Alaska Permanent Fund Announces New CIO
Marcus Frampton will take over from Russell Read, who departed the $64.9 billion sovereign wealth fund in July.
Newsmakers
Tesla Comes Out on Top Despite SEC Suit, Musk’s Board Resignation
The SEC Twitter scandal looked like a nail in Tesla’s coffin, but a swift settlement surged shares and will see the automaker remain CEO at the expense of his chairman gig and a $40 million payment.
CalPERS to Review Whether International Stock Holdings Should Be Reduced
A decade ago, the largest US pension plan decided to abandon its home country bias favoring US stocks. Now, pension officials wonder if it was the right move as US stock performance has shined.
Russian Pension Reforms Pass in Final Duma Reading
Controversial measure, which increases the retirement age, now goes to parliament’s upper house.
State Treasurer Calls for Investigation into CalPERS CEO’s Hiring
Board approves 4% raise, $84,873 bonus, but controversy continues over Frost’s educational credentials.
State Duma Approves Putin’s Pension Proposals
Measure’s third and final lower house reading to be held today.
CalPERS New CIO Is a Seasoned Investor
Ben Meng’s predecessors did not have deep investment roots, instead administrative and political experience were their calling.
GPIF Chooses Two Indices for Its ESG Benchmark
CEO Takahashi hopes the picks will push companies ‘to work on carbon efficiency and disclosure’ practices.
Poultry Pain: NY Comptroller DiNapoli Warns McDonald’s Over Chicken Care
The fast food giant must improve its treatment of chickens, or the state pension fund will sell its $300 million in Golden Arches shares.
MP Pension Head Wants Danske Bank CEO Gone ASAP
Jens Munch Holst says resigning exec Borgen should not remain at bank until a new chief is found due to money-laundering scandal.
CalPERS Names Meng New CIO
Start date has not yet been determined.
CalPERS Gets a D for Fixed Income Management, But B For Overall Program
Consultant Wilshire Associates also gives overall CalPERS leadership a C grade.
Two Biggest Pennsylvania Public Pension Funds Underreported $3.8 Billion in PE Fees, Oxford Professor Says
State treasurer and lawmaker demand more transparency from debt-laden PSERS and SERS plans.
Supreme Court Hears Kentucky Pension Arguments
Justices grill governor’s top attorney over the legality of complex bill’s passing.
Bill Seeks to Bolster Women’s Retirement Savings
Legislation addresses financial disadvantages that disproportionately affect women.