Table of Contents

Issue Date: Monday, June 23, 2014

News

Hermes prepared for new try in U.S.

Hermes prepared for new try in U.S.

Saker Nusseibeh, the man at the helm of Hermes Fund Managers Ltd., is preparing to take another crack at the U.S. money management market.

Threat of rising rates shifts all eyes to yield

Threat of rising rates shifts all eyes to yield

Asset owners — anticipating rising interest rates — are broadening their view of what they want fixed-income allocations to do.

Your next investment fund neighbor could be a crowd

Your next investment fund neighbor could be a crowd

Institutional investors might find within a year that their real estate funds are co-investing alongside crowdfunding capital.

Which alternatives? Well, that depends

Which alternatives? Well, that depends

Alternatives to traditional fixed-income allocations take different shapes based on the different roles fixed-income investments play in asset owners' investment portfolios.

Dust-up in the desert

Dust-up in the desert

Staff and board members of the underfunded $7.9 billion Arizona Public Safety Personnel Retirement System, Phoenix, continue to deal with fallout from questions about real estate valuations and legal matters involving former staff members who questioned those valuations.

GPIF ready to make big investment move

GPIF ready to make big investment move

The world's largest pension fund could begin bulking up on riskier assets later this year, even as many other big asset owners struggle to find pockets of value in capital markets buoyed by quantitative easing.

Unconstrained bond strategies not for the button-down types

Unconstrained bond strategies not for the button-down types

For some asset owners, getting more yield out of fixed income means letting go.

DOL fee-disclosure guide upsetting DC record keepers

DOL fee-disclosure guide upsetting DC record keepers

Members of the defined contribution industry have had three months to try to digest a Department of Labor proposed rule on fee disclosure, and many of them are choking on it.

Labor Department proposal all about location

The Department of Labor has proposed that service providers create a guide for defined contribution plans to identify where fee-disclosure information is located.

U.K. surety bond deal gives new pension funding option

U.K. surety bond deal gives new pension funding option

A FTSE 100 company has become the first to make surety bonds part of the funding strategy for its defined benefit plan, a new option for corporate executives looking to make good on pension promises.

Harvard's sluggish performance counters Mendillo's optimism

Harvard's sluggish performance counters Mendillo's optimism

Jane Mendillo's decision to step down as president and CEO of Harvard Management Co. comes almost a year after Harvard University's endowment reported the lowest five-year annualized return among its Ivy League peers.

Heat is rising on financial firms' use of own strategies in their 401(k) plans

Heat is rising on financial firms' use of own strategies in their 401(k) plans

Financial services firms that want to use their own products and services for their defined contribution plans are facing a growing body of case law that so far is not going their way.

Hedge fund executives on the move

Founders of small firms find new life with larger brethren.

Managers, consultants see bright future for collective plans

Managers, consultants see bright future for collective plans

A provision expected in next year's U.K. pensions legislation could pave the way for collective defined contribution plans, which look and feel like defined benefit plans but are more employer-friendly and share risk among participants.

GW&K continues to spread its wings 6 years after getting new parent

GW&K continues to spread its wings 6 years after getting new parent

GW&K Investment Management has tripled its assets under management and more than quadrupled its institutional AUM in the almost six years since it left from under the wing of former parent company Bank of New York Mellon and became an affiliate of Affiliated Managers Group Inc.

Market changes show how ETP complexity can grow

Recent shifts in the leveraged loan market have once again spotlighted a constant for all exchange-traded products: complexity increases as the liquidity of the underlying assets decreases.

Transparency could guide SEC trading agenda

Transparency could guide SEC trading agenda

Increasing the transparency of prices and potential conflicts of interest in institutional trades in dark pools and automated trading systems will drive the SEC's policy agenda for the next several years and could offer investors leverage to better control trading costs.

SWFs gorging on alternatives, Invesco survey says

SWFs gorging on alternatives, Invesco survey says

A year of solid returns for global equities hasn't derailed a broad-based push by sovereign wealth funds into alternative strategies, according to Atlanta-based Invesco Ltd.'s second annual report on the industry.

PSPRS salaries rank high among all state workers

The two top officials of the $7.8 billion Arizona Public Safety Personnel Retirement System, Phoenix, are the first and third highest-paid employees among 38,884 state workers.

Hermes CEO: Participants are foremost in his mind

Saker Nusseibeh takes his responsibilities seriously — not only as CEO of Hermes Fund Managers, but as a representative of the money management industry.

Special Report

Alternatives to traditional fixed income

Asset owners — anticipating rising interest rates — are broadening their view of what they want fixed-income allocations to do.

Online

Frontlines

Editorial

Test of governance wills

Test of governance wills

There are good neighbors. Then there is Nabors Industries Inc.

Other Views

Is it time for public plans to embrace an LDI approach?

Is it time for public plans to embrace an LDI approach?

Over the better part of the past decade, corporate defined benefit plans have adopted liability-driven investing, while their public plan counterparts have largely ignored this investment approach.

Letters to the Editor

People Moves