Advocacy on behalf of pension funds in the United States may have recently centered around investments in firearms companies, but overseas, it's politics that guides decisions.
Bloomberg reports that a $1.8-billion Australian pension fund for pulp, paper and furniture workers has opted to pull out its holdings in Rupert Murdoch's News Corp., citing desires for a more independent board of directors.
Murdoch, head of the $60-plus-billion international media empire which includes Fox TV, the Wall Street Journal and the New York Post, continues to hold the predominant voting stake in the company, with 40 percent of Class B shares.
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