MassPRIM Board Aims to Slash $30 Million in Fees Via Direct HF Investing
The Massachusetts pension may soon directly invest in hedge funds instead of relying on a more costly funds-of-funds approach.
News
What Your Consultant Is Saying About…Egypt
As popular unrest and protests diffuse from Egypt and Tunisia to Jordan and Yemen, investment consultants remain calm, keeping a watchful eye on emerging markets while suggesting a long-term view.
Muni Board Investigating Greater Disclosure at Pension Funds
Motivated by the need for greater transparency in the municipal bond market, the Municipal Securities Rulemaking Board is looking into ways to broaden issuer disclosure of the standing of their pension plans.
Younger Workers Covered for First Time in Longevity Swap, JP Morgan Claims
The United Kingdom’s Pall Pension Fund has offloaded millions in longevity risk relating to younger and current employees – a first for any fund, hedge provider JP Morgan is claiming.
Out of Davos, Word That GIC to Hold Citi, UBS Stakes for Long-Term
Singapore's GIC, the biggest shareholder in Citigroup and UBS, plan to hold onto its stakes in the two banks for the long-term, executive director Tony Tan told reporters in the Swiss town of Davos.
Michigan Sues BofA's Countrywide Unit, Seeks $65 Million in Pension Losses
The attorney general alleges that despite its actions, Countrywide Financial Corporation continued to misinform investors that it maintained stringent mortgage loan underwriting standards that differentiated it from its competitors and other subprime lenders.
Pensions Seek to Reduce Equity and Bond Exposure, Favor Alts
According to two separate surveys of pensions, schemes both domestically and globally are intending to reduce their exposure to equities as well as fixed-income, planning greater allocations to alternatives.
Moody's Says Pension Holes May Hurt US State Ratings
Moody’s Investors Service has said in a report that pension obligations will continue to weigh on states’ credit ratings.
IMF Says Sovereign Wealth Funds Must Review Investment Objectives
A report issued by the International Monetary Fund (IMF) has argued that sovereign wealth funds should engage in regular macro-risk assessments, stressing the continued importance of these large pools of capital as stabilizers in international markets and major players in global regulatory reform.
AIMCo Snatches Aussie Timber
In one of the largest forestry estate transactions in Australia, Alberta Investment Management Corporation (AIMCo) has agreed to acquire, together with partner Australia New Zealand Forest Fund (ANZFF), the timberland assets of Great Southern Plantations (GSP) for a total purchase price of $417 million.
Northern Trust Shows US Institutional Investors Enjoyed Strong Returns in 2010
For the second consecutive year, Northern Trust announced that US institutional investment plan sponsors had positive investment performance.
State Street Says Institutional Investor Confidence Is Waning
The money manager's index, which uses 100 as a neutral reading, has found that investor confidence dropped 3.3 points to 100.9 in January from 104.2 in December.
CalPERS Treads Cautiously Into RE, Seeking $2 Billion Allocation
The California public pension's Chief Investment Officer Joe Dear has continued faith in property, with a goal of achieving steady, modest gains.
2010 Study of US Endowments Shows Average 11.9% Investment Return
Data gathered from 850 US colleges, universities and affiliated foundations participating in the 2010 NACUBO-Commonfund Study of Endowments has shown a sharp improvement in investment returns.
Report Urges Slower, More Stable Approach to Pension Funding
The consultant firm noted that the regulatory focus on plugging scheme deficits quickly is actually a hindrance.