Table of Contents

Issue Date: Monday, March 4, 2019

News

States consider asset transfers as way to shore up plan funding

PENSION FUNDS

PENSION FUNDS

Some states are considering transferring assets to their pension funds in order to help shore up funding issues
Exchanges, investors face off over SEC transaction fee pilot

REGULATION

REGULATION

An SEC pilot program about exchange transaction fees is under a legal challenge, but pension funds and other asset owners vow to press on.
FAANGs show real muscle in building up DC assets

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

Tech stocks — the fabulous FAANGs — are building their defined contribution assets.
Gears shifting over missing participants

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

Defined contribution plan sponsors are up in arms as they clamor for guidance on how to deal with missing participants.
More funds testing water on crypto-related assets

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Institutional investors have begun taking bets on fledgling funds, which invest heavily in cryptocurrency and blockchain-related companies.
ChinaAMC rewiring business to pursue new opportunities

MONEY MANAGEMENT

MONEY MANAGEMENT

ChinaAMC CEO said the firm is taking a fresh look at the services it offers through the prism of a 20- to 30-year retirement investment span.
MSCI indexes prepare for a huge influx of China A shares
MSCI will increase China A large-cap and midcap securities to 20% from 5% of their respective free float-adjusted market capitalizations.
Despite a lot of talking, no action being taken

LEGISLATION

LEGISLATION

Lifetime income will likely be included in a retirement reform package this congressional session, but stakeholders disagree on a key provision.
More plans want a place at co-investment table

PRIVATE EQUITY

PRIVATE EQUITY

Asset owners are clamoring for private equity co-investments in hopes the investments will lower costs and increase their control.
Risk-parity investors do a bit of second-guessing

INVESTING

INVESTING

Some asset owners are questioning the efficacy of risk-parity strategies.
European funds, managers move out of record keeping

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

Record keepers across Europe are shedding their defined contribution units as the business model gets more complex.
Fee battles heat up, while SEC pilot finds few friends

ETFS

ETFS

As expense ratios hit zero, ETFs turn to competing on the costs of trading and liquidity.
New Connecticut treasurer wants to maximize pension fund returns, minimize risk

Pension Funds

Pension Funds

Connecticut's new treasurer wants to work with the investment advisory council and governor to maximize the state's pension fund returns.
Labor Secretary Alexander Acosta's is being investigated over whether as a federal prosecutor he violated the law during plea negotiations.
American Benefits Council tracking states' efforts on worker benefits

RETIREMENT PLANS

RETIREMENT PLANS

The American Benefits Council launched the State Law Project in response to increasing activity by states and localities on employee benefits issues.
Vanguard getting nice boost from FAANG funds

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

The growth in the defined contribution assets of the nation's largest tech companies has been a boon for Vanguard's target-date business.
Risk-parity strategies difficult to benchmark

Investing

Investing

Benchmarking risk-parity strategies is difficult because of the wide range of investments routinely included in portfolios.
Sponsors complain about lack of guidance from DOL

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

DC plan sponsors say they need more clarity when it comes to who should pay for the cost of finding missing participants.

Special Report

Lifetime income
Lifetime income proposals spur a lot of debate, but no solution is being offered so far.

Frontlines

Editorial

Stock buybacks must not be strangled

EDITORIAL

EDITORIAL

Stock buybacks are on a tear. But they're not without controversy.

Tradewatch