Reports Highlight Public Pension Problem: High Assumed Rates
Two reports prepared for the Florida pension system – commonly thought to be relatively well funded – detail the effects of a 7.75% assumed rate of return.
Newsmakers
'Fair' Fees?
From aiCIO Magazine: A report out of London, released in February by London-based consultant Lane Clark & Peacock (LCP), is claiming that active fund managers are receiving more credit than deserved as markets rebound.
aiCIO's Joe Flood on Radio: Mayor Bloomberg's Battle Over NYC Pensions
Joe Flood, editor-at-large of aiCIO Magazine, appeared on The Brian Lehrer Show today to speak about aiCIO Magazine's exclusive cover story on New York City Mayor Michael Bloomberg's attempts to overhaul the city's underfunded pension system.
PIMCO's El-Erian: Japan Will Recover
"The good health of Japan is central to a robust global economy that generates lots of jobs and enhances productivity," writes PIMCO's El-Erian
Exec Comment Costs Blackstone $150 Million Alternative Investment Contract
Private equity group Blackstone has lost out on a $150 million alternative investment contract after executive Byron Wien commented last year that government retirement benefits are "too generous."
What Your Consultant Is Saying About…Japan
As investors grapple with the impact of Japan's quake, consultants assess the resulting pitfalls and areas of opportunity.
For Securities Lending and Custody, Is Decoupling Gaining Momentum?
With a Deutsche Bank mandate to execute unbundled securities lending for the Employees Retirement System of Texas, further proof that the age of unbundling may be emerging.
SDCERA's Partridge: Roles Not Confused, California Plans Should Share Resources
Lee Partridge speaks with aiCIO following the release of internal emails from the San Diego County Employees Retirement Association that portray confusion at the plan; he also believes that county and city plans within the state should share investment resources under a cooperative structure to achieve greater efficiencies.
CalPERS May Lower Investment Target, Raising Rates
CalPERS actuaries are recommending a decrease in the investment earnings forecast used to discount pension obligations in the future.
Pension Giant: Let’s Form Global Infrastructure Investment Alliance
Building off existing, if informal, cooperation with other Canadian funds, OMERS, the Ontario pension worth $53 billion, has suggested that a global alliance of infrastructure investors would help pensions further build up their portfolios.
SDCERA Internal Emails Paint Picture of Confusion and Turmoil Over CIO Role
While internal emails from the San Diego County Employees Retirement Association portray tension at the plan, the public pension maintains that the fund's recent returns are a testimony to the fact that its model is working.
KKR Lends Influential Name to Private Equity Best Practice Guidelines
Global alternative asset manager KKR has said it endorses a set of guidelines on private equity best practices issued by the not-for-profit Institutional Limited Partners Association.
BNY Mellon Survey Shows Funded Status of US Pensions Rises to 88%
According to monthly statistics published by BNY Mellon Asset Management, US corporate pension plans in February continued to prosper from the global stock market rally, as the funded status of the typical corporate plan rose 0.4 percentage points to 88%.
Can New York City’s Most Celebrated Citizen Revolutionize Its Pension System? Mayor Michael Bloomberg Will Soon Find Out.
That Mayor Michael Bloomberg of New York City is attempting to renegotiate public sector benefits is well known. That he is also trying to overhaul the management of the pension’s existing capital is less well covered. An aiCIO Magazine exclusive look at how one of America’s most prominent citizens is tackling one of its most difficult problems. Joe Flood, Paula Vasan, and Kip McDaniel report.
South Korea's National Pension Service Joins Consortium to Buy Brazil Miner Stake
Posco, the world’s third-biggest steelmaker, and South Korea’s National Pension Service, will buy a combined 15% stake in a Brazilian niobium producer with a group of Japanese companies.