Table of Contents

Issue Date: Monday, November 12, 2012

News

Risky assets don't equal riskier portfolio

Risky assets don't equal riskier portfolio

Institutional investors are turning to riskier assets to improve performance in the persistent low-yield environment, but they are doing so without dramatically increasing the risk level of their overall portfolios.

5 'gutsy' DC plan execs are honored with Innovator Awards

The five Innovator Award recipients ranged from those creating programs that sound like case studies of the awards' purpose — to drive successful outcomes for plan participants — to those proving that innovation is found in context as well as in content.

Retirement savings tax incentives in danger post election

Retirement savings tax incentives in danger post election

The odds of reduced tax incentives for retirement savings and further regulatory action on retirement issues increased significantly with the Nov. 6 federal election results.

Sovereign wealth funds now play offense as markets swing

Sovereign wealth funds now play offense as markets swing

The NZ$20 billion New Zealand Superannuation Fund's program of making investments outside of its strategic asset allocation framework when markets diverge sharply from underlying fundamentals has added value since its February 2009 launch, becoming a fixture of the Auckland-based system's investment strategy, executives say.

AllianzGI now competing with sibling PIMCO

AllianzGI now competing with sibling PIMCO

Allianz Global Investors is carving an independent path without its sister subsidiary Pacific Investment Management Co., launching a more integrated business model across asset classes and building its own fixed-income capabilities.

CalPERS-GM pension fund deal is most expensive mall sale in years

CalPERS-GM pension fund deal is most expensive mall sale in years

CalPERS' pending agreement to buy the half interest of a suburban Chicago shopping mall that it doesn't already own is a relatively rare transaction in a white-hot corner of the real estate market.

Brandes CEO has hard job ahead

Brandes CEO has hard job ahead

The new CEO of Brandes Investment Partners LP has a challenging assignment: show that the deep value equity money manager can produce positive returns and reverse five years and tens of billions of dollars in net outflows.

Investors also buying neighborhood malls

Investors also buying neighborhood malls

It's not just superregional malls that are getting investor interest.

Money managers need to shift to outcomes from alpha

Money managers need to shift to outcomes from alpha

Traditional active money managers will have to revise their investment approach away from seeking alpha and relative performance, which dominated the industry for decades, to meet outcome-oriented objectives, according to consultants and a new report from McKinsey & Co.

Some offices still unusable after superstorm Sandy slams East

Some offices still unusable after superstorm Sandy slams East

Two weeks after Hurricane Sandy ravaged swaths of New York, New Jersey and Connecticut, a number of money management firms still are waiting for their offices to be reopened.

Challengers' defeats stymie public DC plan shifts

Challengers' defeats stymie public DC plan shifts

Incumbent candidates and parties largely won re-election in state and local races Nov. 6, thwarting proposals by several losing candidates to place new public employees into defined contribution plans.

Pressures make going tough for multiboutique managers

Pressures make going tough for multiboutique managers

The multiboutique investment manager structure has come under increased pressure in today's low-return environment, with burdens such as additional organizational complexity, overlapping capabilities and obstacles to providing solutions or outcome-oriented strategies.

Crain board secretary Merrilee Crain dies

Crain board secretary Merrilee Crain dies

Merrilee Patterson Crain, secretary and board member at Pensions & Investments' publisher Crain Communications Inc. and wife of Crain President Rance Crain, died Nov. 2. She was 69.

Special Report

Innovator Awards: Recognizing trailblazing DC plans

New P&I/DCIIA award lauds defined contribution plan executives for thinking outside the box.

Top-performing money managers: Q3 2012

Small caps back to dominate the 1-year performance as investors feel confidence returning, while high-yield bonds return to forefront.

Frontlines

Editorial

Challenges after re-election

In his second term, President Barack Obama faces immense challenges in reviving the economy, spurring employment and dealing with a massive federal deficit and debt that threatens to veer out of control and lead to a possible further downgrading of the government's once-AAA credit rating.

Sandy trumps the market

Sandy trumps the market

The New York Stock Exchange made the right call to close for two days in the face of the devastating fury of Hurricane Sandy.

Other Views

Avoiding the money-market crisis

The next financial crisis in America probably will involve a large run on our money market funds, which now hold $2.6 trillion in assets. Regulators are well aware of the potential problem, but little has been done about it.

Rulemaking chipping away at financial reform

Recent rulemaking under the Dodd-Frank legislation of 2010 and the new JOBS Act give a frightening window into the way financial reform regulation has fallen victim to highly charged battles between commercial interests and investor advocates.

Letters to the Editor

People Moves

Face to Face

Public policy jobs prepped Burns for pension fund CIO

Public policy jobs prepped Burns for pension fund CIO

The years Jeb Burns spent in state government have prepared him well for his current job as CIO of Michigan's municipal retirement system.