As volatility in institutional plan performance has nearly doubled over the past two years, US pension plans, endowments and foundations in the Northern Trust universe have rebounded from the median 4.7% loss three months earlier.
Four former San Diego officials have agreed to pay financial penalties to settle SEC charges accusing them of misleading municipal bond investors about the city’s fiscal problems.
Glas Securities has said that Ireland's National Pensions Reserve Fund (NPRF), created in 2001 to pay for future pension liabilities, should consider using its state pension fund to hedge against the impact of a planned budget squeeze.
A study by Northern Trust has shown that firms with less than $3.6 billion under management gained 0.67% per year in their active large cap US equity portfolios for the five-year period, a higher return than larger firms or the S&P 500 Index, which was down –0.80% per year over the same period.
Mohamed El-Erian, CEO of the Pacific Investment Management Co. (PIMCo), who popularized the phrase "new normal" to describe how growth will be depressed by consumer retrenchment and tighter financial regulation, says the Fed's purchase of Treasuries will lead to faster global inflation while failing to revive US economic growth.
Warren Buffett has named 39-year-old Todd Combs, a small hedge fund manager, to oversee a portion of Berkshire's roughly $53 billion equity portfolio.
Pittsburgh's major told the City Council that its plan will not succeed in rescuing the city's struggling pension funds.
According to a Bank of New York Mellon survey, companies around the world are looking to attract hedge fund and sovereign wealth fund investment.
The oldest and richest college in the US has released its annual report saying that following the financial crisis that left endowments around the country struggling to run their campuses, it has boosted its holdings of cash, US Treasuries, and other easy-to-sell assets.
The $14.4 billion endowment of Princeton University is planning to terminate 50% of its private equity managers, reducing its investments in leveraged buyouts.
With only 24 of 73 pensions with assets over $1 billion currently considered funded, it's clear that serious issues need to be tackled, the report by Loop Capital Markets notes.
New Jersey State Investment Council is planning to boost its alternatives target to 38%, while the state's pension fund for teachers and government workers is negotiating reductions in fees and expenses for private investment managers.
New York-based Ivy Asset Management, Beacon Associates Management, J.P. Jeanneret Associates, Andover Associates Management and their principals have been sued by the Department of Labor for allegedly failing to examine swindler Bernard Madoff’s business practices and consequently losing millions in pension money.
The trade and algorithm blamed for sparking the Flash Crash in the report by the SEC and CFTC was not executed by “mutual fund complex” Waddell & Reed but their executing broker, Barclay's Capital. The report's contention that the algorithm was simplistic and did not take price changes into full account may also be untrue. aiCIO's Joe Flood reports.
US private equity firm Blackstone has won a $300 million commitment to its latest buyout fund from New York State’s pension system.