy to read but also full of useful links.

There's a good analysis of private equity, for example, that provides a balanced look at how it actually stands up as an asset class, in addition to the questions about impact on jobs. Plus it makes the important point that unions actually have a history of working with some private equity firms with positive results. The publication also looks at the performance of pension funds vs mutual funds (you know, the 'professional' investors), no prizes for guessing which did better. In fact the same point could be made about industry superannuation funds in Australia, and our very own local government pension scheme in the UK (vs private secctor schemes in this instance).

And finally any newsletter that plugs Prof Lucian Bechuk's work on exec pay is going to get my vote. Definitely worth a read.

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