US Pension Funding Slips Further
The funding deficit of US defined benefit pension plans in the S&P 1500 has grown to $543 billion, representing an aggregate funding ratio of 74% as of June 30.
Newsmakers
BlackRock Expands Alternative Coverage With Swiss Re Purchase
As investors spurn traditional assets, BlackRock pushes further into alternatives.
UK Pension Liabilities Largest Ever Relative to Market Cap.
The pension liabilities of the FTSE 350 have reached 35% of their sponsoring companies’ combined market capitalization, the highest proportion ever.
Abu Dhabi, Dutch Pensions, SWFs 'Defrauded' Out of Millions on BNY Mellon FX Trades, Lawsuit Alleges
The US Department of Justice has brought a case against BNY Mellon alleging it cheated customers on foreign exchange services, leading to revenues of more than $1.5 billion from some of the largest institutional investors worldwide.
Record Investment Earnings – and Government Contributions – for US Public Pensions
The largest investors in the US have made some impressive investment returns, while the government is increasing its support to the system.
Spanish Bank Appoints Pensions Specialist Ahead of UK IPO
One of the largest Eurozone banks has brought a pension specialist on board as it waits out the region’s crisis before taking its UK arm public, aiCIO has learnt.
SEI Poll: Investment Outsourcing Among Corporate Pensions to Double
The use of a fiduciary manager by corporate pension plan sponsors may double over the next five years, according to a poll by SEI.
Illinois Pension Signals Lower Return Target
The executive director of the $37 billion Teachers’ Retirement System of the State of Illinois has hinted that the plan may lower its assumed rate of return.
CIO Summit London Round Up
They came, they saw, we talked portfolio construction, risk and investment.
‘Frontier Markets’ Offer Fat Returns With Great Risk
A new white paper from Silk Invest contends that the time is now to invest in “frontier markets” but with potentially high reward comes daunting risk.
CalPERS Makes Real Estate Play
CalPERS has bought a third of real estate investment advisor Bentall Kennedy for $100 million.
'Over time, our approach should reduce the equity risks we face.'
Sidebar to the cover story: How pension funds are defining their asset allocation as exposures or factors—and not buckets. Kip McDaniel reports.
'We call it a strategic relationship.'
Sidebar to the cover story: The new relationship between pension plans and private equity managers. Kip McDaniel reports.
'There is only naive market timing and intelligent market timing.'
Sidebar to the cover story: SBCERA and risk management systems. Kip McDaniel reports.
Returns Plummet for Foundations in FY2011
Foundations saw returns of -0.9% in the 2011 fiscal year, a significant tumble from prior years.