A study by Northern Trust of approximately 97 institutional managers shows expectation of rising inflation and interest rates, as well as increased skepticism about the prospects for emerging markets.
The largest US phone company has announced via an SEC filing that it has changed its method of recognizing actuarial gains and losses for pension and other post retirement benefits.
State Comptroller Thomas P. DiNapoli, trustee of the
$132.8 billion state and local employee retirement fund, asserted that
the New York State Common Retirement Fund was misled about the extent of
Merrill Lynch’s participation in the subprime mortgage mess.
As part of its multi-asset allocation within the Wisconsin Retirement System (WRS), the State of Wisconsin Investment Board (SWIB) has allocated $600 million to two risk parity strategy managers.
A majority of claims, dating from early 2009, against the Royal Bank of Scotland have been dismissed by a US judge on the precedent that investors cannot use federal courts to raise fraud claims over the purchase of foreign securities.
Tim Thonis, pension administrator of the Ventura County Retirement Board in California, resigned unexpectedly, and while speculators blame years of failed promises over pay raises, he cites governance as the reason.
The survey by the Insurance Asset Outsourcing Exchange has suggested that insurance companies should provide a better description of investment needs up front in the RFP, among other recommendations, and created a list of best practices.
The bank has formed a deal with Paternoster, acquiring all of the
shares in the pension insurer to nearly double Goldman's $4.7 billion
insurance business in the UK.
According to the latest figures from the Pension Protection Fund (PPF), the UK's 6,560 final-salary schemes in the private sector have moved to a surplus, following positive news on pension funding ratios in the US.
While Florida lawmakers are resolute on revamping the state and municipal pension system, union members from the AFL-CIO labeled allegations that Florida's public employee retirement plans are underfunded and provide lavish benefits as "myths."
As part of the Stichting Investor Claims against Fortis Foundation, institutional investors have launched a claim accusing Fortis of making misrepresentations to the market and to its shareholders.
The prominent former public official, who was in charge of
the New York City public school system for eight years, rails against pension
accounting assumptions in a Monday opinion piece.
The group said the new approach aims to allow for better risk-adjusted returns relative to liabilities to ensure that better results are delivered for members.
A group of seven major public pension schemes are being led by New York City Comptroller John Liu to press the largest US banks to better examine their mortgage and foreclosure practices.
