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. Print
May 15, 2006 01:00 AM

CalPERS to consider 11 for international equity pool

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

    SACRAMENTO, Calif. — CalPERS staff recommended seven active developed market equity managers and four active emerging market equity managers for two new pre-approved lists of managers from which officials at the $210 billion system can select.

    Staff of the $210 billion California Public Employees' Retirement System, Sacramento, recommended the following developed market managers: AXA Rosenberg Investment Management; Batterymarch Financial Management; Fidelity Management Trust; Goldman Sachs Asset Management; PanAgora Asset Management; State Street Global Advisors; and Boston Co. Recommended active emerging markets managers were Batterymarch, Lazard Asset Management, Pictet Asset Management; and Robeco Institutional Asset Management.

    AXA Rosenberg already manages a $1.1 billion active European equity portfolio for CalPERS, and Robeco manages a $513 million developed market stock portfolio for the system.

    If approved at the May 15 investment committee meeting, staff will be able to fund the portfolios at its discretion. No amounts are provided, and there are no plans to change CalPERS' 20% target allocation to international stocks. Funding for the developed market portfolios would come primarily from a $13.7 billion passively managed equity portfolio run by SSgA or from existing active international managers. Funding for new emerging market portfolios would come from cash flows or from existing emerging market managers.

    In addition, staff recommended renewing the contracts for all four of the fund's high-yield bond managers for one year: Nomura Asset Management: $486 million; PIMCO, $461 million; ING Ghent Asset Management, $313 million; and Highland Capital Management, $219 million in a distressed bank loan portfolio.

    Wilshire Associates consulted on both the international equity and high-yield bond reviews.

    3 former LaBranche specialists censured, barred from NYSE

    NEW YORK — Eugene C. McCarthy, Vincent Papandrea and Anthony Picerni, all former specialists for LaBranche & Co., were censured and permanently barred on May 9 from the New York Stock Exchange for failing to cooperate in the exchange's investigation of illegal trading by specialists from 1999 through June 2003, according to Scott Peterson, spokesman for NYSE Regulation. The three agreed to the actions without admitting or denying the charges.

    The ongoing investigation is focused on allegations that several LaBranche specialists stepped in between customer orders that should have been paired off and also traded ahead of customer orders. In March 2004, the firm settled with the NYSE by paying a $63.5 million fine, without admitting or denying the charges.

    "These three individuals chose expulsion from the industry rather than face further questioning. The actions taken against them exemplify the importance we place upon protecting the integrity of the marketplace by requiring full cooperation in investigations," Susan Light, vice president of enforcement at NYSE Regulation, said in a news release. "NYSE Regulation is continuing to pursue those specialists and clerks who abused the public's trust and disadvantaged customer orders."

    Mellon Financial restructures asset servicing business

    PITTSBURGH — Mellon Financial Corp. restructured its asset servicing business so all services provided are under one roof, according to James P. Palermo, vice chairman, who will oversee the entire Mellon Global Securities Services division. "The way we've been structured is that I had responsibilities for some capabilities and Jack Klinck had responsibilities for others," Mr. Palermo said in a telephone interview. "We want to bring those capabilities together." Mr. Klinck, also a vice chairman, will become COO of the division, a new position.

    "This (restructuring) is more external and about our ability to build more and more capability in the most productive fashion for our clients," Mr. Palermo said. "This is not a cost-cutting exercise."

    Mellon's asset servicing products include custody, foreign exchange services, securities lending, cash management, performance measurement and analytics and back office administration support.

    Atlantis co-founder dies in boating accident

    LONDON — Peter Irving, co-founder of Atlantis Investment Management, died in a boating accident May 5, according to spokeswoman Gay Collins. Mr. Irving was 49.

    Mr. Irving, chief executive officer of the Asian equities specialist, which has $3 billion in assets under management, also ran the $130 million Atlantis Korean Smaller Companies Fund. Prior to launching Atlantis in 1994, he worked at Schroder Investment Management, Ms. Collins said.

    Gerard Morrison was appointed chief executive officer and will remain chief financial officer. James Cameron will be fund adviser, the lead portfolio manager to the Korean fund.

    Mr. Irving was survived by his wife, Fliss, and five children. A memorial service will be held at 3:30 p.m. English time May 18 at Holy Trinity Church, Cuckfield, England. The family has requested that donations be made in lieu of flowers to the East Meets West Foundation, a charity devoted to improving health care for children in Vietnam.

    Mr. Irving's family did not release additional information about the accident, Ms. Collins said.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    Alternatives: Investing Across the Spectrum
    Sponsored Content: Alternatives: Investing Across the Spectrum

    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