CIC Rises, Dubai’s Istithmar Falls
All SWFs were not created equal, recent activity shows.
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With Interest Rates Low, Brazil Pensions Get Okay To Diversify
Brazilian pension funds will now be able to move out of their traditional government and corporate debt holdings and into other, more esoteric, investments.
As Regulators Step Up, Securities Lending Comes Under the Spotlight
Regulation is a certainty in many different niche financial markets, and so it was only a matter of time before the SEC turned its gaze toward securities lending, which saw seemingly risk-free practices turn risky in 2008.
As Custodians Search for Profits and the EU Regulates, Prices Rise
With higher-margin services on the decline, European custodians have started to raise basic rates, and the trend is expected to continue if proposed depository rules are enacted.
With SWF Transparency Calls Mounting, Some Quietly Protest
SWF transparency often is thought of as a universal positive. However, some within the asset management business are quite vocally starting to state otherwise
Knowing They Were Selling “Crap,” UBS under Siege in CDO Case
Despite internally acknowledging that some of their CDOs were “crap” and “vomit,” UBS still sold such instruments to unwitting investors—and now are being sued for doing so.
Following the SWF Trend, Mongolia Jumps in
The poor, landlocked country’s willingness to set up a long-term investment vehicle for resource profits lends credence to the idea that the SWF model has taken hold worldwide.
With Firms Chosen, PPIP Comes Knocking
Connecticut State Treasurer Denise Nappier reportedly is considering a large investment in the government-backed program to purchase distressed debt, possibly signaling a larger trend for American pension funds.
Despite Hype, Pension Management Outsourcing Not Popular
While talk of fiduciary management has been on the rise, a new survey by consultant bfinance shows that pension plans are unlikely to use plan outsourcing anytime soon.
To Entice Foreign Capital, China Relaxes Regulations
Although still miniscule in nature, the Chinese Qualified Foreign Investor (QFII) program will—if proposed regulation passes—raise limits, lower minimums, and reduce lockups for foreign institutions, a sign of encouragement for foreigners wishing to pour money into the country.
For World’s Pensions, Asia Sees Growth while America Falters
Asian pension funds (including Australia) gained 19% in the past five years, according to a study by Watson Wyatt; North American funds, on the other hand, returned just 4%.
In Britain, a Dichotomy in Pension Fund Investment Performance
British final salary schemes with surpluses increased their funding status in August, according to new figures; the same, however, cannot be said for underfunded plans.
Korea and Barclays, Sensing an Opening, Pounce on Resources
In further evidence of the resurgence in resources and the willingness of SWF to partner with western investors, British bank Barclays is in talks with the South Korean Natural Resources Fund about joint investments in Africa, Asia, and Latin America.
After Poor Returns, Portable Alpha Falls out of Favor
With the Colorado Fire & Police Pension Association dropping the strategy due to poor performance, the decline of portable alpha is no longer anecdotal—it’s a trend.
Keith Ambachtsheer, Conscience of the Pension World
Ambachtsheer, the Director of the University of Toronto’s Rotman International Centre for Pension Management, has been talking about pension governance for years. It will come as no surprise, then, that ai5000 sought out the man who, if anyone can be, is the conscience of the pension world.