CalPERS and Other Bondholders Say Lehman Bankruptcy Plan Fuels Conflict
A group of 12 creditors says Lehman Brothers Holdings Inc.’s plan to pay claims fosters conflicts among creditors that may lead to lawsuits.
Newsmakers
UK Report Urges Schemes to Invest Responsibly
Ten years after the UKSIF
introduced pensions disclosure regulation, the group is urging schemes
to increase their skills in sustainability governance.
G20 Leaders Pushed to Fight for Shareholder Rights
In letters to Canadian Prime Minister Stephen Harper and Chung
Un-Chan, prime minister of South Korea, the International
Corporate
Governance Network urged G20 leaders to recognize the intrinsic
role of institutional investors in reforming shareholder
rights.
Losses at Bahrain's SWF More Than Doubled Amid Global Slump
Bahraini state investment fund Mumtalakat said losses soared last
year as it restructured some of its holdings.
Texas Teachers Fund Reports Record Full-Year Return
The gain takes the fund's market value to $96.7 billion, erasing
most of the losses suffered during the financial crisis.
Managers at HF Conference in Monaco Grapple With Challenges Ahead
At the GAIM hedge fund
conference this week, managers focused on the problems that could hit
their firms rather than the past year's client inflows and 20% returns.
Two Money Management Firms End Use of Placement Agents With CalPERS
Following an
internal investigation by CalPERS, Ares Management and Relational
Investors have agreed to stop using so-called placement agents and
reduce the fees they charge the fund by millions of dollars over the
next five years.
SWFs Lose $5 Billion on BP Oil Spill; PIMCO's El-Erian on the 'New Normal'
Since the Gulf of Mexico oil spill started in April, pulling down BPs
share price, the governments of Norway, Kuwait, China and Singapore
have lost billions of dollars.
No Revenue Without Conviction
Directionless investors are conspiring with weak macro-economic conditions to unsettle a business model dependent not just on activity, but short selling, leverage and spreads, says Dominic Hobson, editor in chief of Global Custodian.
China’s Pension Head Offers Glimmers of Hope, Lifts Euro
The head of China's $114 billion national pension fund said Thursday
that the euro will survive the sovereign debt crisis.
BP Execs Assure Pensions That Firm Will Meet Obligations, Fail to Guarantee Dividends
BP's Chairman Carl-Henric Svanberg and Group Chief
Executive Tony Hayward issued a statement saying they will meet
obligations to institutional investors, including
pension
schemes, but are unable to guarantee dividend
payments.
RBS Nears $500 Million Sale of Private Equity Assets
Dutch fund of funds Alpinvest is
close to taking over Royal Bank of Scotland’s European private equity
fund portfolio.
MassPRIM's Travaglini to Quit Pension Fund
The executive director of the Massachusetts Pension Reserves
Investment Management Board (MassPRIM) is stepping down next month, a
treasury staffer said Monday.
The Pensions Trust to Review Investment Strategy With New CIO
David Adkins has been appointed as the trust's chief investment
officer.
CalPERS Delays $600 Million More From State
Citing a $19.1 billion budget deficit, the largest US public pension
delays taking hundreds of millions of dollars more from the state to
pay for employee retirement benefits next year.