UK Institutions Allot 28% of Portfolios to Alts
Alternatives are rising in popularity among scheme investors, according to new research by J.P. Morgan Asset Management.
News
Norway's Central Bank Sues Citigroup for Stock, Bond Losses
The lawsuit is the latest in a string of legal actions against Citigroup and other large US institutions from investors who lost money in the economic downturn.
Yale University's Endowment Climbs 8.9% in Fiscal 2010
The US’ second-largest university endowment reported today that its fund rose to $16.3 billion in the year to June, yet remains well below its 2007 peak valuation of $22.9 billion.
SEC Requires Placement Agents to Register by Oct. 1
As part of the Dodd-Frank bill, about 1,000 unregistered placement agents for institutional money managers will have to register with the Securities and Exchange Commission by October 1.
Korean Pension to Invest in US Real Estate
South Korea's National Pension Service has committed to invest $300 million in troubled North American real estate through Townsend Group, the latest sign that foreign investors are delving into US property in hopes of steady return and rebounding markets.
State Street Study Predicts More M&A Deals Among European Asset Managers
The firm has found that continued M&A activity has been driven by downward pressure on fees and more scrutiny on the value of returns.
NYC Pension Fires Breeden Capital Management
The Employee Retirement System board of trustees voted to terminate Greenwich, Connecticut-based Breeden Capital Management.
Research Reveals €1.9 Trillion European Pensions Gap
A new survey by Aviva, the UK’s second-biggest insurer, has found that the pensions gap in Europe is equivalent to 19% of the European Union’s 2010 GDP, providing evidence that unless individuals increase their saving for retirement the majority will face a seriously reduced standard of living.
SEC Delves Into High-Frequency Trading Restrictions
In a speech that comes just before the SEC's report on the "flash crash," the regulator's chairman provided an early indication of how her agency wants to construct a more scrutinized derivatives market.
DB Pension Deficits Have Worldwide Impact, Mercer Says
The consultancy group Mercer has revealed that accounting measures of the liabilities of defined benefit (DB) schemes in most developed economies have seen marked increases in liabilities due to declining corporate bond yields.
Fitch Ratings Says Managers Must Urge Active Management
Fitch Ratings has said European asset managers must restore investor interest in actively managed investment through greater transparency on their products, processes, and communication.
With Large Bid for Parking Authority, Pittsburgh Pension May Live Another Day
A $452 million bid for the city’s parking system, if approved by City Council, would allow Pittsburgh’s 25% funded pension to avoid the fate of being taken over by the state.
China's SWF Exudes Caution in Investing in Traditional Auto Industry
China's $300 billion sovereign wealth fund has stated it "has doubts" in investing in old line automakers and must instead invest in relatively conservative and stable industries "that will survive 50 years from now."
Towers Watson Study Shows LDI Gains Traction Among German Companies
Three-quarters of surveyed companies saw asset allocation to their liabilities as a 'major risk' for balance sheets.
In Effort to Restore Confidence, CalPERS Adds Risk Management Officer and Whistleblower Helpline
Following allegations of influence peddling at the nation's largest public pension fund, CalPERS has revamped its governance policies, and its latest reforms are designed to help better manage risk and restore accountability.