NYC Actuary Recommends Lowered Return Rate for Pensions
Robert North, New York’s chief actuary, is recommending that the city’s schemes lower its assumed annual rate of return on assets to 7% from 8%.
Newsmakers
BNY Mellon Working Toward Settlement as Part of Federal Forex Suit
The world's largest custody bank is close to finalizing parts of a lawsuit filed by federal prosecutors over misrepresenting currency trades.
New Findings Question Value of Harvard, Other CIOs
Little if any research has been conducted on the value of chief investment officers -- measuring performance relative to their paychecks -- until now.
Bridgewater Aids Tool to Uncover 'Hidden Beta'
Bridgewater Associates’ flagship fund serves as guinea pig for new ‘hidden beta’ hunting tool by research and technology firm.
Steer Joins BNY Mellon After Year-Long Term at Russell
Cynthia Steer, FX specialist and veteran consultant, joins fund house.
Longevity Swap Market Still Constrained, Despite Growing Number of Deals
The lack of an established market to trade longevity risk may stymie the current flurry of deals to derisk pension schemes through swapping out this liability.
US Economy to Grow by Up to 2.5%, BlackRock Predicts
Bob Doll, Chief Equity Strategist for Fundamental Equities at BlackRock, predicts a "slow growth" world, with Europe slipping into a recession while US stocks achieve double-digit gains.
Mercer Approaches ‘Fund Manager’ Status
Mercer’s investment management focus intensifies as consulting takes a back seat in management shake-up.
Bank of England Brings in New Actuary for King’s Pension
Bank of England has appointed Punter Southall as actuary to its DB pension scheme, ousting Towers Watson.
GSAM Chairman Forecasts 2012
Unlike last year's bullish predictions, Goldman Sachs Asset Management chairman Jim O’Neill has outlined a slightly less optimistic array of predictions for 2012.
Investors Flock to US Securities, Shunning Eurozone and BRICS in 2011
US bonds were favoured while Eurozone, BRIC, and US equities were avoided by institutional investors in 2011 as economic conditions spooked markets.
Investors to Pursue Clean Tech Private Equity Despite Challenges, Paper Says
A newly released article explains that institutional investors are seeking to better understand and invest more heavily in clean tech private equity.
New York Comptroller Clamps Down on Penalties for Corrupt Officials
Thomas DiNapoli, New York's comptroller, is introducing a program bill that would double the penalty for public officials found guilty of corruption.
Shell Launches DC-Only UK Pension Option For Future Hires
Shell, which offers one of the remaining open DB schemes on the FTSE100, seems set to close it to new joiners, citing falling in line with ‘market trends’.
Mercer: Pension Deficits Up by Nearly a Third in 2011
Mercer’s latest Pensions Risk Survey data shows that the accounting deficit of defined benefit (DB) pension schemes in the UK is on the rise.