Table of Contents

Issue Date: Monday, March 4, 2013

News

Pension funds take new tack in diversification

Pension funds take new tack in diversification

Some large pension funds are grouping together risk premiums as the basic building blocks to diversify equity portfolios, substituting them for traditional methods based on such characteristics as geography and sectors.

ORIX enters big leagues with acquisition of Robeco

ORIX enters big leagues with acquisition of Robeco

ORIX Corp.'s planned purchase of a controlling stake in Robeco Group will elevate the Tokyo-based financial firm from a bit player in global money management circles to the big leagues.

Institutions move to add volatility strategies

A number of institutional investors intend to carve out an allocation in their asset mix for volatility strategies, despite consultants' views that volatility is not yet a formal asset class.

CalPERS backing ESG engagement with stock purchases

CalPERS backing ESG engagement with stock purchases

The California Public Employees' Retirement System has quietly started a program aimed at doubling down and reaping more profit from public companies it is engaging on environmental, social and governance issues.

Co-investing deals blazing a comeback

Co-investing deals blazing a comeback

Private equity firms are relying more on limited partners than rival firms to finance big buyouts.

Corporate pension funded status not rising despite contributions

Corporate pension funded status not rising despite contributions

Corporations have added $1 trillion in assets to their defined benefit pension plans in the last four years, only to see their average funded status remain essentially static and their aggregate unfunded level grow 15% to an estimated $441 billion, according to a J.P. Morgan Asset Management Inc. executive analyst.

South Carolina takes new look at partnerships

The South Carolina Retirement System Investment Commission, Columbia, is in the process of restructuring its $6.7 billion strategic partnership network, shutting down its $3.9 billion portable alpha strategy, and deciding on a new asset allocation, according to information presented at a Feb. 28 meeting.

LDI bandwagon rolling on

More than a quarter of the country's largest pension funds are using a liability-driven investing strategy, according to data collected by Pensions & Investments.

Artio acquisition a quiet ending for once-bright star

Artio acquisition a quiet ending for once-bright star

Artio Global Investors Inc.'s pending acquisition by Aberdeen Asset Management will be an inglorious end to a once high-flying money manager that made its name with strong international equity performance.

Different yardsticks required to measure LDI's success

Different yardsticks required to measure LDI's success

It's one thing to do liability-driven investing. It's another thing to measure its success.

ESOPs feel heat from campaign against abuses

A Department of Labor push to curb employee stock ownership plan abuses is catching more plan sponsors and their fiduciary consultants for a variety of transgressions.

401(k) plans make aggressive moves to limit access to company stock

401(k) plans make aggressive moves to limit access to company stock

As company stock plays a declining role in defined contribution plans, executives at some corporations have taken more aggressive steps to reduce participants' risk of holding outsized amounts of employer stock in their retirement accounts.

More plans turning backs on company stock options

Surveys demonstrate that company stock, on average, is playing a much reduced role in defined contribution plan menus.

Dutch regulator seeks portfolio assessments

Dutch regulator seeks portfolio assessments

The Dutch central bank De Nederlandsche Bank wants the country's pension funds to invest in alternatives with eyes wide open.

P&I seeking DC execs with cutting-edge ideas

P&I seeking DC execs with cutting-edge ideas

Entries are now being accepted for the 2013 Innovator Awards, sponsored by Pensions & Investments and the Defined Contribution Institutional Investment Association.

New headache looms for private equity, hedge fund firms

A federal tax law aimed at preventing Americans from hiding their assets overseas will soon be a major compliance challenge — some say headache — for private equity and hedge fund managers.

DC record keeper assets climb to all-time high

DC record keeper assets climb to all-time high

While Fidelity Investments broke the $1 trillion level, other top firms play musical chairs in rankings, according to the latest Pensions & Investments survey.

Special Report

Defined contribution record keepers 2013

Record keepers reported an all-time high of over $4 trillion in assets, according to the latest Pensions & Investments survey.

Special report: LDI

Despite debate over timing on interest rates, many large corporate pension funds embrace strategy.

Frontlines

Editorial

Building a better index

Building a better index

Private equity has become mainstream in the asset allocations of pension funds and other asset owners, but in one important way it is still a frontier market.

Letters to the Editor

Tradewatch

People Moves

Face to Face

Legg Mason's Sullivan is well suited for change

Legg Mason's Sullivan is well suited for change

Joseph Sullivan became CEO of Legg Mason after a 'test drive' as the interim leader and hopes to move the firm in a new direction.