Towers Watson: Insurers Gear Up for Aggressive Investments
A survey from consultancy Towers Watson has shown that insurance companies are prepared to take more risks in investing, fueled by pressure from low interest rates.
News
Mass Laborers’ Pension Fund Joins Growing List of News Corp Plaintiffs
The Massachusetts Laborers’ Pension and Annuity Funds has sued Rupert Murdoch and other News Corp directors over lack of oversight and a breach of fiduciary trust, adding to a growing list of investor lawsuits hitting News Corp in the midst of the phone hacking scandal.
Maryland State Retirement System’s Former Actuary Liable for $73 Million
The Court of Appeals of Maryland has ruled that Milliman, Maryland State Retirement and Pension System’s actuary from 1982 to 2006, is liable for damages of approximately $73 million for faulty actuarial valuations that left the state’s plans underfunded.
Ontario Teachers’ Pension Plan Makes Deal to Increase Airport Holdings
The Ontario Teachers’ Pension Plan has made an agreement with Australian Airport owner MAp Airports in which the two parties will swap holdings in three different international airports.
Hedge Fund Assets Surge Past $2 Trillion
As investors continue to allocate new capital to hedge funds despite volatile markets, new data from Hedge Fund Research -- which tracks asset flows and performance figures -- has shown that global hedge-fund assets rose to a record $2.04 trillion by the end of the second quarter.
State Street to Eliminate 850 Jobs in IT Restructuring Effort
In the face of rising expenses, State Street is planning to eliminate 850 jobs as it restructures its information technology operations.
Proposal for $10 Billion Indian Sovereign Wealth Fund Meets Headwind
The Reserve Bank of India has objected to a plan to create India’s first sovereign wealth fund by carving out billions from the country’s foreign exchange reserves.
NYC Pensions May Sell, Consolidate Private Equity Holdings
New York City’s five pension plans are considering a move to consolidate their investments in private equity by unloading a $2 billion portfolio of buyout funds.
South Korea SWF Aims to Boost Alternatives Allocation
Korea Investment Corp. CEO Choi Chong-suk said the sovereign wealth fund must take advantage of favorable market conditions to increase strategic and alternative investments.
Six Infrastructure Funds Close as Positive Investment Outlook Continues, Study Says
Six infrastructure funds totaling $2.8 billion closed during the second quarter, according to a Preqin study; indications suggest that an increasing number of funds will be closing during the end of 2011 and into 2012.
NHS Urges Local Authorities to Divest From Tobacco Funds
Doctors have claimed that councils in England are profiting from deaths through smoking by investing tens of millions of pounds of their pensions in tobacco firms.
Report: Greater Interest Among Private Equity Funds in Latin America
Research released by the Emerging Markets Private Equity Association (EMPEA) reveals that the rapidly changing regulatory environment within Latin America is enabling greater institutional investment in private equity.
Survey: Institutional Managers Have Higher Aversion to Risk
Amid negative economic news, institutional investment managers surveyed by Northern Trust solidified a trend toward risk aversion in the second quarter of 2011.
UK Pension Plans Express Increasing Concern Over Longevity
A growing number of UK pension plans have expressed concern over the increasing longevity of plan members, according to MetLife’s Pension Risk Behaviour Index Study.
APG Head: Regulations Are Preventing Domestic Management of Dutch Pension Assets
The chairman of Dutch pension fund manager Algemene Pensioen Group wants to lessen regulations that have prevented the firm from reclaiming Dutch pension assets whose management has fallen into foreign hands, the Financial Times has reported.