Japanese Pension Giant Returns 2.81% in Q3 2021
The world’s largest pension fund earned over $47 billion for the quarter to raise its asset value to nearly $1.73 trillion.
Newsmakers
Private Equity Drove CalPERS’ Strong Q4 2021 Returns
The pension fund reported 1.2% returns over its benchmark for calendar year 2021.
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Quincy Pension Loses $3.5 Million After Cyberattack
A growing number of pensions are becoming targets of cybercrime.
Wall Street Tonic: Russia Claims It Is Withdrawing Some Military Units
The prospect of de-escalation from the Ukraine border, as yet unproven, buoys stocks.
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.
Risk Aversion Strategy Causes Colorado Pension to Lose Out on Millions
Lawmakers required the fund to keep cash in a low-interest bank account to avoid risk.
New York Common Returns 4.74% in Q3
This quarter’s returns were significantly better than the last one’s.
Rhode Island Pension Fund Hits Record but Misses Benchmark in 2021
Its investment portfolio value nears $10.8 billion after a 17.27% annualized return net of fees as the fund boosts its private equity allocation.
UK’s Biggest Pension Fund Facing Lawsuit, Potential Strikes Over Benefit Cuts
The plan is increasing contributions while cutting benefits despite significant investment returns last year.
AstraZeneca to End Its US Corporate Pension Plan
Terminating the $1.3 billion plan is significant because the pharmaceutical industry is one of the few strongholds for DB plans, according to a Willis Towers Watson report.
Why Sometimes Ya Just Can’t Trust Payroll Estimates
Economist Gary Shilling shows how Wall Street projections and the actual official report can be way off.
Notre Dame, USC Endowments Return 53.2%, 43.2% for 2021
Robust returns raise the asset values for Notre Dame and USC’s endowments to $20.3 billion and $8 billion, respectively.
Portent? Facebook Parent’s Stock Takes a Beating After Earnings Miss
Other Big Five members also dip, axing their reversal from the January descent.
City of San Diego Will Retroactively Replace Thousands of Employees’ DC Plans With Pensions
The payments will mark an end to a nine-year legal battle.