Table of Contents
Issue Date: Monday, May 13, 2013
Large institutional investors increasingly are “insourcing” asset management to improve returns by cutting costs.
Energy Future Holdings Corp., the company formerly known as TXU Corp., is morphing from the largest LBO ever to what could be an enormous distressed debt buying opportunity.
Institutional investors are reaching out for new risk management tools to address shortcomings in estimating risks that left them more exposed to losses in the financial market crisis than they expected.
Cheap debt and easy loan terms like those available now typically set the stage for the return of the megaleveraged buyouts, but market participants are divided over what kinds of opportunities are likely to arise.
Rising equity markets helped large publicly traded money managers such as Invesco Ltd., Affiliated Managers Group Inc. and Franklin Resources Inc. gain higher-fee inflows in the first quarter of 2013, but it's far from clear whether that could signal a groundswell toward stocks and away from lower-fee fixed-income investments.
Private equity firms' interest in money manager investments is rising in tandem with the managers' increases in assets under management and revenue.
New accounting rules effective this year are prompting a growing number of companies in Japan to add defined contribution plans to their retirement programs or to expand existing ones.
BlackRock Inc. is revving its overseas growth engine, powered to a large extent by the company's institutional business in Europe, the Middle East and Africa.
An 80-year-old tradition of silence among issuers of private offerings is coming to an end, as SEC officials finish rules lifting a ban against solicitation and general advertising during periods of fundraising.
Interactive financial calculators, long a staple of defined contribution plans, have evolved from a collection of numbers that yield a lump-sum accumulation to a detailed analysis of retirement spending that counts more than a participant's DC plan balance.
Time is running out to participate in two of Pensions & Investments' biggest editorial projects of the year.
A near-term recovery of the global economy was given no better than 50/50 odds by Mohamed El-Erian, CEO and co-chief investment officer of Pacific Investment Management Co. LLC during a packed session of the Milken Institute Global Conference.
Legal & General Investment Management has been expanding through what might be dubbed as a grave-to-cradle approach to pension funds.
Money managers in Boston stepped up to the plate to contribute to One Fund Boston, created by the city of Boston and the state of Massachusetts to assist families of the three people killed in the April 15 Boston Marathon bombings and the scores who were severely injured.
Plan sponsors and regulators continue to search for the right mix of contributions, investment choices and income streams to give participants the security once provided by defined benefit plans.
In equities, energy strategies give some firms the edge in quarter marked by major theme shift. In fixed income, high-yield bonds still dominate, but sector loses some ground in current quarter.
The American Federation of Teachers has generated a lot of heat but not much light in naming investment managers purportedly opposed to defined benefit plans.
As an employee benefits lawyer who counsels employers, I have become increasingly concerned about the implications of “pension leakage” for fiduciary liability, at least in the absence of currently available loan protection or a statutory safe harbor.
Many defined contribution plan sponsors are seeking solutions aimed at reducing undue volatility — excess volatility without a commensurate increase in return — that can prevent a plan and its participants from achieving their long-term objectives. Our research suggests hedged global bonds may be one solution.