UPS Hires Goldman Sachs Asset Management as OCIO for $43.4 Billion Pension Plans
The company's investment staff will join GSAM, following one of the largest OCIO mandates to date.
Pensions
Ohio Attorney General Calls for Removal of Two Teachers’ Pension Board Members
Attorney General Dave Yost accused the members of breaching their fiduciary duty to the fund.
Scott Chan Named CalSTRS’ New CIO
The fund’s deputy CIO will step up to replace the long-tenured Chris Ailman.
Wisconsin Pension Buys $160 Million in Bitcoin ETFs
The State of Wisconsin Investment Board purchased Grayscale and BlackRock Bitcoin ETFs.
US Corporate Pension Funding Mixed on Stock Declines
Record pension funding levels cooled slightly in April from a drop in asset values, but were partly saved by another uptick in discount rates.
Google Cloud Accidentally Deletes Australian Superannuation Fund’s Data
The $83 billion UniSuper saw its operations disrupted over the accident.
Ohio Governor Seeks Investigation into Teachers Retirement System
Aon, the pension fund’s investment consultant, abruptly dropped STRS as a client last month.
Bank of America, Goldman Sachs, Morgan Stanley Accused of Delaying on Clean Energy Financing Disclosure
NYC Comptroller seeks annual disclosure of each banks’ ratio of clean energy supply financing to fossil fuel energy supply financing.
Seventh-Day Adventist Regional Conference Retirement Plan Searching for a CIO
A candidate should have 10 years of experience and an investment credential, like a CFA charter.
Canadian Pensions Returned 2.5% in the First Quarter
Equity returns were strong, but the plans’ fixed income investments lagged.
Pension Fund-Backed M&A Deals Continue to Nosedive
Transactions in Q1 totaled just under $1.3 billion, a fraction of the $15.3 billion worth of deals during the year-ago quarter.
Nearly Half of the Largest US Pension Funds are More Than 100% Funded, Milliman Reports
Of the largest 100 corporate DB plans, none had a funded status less than 75%, according to Milliman’s annual corporate pension funding status.
NYC Pensions Negotiate Worker Safety Deals With Major Telecoms Companies
SBA Communications, American Tower, and Crown Castle have agreed to increase disclosures about tower site safety.
Chicago Teachers’ Pension Fund Adds $2.1 Billion to Illinois Economy in 2023
Analysis finds that each dollar the $12.1 billion pension fund paid out in pension benefits generated $1.40 in economic activity in the state.
CalSTRS to Hold Second Round CIO Interviews at the End of April
The fund expects to have a candidate named by July.