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Article Excerpt
PGGM tries microfinance
PGGM - the asset manager for the e88 billion ($139 billion) Pensioenfonds Zorg en Welzijn,- will commit e200 million to fund investments in microfinance over the next two to three years, spokesman David Uitdenbogaard confirmed.
The first allocation of e27 million was awarded to BlueOrchard Finance's Dexia Microcredit Fund, which invests in microfinance in Africa, Asia, Latin America and Eastern Europe. This is PGGM's first microfinance investment. Future commitments will be funded as opportunities arise.
Northern put on probation
The $10.7 billion Los Angeles City Employees' Retirement System put global custodian Northern Trust on probation for one year over service-related problems, according to Robert Aguallo Jr. Northern Trust in February sent out 1,500 retirement checks without postage, he said. Previously, Northern Trust had three other missteps in payroll, including resending the April 2007 direct deposit statements for the May 2007 retirement payroll, according to Mr. Aguallo. A...
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