Austrian asset manager Raiffeisen Capital Management (RCM), one of the most recent signatories to the UN’s Principles for Responsible Investment (UN PRI), still “believes” in the concept of the project despite the recent defections of ATP and five other Danish pension funds.RCM, a subsidiary of Austrian banking giant Raiffeisen, recently began implementing a sustainable investment strategy, for which it poached socially responsible investing (SRI) expert Wolfgang Pinner from competitor Erste Group, making him CIO of SRI from November.He previously worked at Erste’s sustainable investment subsidiary Vinis, which had joined the PRI in 2009.Pinner told IPE he was convinced the principles underpinning the PRI “make a lot of sense”, and that “it helps when a whole company commits to them”. But he also acknowledged that the principles had seen “major restructuring” in recent years, after changes were made to the PRI’s methods of assessing whether a company has complied with its criteria or not.“These changes were not ideal, perhaps” Pinner said. “Everything has to get back on track.”However, he stressed that RCM “remains committed” to the principles and pointed out that “there are not that many opportunities for a company to show this commitment”.In a statement on the signing, RCM chairman Mathias Bauer explained why his company had chosen to step up its ESG efforts.“We see increasing interest from clients – especially severance pay funds (Vorsorgekassen) and Pensionskassen – in such products,” he said.Pinner confirmed that, in many tenders, investors were looking specifically for managers that had signed the UN PRI, adding that, among his clients, the PRI had not suffered a loss of reputation.Bauer added that RCM’s move was part of a ‘corporate social responsibility’ focus within the overall group that had “grown in importance” in recent years.As a next step, RCM will be looking to launch funds – for individuals as well as institutions – investing according to ESG criteria.Pinner said his sustainability team was also aiming to incorporate the concept of sustainable investment “a bit more within all of RCM”.
The USC golf teams both begin tournaments today, with the women taking on top competition at the Windy City Collegiate Classic and the men teeing off in the Nike Golf Collegiate Invitational.Above par · Sophomore Rico Hoey is off to a strong start in the 2014 season, with a top-three finish in only his second event of the year. The Rancho Cucamonga, California, native now has 10 career top-10 finishes. – Photo courtesy of USC Sports InformationThe No. 1 Women of Troy, last year’s NCAA runner-up, finished in sixth place at the season-opening ANNIKA Intercollegiate without several key players. Junior Annie Park, a two-time All-American, will return to the team this week, while junior Kyung Kim is still out of the lineup.Senior Doris Chen and sophomore Karen Chung led the way for USC in Kim and Park’s absence, tying for 11th individually at the ANNIKA Intercollegiate with scores of 1-under. Chen, Chung, Park and sophomores Elizabeth Doty and Gabriella Then will make up the lineup for the Women of Troy in this week’s tournament. Doty, a transfer from Wake Forest, shot a combined 3-over in her first event with USC, good for a 25th-place tie.Joining the Women of Troy at the Westmoreland C.C. in Wilmette, Illinois, will be No. 9 Arizona, No. 17 Northwestern, No. 18 Oklahoma State and No. 23 Ohio State. Last season, USC overcame a dramatic scorecard error from Park to outlast Oklahoma and win the Windy City Classic. This year’s event will run through Tuesday and can be followed on golfstat.com.The No. 23 men’s team has already found success this season, recording top-two finishes in both of its first two tournaments. Sophomore standout Rico Hoey built upon an outstanding rookie campaign in last week’s Itani Quality Homes Collegiate hosted by Washington State. Hoey tied for third place individually while the Trojans fell to Oregon in a two-team playoff.At this week’s Nike Collegiate Invitational, USC will face host TCU, along with a collection of top teams that includes No. 2 Stanford and No. 8 Washington. The Cardinal made it all the way to the NCAA semifinals last season, while the Trojans finished in 30th.Along with Hoey, head coach Chris Zambri’s lineup features senior Eric Sugimoto, junior Bobby Gojuangco, and freshmen Jonah Texeira and Sean Crocker. Texeira was excellent at last week’s event, tying with Gojuangco for 10th-place at 1-under in only his second collegiate event. The score was also a career-best for Gojuangco, a transfer from San Diego State who joined Zambri’s squad last season.The Trojans will play two full rounds today with another to come on Tuesday. Play at the Colonial C.C. in Fort Worth, Texas, can also be followed on golfstat.com.
The out half has not recovered in time for the game so Joey Carberry will start at number 10.Rob Kearney is fit and takes his place at full back while Sean O’Brien is in the back row.Robbie Henshaw and Gary Ringrose are paired in the centre with Kildare’s Adam Byrne making his European debut on the wing. Meanwhile, Ex-Munster back JJ Hanrahan is included in the Northampton team for the clash with Leinster.The Kerry man is at centre.