Verizon Announces $5.9B Pension Transfer
Insurers Prudential and RGA Reinsurance will assume obligations for 56,000 pensioners who are already receiving benefits.
Pensions
Korea’s National Pension Fund Rebounds With 13.6% Return in 2023, Grows to $780B
A strong performance from equities spurred a sharp turnaround from the previous year’s 8.2% loss.
ABP Plans $30B in Impact Investments by 2030
The Dutch pension fund wants to invest across themes like climate and social impact.
Eastman Kodak to Shift Pension Assets to NEPC
The company has shut down its internal investment office and made other plans based on the pension’s overfunded status.
Stagnant Returns Produce Lower Public Pension Funded Levels in January
Returns for the 100 largest U.S. public plans during the month ranged from a loss of 1% to a gain of slightly more than 1%, per Milliman.
Pension Assets in Largest Markets Climbed Almost 11% in 2023
AUM held by institutional asset owners reached $170 trillion last year, according to WTW’s Thinking Ahead Institute.
CalSTRS Reports Sustainability Progress
The system expects to reach full funding by 2046 and has taken steps on its path to net zero.
CDPQ Announces 7.2% Return in 2023
Assets of the Quebec pension investment manager grew to $321.72 billion.
NYC Comptroller: Major Banks Neglect Their Own Net Zero Goals
Three of the city’s pension funds filed shareholder proposals seeking greater fossil-fuel transparency at six of the largest banks in North America.
Puerto Rico Pension Reserve Trust Seeks Multi-Asset Strategy Managers
The underfunded pension fund appears to be shifting away from its fixed-income heavy portfolio.
Can the Canadian Model Be Improved?
A new study by PSP CIO Eduard van Gelderen, “On the Sustainability of the Canadian Model,” aims to find improvements to the investment model.
MassPRIM Adopts New Asset Allocation
The Bay State’s investment management board seeks to achieve a 7% annualized rate of return while accepting no greater than a 20% drawdown.
Ontario Teachers’ Seeks Greater Accountability, Transparency in 2024 Proxy Season
The $184 billion pension giant is asking its portfolio companies to improve their climate-change risk management.
CalPERS Prepares for 2nd Round of CIO Interviews
With the CIO position vacant since September 2023, a second set of interviews will be held on February 28.