CalPERS Creates Newest Exec Position With CFO Role
The California Public Employees’ Retirement System (CalPERS) has appointed Russell Fong as acting chief financial officer (CFO), effective April 4.
Newsmakers
South Korea and ADIA Form Strategic Partnership
South Korea and the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, have formed an alliance for joint investments.
Puerto Rican Governor Claims Pension Fix Seen Within 10 Years
America’s most poorly funded public pension will be “fixed” in eight to 10 years, according to Luis Fortuno.
NYC Comptroller Rolls Out Initiative to Heighten Transparency of Pensions
John C. Liu, New York City's comptroller, has announced plans to provide the public with unparalleled access to information about the city's pension schemes.
Soros: Europe Must Bailout Banks to Restore Confidence
To restore confidence in Europe, George Soros, the philanthropist billionaire and hedge fund legend, says that Europe's bailout fund, the European Financial Stability Facility (EFSF), must take care of the banking sector.
Despite Revisiting Timber Investment, SDCERA Claims No Conflict
SDCERA tells aiCIO that no conflict exists, yet fund CEO Brian White has admitted that a relationship between outsourced CIO Salient Partners and timber investor Molpus Woodlands Group should have been disclosed during the due diligence process.
Seeking to Buy Troubled Mortgages, PIMCO Raises $1.5 Billion
The manager of the world's largest mutual fund has raised more than $1.5 billion for a private pool to buy debt such as troubled commercial and residential mortgages from banks looking to improve their balance sheets.
Scott Kalb Thinks There's Folly in Benchmark Hugging
From aiCIO Magazine: New York City native Scott Kalb is the Chief Investment Officer of the Korea Investment Corporation (KIC), South Korea's government-owned investment management company.
Scott Sleyster Thinks Holistically
From aiCIO Magazine: Sleyster—chief investment officer for Prudential's American operations—speaks on the unique nature of investing in the insurance general account sphere.
Japanese Minister: Don't Rely on Pensions in Wake of Disaster
Japan's Economy Minister Kaoru Yosano said that the country should not resort to pensions to fund disaster relief efforts.
Is Bloomberg Right?
From aiCIO Magazine: An examination of New York City’s pension system – and how Mayor Michael Bloomberg’s recent criticism of various aspects of the plan may be warranted.
To Boutique, or Not to Boutique?
From aiCIO Magazine: With endowment investment outsourcing, that is the question.
The Power Broker
From aiCIO Magazine: Yeah, it was published 37 years ago, but we thought we'd take this chance to review Robert Caro's classic tome on the acquisition, maintenance, and corrupting ability of power anyway.
Open Up. It's the FBI.
From aiCIO Magazine: Between stepped-up enforcement and the host of new regulations promised by the new financial reform law, is it time for large asset owners to start rethinking the way they invest in alternatives?
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.