Sweden's AP1 Pension Sues BNY Mellon for $35.5 Million Loss
The pension is reportedly suing the firm for losses from an investment by the asset manager that went sour during the global financial crisis.
News
Commonfund Ceases Direct Real Estate Investing
Commonfund will discontinue direct real estate investments as it is aiming to restructure a losing $1 billion fund.
Reality Check: Trustees Unable to Devote Adequate Time to Investment Decisions, UK Survey Says
A survey by one of the country’s biggest pension advisory firms has revealed that time-pressured trustees are unable to spend sufficient time on investment decisions.
Canada's Biggest Pensions Team Up, Committing $3.4 Billion to British Rail Link
In the same week that the Canadian government blocked the hostile takeover bid for Potash Corporation by the Anglo-Australian mining group BHP Billiton, two of Canada's largest pension funds have won a 30-year deal to operate a rail route linking the Channel Tunnel with central London.
Pittsburgh Pension Forecast Even Worse Than Expected Under State Control
Yesterday afternoon, the City Council heard from state officials about what a state takeover of city pensions could mean to taxpayers -- the process would result in steeply higher annual pension payments, beginning in 2013.
Norway SWF to Invest More Heavily in Real Estate
Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London in March 2010.
In Surprise Move, Canada Blocks BHP's Potash Bid
BHP has 30 days to appeal and convince the federal government that its offer is of “net benefit” to the country, at which point the government will make a final decision.
Report Shows Small University Endowments Outperform
Preliminary data from 80 colleges and universities gathered for the NACUBO-Commonfund Study of Endowments to be released in January shows that broad gains in the stock market last year helped college asset pools earn their first positive investment return in three years, with the smallest endowments performing better than the largest ones.
China SWF Pushes Obama to Invest in Infrastructure; Lou Jiwei Warns of Slowing Economic Growth
China's sovereign wealth fund -- the China Investment Corporation (CIC) -- has urged the US to invest in infrastructure to boost American competitiveness and create jobs; Lou Jiwei, chairman of the CIC, warns that China's economic growth may face a slowdown as its population ages.
Oregon Sues Bear Stearns for $17 Million Over Losses
The state of Oregon is suing former financial giant Bear Stearns,
alleging the company issued misleading information about securities.
Photo Gallery: CIOS UK 2010
See photos of aiCIO's successful October Chief
Investment Officer Summit in London. Designed specifically for the key
decisionmakers at the world's largest asset owners, the event featured
an array of panelists -- including Jay Vivian, former managing director
of IBM Retirement Funds, and Mark Gibbens, Chief Investment Officer of
Alcatel-Lucent -- as well as keynote speaker Nassim Taleb.
CalSTRS Seeks Risk-Based Allocation Approach, Lower Return Forecast
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.
Goldman Plans Takeover of Troubled UK Pensions Insurer Paternoster
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.
Greenwich Associates Report Says Many HFs Lag Behind High-Water Marks
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.
Northern Trust Universe Reveals Positive News for US Institutional Investors
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.