Table of Contents

Issue Date: Monday, February 3, 2014

News

DC assets jump 17%, more than double DB growth

DC assets jump 17%, more than double DB growth

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 pension plans mark sad milestone

Corporate pension plans mark sad milestone

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.

After rough 2013, active managers might get a break

After rough 2013, active managers might get a break

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.

Publicly traded money managers benefit from strong equity markets

Publicly traded money managers benefit from strong equity markets

Booming fourth-quarter equity returns boosted assets under management of the largest publicly traded money managers.

DB plan assets in alternatives growing slower

DB plan assets in alternatives growing slower

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.

O'Hanley's departure from Fidelity described as inevitable

O'Hanley's departure from Fidelity described as inevitable

Ronald O'Hanley's pending departure from Fidelity Investments, while seeming to come from nowhere, was inevitable, a number of industry sources said.

Healthy growth of hedge fund assets continuing among DB plans

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.

San Diego County hit by performance blip

San Diego County hit by performance blip

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.

2013 drop portends transition management shift

2013 drop portends transition management shift

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.

Smaller endowments outgain big brothers

Smaller endowments outgain big brothers

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.

Harkin's universal retirement plan called a good start despite some hurdles

Harkin's universal retirement plan called a good start despite some hurdles

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.

Emerging markets dealing punch to the gut for some managers

Emerging markets dealing punch to the gut for some managers

A period of extended underperformance in emerging markets has started to hit some money managers where it hurts: their assets under management.

Managers eye cross-border possibilities in Asia

Managers eye cross-border possibilities in Asia

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.

El-Erian's exit yet another blow to PIMCO

El-Erian's exit yet another blow to PIMCO

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.

Surge in shareholder activism straining investors' resources

Surge in shareholder activism straining investors' resources

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 clock another nice gain

Target-date funds clock another nice gain

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 eyes little-used tool for plan insolvencies

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.

New highs Down Under

Australia's superannuation funds eclipsed A$1.6 trillion (US$1.4 trillion) in the fiscal year ended June 30, 2013.

Special Report

P&I's Top 1,000 Largest Retirement Plans

P&I's Top 1,000 Largest Retirement Plans

Top 1,000 retirement funds surpass $8.3 trillion mark.

Online

Frontlines

Editorial

Better way to elect directors

Better way to elect directors

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.

Letters to the Editor

People Moves