BT Agrees to Cut Its £9bn Pension Deficit
BT nearly tripled Q3 profit, but its pension deficit is the
biggest ever recorded by a
UK private company.
Newsmakers
Chairman Lou Jiwei Offers Glimpse Into China’s Sovereign Wealth Fund; Singapore’s Temasek to Create $4 Billion Investment Unit
CIC's Jiwei, a computer scientist-turned-economist, says the
SWF will let its own in-house portfolio managers lead investments in
developed markets. SWF Temasek will launch a new wholly owned
subsidiary.
ATP Seeks “All Weather Portfolio”; Separate Accounts Gain in Popularity; Pensions Tell Hedgies to Cut Fees
While Denmark's pension fund ATP will up its investment in hedge
funds, pension
funds are hoping to negotiate lower fees with reluctant fund managers
this year.
Pension Corp. to Finalize Capital Raising
The specialist insurer is close to completing 600 million pounds
($942 million) in
fundraising as it looks to profit from the growing desire of UK
companies to insure their pension liabilities.
Detroit's Big Three Automakers Face Growth in Unfunded Liabilities
As automakers' pension funds earn lower rates of
return, their funding needs escalate.
UK Fund Firm Hermes Extends Fees Clawback
The fund's decision is the first time such a
clawback system
has been proposed to all of Hermes’ funds.
MOSERS Achieves 18.5% Investment Return in 2009
The Missouri fund’s value has
strengthened since the economic collapse of 2008, with retirement fund
assets now at nearly $7 billion.
Venture Capital Returns Continue to Plummet
The 10-year return, the most frequently cited metric to gauge the
health of venture capital firms, declined 8.4% for the period ending
September 30, 2009.
Obama's 2011 Budget: Tax Increases for Hedge Fund and Private Equity
President Barack
Obama is proposing to have carried interest earned by hedge fund and
private
equity
fund managers taxed as ordinary income.
LACERA Terminates Mandates With Blackrock and Goldman
At its January 13 board meeting, the LA retirement association
dropped Blackrock and Goldman mandates because of lagging performance.
Canada Pension Fund's Takeover Report Shows Infrastructure Appeal
The
potential takeover of Northumbrian by its largest shareholder
illustrates the lure of infrastructure to
investors seeking long-term stable cashflows.
Davos: SWFs Turn More Activist; May Be Key Toward a Clean-Tech Future
While demands SWFs make as shareholders could help improve returns
for all parties, they could also reflect politically motivated
influence.
Private-Equity Rebound Boosts Insurance Funds
The gains of Chubb
Corp. and Travelers Cos. show alternative investments flourished
in the fourth
quarter.
CalSTRS Suffers From $42.6 Billion Funding Shortfall; CEO Jack Ehnes Heads to Davos
Following CalPERS controversy, another California fund
reports more bad news.
Hermes Private Equity Launches £125 Million Green Fund
The environmental fund is part of a British government scheme
to invest in technology-based firms with high growth potential.