Table of Contents

Issue Date: Monday, January 21, 2013

News

Investors wonder if venture capital is worth the wait

Investors wonder if venture capital is worth the wait

Venture capital isn't dead, but it is riddled with ailments. Returns are lousy. Fundraising is down. And exits — both initial public offerings and mergers and acquisitions — are down from 2011.

Fixed-income hedge fund assets emerge on top

Fixed-income hedge fund assets emerge on top

Long/short equity hedge fund strategies lost industry dominance for the first time in 2012.

NHL players score new pension plan

NHL players score new pension plan

Players taking to the ice in a shortened National Hockey League season will have their own defined benefit plan.

ETFs open doors to other institutional accounts

On the eve of the 20th anniversary of the first U.S. listed exchange-traded fund — the SPDR S&P 500 ETF — both institutional investors and money managers are still hashing out their views on exchange-traded products.

VicSuper's new index takes knife to U.S., Japan bond exposures

The A$9.2 billion (US$9.7 billion) Melbourne-based VicSuper has adopted a customized index for its passive bond investments, dropping its market-cap-weighted index in favor of one with less exposure to the U.S. and Japan.

New Congress offers hope for pension issues

New Congress offers hope for pension issues

While wholesale policy changes are not expected in President Barack Obama's second term, some new Capitol Hill assignments have sparked a glimmer of optimism among retirement and investment industry observers.

After scary start, year ends well for world's pension funds

Double-digit performances across most equity markets buoyed 2012's estimated average investment return across six major pension fund markets, providing some respite from the previous year's pounding.

Winds of change swirl around TCW

Winds of change swirl around TCW

Changes are occurring at a fast pace at Los Angeles money manager TCW Group Inc.

Fewer shareholder proposals, greater board outreach seen

Fewer shareholder proposals, greater board outreach seen

The proxy season opens with the biggest number of shareholder proposals corporations confront coming from a group of investors representing $428.1 billion in combined assets and led by a Harvard University initiative, filing 74 resolutions calling for annual elections for directors.

Pew study finds dismal funded status for most U.S. city pension plans

Pew study finds dismal funded status for most U.S. city pension plans

A new analysis by the Pew Center on the States found an average pension funding level of 74% in fiscal 2009 and a shortfall of a combined $99 billion among 61 key U.S. cities.

Marco sets in motion a restructuring

Marco sets in motion a restructuring

Consulting firm expands employee ownership as it prepares for succession.

Special Report

U.K. Pension Funds and Money Managers

Pensions & Investments’ inaugural survey of the funds and managers of the U.K.

Frontlines

Editorial

Misdirected furor

Misdirected furor

The sorrow and anger over the killings of students and teachers in Newtown, Conn., have provoked an understandable impulse by pension fund executives and other institutional investors to do something to help stop gun violence.

Other Views

Schapiro legacy a tougher stance on ESG issues

Mary L. Schapiro, who stepped down last month as chairman of the Securities and Exchange Commission, had a four-year tenure marked by significant accomplishment.

Misinformation adds to public pension plan woes

If a public or corporate official distributes false financial information that serves as the basis for unwarranted action by others, they are guilty of either fraud or negligence depending on whether it was signed off on knowingly or carelessly. Why then are academics not held to the same level of accountability?

Letters to the Editor

Face to Face

DDJ's Breazzano started in finance as a dabbler

DDJ's Breazzano started in finance as a dabbler

Wanting to sample a variety of careers, DDJ Capital's David Breazzano didn't expect to love the first one he tried.