Table of Contents

Issue Date: Monday, September 1, 2014

News

High court seen likely to take ERISA fidicuary-breach case

High court seen likely to take ERISA fidicuary-breach case

Chances have improved that the Supreme Court could rule on an ERISA fiduciary-breach case involving a dispute over how courts should interpret the law's statute of limitations on fiduciary-breach lawsuits, ERISA attorneys say.

OMERS infrastructure program writes new page in investing

OMERS infrastructure program writes new page in investing

When OMERS executives closed a $12.5 billion-plus infrastructure co-investment program in June, they raised money not only from large institutional investors, but also from money managers looking to expand their businesses into infrastructure. In this way the C$65 billion pension fund has managed to beat the money management industry at its own fundraising game.

BlackRock powers up a hedge fund unit

BlackRock powers up a hedge fund unit

BlackRock Inc., the world's largest money manager, is creating a hedge fund boutique within its vast investment management empire.

Insurer assets outsourced to managers jump 54% in 4 years

Insurer assets outsourced to managers jump 54% in 4 years

Insurance companies outsourced almost $2.8 trillion to the 50 largest money management firms managing non-affiliated insurance assets, a 54% increase from four years earlier, Pensions & Investments data show. More specifically, the top 10 firms managed $1.08 trillion in outsourced, non-affiliated general account insurance assets. That was up 30.1% from four years earlier.

ERISA at 40

ERISA at 40

While the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.

Sovereign wealth funds move outside for specialist investments

Sovereign wealth funds move outside for specialist investments

Growing allocations to alternatives and multiasset strategies have left the sovereign wealth funds and national pension plans that dominate Asia's institutional investor landscape relying more on external money managers to manage their portfolios.

Most emerging markets managers underperform

Most emerging markets managers underperform

Emerging markets are held up as the poster children for inefficiency and, it follows, as the perfect region for active managers to outperform benchmarks. But despite heightened volatility, uncertainty and wide return dispersion, the majority of money managers failed to outperform their benchmarks

Deutsche Asset entering rebuilding mode

Deutsche Asset entering rebuilding mode

Deutsche Asset & Wealth Management executives have been on a global recruiting spree as they seek to rebuild institutional assets and accommodate a growing demand among U.S. institutional clients for alternative investments and smart beta.

Questions over dark pools prompt changes in best execution

Questions over dark pools prompt changes in best execution

Recent investigations into dark pools and high-frequency trading are causing institutional investors to reconsider just what constitutes best execution — and how to measure it. And the pressure to convey that to asset owners is falling on money managers and investment consultants.

ERISA architect Nagle praised as intelligent, fair

ERISA architect Nagle praised as intelligent, fair

Robert E. Nagle, one of the architects of the Employee Retirement Income Security Act of 1974 who died Aug. 16, is remembered by colleagues as a good, kind, competent man whose knowledge and fairness in the employee benefits field was unmatched.

Germany's economy

The country's economy shrank 0.2% in the second quarter, and its central bank recently cited several challenges to growth.

Merged firm expects big payoff in 5 years

The company being created from the merger of Treasury Group Ltd. and Northern Lights Capital Group LLC will double its AUM within five years, its CEO predicts.

Illinois puts $1.1 billion to work right away

Teachers' Retirement System of the State of Illinois, Springfield, kicked off its 2015 fiscal year with investments and commitments totaling $1.1 billion and set the stage to tactically deploy at least another $1 billion with real estate and hedge fund managers.

Special Report

P&I/Towers Watson World MegaFunds: 2014

Assets of the world's largest 300 retirement funds increased 6.2% in 2013, the fifth straight year of growth, but at a slower pace than in 2012.

Managers of insurance assets

Pensions & Investments takes a look at the largest managers of non-affiliated insurance assets.

Online

Corrections

Frontlines

Editorial

Lessons learned from ERISA

Lessons learned from ERISA

ERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.