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
    • WPS 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
    • ESG Sustainability - Gaining Momentum
    • 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 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. Online
July 16, 1997 01:00 AM

Reed Elsevier Inc., New York, started an asset allocation study for...

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

    Reed Elsevier Inc., New York, started an asset allocation study for its approximately $200 million pension fund, said Vera Lang, treasurer.

    It will look at adding managers and changing allocations, although a particular target is still under study.

    Independence Investment Associates is the fund's sole manager. It runs a balanced portfolio, now allocated 55% equities and 45% fixed income.

    The fund hired Ennis Knupp as a consultant to assist in the study, which could be completed in a couple of months.

    Vermont Municipal Employees' Retirement System's new consultant, Hewitt Associates, will review its asset allocation this fall, said Michael Smith, a spokesman for State Treasurer James H. Douglas, Montpelier. As of March 31, the $101 million system had 47.7% of its assets in domestic equities vs. a target of 48.3%, and 4.8% in foreign equities, against a 6.3% target. Other allocations and targets are: 27.2% in domestic bonds vs. 28.3%; 8.8% in non-U.S. bonds vs. 6.3%; 0.9% in in-state investments, vs. 4% target; and 4% in real estate against 7%; and 6.7% in cash.

    Institutional Investor has agreed to be purchased by Euromoney Publications in a deal worth $142 million. Padraic Fallon, chairman of Euromoney, said the deal is expected to close by about Sept. 1, pending an extraordinary shareholder meeting. The 73% shareholder of Euromoney - Associated Newspapers Holdings Ltd. - has already agreed to vote in favor of the deal, Mr. Fallon said.

    The deal will be financed with a $150 million medium-term bank facility.provided by HSBC Group at an interest rate of LIBOR plus 0.5%, according to a statement.

    The current owner of Institutional Investor is ABC Inc., which is owned by Walt Disney Co.

    SEARCHES & HIRINGS

    Fairfax County (Va.) Police Officers Retirement System picked Lazard Freres, Rowe Price-Fleming International and Capital Guardian as finalists in a search for an international equity manager, said Don A. McCorry, retirement administrator. Trustees will make their pick at the Aug. 13 board meeting, he said. The system already has 8.5% of its approximately $452 million assets in international stocks with WorldInvest.

    The fund's target for international stocks is 10%. It is unclear how much money will be run by the new manager and WorldInvest after the search.

    Teacher Retirement System of Texas, Austin, named Northern Trust as domestic and global custodian. Northern had been the $59 billion system's global custodian; Bank of New York had been domestic custodian. The selection centralizes the system's custodial activities with Northern Trust, which will provide securities lending, foreign exchange and cash management services as well as custodial and performance-related services effective Sept. 1.

    Firstar Investment Research and Management, Milwaukee, hired Hansberger Global Investors to subadvise its $55 million Portico International Equity Fund, said Mary Ellen Stanek, president. Hansberger replaces State Street Global Advisors, Ms. Stanek said. The change is pending shareholder approval, with a vote set for early August.

    Equitable Life Distributors, Newport Beach, Calif., hired Putnam Investments and MFS for its new multimanager variable annuity fund. Putnam will begin managing between $2.5 and $5 million in seed money in large-cap value, core growth equity and international equity portfolios. Equitable also will seed the MFS Research Fund and MFS Emerging Growth Companies Fund with similar amounts, said Jamie Shepherdson, managing director of Equitable Distributors. The company probably will be adding more managers in the fourth quarter, he said.

    Security Benefit Life Insurance introduced a new flexible variable annuity, Variflex Signature, which offers 14 diversified investment options. Security Benefit and its subsidiaries manage 10 options. T. Rowe Price manages two options - an equity income and a managed asset allocation account. Meridian will provide investment research for a specialized asset allocation account, managed by Security Management. Lexington runs a global equity option and a global aggressive bond option.

    WHO'S NEWS

    George A. Long, president since 1996 and CIO of Oppenheimer Capital for the past 10 years, has been named chairman and CEO of the money management firm. Mr. Long, who continues as CIO, succeeds Joseph M. La Motta, CEO for the past 15 years, who has been named chairman emeritus.

    Susan Manske was promoted to be Ameritech's director of risk management, a new position at the $16 billion pension fund, industry sources said. Ms. Manske previously was director of capital markets for the fund. Additional information was not available

    Recommended for You
    Happy Fourth of July greeting
    No P&I Daily for Independence Day holiday
    Juneteenth_1550_i.jpg
    No P&I Daily on Juneteenth
    No P&I Daily on Memorial Day
    No P&I Daily on Memorial Day
    ESG: Sustainability - Gaining Momentum
    Sponsored Content: ESG: Sustainability - Gaining Momentum

    Reader Poll

    June 6, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Nearing the finish line: Ideas on end-state investing for corporate DB plans
    The Meaning of "Portfolio Intelligence"
    Credit Indices: Closing the Fixed Income Evolutionary Gap
    Forever in Style: Benchmarking with the Morningstar® Broad Style Indexes℠
    Crossroads: Politics, Inflation, & Bonds
    Is there a mid-cap gap in your DC plan?
    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
    July 4, 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
      • WPS 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
      • ESG Sustainability - Gaining Momentum
      • 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 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit