Table of Contents
Issue Date: Monday, September 1, 2014
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.
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 Inc., the world's largest money manager, is creating a hedge fund boutique within its vast investment management empire.
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.
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.
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.
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 & 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.
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.
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.
The country's economy shrank 0.2% in the second quarter, and its central bank recently cited several challenges to growth.
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.
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.
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.
Pensions & Investments takes a look at the largest managers of non-affiliated insurance assets.
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.