UCOP announces pension plan with Japanese government

By Harini Shyamsundar

On Oct. 21, the UC Office of the President announced it was the first U.S. pension plan and endowment fund to sign the Japan Stewardship Code to foster economic growth through greater involvement on the part of investors.

According to a press release, the code was created by the Japanese government last year to stimulate the country’s economy and was itself modeled after a corporate code instituted in the United Kingdom. It contains a list of seven principles designed to create “constructive dialogue” between corporations and investors.

“Signing the Japan Stewardship Code is an action in line with this broader framework adopted by the Office of the Chief Investment Officer this year, a commitment to environmental sustainability, social responsibility and prudent governance,” said UCOP spokesperson Kate Moser in an email.

By signing the code, the University of California hopes that it can improve future shareholder returns by “promoting better financial stewardship, corporate governance, and investment and dialogue,” according to the press release. The university’s decision to sign the code arose after a visit to Japan by investment professionals from the UC Office of the Chief Investment Officer of the Regents.

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[Source]: Daily Californian