Latest News

Fed raises rates by 25 basis points, foresees another 3 rate hikes in 2018

Markets -

Markets -

A divided Federal Open Market Committee voted Wednesday to raise the federal funds rate by 25 basis points to a target range of 1.25% to 1.5%.
Ventura County puts 1 firm on watch, takes another off list

Investing -

Investing -

Ventura County (Calif.) Employees' Retirement Association put international equity manager Hexavest on watch over performance concerns.
Kroger officially withdraws from Teamsters Central States

Pension Funds -

Pension Funds -

Kroger and the International Brotherhood of Teamsters have ratified a new labor agreement to withdraw active Kroger participants from Teamsters Central States.
Appeals court hearing sets stage for California rulings on altering pension benefits

Courts -

Courts -

California appeals court members questioned lawyers on Tuesday over whether the lifetime pension benefits could be altered to instead provide "reasonable" benefits.

PEOPLE -

PEOPLE -

Purna Bhudia was named head of credit at the Pension Protection Fund.
Commentary: A simple solution to better retirement plans – Default to digital

Industry Voices -

Industry Voices -

Paper has served as the default communication method since the passage of ERISA. It's time to modernize and streamline participant communications.
Commentary: Seeking attractive, through-the-cycle returns in high-yield multicredit

Industry Voices -

Industry Voices -

Many investors retain a compartmentalized, single-asset mindset to high-yield investing, but there are benefits to a multicredit approach.

ASSET SERVICING -

ASSET SERVICING -

Edwin Chan was named manager of business development for Europe, the Middle East and Africa at Northern Trust.
Eastspring Investments to offer Sustainable Growth Advisers strategies to investors in Asia

MONEY MANAGEMENT -

MONEY MANAGEMENT -

Eastspring to offer Sustainable Growth Advisers’ global growth and U.S. growth equity strategies to institutional and retail investors in Asia.

HEDGE FUNDS -

HEDGE FUNDS -

Man Group taps Lazard executive for new institutional sales role in Asia.
Passport Capital to close flagship hedge fund at the end of the year

Hedge Funds -

Hedge Funds -

Passport Capital closing flagship hedge fund, returning investor capital.
Exxon Mobil agrees to disclose climate change risk on company

GOVERNANCE -

GOVERNANCE -

Exxon Mobil Corp. has agreed to evaluate and disclose the viability of its portfolio under the 2-degrees scenario.
Representatives introduce electronic disclosure bill for retirement plan information

Legislation -

Legislation -

Bipartisan legislation allowing for electronic disclosure of retirement plan information was introduced Monday.
Fitch: States' net pension liabilities rise in FY 2016; Illinois tops list

PENSION FUNDS -

PENSION FUNDS -

Illinois has the highest pension burden among all 50 states, while 46 states saw their net pension liabilities increase in fiscal year 2016.
PSCA members approve joining American Retirement Association

Pension Funds -

Pension Funds -

Members of the Plan Sponsor Council of America overwhelmingly agree to join the American Retirement Association.