Table of Contents
Issue Date: Monday, January 20, 2014
The number of public pension systems with a sole trustee might shrink to two from three, as North Carolina Treasurer Janet Cowell launches a wholesale review of the pros and cons of the approach.
A growing number of money managers are turning to the renminbi qualified foreign institutional investor program as their conduit of choice to provide clients with direct exposure to China's domestic stock and bond markets.
2014 is shaping up to be one of the most active years for hedge fund launches since before the financial crisis.
Northwestern Mutual Life Insurance Co. has put Russell Investments, its investment management and consulting business, up for sale.
CalPERS trustees are developing contingency plans to find replacements for Chief Investment Officer Joseph Dear, CEO Anne Stausboll and other top staffers in the event they can no longer serve in their roles.
Asset owners are hungry for data beyond performance analytics, spurring custodians to broaden their offerings and find another way to expand their revenue base.
Strong performance across most equity markets in 2013 bolstered estimated average investment returns for pension funds in six major markets, delivering a degree of optimism for the year ahead.
A move by an increasing number of infrastructure investors into direct and co-investments is putting more pressure on investment consultants, already squeezed by money manager competition and investor efforts to lower fees.
U.S. boutique money managers are finding it easier to garner substantial foreign assets without setting up an overseas satellite office or hiring an executive with boots on the ground.
The University of California system has engineered a major restructuring of its three defined contribution plans aimed at cutting fees and simplifying investment choices for 43,000 participants investing a total of about $17.5 billion.
December saw continued improvement in the funded status of U.S. corporate defined benefit plans, according to monthly reports from BNY Mellon Investment Management's investment strategy and solutions group and Milliman.
A recent paper says shareholders should be concerned when management teams adopt poison pills in response to hedge fund activism.
In early January, State Street Global Advisors, which manages $392 billion in SPDR ETFs, launched three actively managed exchange-traded funds with MFS Investment Management. That same week, Emerging Global Advisors and The TCW Group announced plans to market three emerging markets investment-grade bond index ETFs under the EGShares brand with TCW serving as subadviser.
The State Employees Association of North Carolina has stepped up pressure on state Treasurer Janet Cowell in recent months as she prepares to flex newly won legislative authority to raise the alternative investments allocation of the $83.1 billion North Carolina Retirement Systems, Raleigh.
Smaller firms yield full-size performance in P&I's review of 12 investment strategies.
A farewell speech by Michael Bloomberg in New York, a new report on the future of Los Angeles and concerns expressed by Chicago's mayor all underscore the need to address the looming financial crisis that affects the country's three largest urban centers.
Thinking back to 2007 — before the financial crisis — public pension plans in the aggregate had nearly 90% of the assets on hand required to pay retirement benefits due decades in the future. However, like all investors, public pension funds took a deep hit when the financial markets melted down in 2008.
Although often assumed to save money, defined contribution plans are inefficient compared with defined benefit plans, which benefit from risk pooling, economies of scale and higher investment returns.
With the recent announcement of Fed tapering due to start in January and the expectation of tighter U.S. dollar policy as normalization of growth gets underway, the investment landscape is likely to be transforming.