Outsourced CIOs with expertise in complex tax situations have an edge for attracting new clients, according to Cerulli Associates.
The world’s largest endowment also bought 1 million shares of Amazon, despite cutting back sharply on Alphabet, Meta and Microsoft.
The two firms had previously partnered to offer outsourced CIO services to German occupational pensions.
The funding ratio of U.S. defined benefit multiemployer plans reached 100% at the end of June, according to Milliman.
Andrew Fraser intends to retire at the superannuation fund’s annual member meeting on November 20, at which point a successor will be named.
The funded status of corporate plans increased for the fourth consecutive month, primarily due to a decline in the value of liabilities.
The U.S. and U.K. will continue to be the center of the $1 trillion pension risk transfer boom, according to Legal & General.