Norway's SWF Says Europe's Bond Market Promises a Strong Recovery
Betting on a rebound following the bailout of Greece in May, the Government Pension Fund Global has rekindled its interest in Greek, Spanish, Portuguese and Italian government debt.
Newsmakers
MassPRIM Withdraws $1.1 Billion From BlackRock Due to Poor Performance in Fixed-Income
The Massachusetts state pension fund is seeking to replace BlackRock Inc. because it "lacks confidence that the firm is adequately focused" on fixed-income markets.
Winners of aiCIO's Industry Innovation Awards for Asset Owners
aiCIO congratulates asset owners -- public and corporate pensions, endowments and foundations, and insurance general accounts -- that have successfully understood and acted upon material risks in today's markets, delivering long-term and consistent results to establish a solid foundation for future returns.
Morgan Stanley Said to Sell Stake to Singapore's SWF and Others
Morgan Stanley is selling its 34.3% stake in China International Capital Corp. to Kohlberg Kravis Roberts & Co., TPG Capital, Singapore’s Great Eastern Holdings Ltd. and the nation’s sovereign-wealth fund.
Pittsburgh City Council President Proposes Another Plan in Desperate Attempt to Save Pension
Pittsburgh City Council President Darlene Harris has proposed another possible option to tackle the city's pension crisis -- -- taking out life insurance policies on those vested in the fund.
Report Suggests Norway's SWF Needs to Harness Its Size
According to a report by an independent council, Norway's 3 trillion kroner ($494 billion) Government Pension Fund-Global should take better advantage of its size, lack of liabilities, and long investment horizon.
Ireland Seeks Cash From Pension Fund for EU's €85 Billion Bailout
Ireland's National Pension Reserve Fund, which holds roughly €24.5 billion in assets, may contribute up to €10 billion to cover the cost of the bailout package from the European Union and International Monetary Fund.
Steve Rattner and Andrew Cuomo Continue Face-Off
The co-founder of New York-based Quadrangle Group Steven Rattner has said Attorney General Andrew Cuomo's lawsuit in a pension-fund kickback case is “close to extortion.”
PIMCO Seeks Troubled Assets From Banks
One of the world's largest asset managers is seeking at least $1 billion for a private fund to buy troubled loans from banks.
NYC Pensions Probe Banks for Foreclosure Info
New York City Comptroller John C. Liu, on behalf of the trustees of the New York City Pension Funds, is calling on directors at Bank of America Corporation, Wells Fargo & Company, JPMorgan Chase & Co., and Citigroup Inc. to conduct an independent audit of their banks’ mortgage and foreclosure practices.
Kuwait's SWF Considers GM Stake; Future Fund Calls for EU Stability
The Gulf country's sovereign wealth fund is expected to purchase a stake in General Motors after it issues its IPO later today; Australian Future Fund Chairman David Murray seeks EU stability.
PBGC Reports Widening Deficit in Fiscal 2010
The Pension Benefit Guaranty Corp., which insures the pensions of one in seven Americans, revealed that its annual deficit increased 4.5% to $23 billion.
CalPERS First to License Ermitage HF Software; Abandons 'Name-and-Shame' Listing
The California Public Employees' Retirement System (CalPERS) has bought the rights to license proprietary portfolio management software from Jersey-based Ermitage, and has revealed it will cease releasing its annual Focus List of underperforming stocks.
Singapore Fund Invests $106 Million in Petrobas, China Construction Bank
According to a regulatory filing, Singapore state investor Temasek Holdings invested about $106 million in Brazil's Petrobras during the last quarter.
CalPERS to Commit $500 Million to Environmentally-Friendly Companies
The country’s largest public pension fund has said it will pour $500 million into 'green' companies, focusing on “top performers that have improved share value and also done good for the environment.”