Table of Contents

Issue Date: Monday, October 1, 2012

News

Investors move down the credit ladder to find yield

Investors move down the credit ladder to find yield

Stretching for yield, institutional investors in fixed income are looking for more efficient ways to move down the credit spectrum and diversify subinvestment-grade debt portfolios.

Public pension funding ratios still tumbling

Public pension funding ratios still tumbling

The average funding ratio of the largest 100 public pension plans continued its descent in fiscal year 2011.

Republicans build up, then fight, issue of bailouts for pension funds

Republicans build up, then fight, issue of bailouts for pension funds

Concern over underfunding of both public and corporate pension plans has Republican presidential candidate Mitt Romney and other conservative voices raising opposition to the prospect of federal government bailouts.

Defined contribution mutual fund asset growth cools considerably

Defined contribution mutual fund asset growth cools considerably

The top 25 managers of defined contribution mutual fund assets reported a combined total of $1.69 trillion as of June 30, up 5% since the end of 2010, according to a survey by Pensions & Investments.

Blackstone's Schwarzman: Alignment of interests is 'off the table'

Blackstone's Schwarzman: Alignment of interests is 'off the table'

Blackstone Group has taken “off the table” the issue of how the private equity firm's interests are aligned with those of its investors, Stephen Schwarzman, Blackstone founder, chairman and CEO, said in an interview.

Solving the public pension plan funding crisis

Solving the public pension plan funding crisis

Severely underfunded public defined benefit plans will have to try a bit of everything to shrink liabilities, from benefit cuts to contribution hikes to accelerated payments, and paying more attention to costs overall.

U.K. firms keen to export diversified growth strategies

U.K. firms keen to export diversified growth strategies

U.K. multiasset managers have set their sights on the U.S. institutional market, drawing on the success of diversified growth fund strategies that have gained rapid popularity among British investors, despite feelings that some could be in for a hard time.

Brevan Howard attracting institutions

Brevan Howard Asset Management LLP, already widely acknowledged as the largest European pure-play hedge fund manager, is fast approaching the top of global hedge fund rankings.

Some public pension execs worry new GASB rule will add fuel to fire

Public pension plan executives keeping a watchful eye over their funding levels will have another number to worry about next year when new Governmental Accounting Standards Board rules usher in a stark indicator: net pension liability.

JOBS Act gives new voice to managers

JOBS Act gives new voice to managers

Though there probably won't be billboards with alternative investment managers beaming down on expressways as a result of new marketing rule proposals stemming from last spring's federal JOBS Act, firms could be free to discuss new funds while they are being raised.

Phones don't ring off hook as DC plan fee disclosure notices hit

After years of regulatory wrangling, defined contribution industry professionals are getting little response — either favorable or unfavorable — from plan participants to the Labor Department's fee-disclosure rules that took effect Aug. 30.

ETF assets rising, but some find the going tough

ETF assets rising, but some find the going tough

The ETF market is a confusing place at the moment.

Eddy Awards deadline is Oct. 15

The deadline for the 2013 Eddy Awards is fast approaching.

P&I opening Asian editorial office

P&I opening Asian editorial office

Douglas Appell, a Boston-based reporter with Pensions & Investments covering the business of money management for the past nine years, will be moving to Singapore early this month to open the newspaper's first office in Asia.

Special Report

Funded status of public pension plans: 2012

Severely underfunded public defined benefit plans will have to try a bit of everything to shrink liabilities, from benefit cuts to contribution hikes to accelerated payments, and paying more attention to costs overall.

Mutual funds most used by DC plans: 2012

After past increases of 17% and 28%, top 25 managers gain a more modest 5% for period.

Frontlines

Editorial

Carlyle's challenge

Carlyle's challenge

When talent and management come into conflict at a money management firm, they can create a toxic environment that threatens the firm's stability, investment performance and growth.

Letters to the Editor

Department: Portfolio Management

Asia's growth markets can offer superior value

Asia's growth markets can offer superior value

Investors tend to think of pan-Asia as a growth story — and with good reason. Most Asian countries are growing their GDPs at double or more of the annual growth of developed markets. Most investors go to Asia in search of this growth story. But in our experience, Asia offers equal and perhaps superior opportunities for value investors.

People Moves

Face to Face

There is no place like home for pension exec David Zellner

There is no place like home for pension exec David Zellner

David Zellner found his job as chief investment officer of the General Board of Pension and Health Benefits of the United Methodist Church in 1997 through a classified ad in Pensions & Investments.