February 26, 2013 at 1:24pm
Endowment profiles now contain more historical information. The updated profiles have five years of assets and asset allocations; both actual and policy benchmark performance is now included. Also, calculated three- and five-year annual returns are provided. The profiles now include additional information on investment personnel and investment committees. The five most senior investment staff are listed as well the members of the investment committee. Links to investment staff's LinkedIn pages are also included.
February 13, 2013 at 10:24am
Pensions & Investments recently released the P&IQ Searches and Hires Database app.
The P&IQ app (available at the iTunes store) is the newest way to stay abreast of the industry's latest search and hire activities by pension funds and other institutional investors. The default screen displays the latest searches, hires and terminations. Additional details and organization specific information can be found by tapping a particular row.
With the P&IQ app, one can:
• view the details of searches, including RFP due date, RFP contact and e-mail, and the assisting consulting firm;
• view the details of hires, including size of mandate, assisting consultant, fund name (if applicable) and finalists;
• view searches and hires by asset class, region/country and numerous other filter options;
• build league tables of the managers that have been hired the most; and
• save custom reports
The app is free, but content is only available to P&I Daily and P&I Research Center subscribers.
February 11, 2013 at 11:10am
Pensions & Investments' latest plan sponsor survey included two new questions on liability-driven investing. We asked the total assets managed using an LDI strategy and which implementation strategy pension funds were using. Seventy-one plan sponsors had almost $100 billion in LDI assets. The most commonly cited LDI implementation strategy was an “externally managed bond portfolio that hedges the liabilities.”
February 7, 2013 at 11:06am
The P&I Research Center now includes a money manager classification system. The classification system uses a proprietary methodology that categorizes money managers by ownership structure and types of asset classes managed. The classifications allow for deeper analysis of P&I's money manager universe. It also allows asset owners to more easily find a universe of managers.
January 17, 2013 at 1:22pm
Pensions & Investments collected defined benefit pension fund information of companies in the S&P Europe 350 index. The defined benefit assets totaled around $1.5 trillion. The aggregate funding ratio of 81% was roughly the same as corporations in the U.S., but it trailed Canada's aggregate funding ratio of more than 90%. There were significant differences among countries, with Great Britain and the Netherlands having significantly better corporate funding ratios than other countries. Asset allocations of European companies were slightly overweight fixed income, but overall were similar to U.S. corporations.
All of the data and a detailed report will be available online later in the first quarter.
January 9, 2013 at 5:00pm
Total hire activity was up 16.9% year over year, but was off from a brisk pace in the third quarter of 2012. Defined contribution, real assets and real estate led increases year over year. BlackRock Inc. had the most defined contribution hires in the fourth quarter with four. EnCap Investments Energy Capital Fund IX received seven commitments for a total of $293 million in the quarter.
December 5, 2012 at 12:16pm
15 of the nation's largest foundations have filed their 2011 990-PFs. Total investment assets fell 2.9% year over year to $72 billion. Significant decreases were seen in both U.S. and state government obligations and corporate bonds. Corporate bond investments decreased 20.1% to $3.1 billion. The “other” investments category, which usually contains alternative investments, was the only category that had an increase year over year. Total assets in “other” rose 4.7% to $28.8.
The Pensions & Investments team will continue to update the information as it becomes available.
December 3, 2012 at 1:48pm
Endowments have started to disclose their fiscal year 2012 investment performance and asset allocation information. The P&I Research Center has updated information for 27 endowments. After double-digit returns for fiscal year 2011, endowments' returns are modestly positive on average. The University of Pennsylvania has had the highest return with 6.8%. Click here for the list of endowments with updates for 2012.
The P&I team will continue to update the information as it becomes available.
November 28, 2012 at 9:55am
After several requests by P&I Research Center subscribers, the 2012 consultant data now include U.S. institutional assets under advisement by client type. The five categories are corporate, public, union, endowment and foundation, and other.
November 28, 2012 at 10:25am
According to board meeting minutes, the $1.3 billion Georgia Tech Foundation is reducing its exposure to U.S. listed equities to 10% from 13%. The foundation's investment committee approved increased allocations to natural resource equities, emerging markets equities, hedge funds, private natural resources and commodities. The committee also approved a new $10 million allocation to a master limited partnership portfolio and a “gold-related equity fund.”