US Public Pensions Bounce Back from Dismal First Quarter
Asset gain of $308 billion in April-June period lifts estimated funded ratio to 71.2% from 66%.
Pensions
Under New Ownership, McClatchy Could Offload $1.4 Billion Pension Assets to PBGC
The bankrupt newspaper chain’s retirement obligations propelled it into Chapter 11, but the new owner, hedge fund Chatham, will get a clean slate.
Canada’s PSP Investments Loses 0.6% for Fiscal Year 2020
Despite loss, pension investment manager easily tops benchmark’s 2.2% decline.
Japanese Pension Fund Loses $77 Billion in Fiscal 2019
The world’s largest retirement system is the lowest it’s been valued in roughly three years.
UK Retirements Could Be Postponed Due to Pandemic
Research from Aviva finds that some may have to spend more of their life working because of COVID-19.
Nonprofit Hospitals’ Pension Funded Status Could Weaken After COVID Relief
The CARES Act has given many health care pension funds short-term relief, but that could result in lower funded ratios, says S&P.
CPPIB Ex-Chief Mark Wiseman Named AIMCo Board Chair
The industry head joins the Alberta investment manager just as the province is considering seceding from the national plan.
Pandemic Will Slice 7% from World’s Wealth in 2020, Says BCG
A painful $16 trillion could vanish from the planet’s coffers, only the second down year this century, Boston Consulting’s study estimates.
Trade Association Says UK COVID Bill Could Hurt Pension Industry
The PLSA warns of ‘unintended negative consequences’ for pensions of insolvent firms.
Tesla and Walmart Under Pension Fund Fire on Board Pay and Opioid Sales
The automaker has been sued by the Detroit Police and Fire retirement system over big payouts, and the retailer by the Detroit plan and a Norfolk County (Mass.) plan on how it distributes the drug.
Tesco Pension Investment Chief Steven Daniels to Retire Next Year
Deputies Danny Firth and Jenny Buck will take over his dual roles as chief executive and investment chief at the British supermarket giant.
Exclusive: Raphael Arndt’s Ascension to CEO of the Future Fund
Arndt discusses with CIO his leadership strategies focusing on the democratization of intelligence and empowering individuals within the fund.
Pennsylvania SERS Loses 11.69% in Q1
Tumbling equity markets helped weigh down retirement system’s returns.
Study: There’s a Better Way to Withstand Downturns than Old DB Model
Under new set-up, a plan is over-funded, which serves as a cushion in a downturn. Any benefit cuts are only as a last resort.
USS Targets Tobacco, Thermal Coal for Divestment, Exclusion
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’