Table of Contents

Issue Date: Monday, March 20, 2017

News

Snap IPO igniting furor; institutions not pleased

GOVERNANCE

GOVERNANCE

The absence of shareholder voting rights in Snap Inc.'s recent IPO has large institutional investors and asset managers gearing up for a battle they hope will prevent a war from erupting among future ...
Japan Post Bank starts turn to alts

ALTERNATIVES

ALTERNATIVES

Japan Post Bank will continue to shift trillions of yen from Japanese government bonds to offshore credit, but the Tokyo-based giant's next round of mandates might yield lower fees for money managers.
Passive investment train overtakes active in corporate DC plans

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

Passive investments pull ahead of active management for the first time since P&I began tracking data from the 100 biggest corporate defined contribution plans.
T. Rowe Price in midst of major growth plan

MONEY MANAGEMENT

MONEY MANAGEMENT

T. Rowe Price is building its defined contribution investment-only business and multiasset class capabilities in the U.S, while also looking to grow headcount in sales and client service.
Latest hacking news heightens cybersecurity concerns

ASSET SERVICING

ASSET SERVICING

Recent hacking attempts have third-party fund administrators on alert to secure the huge volume of investment and other data they hold for alternatives managers.
Holy Cross Hospital agrees to $9.1 million settlement in church-plan challenge
Holy Cross Hospital has agreed to pay $4 million to participants of a defined benefit plan being terminated to settle a lawsuit challenging its church-plan status and to distribute $5.1 million in...
PBGC girds for pending union plan catastrophe

DEFINED BENEFIT

DEFINED BENEFIT

Pension Benefit Guaranty Corp.'s dire financial condition has officials predicting painful cuts for more than 1 million multiemployer plan participants projected to need its help.
Looking for talent beyond the good ol' boys

GOVERNANCE

GOVERNANCE

Diversity on company boards, trustee boards and within the money management industry has become a focus for institutional investors, and money managers themselves, as the improved decision-making and ...
General partners putting money where investments are

ALTERNATIVES

ALTERNATIVES

Private equity firms are putting more money into their funds. The average GP commitment to vintage alternative investment funds in 2016 was 7.84%, up from 6.96% in 2015.

CONSULTANTS

CONSULTANTS

Mercer Investments is only one of several investment consulting firms restructuring its business or consolidating as the investment landscape evolves.

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Japan Post Insurance Co. Ltd. is a step behind its sister company a $700 billion investment portfolio still largely anchored on Japanese government bonds, but it's moving to catch up.
Mercer combines units to   meet clients' shifting need

CONSULTANTS

CONSULTANTS

Mercer Investments is reorganizing, as its clients become more focused on keeping plan participants out of poverty in retirement.
Market participants call small-cap tick pilot disappointing
So far, not so good. Early reviews of the Securities and Exchange Commission's small-cap equity tick-size pilot program have been generally negative in regard to its impact on trading costs and...
Investors told to challenge, adjust investment assumptions to meet needed outcomes
Institutional investors need to alter their thinking when it comes to investment management in the lower-for-longer interest rate and returns environment.
Digital producer joins team at P&I
Aftenthyn L. Person joined Pensions & Investments as digital producer.

Frontlines

Editorial

ERISA: DOL can't have it both ways

REGULATION/LEGISLATION

REGULATION/LEGISLATION

The Department of Labor's secure choice rule undermines ERISA protections for participants in those plans, which are aimed at the approximately 55 million private-sector employees without access to a ...
CEO needs some help with his homework

DEFINED BENEFIT

DEFINED BENEFIT

Chicago Public Schools CEO Forrest Claypool needs to do his homework and start reviewing the district's financial reports, so he can answer simple questions from taxpayers.

Other Views

Machine learning will transform investment management

MONEY MANAGEMENT

MONEY MANAGEMENT

Human involvement will still be critical for risk management and framework selection, but increasingly strategy innovation in money management will be automated.
Some simple principles every plan fiduciary should follow

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

Recently, plan sponsors have come under increased legal scrutiny as the threat of litigation has become more prevalent across the industry.

Letters to the Editor