US Public Pension Funds Sensitive to Market Correction, per Fitch Report
Investment volatility has re-emerged as a concern for pension plans.
Pensions
Shell Closes $4.9B Pension Risk Transfer With Prudential
The pension obligations cover 21,500 of the company's retirees, the first large PRT transaction in the U.S. this year.
Chicago Teachers’ Pension Boosted Funded Status in Fiscal 2023
With returns of 9.1% for the fiscal year that ended in June 2023, the funded status increased by 400 basis points.
Japanese Pension Giant Rebounds in Fiscal Q3
The Government Pension Investment Fund’s investments returned 2.62% during the quarter that ended in December 2023, raising its asset value to more than $1.5 trillion.
Rhode Island Retirement System Sues Boeing
A securities class action complaint was filed by Rhode Island’s general treasurer due to safety concerns negatively affecting Boeing’s share price.
Strong Q4 Returns Propel Canadian DB Pensions to 9.1% Return in 2023
Private and public sector plans returned 8.4% in the final quarter, according to RBC Investor Services.
MassPRIM Developing AI Model to Aid Investing
Starting with ‘baby steps,’ the fund plans to eventually incorporate decades of the pension fund’s data.
Australia’s Pensions Regulator Launches Project on Unlisted Assets
The APRA is putting under review its practices for valuation of unlisted assets, including private equity, commercial real estate and infrastructure.
Norway’s Pension Fund Global Rebounds in 2023, Still Misses Benchmark
Rallying equities helped the pension giant return 16.1% during the year, but it fell 18 basis points shy of its benchmark.
Malaysia’s Employees Provident Fund Names Encik Ahmad Zulqarnain Onn CEO
Ahmad Zulqarnain succeeds Datuk Seri Amir Hamzah Azizan, who left the $211.5 billion fund to become Malaysia’s second finance minister.
Market Rally Raises US Public Pension Funded Levels to 2023’s Highest Point
The stock market rebound in November and December spurred a $349 billion increase in the 100 largest U.S. public plans’ funding, per Milliman.
CDPQ Aims to Save C$100M per Year by Bringing Real Estate Units Into Main Business
The Canadian pension giant is integrating Ivanhoé Cambridge and Otéra Capital, also announcing the April departure of Ivanhoé Cambridge CEO Nathalie Palladitcheff.
NY State Pension Continues to Dial Back Its Stock Exposure
The New York State Common Retirement Fund exited more than $4.4 billion worth of public equity investments during the first 11 months of 2023, moving more into private equity and emerging managers.
Seattle, Austin Pension Funds Seek Investment Consultants
SCERS and COAERS have both issued RFPs for consultants with terms starting in the new fiscal year.
US Corporate Pension Plans Ended 2023 at Record Funding Levels
A December stock rally outpaced the bond sell-off, improving funding in most pension measures.