Table of Contents

Issue Date: Monday, December 8, 2014

News

Ingredients for a great place to work

Ingredients for a great place to work

Twenty-nine firms are ranked as this year's Best Places to Work in Money Management.

Texas Teachers bringing risk parity in-house

Texas Teachers bringing risk parity in-house

Officials at the $129 billion Teacher Retirement System of Texas, Austin, are gearing up to manage about $3.4 billion in a risk-parity approach in-house, making it one of the few pension funds to design and manage its own portfolio to even out risk across asset classes.

Powerful general partners setting the terms again

The private equity balance of power is starting to shift in favor of the strongest general partners, leaving limited partners with less negotiating clout, industry insiders say.

DOL asked to back off brokerage rules

DOL asked to back off brokerage rules

Defined contribution industry representatives are resuming efforts to convince Labor Department officials that more extensive regulation of self-directed brokerage accounts is unnecessary and burdensome.

Group seeks level playing field for investors, managers

Group seeks level playing field for investors, managers

Institutional investors issued a manifesto in the form of a comprehensive set of guidelines they drafted to better align the interests of institutional investors and hedge fund managers.

Immediate multiemployer reforms urged

Immediate multiemployer reforms urged

The increasing risk that some multiemployer pension funds will be insolvent is putting pressure on lawmakers to enact some sweeping reforms in the final days of the 113th Congress before their scheduled adjournment Dec. 11.

Singapore SWF in midst of worldwide property spree

Don't tell GIC Private Ltd. executives that the tidal wave of liquidity central banks are flushing into capital markets has left little value to be had in prospective real estate investments around the globe.

Firms prepare for money market changes

Firms prepare for money market changes

Managers such as BlackRock Inc., Vanguard Group Inc., J.P. Morgan Asset Management, Goldman Sachs Asset Management and RBC Global Asset Management Inc. are retooling their cash management businesses in advance of changing regulations on net asset value for institutional prime money market funds.

U.K. firms working to enlist U.S. LDI clients

U.K. firms working to enlist U.S. LDI clients

U.K. money managers are putting their U.S. fixed-income acquisitions to work, hoping that local presence will help them to get a foot in the door at U.S. pension funds in order to introduce their form of LDI.

Managers shifting to new reality of fixed income

Managers shifting to new reality of fixed income

The fixed-income trading desks of larger money managers are setting prices of trades instead of discovering them while applying the electronic trading skills of their equity brethren to adapt to the changing nature of the secondary bond markets at a time of lower liquidity.

Little optimism for Illinois pension reform appeal

Illinois' pension reform law is headed to the state Supreme Court, where many believe a lower court ruling rejecting its constitutionality will be upheld.

RS Investments ready to take bigger piece of pie

RS Investments ready to take bigger piece of pie

Matthew H. Scanlan, CEO of RS Investments in San Francisco, is betting he can build the $26 billion firm into a much bigger enterprise, relying in large part on the acquisition of an emerging markets equity team from Principal Global Investors.

Energy sector is tapped out

Energy sector holdings have been slammed since oil began to fall this summer.

Special Report

Best Places to Work in Money Management 2014

Best Places to Work in Money Management 2014

Twenty-nine organizations have been named to Pensions & Investments' third annual list of the Best Places to Work in Money Management.

Features

Ingredients for a great place to work

Ingredients for a great place to work

Twenty-nine firms are ranked as this year's Best Places to Work in Money Management.

INTECH Investment Management

INTECH Investment Management

Employees at INTECH Investment Management work hard at their jobs, but they enjoy the work so much that, on some occasions, they can't help but sing.

At Deadline

Frontlines

Editorial

Time to shore up the PBGC

Time to shore up the PBGC

With the Pension Benefit Guaranty Corp. deficit growing to record levels and projections of continued deteriorating financial conditions, the question is: Can the PBGC be saved without increasing its premiums further, reducing the benefits it insures, resorting to a taxpayer bailout or some combination of all three?

Other Views

The coming crunch for pension plans: Derisking despite supply, low-rate issues

Many U.S. corporate defined benefit plans have engaged in strategies to narrow the mismatch between the interest rate sensitivity of their assets and liabilities. However, executives of many plans are waiting to take action. We believe three factors will conspire to put pressure on them.

Letters to the Editor

People Moves