LOS ANGELES — The 25 largest pension funds held in aggregate about 3% of the stock of the 10 companies ranked the worst in accounting and corporate governance issues, according to Audit Integrity LLC.
Of the 10 companies ranked best in corporate governance and accounting, the pension funds held in total about the same proportion.
All data are as of Dec. 31.
Qwest Communications International Inc. ranked worst, according to the Audit Integrity study. It was followed, in ascending order, by Cinergy Corp., Merck & Co. Inc., Bank of New York Co. Inc., UnitedGlobalCom Inc., Allied Waste Industries, Tyco International Ltd., XM Satellite Radio Inc., E.I. du Pont de Nemours & Co. Inc. and El Paso Corp.
Hartford Financial Services Group Inc. ranked best. It was followed by SunTrust Banks Inc., Travelers Property Casualty Corp., Banknorth Group Inc., Everest Re Group Ltd., Boston Properties Inc., MetLife Inc., Sara Lee Corp., Staples Inc. and SouthTrust Corp.
The largest pension funds held in aggregate 2.49% of Qwest and 4.19% of Hartford.