Despite internally acknowledging that some of their CDOs were “crap” and “vomit,” UBS still sold such instruments to unwitting investors—and now are being sued for doing so.
The poor, landlocked country’s willingness to set up a long-term investment vehicle for resource profits lends credence to the idea that the SWF model has taken hold worldwide.
Connecticut State Treasurer Denise Nappier reportedly is considering a large investment in the government-backed program to purchase distressed debt, possibly signaling a larger trend for American pension funds.
While talk of fiduciary management has been on the rise, a new survey by consultant bfinance shows that pension plans are unlikely to use plan outsourcing anytime soon.
Asian pension funds (including Australia) gained 19% in the past five years, according to a study by Watson Wyatt; North American funds, on the other hand, returned just 4%.
British final salary schemes with surpluses increased their funding status in August, according to new figures; the same, however, cannot be said for underfunded plans.
In further evidence of the resurgence in resources and the willingness of SWF to partner with western investors, British bank Barclays is in talks with the South Korean Natural Resources Fund about joint investments in Africa, Asia, and Latin America.
With the Colorado Fire & Police Pension Association dropping the strategy due to poor performance, the decline of portable alpha is no longer anecdotal—it’s a trend.
Ambachtsheer, the Director of the University of Toronto’s Rotman International Centre for Pension Management, has been talking about pension governance for years. It will come as no surprise, then, that ai5000 sought out the man who, if anyone can be, is the conscience of the pension world.
Norway’s sovereign wealth fund has cleaned out at the executive level, but others—despite similar losses in 2008—are staying the course on investment management teams.
While some continue to refute that human action is causing global climate change, institutions—sensing a trend—gradually are allocating funds to green investing.
Often focusing more on infrastructure—dams, roads, railways—the Canadian Pension Plan (CPP) has joined forces with venture capitalists to buy Internet communications company Skype, possibly signaling a move toward riskier assets for Canada’s large defined benefit plans.
Private equity, the traditional bastion of institutional investors, is struggling with poor returns and regulatory troubles as REITs continue to grow.
Although small fish itself, the regulator’s initiative to move existing final-salary scheme members into a defined contribution plan signals the end of an era – and may in fact encourage others to do the same.