The $132 billion pension fund’s governing board will discuss implementing a radical new asset allocation that will divvy up the scheme's assets based on their characteristics - like sensitivity to inflation, stable return, or growth - rather than equity or debt.
Paternoster, set up in 2006 to buy up defined benefit pension schemes from companies seeking to offload their risk, is expected to complete a takeover deal within the next couple of months.
A recent study by Greenwich Associates shows that almost half of managers said one or more of their hedge funds was below the asset peak it must return to before performance fees can be charged, as of the first quarter.
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.