Pension Holiday “Seemed Like a Good Idea at the Time”
A representative of Illinois’ speaker of the house—who voted for the funding break—says lack of reform on Wall Street is blame for the current shortfall.
Newsmakers
It’s Miller Time for Amundi
The French asset manager has stolen Blackstone’s head of UK institutional business.
CalPERS Cashes in Carlyle Stake
After holding a 4% stake in the alternative asset manager for 12 years, the pension giant is taking its profits.
Money for Nothing (and Fund Losses for Free)
How much are YOU paying your fund manager to underperform?
Wellcome Trust Appoints Former Hedge Fund Manager
Former head of Perry Capital London office joins the global charitable powerhouse.
Utility Rejects Second OMERS, USS, KIO Advance
Infrastructure is appealing, but investors have to be prepared to pay.
“A Difficult Year for ABP”
Europe’s largest pure-play pension, admits pensioners have been hit the hardest hit in 2013—and they could be again next year.
Fed to Plunder Public Pension to Manage Debt Ceiling. Again.
The Fed is forced to tap the large cash pool once again to avoid breaching its limits.
Japan Pension Ponders Nikkei-Boosting Game-Changer
Rumours of Japan's public pension fund - a pool of more than $1 trillion - is considering allowing investment in domestic stocks to grow with a rallying market.
South Korean Pension Lowers Return Target
The engines are not firing as they used to in South Korea – and it’s hurting the pension assets.
Eurozone Remains Sluggish as Global Economy Starts to Recover
OECD advanced economies’ GDP projected to rise by 1.2% in 2013, and non-OECD countries will rise by 5.5%.
DC: Not as Bad as We Might Think
Overall contributions average 10% across UK’s FTSE100 companies and most charge less than 0.5% in fees.
Abu Dhabi Moves Further from External Fund Managers…
Why employ a fund manager when you can make a multi-billion investment yourself?
…As Alaska Gears Up to Go It Alone
A little more risk; a little more leverage; and a bunch more internal staff.
Why Does Nobody Want China’s Top SWF Job?
Shanghai vice-mayor Tu Guangshao, widely tipped for the job, is apparently getting cold feet.