Catastrophe Bonds in Demand for Pensions
As pension funds are demanding greater investment in catastrophe bonds, Europe’s second-biggest insurer has revealed that its funds investing in catastrophic bonds may more than triple.
Newsmakers
Northern Trust Launches Enhanced Passport for Institutional Investors
Northern Trust has deployed Passport ‘web 2.0’ to improve user experience, allowing clients, including pension officers and investment fund managers, to customize their desktop for efficiency.
Illinois Attracts $3.7 Billion to Plug Pension Shortfall
Despite Illinois’ financial troubles, the state has received $6.1 billion in orders from a record 129 investors.
Japan's GPIF Calls on Gov't to Rein in Mounting Public Debt
Chairman Takahiro Mitani of the world's largest pension fund has warned Japan that it must resolve its debt problems before it reaches a crucial point in five to 10 years.
Aussie Superannuation Funds Set to Achieve Double-Digit Growth
Research shows that Australian superannuation funds gained ground in January as US share markets continued their strong run.
Consultants Respond to Worries Over Sovereign Debt and Inflation
Investment consultants respond to G20's concerns about overheating emerging markets and sovereign debt worries in advanced countries.
Moody's Criticizes Pension Reforms in Hungary
Ratings agency Moody's has weighed in against Hungary's renationalisation of its pension funds.
Illinois to Postpone $3.7 Billion Taxable Pension Bond Issue
In order to give investors time to weed through budget proposals coming from Governor Pat Quinn, Illinois will delay its $3.7 billion taxable bond issue.
Abu Dhabi SWF Buys Spanish Refiner Capsa for $5 Billion
International Petroleum Investment Co (Ipic), an Abu Dhabi sovereign wealth fund, will take ownership of Cepsa, the Spanish oil refining and distribution group.
Report Shows Climate Change Poses Up to 10% of Portfolio Risk Over Next 20 Years
A study by Mercer has shown that over the next two decades, trillions of dollars are at stake over climate change.
Illinois Leans on SWFs to Relieve Pension Debt
In an act of desperation, Illinois plans to raise money from sovereign wealth funds, big banks, and insurance companies to plug its widening pension hole.
Hewitt EnnisKnupp Denied Outsourced CIO Role at Ventura, California Pension
Following the departure of the CIO of the Ventura County Retirement Board in California, consultant firm EnnisKnupp bid to provide outsourced CIO services, yet the fund denied the proposal due to costs and perceived conflicts of interest.
Aussie Pension Merges With Westscheme to Form $40 Billion Superannuation Powerhouse
AustralianSuper's presence in Western Australia will be one of the largest in the state, as one in four West Australian workers will be members of the Fund, the scheme reported.
Following Pension Tension, Pittsburgh's Schemes Gain Value
With Pittsburgh's pension still less than 30% funded and up against a state takeover earlier this year, the City Council reported good news about the city's schemes, which gained ground in the last three months of 2010.
S&P Lowers NJ's Debt Rating to AA- on Pension Funding Concerns
Citing financial stresses of its large unfunded pension liabilities, the S&P has lowered its ratings on the state of New Jersey's general obligation debt.