Commercial Union Pension Fund Company exercises its voting rights to ensure security and increase in the value of Commercial Union Pension Fund participants' investments.
Commercial Union Pension Fund Company exercises its voting rights to ensure security and increase in the value of Commercial Union Pension Fund participants' investments.
Corporate governance standards help in setting policy at general shareholders' meetings. Following these standards, CU Pension Fund Company takes care of equal treatment of shareholders, promotes an effective market and clear division of authority of its participants.
"By exercising the voting rights at the general meetings of companies in whose shares we invest the resources entrusted to us, we represent the interests of our customers. This is an integral part of the investment process in Commercial Union Pension Fund Company. In 2006 we participated in 85 general meetings and voted on over one thousand resolutions," - said Michał Szymański, board member and investment director of CU Pension Fund Company.
Corporate governance standards enable shareholders to influence the decisions undertaken on their behalf at general shareholders' meetings. In December 2006 the monthly magazine "Investment & Pensions Europe" underlined Commercial Union's contribution in promoting the corporate governance standards by recognising CU Pension as the best pension fund in Central and Eastern Europe.
Since the start of the pension reform in 1999 Commercial Union leads the pension fund market by number of customers as well as by asset value. The Commercial Union fund has been chosen by more than 2.6 million people and its asset value exceeds 36 billion zlotys. The average account value of a member of CU Pension Fund exceeds 13,000 zlotys and is, on average, 30% higher than in other funds.
CU Pension Fund achieved very good results in its recent May transfer session: 18,500 members of other funds switched their pension assets to CU - the largest number of people switching funds in this transfer session.
-ends-
Information:
Bohdan Białorucki
Telephone: + 48 22 557 43 41
E-mail: mailto:public_relations@cu.com.pl
Grzegorz Mathea
Telephone: + 48 22 557 23 70
E-mail: grzegorz_mathea@cu.com.pl
For further information, see http://www.cu.pl/
Notes to editors:
Commercial Union Poland group is part of the international Aviva group - the world's fifth largest insurance, savings and investments group, and the largest in the United Kingdom by revenues. Aviva group operates in 25 countries. It occupies a strong position in the European Union, including United Kingdom, Ireland, France, the Netherlands, Spain, Italy and Poland. It also conducts large scale activities in the USA, Canada, Australia and Asia. It services approx 40 million customers and manages assets valued at over £364 billion. For additional information, see the website /