Prudential to Sell Stake in Mexican Pension Manager to Bank
Prudential Financial has announced that it will sell its stake in Afore XXI S.A. de C.V., a private pension fund manager in Mexico, to Mexican bank Banorte.
Newsmakers
Global Regulators Scrutinize High-Frequency Trading
To more effectively monitor automated transactions, global regulators have published new guidelines.
PIMCO's El-Erian: Teamwork Suffers Amid US Turf Wars, Political Battles
CEO and co-CIO of Pacific Investment Management Co. (PIMCO) Mohamed El-Erian, asserts in a recent article that the state of the US economy reflects financial re-alignments, insufficient policy responses, and rigidities that frustrate structural change.
Pension Group Aims to Simplify Performance Measurement, Attribution, and Risk
A new guide published by the National Association of Pension Funds (NAPF) is aimed at helping trustees and pension fund managers understand performance measurement, attribution, and risk analysis.
San Diego County Pension Terminates “Whistleblower”
The San Diego County Employees Retirement Association has terminated the employment of Jeffrey Baker, who had accused the fund’s investment team of failing to inform the its investment committee that risk budgets had been breached.
Al Gore Urges Sovereign Wealth Funds to Take Longer-Term View
The former US presidential candidate Al Gore has urged sovereign wealth funds to view their investments from a more longer-term perspective.
In Latest Pension Scandal, Former Scheme Exec Directed Money to Spouse's Firm
The former HR head at SAG-Producers Pension and Health Plans, Craig Simmons -- who was fired in March and accused his boss of steering business to family members -- was involved in steering money to his spouse's marketing company.
SSgA: Asset Management Fees Up, AUM Down
Investment management fees at Street Global Advisors (SSgA) reached $229 million, up from $196 million from a year earlier, while assets under management dropped slightly.
Consultants: Pensions, While Hesitant, Likely to Increase Derivative Use
While schemes are still reluctant to use derivatives, pension funds are increasingly using these investment vehicles to hedge against interest-rate risk, consultants say.
CalPERS Emerges as Latest News Corp Shareholder to Withhold Support for Murdochs
The California Public Employees' Retirement System (CalPERS), the largest public pension in the US, is the latest News Corp shareholder to withhold support for Rupert Murdoch and his sons.
Census Bureau: Public Pension Assets Dropped Over $726B in 2009
Following a $176.7 billion loss in 2008, the US Census Bureau has shown that state and local public employee retirement systems had $2.5 trillion in total cash and investment holdings in 2009, a $726.1 billion or 22.7% decrease from $3.2 trillion in the previous year.
Pension Legislation Strengthens CalPERS CFO Position
New legislation signed by California Governor Jerry Brown -- which becomes law on January 1, 2012 -- has paved the way for CalPERS to strengthen its Chief Financial Officer position responsible for managing the financial processes for the pension fund, encouraging that transparency and internal controls are maintained.
Hermes' Nusseibeh: Investors Are Guilty of Fueling Dangerous Financial Complexity
Saker Nusseibeh, the head of investments of Hermes and chairman of the new 300 Club, tells aiCIO that institutional investors should avoid following the heard and instead question and scrutinize unnecessary complexity.
Alaska Permanent Fund Makes Headway in Tapping New CIO
The Alaska Permanent Fund Corporation is making progress in selecting a new chief investment officer to replace Jeffrey Scott, who departed from the fund in early August to join consulting firm Wurts and Associates.
Florida's SBA Chief Called to Discuss Investment
The head of Florida's pension fund is being called to discuss a $125 million investment in a public meeting.