CalPERS Equity Portfolio Edges Out S&P 500 Returns in Q4 2022
CalPERS’ equity portfolio returned 7.92% in the fourth quarter of 2022, eclipsing the S&P 500 performance by 84 basis points.
Newsmakers
Oklahoma Taking Names as It Seeks to Weed Out ESG Investors
State Treasurer Todd Russ is making a list of companies that break the state’s anti-ESG law.
Michigan Retirement System Sues Generac Over Solar Power Defect
Class action alleges company executives failed to disclose faulty solar component.
France Braces for Further Protests Over Retirement Age Increase
After Tuesday walk-outs, unions are calling for massive demonstrations this weekend.
NTAM Names BlackRock Exec as New President
Daniel Gamba replaces Shundrawn Thomas, who left last summer, at Northern Trust’s asset management arm.
New York State Teachers’ Posts Strong Q4 Equity Returns
The retirement system finished 2022 with its equity holding total at $40.69 billion, up from $38.46 billion the previous period.
Biden Backs Debt Ceiling Increase, Proposes Higher Tax on Buybacks
President pledges to protect Social Security and Medicare and asks Congress to 'finish the job' on many of his priorities.
Norway’s Pension Giant Adds Chinese, Indian Firms to Exclusion List
Pension fund accuses AviChina, Bharat Electronics of selling military equipment to Myanmar’s armed forces.
More Than 100 Investment Organizations Sign CFA’s Diversity Code
Top-flight entities, from CalPERS to Cambridge Associates, pledge to boost DEI and track their progress.
Peter Branner Hired to Assume CIO Role at Abrdn
Abrdn, the Scotland-based global investment company, has appointed Peter Branner as CIO, effective May 1.
LACERA Issues RFP for System’s Real Assets Emerging Manager Program
The $67.6 billion pension system is seeking a discretionary separate account manager to implement the Real Assets Emerging Manager Program.
Preparing an Internal Successor Requires ‘Looking to the Future’
A case study on internal CIO succession, with Carol Tusch replacing Bob Hunkeler at International Paper.
Bloomberg Settles SEC Charges of Misleading Pricing Disclosures
Firm pays $5 million fine related to its BVAL service’s fixed-income pricing.
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.