Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Innovation Investing Conference
    • 2022 Defined Contribution East Conference
    • 2022 ESG Investing Conference
    • 2022 DC Investment Lineup Conference
    • 2022 Alternatives Investing Conference
Breadcrumb
  1. Home
  2. Online
May 08, 1997 01:00 AM

THOMAS & BETTS Corp., Memphis, Tenn., approved a new asset allocation...

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    THOMAS & BETTS Corp., Memphis, Tenn., approved a new asset allocation for its $175 million fund following an asset-liability study. The new asset mix is 32.5% domestic bonds, 5% real estate, 5% high-yield bonds, 40% U.S. equities, 12.5% developing markets equity and 5% emerging markets equities.

    Previously the fund had less specificic targets of 5% to 15% international equities, zero to 50% domestic fixed income, 40% to 55% domestic equity, zero to 4% real estate and zero to 2% cash.

    The board will decide in another month if new managers will be needed, said Ellen Shea, treasury analyst.

    THE ARLINGTON COUNTY Retirement System, Arlington, Va., today decided to cut its tolerance for downside risk to -10% a year in a bad market from about -15%, even though it could cost the fully funded system about 1.1% in real annual returns. System trustees will decide on a new asset allocation to implement the risk tolerance in subsequent meetings.

    The change was recommended by Ashford Capital Management, the fund's consultant. For the past five years, the fund has earned more than 11% a year. With the new risk tolerance level in place, the fund still hopes to earn about one percentage point more than its target 8% actuarial rate of return.

    Trustees of the system, with about $800 million in assets, also approved creating a core TAA portfolio with about 20% of fund assets. Trustees will decide how to fund the portfolio ar the June 5 meeting.

    PANAGORA ASSET Management dropped its equity allocation to zero in its tactical allocation model, the lowest level in its 12-year history, said Edgar E. Peters, direct asset allocation and chief financial strategist PanAgora managers $5 billion in TAA. Before the change, the model had an above-average allocation to equities, depending on client preferences. The change shifts the allocation to mainly bonds and a little cash. PanAgora is concerned over continued optimistic earnings forecast despite the Fed's recent restrictions to slow the economy and lower inflation.

    MORGAN STANLEY ASSET Management no longer is accepting new clients for its global emerging markets equities products. However, the firm said it would honor all RFPs for emerging markets assignments received by May 30, and current clients will be able to make additional investments. Emerging markets regional equity and debt offerings remain open.

    The moratorium is not permanent. The firm will revisit this issue at regular intervals, a statement said.

    WELLS FARGO Bank will expand its mutual fund families this year to fill all asset class niches, said Mike Neidermeyer, executive vice president. The first fund will be an internally managed, active international equity fund runby Kate Shapiro, who now manages international equity separate accounts. That fund will open in August. The company also is considering a domestic large-cap value equity fund and a high-yield bond fund, said Mr. Neidermeyer. Additional personnel will be hired to manage the new funds.

    THE MSCI WORLD Index climbed 3.1% in dollar terms vs. a 0.4% gain for the EAFE index in April. For the month, the MSCI Emerging Markets Free Index fell 0.2%.

    Among developed markets, the three top performers were the U.S., 6.4%; Spain, 5.7%; and Japan, 3.6%. Laggards were Malaysia -11.3%; Sweden, -8.5; and Singapore, -5.4%. Among emerging markets, China's domestic free market shot up 22.2% in dollar terms, while Sri Lanka rose 15.4%. The Philippines free index fell 17%.

    THE MEDIAN MANAGER in the Non-U.S. Equity Universe of InterSec Research posted a 0.5% return in the first quarter, beating the MSCI EAFE index by two percentage points. For the quarter, EAFE returned -1.5%. InterSec said Currency management, market allocation and stock selection all contributed to the good performance, InterSec reported.

    Recommended for You
    Good_Friday_i.jpg
    No P&I Daily on April 15
    Presidents Day illustration. Text with uncle Sam's hat and USA flag waving on blue star pattern background
    No P&I Daily on Presidents Day
    Coming_Soon_i.jpg
    P&I 1,000 coming out Feb. 14
    OCIO, Anchor in Rough Seas
    Sponsored Content: OCIO, Anchor in Rough Seas

    Reader Poll

    May 9, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Are Factors a Thing of the Past?
    Q2 2022 Credit Outlook: Carry On
    Leverage does not equal risk
    Is there a mid-cap gap in your DC plan?
    Out of the Shadows: The Revolution in Shadow Accounting
    The pivotal role of fixed income markets in the ESG revolution
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    May 9, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Innovation Investing Conference
      • 2022 Defined Contribution East Conference
      • 2022 ESG Investing Conference
      • 2022 DC Investment Lineup Conference
      • 2022 Alternatives Investing Conference