Representatives for the investment managers — a group that includes Amundi SA and Fidelity International — didn’t provide comment when approached by Bloomberg. Superannuation fund Australian Ethical, also among the investors behind the letter, declined to comment.
(April 13): Money managers led by BNP Paribas Asset Management and Robeco Institutional Asset Management BV are putting pressure on the Philippine government to introduce stricter reporting standards for state-backed projects, following a corruption scandal tied to flood infrastructure.
The group of 11 fixed-income investors sent a letter to the Philippines’ Securities and Exchange Commission and government treasury at the end of March calling for tighter rules around use-of-proceeds disclosures, according to people familiar with the matter. The group is also asking for greater transparency around infrastructure spending, the people said, asking not to be identified as the matter is confidential.
