Higher Military Outlays Are Boosting Defense Stocks—With More Upside Ahead, Say Strategists
In the US, members of both parties back a boost in Pentagon spending. The consensus is similar for military-related outlays in Japan and Europe.
Pensions
Maryland Retirement Agency Hires Deputy CIO
Thomas Kim has joined the $67.7 billion Maryland State Retirement and Pension System.
Crown Holdings to Transfer $740M in Pension Liabilities to MassMutual
The packing products supplier will offload liabilities for 12,000 plan participants.
New York State Common Makes Climate Deals With 5 Portfolio Companies
The agreements with five portfolio companies include energy transition reporting disclosures.
New York State Pension Earns 1.4% in Q1 of Fiscal 2024
The New York State Common Retirement Fund’s asset value remained unchanged at $267.7 billion due to $4.2 billion in payouts.
Equities Fuel Kentucky Teachers’ Pension’s 12.3% Fiscal 2024 Gains
The TRS’ annuity trust’s asset value grew to nearly $26 billion despite missing its benchmark by more than 150 basis points.
CDPQ Returns 4.2% in First Half of 2024
The returns raised the Canadian pension fund’s assets to C$452 billion, but its performance fell short of its benchmark’s 4.6% return.
Arkansas Public Employees’ Retirement System Returns 10.42% in Fiscal 2024
The assets of APERS grew to $11.479 billion.
PBGC Grants $31.6M to Newspaper Drivers Pension Plan
The Ohio-based Newspaper Drivers Local 473 Plan will receive funding under the Special Financial Assistance Program.
STRS Ohio Returns 10.53% in Fiscal 2024
The assets of the State Teachers Retirement System of Ohio grew to $95.3 billion.
Virginia Retirement System Returns 9.9% in Fiscal 2024
The assets of the pension fund rose to a record $113.9 billion.
Alecta Returns 7.7% in First Half of 2024
The assets of Sweden’s largest pension fund grew to $126 billion.
Study: Decline in DB Plans Widens Income Inequality Gap
NCPERS research found that increasing income inequality ‘degrades national economic growth.’
Japan’s GPIF Reclaims World’s Largest Pension Fund Title
The pension giant also released an annual survey evaluating the stewardship of its external asset managers.
CPPIB Ekes Out 1% Gain in Q1, Promotes Caitlin Gubbels to Head of Private Equity
Public and private assets helped the pension fund swing from a loss one year earlier to raise its asset value to $471.5 billion.