Table of Contents

Issue Date: Monday, June 9, 2014

News

The growing investment melting pot

The growing investment melting pot

The increasingly blurry lines between alternative investment classes — as well as between those investments and traditional stocks and bonds — have some managers predicting the term “alternative investments” will no longer exist.

Vanguard vaults past Fidelity in total DC assets

Vanguard vaults past Fidelity in total DC assets

Vanguard jumped past Fidelity to become the largest manager of U.S. defined contribution assets, a post Fidelity had held since 1998.

Shared-risk plan concept is gaining momentum

Shared-risk plan concept is gaining momentum

Officials in nearly every state are considering implementing shared-risk public pension plan designs that help mitigate funded status volatility and investment and longevity risks.

Academics tackle  high-frequency trading problem

Academics tackle high-frequency trading problem

Three academics have identified a market structure they contend would enhance liquidity and stability, overcoming detrimental impacts to investors of high-frequency trading.

Pension funds eye illiquid catastrophe bonds

Pension funds eye illiquid catastrophe bonds

Significant demand for insurance-linked securities, in particular catastrophe bonds, has driven down yields and taken some of the luster off the once-shining beacons of uncorrelated assets in a pension fund's investment portfolio. But all is not lost.

Investors may get more fee  info from GPs

Investors may get more fee info from GPs

Private equity general partners, spurred by a speech by the SEC's chief of compliance inspections, are reviewing fee practices they had not specifically disclosed to limited partners.

NZ Superannuation Fund stays level with strategic tilts

NZ Superannuation Fund stays level with strategic tilts

New Zealand Superannuation Fund's investment team is working to bring as much science as possible to the art of profiting when capital markets deviate from fair value.

Execs eagerly awaiting guidance from PBGC on liability issue

Execs eagerly awaiting guidance from PBGC on liability issue

PBGC guidance on how agency officials enforce pension liability rules cannot come soon enough for some pension plan sponsors and their advocates.

NEST exec mulls broader asset mix

NEST exec mulls broader asset mix

Mark Fawcett, the man at the helm of investment at what could becomethe U.K.'s biggest defined contribution plan, is looking closely at potential shifts in asset allocation - including expanding its roster of investments.

Future Fund takes unfettered approach

Future Fund takes unfettered approach

David Neal, chief investment officer of Australia's A$97.6 billion (US$90.6 billion) Future Fund, says his fund's absolute-return focus, unfettered by fixed strategic asset allocations or benchmark constraints, could help it clear a challenging return hurdle over the coming decade.

Turner Investments  assets plummet 74%

Turner Investments assets plummet 74%

Turner Investments LP, suffering from poor performance and client and staff defections, has lost 74% of its assets from its peak in 2010. But Stephen J. Negrotti, the Berwyn, Pa.-based money manager's new president and CEO, has a plan to pull the firm out of its tailspin.

Make sure investment team and board are in sync, Future Fund CIO says

Future Fund Chief Investment Officer David Neal has advice for any asset owners contemplating the kind of absolute-return-focused dynamic asset allocation strategy his fund is pursuing: If there’s too big an asymmetry in market knowledge and information between the investment team and the board of trustees, don’t even think about it.

NEST CIO wants fund to be ‘a catalyst for innovation’

The National Employment Savings Trust, London, should be “a catalyst for innovation” within the retirement plan industry, said Mark Fawcett, chief investment officer.

The year in CEO compensation

A wrapup of 2013 chief executive compensation at publicly traded U.S. corporations.

Special Report

The convergence of alternative investment strategies

Blending of asset classes rewrites rules, puts everything up for grabs.

Corrections

Frontlines

Editorial

States reaching out too far

States reaching out too far

The number of private-sector employees without pension coverage — about half — has become an issue of concern at the state and federal levels.

Other Views

Using tontines to solve public pension underfunding

Tontines are investment vehicles that could replace large pension plans, public or private, or those of smaller employers, and could be used to provide retirement income for participants.

Letters to the Editor

Tradewatch

People Moves