Table of Contents

Issue Date: Monday, May 14, 2018

News

California funds feel private equity shock

California funds feel private equity shock

A new transparency law and a seller's market for private equity investments are putting California public pension funds at a disadvantage.

DOL bulletin on ESG factor use puzzles investors

DOL bulletin on ESG factor use puzzles investors

The Labor Department's recent attempt at clarifying guidance on ESG investing has some industry stakeholders scratching their heads.

Tax reform could spell trouble for derisking

Tax reform could spell trouble for derisking

U.S. tax law changes could make LDI investing tougher by crimping issuance of long-duration corporate bonds.

Volatility's return, trade war taking toll on investments

Volatility’s return, trade war taking toll on investments

The threat of trade wars and rhetoric around protectionism have hit pension funds in the first quarter of 2018.

Australian funds extend management reach

Australian funds extend management reach

International Property Funds Management must prove itself, but alignment with its owners should speed the process, analysts say.

Big M&A deals pause while awaiting next wave

Big M&A deals pause while awaiting next wave

Money management has seen a number of transformative and bolt-on M&A deals, but sources think a catalyst is needed before more happen.

P&I staffers earn kudos for news coverage, design

P&I staffers earn kudos for news coverage, design

P&I's editorial team was recognized by the American Society of Business Publication Editors with six awards for news coverage.

Private equity firms seeing a lot to like with DC provider investments

Private equity firms seeing a lot to like with DC provider investments

Private equity investors are taking a shine to the retirement services industry.

Managers re-examining U.K. master trust market

Managers re-examining U.K. master trust market

New regulations are changing the DC landscape in the U.K., prompting money managers and others to take a new look at opportunities.

Raising the issue of asset owners as ETF sponsors

Raising the issue of asset owners as ETF sponsors

In the trend toward tactical or thematic exchange-traded funds, do institutional investors need to go wider and sponsor an ETF?

New Zealand Super bids to build Auckland light rail network

New Zealand Super bids to build Auckland light rail network

New Zealand Super, a member of Focusing Capital on the Long Term, seeks to do just that with a consortium to build and run a rail line.

Deadline nears for Excellence and Innovation nominations

Pensions & Investments and DCIIA are seeking entries for the Excellence and Innovation Awards program.

Union pension plans welcome DOL guidance

Union pension plans welcome DOL guidance

Some ESG investors feel like they are stuck in a game of pingpong on ESG guidance, building trades union pension fund officials welcome it.

FedEx to ship $6 billion of pension obligations to annuity with MetLife

FedEx to ship $6 billion of pension obligations to annuity with MetLife

FedEx signed an agreement to purchase a group annuity contract with MetLife to transfer about $6 billion in U.S. pension plan obligations.

Ontario provincial manager sees progress made, more work ahead

Ontario provincial manager sees progress made, more work ahead

Investment Management Corp. of Ontario is a different kind of manager startup.

Special Report

Multiasset managers

Multiasset managers

Faced with increased competition and a changing market environment, multiasset fund managers are working to differentiate themselves.

Top-performing money managers: Q1 2018

Top-performing money managers: Q1 2018

Small-cap strategies dominated the top 10 equity managers, while high-yield bonds led the list of top performers in fixed income for the year ended March 31.

Frontlines

Editorial

U.S. pension reform panel sorely needed

U.S. pension reform panel sorely needed

With so many workers failing to save enough — or anything — for retirement, it's time to re-examine the U.S. retirement system.

No special treatment for ESG investments

No special treatment for ESG investments

The Labor Department's recent bulletin reiterating its policy on ESG factors is a reminder that fiduciaries must weigh ESG-related investments as carefully as any other.

Other Views

Inclusion of high-fee funds not necessarily a breach of fiduciary duty

Inclusion of high-fee funds not necessarily a breach of fiduciary duty

Our findings call into question plaintiffs' claims that using higher fee funds in DC plans is necessarily against participants' interests.

Commentary: Determining a proper level of ESG portfolio integration

Commentary: Determining a proper level of ESG portfolio integration

The Labor Department is not outlawing ESG, but is telling fiduciaries not to be overzealous.

Determining a proper level of ESG portfolio integration

Determining a proper level of ESG portfolio integration

The Labor Department is not outlawing ESG, but is telling fiduciaries not to be overzealous.

People Moves