Table of Contents
Issue Date: Monday, July 21, 2014
Former CalPERS CEO Federico R. Buenrostro's guilty plea earlier this month revealed new details and disclosures in the corruption scandal that engulfed the nation's largest defined benefit plan.
The $28 billion United Parcel Service Inc. defined benefit plan has taken smart beta to a new level, allocating 40% of the equity portfolio to the alternatives to market-capitalization indexes.
Institutional investors increasingly are translating co-investment experience in private equity, real estate, infrastructure and energy funds to their hedge fund portfolios.
Joshua Gotbaum's resignation as director of the Pension Benefit Guaranty Corp. is expected to create a leadership vacuum at a critical time for an agency dealing with struggling multiemployer pension plans and corporate defined benefit sponsors stressed about premium increases.
A growing number of business founders in Asia who traditionally restricted private equity firms to minority partner status have begun, selectively, to let them take controlling stakes in their companies.
It was only a matter of time before the litigation portfolios of U.S. public pension funds started catching up with their investment portfolios and spending more time overseas.
Emerging markets debt, pummeled during last year's “taper tantrum,” is now tempting institutional investors back into the fold.
Defined contribution plan executives are wrestling with ways to improve participants' savings through automatic escalation.
Institutional investors across the globe are becoming more aware of the environmental, social and governance effects both of, and on, their investment choices.
Hong Kong's Mandatory Provident Fund Scheme Authority is looking to push the envelope — gently — in devising the HK$519 billion (US$67 billion) defined contribution system's first standardized default investment option.
State pension funds in California and Illinois are among the recipients of Citigroup Inc.'s $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the financial crisis.
New rules, a revised menu of entry categories and a new venue mark the launch of the 2015 Eddy Awards.
Japan's •126.6 trillion ($1.25 trillion) Government Pension Investment Fund, Tokyo, in an annual report released July 4, provided a snapshot of leading asset gatherers in a year of extensive changes to the pension giant's external manager lineup.
Not long after Leighton Shantz joined the $26 billion Employees Retirement System of Texas, Austin, as director of fixed income in April 2012, his review of the nearly $6 billion bond portfolio called for a shift in strategy. Moving to a bifurcated mandate of “rates” and “credit,” however, would take some massaging of the existing core-plus fixed-income portfolio.
Policies vary when it comes to ESG, but some institutions are leading the way.
Push for 'outcome-oriented' solutions has firms looking harder to fill strategy gaps.
Institutional asset owners must make more of an effort to peel back the layers of complexity to deal with the fiduciary issues surrounding non-traded investments, including private equity and real estate.
Emerging market financial assets have been remarkably resilient; the question is why? The answer lies in the greatly underappreciated fact of emerging markets' domestic financial asset expansion.
There are no safe harbors at present in fixed-income investing.