Table of Contents
Issue Date: Monday, February 3, 2014
Defined contribution assets among the nation's largest 1,000 retirement plans grew 16.93% in the year ended Sept. 30, more than double the 8.11% rate of defined benefit assets.
Corporate America's move away from defined benefit plans hit a dubious milestone: For the first time since Pensions & Investments began listing the largest U.S. retirement plans, not a single corporate name appears in the ranking of the 10 largest defined benefit plans.
The past five years have been tough on active money managers, but some consultants and data analysts think 2014 could mark the end of that struggle.
Booming fourth-quarter equity returns boosted assets under management of the largest publicly traded money managers.
Illiquid real asset investment strategies, energy and distressed debt had the most growth among the non-hedge fund alternative investment strategies, in the year ended Sept. 30, according to the findings of Pensions & Investments' top 200 retirement plan survey.
Ronald O'Hanley's pending departure from Fidelity Investments, while seeming to come from nowhere, was inevitable, a number of industry sources said.
Assets invested in hedge funds by defined benefit plans grew faster than any other large alternative investment asset class in the year ended Sept. 30, according to data from Pensions & Investments' annual survey of the nation's largest retirement funds.
A strategy that was supposed to smooth out returns has instead taken the $9.62 billion San Diego County Employees' Retirement Association on a wild ride, putting its investment performance in the bottom quartile last year after scaling top-quartile heights in 2012.
Transition managers' assets from U.S. pension funds declined 10% to 15% in 2013 as those clients managed more traditional investments internally, reduced the amount that's rebalanced, and increased their allocations to alternative investments.
Even in a bang-up year for endowment returns, the largest U.S. college and university funds were for the most part outflanked by the higher fiscal year-end returns of their smaller brethren.
An ambitious idea for a universal retirement program introduced Jan. 30 by Sen. Tom Harkin, D-Iowa, is being welcomed for advancing a national debate on ways to improve retirement security, but it faces an uphill climb in Congress.
A period of extended underperformance in emerging markets has started to hit some money managers where it hurts: their assets under management.
The doors to wider cross-border distribution of funds in the Asia-Pacific region will begin opening this year, but many money managers say they'll await the regulatory details before reacting.
The unexpected announcement that PIMCO CEO and Co-Chief Investment Officer Mohamed El-Erian was resigning adds new problems for a firm already under stress.
The proxy season has triggered a gold rush of activist institutional investors challenging companies. But this swell in corporate governance activity could strain investors' resources, especially related to executive pay issues and shareholder engagements.
Target-date funds continued gaining popularity in the year ended Sept. 30, with assets invested in the option reaching $122.2 billion among DC plans in Pensions & Investments' ranking of the largest U.S. retirement plans.
PBGC management hopes to take greater advantage of a little-used tool for restructuring multiemployer pension plans, as the number of candidates likely to seek the agency's help grows.
Australia's superannuation funds eclipsed A$1.6 trillion (US$1.4 trillion) in the fiscal year ended June 30, 2013.
If proxy voting is the principal way shareholders influence corporate governance and the direction of corporations, the rules of the Securities and Exchange Commission fall short in enabling shareholders in contested elections to select the combination of nominees they believe will best foster long-term value creation.