MassPRIM Reports 9.1% Return in 2024, Assets Reach $109.7B
PRIM’s returns in 2024 were driven by a boom in equities.
Pensions
UK’s People Pension Creates In-House Adviser
The workplace master trust’s investment team has nearly doubled in a little more than a year.
Target Faces Another Lawsuit Related to ESG, DEI ‘Risks’
A police pension fund in Florida claims the company deceitfully hid the potential financial risks of celebrating Pride Month.
Canadian Pension Fund BCI Offers to Take Infrastructure Manager BBGI Private
The Luxembourg-based manager could be acquired for $1.31 billion.
Global Retirement Assets Reach $58.5T, Led by Defined Contribution Growth
The U.S. remains the biggest market, comprising 65% of AUM, according to the Thinking Ahead Institute.
Legal & General to Sell 20% Stake in PRT Business to Meiji Yasuda
In addition to the pension risk transfer stake, the Japanese insurer will acquire all of L&G’s U.S. protection business in a total $2.3 billion deal.
Mercer Super Appoints TelstraSuper’s Miller as CIO
Based in Melbourne, Graeme Miller will be the first dedicated CIO at $46.34 billion Mercer Super.
Tech Rally Buoys Norway Sovereign Wealth Fund’s 13% Return
Despite missing its benchmark, the gain raised the world’s largest pension fund’s asset value to almost $1.75 trillion.
Nest to Acquire 10% Stake in IFM Investors in Alts Buildout
The U.K. pension scheme aims to invest $6.24 billion through IFM by 2030.
GPIF External Managers Rank Microsoft, Enel Tops for Climate Disclosure
According to the $1.68 trillion Japanese pension giant, Microsoft “is undoubtedly a leader on climate reporting.”
Canadian Pension Funds Returned 10.6% in 2024
Institutional defined benefit plans returned 1.5% in the year’s fourth quarter, according to Northern Trust.
Proposed Kansas Bill Would Authorize KPERS Allocation to Bitcoin ETFs
Senate Bill No. 34 would permit the $27.3 billion Kansas Public Employees Retirement System to invest up to 10% of its portfolio in digital asset exchange-traded funds issued by a Kansas-registered company.
Sanofi, Legal & General Complete $1.74B Annuity Buy-In
The plan’s second transaction with L&G kicks off 2025, which could be another record year for pension risk transfer volume.
UK Explores Reforms Allowing Pensions to Invest Surplus Assets
The changes could unlock $200 billion that could be applied to different projects.
Australia’s Hostplus Names Deputy Co-CIO
The hospitality industry superannuation fund promoted Susan Orr from within.